Hi All,
I’m a total newbie and only had experience by installing MT5 for iphone and using a demo account to trade GPB/USD
I’ve had information through the door about FXCM, had good comments about vantage and heard stuff good about alpari.
Would anyone give me some advice which to choose? I’m looking to just dabble with small amounts of investment.
Also I went to a seminar in the UK called Learn 2 Trade but from reading advice on here I didn’t hand over 2,000 of my money 
Cheers
Shaun
I would check out Pepperstone in Aussieland. They are great and just releasing cTrader platform. On that note, I have been researching IC Markets in Aussieland which is way better spreads. -.3 with cTrader. I have found a lot of mixed reviews on these guys so I am pretty hesitant to transfer over.
Currently using three, fxcm, tradersway and alpari though I have slimmed down my alpari account due to a few issues but the others listed just work fine for me. Bottom line, you need to make the call on FXCM…why don’t you start with a smaller account with them, a micro and test them out…just a suggestion to see if FXCM works for you or not…
IC Markets is fantastic. They are much better than Pepperstone. Better spreads, lower commissions, and much much better customer service.
Oanda and Profiforex are better choices. One is big and complicated, while the other is small, transparent and simple. Both broker share almost same conditions; low spreads, charges and fast execution.
I’m all for helping newbies. However, to help somebody who has admitted to being a total newbie, whose only experience is MT5 mobile on iPhone, to trade live (even if it is a small investment), is a recipe for disaster.
Staying on demo should’ve been the right advice. Choosing a broker is the least of a total newbie’s worries.
It’s newbies who trade live and blow their accounts with their first trade that give forex a bad reputation.
These are pretty major brokers. How about trying out their demo accounts to see if you like their platform, spread, etc. I’m pretty sure they have 'em.
FXCM is a good broker. I don’t trade with it but I have heard a plenty of good feed-back about it. FXCM accept US trader and it’s regulated, I think you can try.
FXCM is good, no doubts about that but here’s a tip, don’t use the “regulated” tag to sort through the brokers for there have been quite a few “regulated” brokers who got caught with the “you know what” in the cookie jar…
I think from all the replies I really need to spend more time on the demo account and learn before I inject any money into this…I was tempted to actually try the learn2trade.co.uk but so many bad comments about it put me off…
For sure. It doesn’t matter what broker you choose, check them out with a demo account first. Once you have the account set up, hit support with a couple of questions, see how long it takes to get back to you and as well what they say. Here’s one of my favorites. “How long after I deposit can I start trading.” or how long does it take to process with drawls. You can also ask questions like do they offer training, webinares, signals, etc. Like I said see how long it takes for them to get back to you. As far as bad reports, just like good ones take them with a grain of salt. Go to peace army or one of the others and read the report, and see how long or if the company handled the complaint. You can also check here, I know that some of the brokers rep’s are prettty active in their threads. Always demo first, good luck
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AxiTrader [ AxiTrader: Trade Forex with a Leading Australian Broker ]
Pepperstone [ https://pepperstone.com/ ]
Personally I’m opening up an account with oanda but they don’t have types of accounts as far as I know it’s just lots you choose to trade.
I’ve heard plenty of good reviews about oanda give them a try.
+1 to IC Markets. I’ve been trading with them for more than a year now and have been really satisfied with their service and support. As you are looking to start with a small investment, I’m sure IC Markets’ minimum deposit of 200 US$ should help your cause. I would suggest opting for their True Ecn account, they offer some of the lowest spreads compared to most other brokers out there.
Also, their support staff are extremely helpful. I would definitely suggest IC Markets to a fellow trader, easily one of the best Broker out there.
Regards
My start was with PaxForex on real account and that is my recommendation for you. It was little bit rough on the beginning, but after a while I developed my own strategy and so far so good.