Hi, can anyone recommend best online brokers to start with small account of USD 1000. I am looking reliable brokers with very low spread and very minimal or no withdrawing fee. Any more advise and suggestions are welcome
I use Oanda because I mostly trade the GBP, JPY and their spread is low. Everything works well too.
I second OandA
Diddo on recommending oanda for small accounts as long as your trading manually. I actually quite prefer thier trading software over mt4 that purpose;)
There are many brokers who offer micro and mini, the last time I checked with Forex.com, they did not offer either. Anyway, google some of the websites and check out the brokers. Usually the issue of withdrawal fees would be addressed in the FAQ section of the broker’s website.
Oanda is my favorite too.
I want to suggest you for AVAFX Forex broker. Even better idea is to compare all brokers shared here and then choose the best one.
go for hotforex ! no withdrawing fees and also very tight spreads !! they are honest with remarkable customer service !! and
1000$ is good to start with !
The last time I checked with Forex com was way back and if they have mini lots on offer, good for them. Since the CS went AWOL during one of the system hangups [re: Nostradamus], decided to opt for some other broker…
Dunno what you just said but yeah, forex.com has been good to me so far. What is CS?
Another reason I opted for them was because they were the easiest to put money into. Other places wanted a ton of info and could only wire in money. Took about 5mins to start funding via Debit Card.
I used Trading Point up until recently. I deposited only $500 with them. No deposit or withdrawal fees. Their spreads are okay, can get a little high during times of volatility, but that’s expected.
Thanks guys, for your suggestion, seems Oanda users have majority till now:-)
you might want to look at hotforex for non US users, its the broker that I use and its quite decent really
I was looking at fxcm and they offer free acess to dailyfx.com training site. Anyone have any experience of fxcm or dailyfx.com? I must admit i have no lotalty to my current broker so would consider moving if this was a good deal.
CS = Customer support, Nostradamus = the defunct tool they use to predict the market [not kidding]. Anyway, the platform went AWOL just as I was about to close a trade, contacted CS and all I got in return was the message “our operators are busy and will be with you shortly”.
Anyway this was a while back…perhaps, things have improved. On debit card transfer, that’s nice seeing how bank wires are not cheap but nearly all brokers offer this option.