For the past few weeks I did a deep research on these two brokers.
And here’s my connclusion:
Better spreads goes to 1lotstp
Execution about the same
Both allow EA and scalping
They both have about the same amount of pairs
Both offer metatrader and mobile traders hotforex.com plus, Offer bigger bonus but there are more conditions with it.
Both accept credit cards
Both brokers have offshore regulation
Support from both companies seems good. 1lotstp gives weekend support.
Both companies have very good reviews about them
Maybe I will open a micro account with both to try them out but I was wondering which you would recommend.
If you can afford to open with a little more capital and can withstand commission, also try HotForex Currenex account as it is taliormade for scalpers and may provide less slippage (because Currenex is itself built on STP model). Moreover, you can open 0.01 lots with icremental pricing (0.02, 0.03 …). Just my 2cents:45:
You answered your question. The best way to determine whether a broker is good for you is to open a micro account and see what they have to offer. Well, when it comes to trust issues, I think the second broker comes first.
Hotforex is better. I have seen how they work and they are professional. I already opened an account with profiforex and am also planning on getting an account with them. Both offer favorable condition for my trading strategy.
Thank you with all your advice! @Forexlight Yes you are right this will be answered by myself alone, I’ll start with signing up for a demo account with two brokers.
@dollace, does popularity affects the brokers how they trades or assurance that they will suits you?
@kelvx: in forex trading, one unknown broker can be identified 90% scam, one popularity broker help increasing the chance to get back your money. Some scam brokers are popular scam as Insta, YoutradeFX,… I prefer the broker who is more popular and received more good feed-back.
I understand what your pointing out.
I opened my first ever Live account with 1LotSTP.com
Its still less than a month but I am posting the update to let you know that I am very happy with this broker.
I got my daily trade report and also daily technical analysis and trade suggestions with them.
I am very happy. I will keep updating you about my progress with them on monthly basis
I will advice you to choose the one that is best for your trading strategy, that can offer you suitable services in order for you to be successful in trading. Although, I have not really used these two brokers but you have to choose one wisely from those two you have in mind.
I’m not that sure of these you mentioned but I will suggest that you try both out to know which one is best for you most. The things i think we should look into when going for a broker are: Unlimited demo, leverage, low spreads, excellent withdrawal process and fast execution without freezing.
Am very sure he would find these features in one of the ones he mentioned. Even though it might not be 100%, but one must be nearest to his standard of a broker and besides these brokers are very nice ones.
