Can Anyone please advise on which is the best broker. I know that it all depends and yada yada yada. I am becoming a little discouraged with it all. Hearing lots of negative things such as the broker is going against you and this and that. But in the end no one is coming up with any suggestions on who to use or who is the best out of the bunch. Anyone?
You can try with Kerford Investments. They offer tight spreads and uses MT4 platform.
Go with a big US or UK broker and you’ll be fine.
A short list far from complete:
Oanda (the one I use, imho really good)
GFT
IBFX
FXCM
Alpari
ODL markets
Forex.com
PFG
MB Trading
Any of the above will surely be a fine choice. The important part is that their finances are solid and that they’re regulated. After that it’s a matter of taste such as what trading software do they have, what spreads etc. That part is for you and you only to decide on what suits you best.
iteforex is the best by far ,thought everyon eknew that…
I will look into it more seriously I am also searching to change broker to find The one!
I will let you guies know about my advancements,
advice don t sign up too quickly, there are some major criterias that needs to be checked.
ps-fxcm did not know was uk broker!
FXbmore, try to consider foriegn brokers: they have interesting offers, flexible bonus systems etc.
it depends where you are from!
Foreign is not the same for everyone.
What do you mean?
and generally they are all pretty globalized …
Well, it really depends on where the broker is situated, but it’s not the most important thing. You know, I believe, you know that Forex isn’t located in any particular city or town - it is entirely electronic. All you need to start investing money on Forex is ONE dollar (for many brokers) and access to the Internet.
I don’t think it’s too risky, just try to find out the particulars of trade offer
If any questions, ask =)
Here is your ultimate answer…
[B]The best broker is the broker that you like best!! [/B] 
Great advice, tymen.
That is very true!!! Look for a broker that suits you the best, download demo accounts to see the platform, call their customer service to see how they are like when you have a doubt and look for regulations.
After make YOUR decision!!!
Remember, just because a broker is regulated it doesn’t mean that the broker is legit…you still have to check. I seen so many fines placed on some of these brokers it’s ridiculous!
Of course, FXCM for instance hasn’t got a very pretty track record.
Still, regulation means that it’s not a complete wild west whereas unregulated brokers can do absolutely whatever they want and get away with it.
Yes, I understand that but you still have to do your research regardless so you can possibly avoid any nonsense…
forex29, that’s really a resonable approach =) however, it requires much time… just try to make a list with all the cgaracteristics you’re interested in. I suggest we make this list righ here =)
Yes, that would be good! A SOLID list
I think that if we enlisted such companies as Alpari, we should also include LiteForex, FXOpen etc.
But the question arises - which of these is the best and which criteria should be used to determine that
I guess we would have to take spreads, customer service, etc. into consideration. I already tested a couple of those brokers myself.
FXOpen is registered in Mauritius. In other words they’re hiding where real financial authorities won’t come looking. They should definitely not be included on any list of brokers to choose from!
Liteforex is legally registered in the Seychelles and run out of Russia. Same as above in other words.
Neither of these companies are therefore regulated by any real authorities and as that has to be a given to enter any broker list, they don’t qualify.
I second o99Ol6mh on that. After all is your hard earned money you’re investing in forex, and at first, trading by itself is difficult.
I know some people who live in countries where some forex brokers are based feel more comfortable trading with them, but trust me, me being mexican, I would never put my money with a mexican based broker, because I know there’s no such regulation in the country.
Me being in Canada, even though with good regulation I haven’t found a broker better than crap.
So I recommend you to really choose a good regulated broker with a good reputation so the only thing you worry about is trading! Even if the broker is in the U.S. or in the U.K. or in Switzerland, make sure it’s well regulated.
And of course, that excludes brokers based on countries with poor financial regulation.
I’m just trying to help, because it’s a huge choice there you have to make, so you better make the right one.
How do you know you qualifies and who doesn’t qualify…what are you a moderator lol?