Which broker are you using?

Broker Discussion Forex Brokers
1

Hi everyone, as title, which broker are you using?
by the way, just curious to know, anyone using GMI markets?

Thanks for replying my post

2

Depends on what you need, i know some using CedarFX for their 0% commission as they are mainly scalpers, some that use ICM and others that use Hugosway for the cryptos they can trade. All depends what suits your needs :slight_smile:

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3

EagleFX, IC Markets and CedarFX

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4

Hey! No idea about this broker, have you done research though? Might become useful for you.
Currently, trading with fxview at this moment.

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5

I would select a broker based on their regulatory jurisdiction. The toughest regulators are in the UK and the US. Then the EU, possibly Japan, then Australia, New Zealand, Canada, etc. South Africa maybe. Switzerland and Scandinavia probably.

I would avoid doing business with any firm in the Caribbean, or on small Pacific islands, or North Cyprus, or tax havens like BVI etc.

Lucky for me I’m in the UK where there is a very strict regulator but a reasonably loose legal framework. So the brokers based here must work hard to stay honest with their clients and protect their capital. On the other hand, UK brokers allow you to be both long and short in the same instrument, you can scalp, daytrade and go short without restriction, and financial spreadbetting is not only legal but tax-free.

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6

In my opinion USA is by far the toughest and Australia is certainly tougher than the UK! Australian’s are limited to 1:30 leverage now, same as in the USA. Hence the reason why I avoid regulated brokers all together these days (I am from the UK, but citizen of Australia).

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7

Hellooo. :blush: I’ve tried both Oanda and Forex.com. :blush: I think they’re a couple of the most established brokers out there. :smiley:

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8

Hello there! I’ve been using AximTrade for a while now. As a beginner, I really appreciate trading with a broker offering a lower spread and margin requirement.

9

Haven’t heard about GMI markets. Do you already have an account with them or thinking of giving them a try? Btw I am using turnkeyforex currently, good option to consider for a low cost broker.

10
I have recently started trading with FP Markets. So far, the experience has been good without any issues during live trading, even the withdrawals and deposits are smooth.
11

I trade with FP Markets, an ASIC regulated broker, using their raw ECN account that offers some of the lowest commission costs at $3 per lot when compared to my previous broker, ICM, and the execution speed is faster than usual.

12

Been with forexchief for a while now, I chose them not just because they are regulated but they have been in the business for long. That for me is a huge factor to consider, it shows you the kind of reputation the broker has built over the years.
So whatever broker you choose at the end of the day, make sure they have been operating in the market for long.

13
After experimenting with various brokers and blowing up a few accounts, I've settled on FP Markets.I mainly trade with them because they are regulated by ASIC and provide some of the lowest commission costs at $3 per lot, which is lower when compared to my previous brokers.
14

How are their spreads? I use IC Markets for one of my brokers when I want ultra tight spreads but they are $3.50 per lot. It can come down to finding a balance depending on strategy and trading style. I also have an IG account but the spreads were a little high. EagleFX were a little high for my liking for FX but they have more crypto for my weekend trading so swings and roundabouts. Have to use the right tool for the job.

15

I haven’t actually used the one you mentioned, but I’ve been trading on a 0 commission account through CedarFX. I also have a good friend that trades with Oanda and he reports that they are a good choice as well.

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16

I have traded with several brokers and burned most of my account. Right now I stick to FP Markets because their commission costs were lower at $6 per round lot when compared to my previous brokers like Global Prime and Pepperstone.

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17

How much were theirs?

18

Which country are you from? I’m from the US and currently using Forex.com, my demo account was Oanda but ended up with them for no particular reason.

20

I have been using fxview for a long time now, trading conditions are quite good.

21

I trade with an ASIC broker known as FP Markets. They have good trading conditions with prompt customer service in solving clients’ queries, and their minimum opening balance is only $100 AUD.