Hi,
I would like to get a forex broker to trade $1k. Can somebody give me an idea? (brokers names please :p)
I am searching a broker who is STP or ECN and that I can withdraw my profits (I heard about brokers who freezes clients account and don’t give the cash!!! so…)
I heard about Dukascopy and Profiforex (yeah, one is a bank and the oder is a broker)
Any experience to share?
Thanks for helping me.
Victor from Belgium
Dukascopy is a good way to go… I’ve had an account with them before and didn’t have any complaints.
Thank you for your amazing speed response lol
Ok thanks. I already visit their website and they are looking very pro.
I think you have to look beyond the professional look of a website. I was once deceived by a web layout of a particular broker. However, you mentioned two brokers if you are a new trader, I think the second broker would be a good way to go because they have a very simple website, cheap platform and they are straightforward in their services.
HotForex, Fxpro, FXCM. Just take a look, those are good brokers.
I wouldn’t go to Dukascopy with just 1k as they prefer a lot size of 0.1 (although 0.01 is posible to trade). Also, they have the worst account opening process I’ve ever seen.
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You should also take into account other paramters like regulation, server location, funding options etc. to define your broker requirements.
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I wouldn’t use HotForex even if the were the last broker on earth.
I heard that ECN works with a minimum of 10k. so what can i think about brokers who allows me to trade on ECN with 1k? maybe STP is better for 1k?
Here are three great tips broker that I use each of these brokers are reliable and offfre a unique trading experience.
HotForex allows to exchange in a small volume, it offers a high leverage, the differences are very low has departed from 0.1 pips.
UFXMarkets is a broker that offers fixed spreads
Easy Forex offers fixed spreads on all negotiated contract. this prevents the progation, which is one of your biggest expenses as a trader and allows you to exchange effective manner.
If your trading strategy relies on a tight spread, you don’t have much of a choice, although, in general STP is good enough.
Almost all brokers work with a set of liquidity providers, e.g. large banks like Deutsche Bank or UBS. Most of the large liquidity providers simply don’t accept small orders which is why in turn most ECN brokers require a minimum lot size of 0.1. However, there are still a few liquidity providers who accept smaller orders and therefore, some ECN brokers allow a lot size of 0.01.
The problem is that the price you see on the live feed is always the best price. If your broker has 10 liquidity providers, but only 4 of them accept 1k orders, it might be that the best price is from one of the other liquidity providers (who only accept 10k), but due to the low order size the order is routed to one of those 4. So when you trade less than 10k with an ECN broker you might get a higher slippage than if you had traded 10k.
Ok and if i use a 1:100 leverage will the providers consider it as a 1 lot…?
Whichway.com a new australian company with excellent spreads and low commissions check it out. They will even throw in a bonus tell them fridgedude recommended but don’t only take my word for it check it out for self. 
No, the leverage only determines how much of your account balance is taken as margin when you open a trade, so the lot size will still be the same no matter what leverage you use. The collateral agreements between broker and liquidity provider are totally different (much lower than 1:100) anyway.
but I wishes to remind you that the broker does not regulate.