I leave in West Africa which broker should i use?
Hotforex, Tickmill, IB are examples of great brokers. You may also try local brokers but the downside of this option is taxation of capital gains. Some trading strategies with slim margins may not survive on local brokers.
which broker is more appropriate , it depends on your trading conditions , if love doing scalping , should choose the broker which allows trading concept such as this.
Make sure you work with a regulated Broker, that is the most important thing.
You want an STP+ECN broker (NDD). Not a Market Maker.
then the best spreads and commissions possible.
Thanks for your advice, am just new and trying to understand everything i one go. I prefer specific names like: Am just bad when it comes to a lot of things to choose from it not strength.
Thanks for your advise,i will check it out and see.Great to have people like you.
Thanks for your advise, great to have people like you on the forum.
Tickmill, pepperstone, oanda
If you are from Africa, use a broker that allows easy registration and financial transaction. I’ve recommended Forexchief severally for those from that region. You’ll love how easy it is. Don’t let any broker stress you when it comes to withdrawing your profit, because many of them are good at that.
Like the way you advise me with a reference on what broker to use Great info. I will like to hear more from you when you can. I am just reading for now and will be practising more after that. i am in perschool on pipsology for now. I like to avoid to mistake of other.
As a beginner in forex trading should i use a broker with lower spreads and higher leverage.
Should i just keep trading in demo for a few more months since its just a month.
Yes surely a broker with lower spreads and commissions though I won’t suggest high leverage since you are a beginner.
And yes I think you should trade on demo till the time you do not feel confident also would recommend you to go with regulated brokers only, for lower spreads you may check fxview.
Hi there, I can give you specific names - Fxview and IG. You can open an account with both or choose just 1. Some traders prefer to split their trading capital with different brokers. However if you’re planning to start with an initial capital of less than $500 then Fxview is a better choice because of its low transactional cost of just a dollar.
Its highly depends on your trading strategy. Its like if you do scalping with XM, you will face a lots problem with them. So first thing i would suggest is to identify your trading strategy, then go for a regulated broker with various deposit method, low spread and stable trading environment. You may try out Pacific Union as I feel good with the broker at the moment. The minimum deposit amount is only 100dollar.
You can try IC markets or Fxview.
You should keep using a demo until you make profits consistently for 3 months. Then Switch to a micro account with less than $50 capital. Trade another three months for consistent profit
Use a regulated broker that has a history of quick order executions and withdrawals.