This is true that there is not much of a difference in front of the eye but in the backend things can get pretty different. We have to be aware the whole time.
I would suggest you to only go for a regulated broker.
Well, I think that every broker that doesnât scam you is a nice broker. You just have to make sure that the broker you are considering is regulated. If you do so, you will be kind of satisfied that you are not putting your money just anywhere.
I do prefer some offshore brokers, and I can say that by experience, some of them do provide better commission structure and tighter spreads. The best part is that I do not have to follow FIFO.
LMFX just accepts Bitcoin payment, great update.
Your choice of broker must not depend on how a broker worked for someone else. It is your trading journey and so donât risk it by going by mere words. Do your own research and see whether the broker you are planning to use is worth risking your money or not.
I have been trading from almost 10 years now, out of which I have been using offshore brokers for almost 6 years. I faced withdrawal issues with my first offshore broker, so you should know that not all offshore brokers are good. But yes, not all offshore brokers are a scam. All you need to do is deep research on different brokers since all reviews online will not be true. Also, you need to take that chance. Open a small account with your choice of broker and see if you are facing issues with trade execution and withdrawal. Compare spreads, compare other trading conditions with other brokers. And if you are happy, then you can grow your account with that broker.
FYI: I have been with Turnkey Forex and XM and both are really good.
I have no experience with any of these brokers. Not very fond of off-shore brokers. Canât trust them with your funds. How is Fx-choice by the way?
It is totally a personal opinion to trust offshore brokers. But if you ever plan to try offshore brokers, you can look at this page:
Regarding FX Choice, there are mixed reviews about the broker online. You can read the reviews on FPA too.
cant say much about fxchoice, havent tried them, i do trade an lmfx account for a non US trader, they are okay, they payoff on time and they do have good spreads