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Broker Discussion Forex Brokers
1

Hello all,

I’m new to forex trading and currently learning with the Baby Pips course.

In the meantime, while I learn, I’m looking to practice on a demo account, before going live.

With that said, I’ve been reading through the forum here, and additional forums online, while also checking Wiki FX and Trust Pilot, in search of the best brokers, and it seems like there’s mixed reviews for nearly every broker.

I’m in the US, and I’m looking for a broker with a minimum deposit of $100 or less, and an overall good reputation. I’d also like to trade crypto, bitcoin and indices, if possible.
And, I’d like to use the MT4 platform as well.

Originally, I’d only heard of Hugo’s Way and KOT4x, and planned to use one of the two, but now, I’m a little wary of both.

Thoughts? Any suggestions? Recommendations? Personal experiences?
Thoughts on offshore brokers?

Anything helps!

Thanks, in advance.

2

Hi, first of all this two brokers are not regulated, ( I can’t find any information about regulated and license) so better is keeping away from them :). Try to find regulated broker, this is not hard, every regulated broker have information about regulation and licence on home website. Regards Greg

1 Like
3

Hi.
I was actually going to post the same question so i’m following this post. Same situation for me really. Think i’m going to stick to forex to get going. But looking for a decent broker in the UK as, like you mentioned, every single one seems to have mixed reviews!

5

hi, i’ve tried oanda and avatrade. oanda is pretty decent while with avatrade, i’ve yet to get fully convinced with its customer service. i’m from sg, so these two are strictly regulated. maybe you can check out blueberry market or markets.com. they’re one of most recommended ones out there.

6

I am trading with FP Markets and its a genuine broker with low spreads.

Started using them as a beginner and dint have any issue with them till now.

8

In the U.S., the retail FX brokers are few due to the strict regulatory environment.

If you plan to trade small, your choices are limited to FOREX.com, IG US, and OANDA.

Hard to go wrong with any of them since they’re all regulated by the CFTC and are registered as RFEDs with the NFA.

If you’re in the U.S. and a retail forex provider is NOT registered as an RFED or a futures commission merchant (FCM), pass on them.

For traders who trade larger sizes, TD Ameritrade and Interactive Brokers are options also.

9

Offshore brokers are good providing that they have UK branch and are regulated by the FCA. In this case they have less incentive to cheat as UK license forces them to be more transparent and fair. Among the best example I can mention such names as Hotforex, Tickmill, Exness