Which broker to start with?

Hi traders,

I have been trading demo for 6 months now. Starting from 5000 USD and now I got 10K USD in my demo. Took 6 months to generate 100% in return. Not bad right?

I am ready for the real trading and I have a problem in choosing the right broker.

I heard FXCM having an issue in USA but still there are alot of traders love that broker. I live in Malaysia by the way.

Em any suggestion guys? Planning to start with 200 USD to open an account.

Thanks and happy trading!


you can find some good broker at another thread in this forum. here is the link . : Going offshore to escape the CFTC

Damn that’s some serious return, I’m extremely new and only have generated a few hundred bucks. Other than the babypips course, what other resources did you use to become a better trader. Thanks man

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Hi Mike,

Please do not be surprised of me making 100% return in 6 months time because normal stock traders out there can do that.

Besides, there are many forex traders out there easily making more than 100% return per month to trade for a living.

In your case since you said that you are extremely new to forex, who knows that you can make 100% return in 5 months time or less right?

It is a good start for you to stick to babypips to learn everything about forex. Go through all those schools and analyse all those news while trading your demo.

After that, go through youtube and search Trade Empowered to watch how those traders trade then you will have a clear picture. You will learn best by watching pro traders trade.

Happy trading!


Thank you so much! best of luck

The rubbish that some beginners post here is frightening.

I don’t care whether you believe that or not, but when you state it as a “fact”, encouraging others to believe it too, that’s just daft. :grimacing:

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I think, it’s important to use similar setting on demo what you might do on real. I mean, if one is willing to invest 1000 USD or 500 USD then it is not sensible to operate with 5000 USD or 10000 USD, it will just put us off the track. As per broker, I think you need to go with what you feel comfortable and that’s only from demo that you can check and reading reviews, as no other option is there.


Unfortunately, traders tend to face a lot of obstacles in their broker search. For younger investors, discount brokers are probably the best bet. Some people recommend full-service brokers for new investors, but it’s probably not economically feasible for a young person to go with a more expensive full-service agent. In addition, today’s online discount brokers are widely used and usually provide a wide range of tools for inexperienced investors who are not sure about their next steps. In addition, assuming it starts slow, you will learn much more about the investment if you do some of the work yourself.

Hi there,

So which one to start with? With non deal or desk deal?

Can those famous brokers scam me such as not following my trade orders?

Sorry to ask such questions because I read many negative reviews before about forex brokers.

There are usually no “trade orders to follow” when you deal with a counterparty broker.

They hold the other side of the position and you’re simply betting against them. Your trades aren’t actually being executed in a real market. No currencies are really changing hands. The broker is just treating your account as if they were.

They vary a lot.

Oanda is as good as any, and better than most, in my view.

Hi there,

So you mean to say that those forex brokers are not as safe as those stock brokers who work in a well known banks?

For example: I wanna place a buy stop at 1.0245 and a stop lost at 1.0045. 200 pips from that order but the forex broker either stop it too early or just dont stop it. They just like dont following orders.

Thanks for replying!

I think that’s probably true, actually, but it wasn’t really what I was trying to say.

The point is that stockbrokers are doing a trade for you, that you can’t do yourself, and they’re not involved in the trade’s result other than charging you a commission for doing it. Forex brokers of the kind we’re discussing are involved in the result, because they hold the other side of your position, and your “position” is actually no more than a bet against them…

That’s not to say that you should avoid all of them, and you may not be able to (unless you have enough funds to open an account with a genuine broker, but very few people here do).

So it’s a question of choosing the safest and best-regulated one you can. Which isn’t easy.

Thanks Anna for the info. You know I am worry about my platform in my laptop is slightly different from those brokers’ platform in terms of candlestick movement. If you check Oanda review, you will notice one of the trader complain that the broker has stopped his trade even though his trade has not yet touched his stop lost. It was because the broker’s platform shown out that the candlestick has touched the stop lost where else the trader’s candlestick had a long way to touch his stop lost (you can check the review if you do not understand what I am saying).

That is way I was paranoid about broker can play a little tricks on us such as not following to our trade orders (put aside margin call).

The most important thing in a broker is the ability to access your hard-earned money!

So look for withdrawal proof around the forum.

For example I always got paid on time from XM = https://photoshar.in/xm-4000-skrill-withdrawals-2016

Hello, what demo did you use? I’ve just started and I’m learning on babypips and I’m looking to start on a great demo.

Hahahahahaah, come on, if that was the case someone, like Hucklekiwi, would have all the money in the world. You would have 5 or 6 people trading against themselves. Wow, such a load of nonsense, Hmmm, Mikey is that you using a sock on your hand. See now that right there is comedy GOLD.

The Ever Killing Myself VIPER

Hi there, I’m using MT4 apps for android demo trade.

Well there is a Dukascopy branch in Kuala Lumpur and Oanda branch in Singapore.

I think they are reliable.

Last but not least i want to state the following,

"Risk Disclaimer for Forex Trading

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts."