What is Price Action friendly broker?

#1

Ok, I know how to trade PA, problem is I can’t say what broker to use. There are hundreds of brokers available, that is no problem. (Some of those even regulated :grin: )

Problem is to find trusted, good leverage providing and easy to use broker. Currently I am using Lynx broker, but unfortunately it feels rather heavy for PA trader compared for example to MT5.

So, I would like to hear recommendations about broker who offers hundreds of instruments (forex, stocks, indexes etc), is reliable, very simple to use and providing leverage more than 1:30. (I live in Europe.)

Any ideas?

#2

I am using BDSwiss and Fxview at the moment, both based out of Europe and offering high leverage. They are cysec regulated so no issues there, and mt4/5 are the platforms that they provide for trading. Fxview also offers acttrader, I am using them for trading forex, indices and commodities. The interface is particularly easy to use.

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#3

Well, I agree that it is not easy to find a broker that works for you. Each broker is good at one or the other thing. So, that means you will have to decide on the basis of your particular requirements. If you want to use price action strategy on a broker, you will have to check that separately.

#4

i find it much better to use trading view for every thing including price action and then placing the trade on my broker

#5

Finding the right broker for your requirements is the most difficult task of your forex trading career. If you don’t check them properly, it might seem like all the brokers are the same. You learn the difference only when you trade with them. So, it’s better to test them before you risk your money with just any broker.

#6

price action-friendly broker is a broker which always ensures real candlestick that is very supportive to predict the real faction of this market with certainly.

#7

I think you are referring to a broker like Forexchief. If it is simplicity you want, you have it. I trade few pairs, but the broker does have almost all of it. Leverage is up to 1:1000. Thank me later.

#8

Thanks for explaining this. But I do wanna know whether price action really works.

#9

What a trader must know is that the broker time and candle closing time don’t influence the price action. Different time frames will look different on different brokers. It’s the signals that may vary. Like for me, turnkey forex and etoro worked really well but the same strategy didn’t work with pepperstone. Bottom line, the correlation between the two can help predict the real faction.

#10

Can’t really say. PA is one thing that calls for a hell load of patience and confirmation at the support and resistance. It can be either as a pin bar or an engulfing pattern. Problem I face is that while waiting for the confirmation, I lost out on the trading opportunities.

#11

Who asked you to wait for the confirmation? Simply identify your levels and trade without any confirmation. I know I might sound like a fool but try this strategy on a demo account and then compare it with your strategy. Meanwhile look for more tradable markets like futures, equities, and even exotic currency pairs.