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Best Broker for a Newbie

Professional4X
Jul 17 2019 at 00:29
posts 1189
FXBrew is an unregulated brokerage.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Vivianng
Jul 17 2019 at 03:08
posts 10
Alexander654 posted:
What are spreads like? Are they regulated ? I have not heard of fxbrew before? Sounds more like a brand of beer

LOL I agree, sounds more like a drink rather than a broker 😁 Not sure about its regulation, as like the author of this thread mentioned, the regulation is important

Atchris
Jul 17 2019 at 12:13
posts 10
Alexander654 posted:
What are spreads like? Are they regulated ? I have not heard of fxbrew before? Sounds more like a brand of beer

Spreads are very tight, low as .1 on majors sometimes. And no they are offshore brokers. You must’ve not heard about them because they are only a year old I think. I like to test new brokers and add good ones to my list, which is when I came across them, good broker.

Thang (Minhthang2603)
Jul 31 2019 at 10:28
posts 20
skyjack777 posted:
Hi All,
       Have just been to the reviews on Brokers. I'll ask the question here. For someone in Australia, with a micro account between $250 to $500 dealing with .01 lots, is there any Brokers that come to mine. Thanks Bruce


IC Markets is the best broker in Australia

Nandi Ahmadi (n4nd14hm)
Jul 31 2019 at 12:08
posts 2
IC Markets.. choose CTrader Trading tool platforms

Imamul
Sep 07 2019 at 09:12
posts 650
if you want to find a right broker, you have to move Forex Pace Army where people share their own trading experience. And EarnForex and Babypips can be a great source to find a right broker nowadays.

SCR Traders (Pikasso)
Sep 07 2019 at 13:02
posts 170
It depends on what you want to do and how you want to trade/invest. For example , if you want to invest to the PAMM - it will be unregulated broker , or if you want to trade with leverage more than 1:30 - most likely that your broker will be with some unreliable licence, etc. As for me - I consider all these moment while choosing a broker to trade and provide account management or signals providing.

Trading system developers and strategy providers.
limaforex
Sep 15 2019 at 11:04
posts 1
spoteuro posted:
Looks like a lot of good choices have been listed here...

Just to throw our two cents, I'd look up the brokers in the US, then look up the CFTC info to find ones with good excelss net capital

(https://www.cftc.gov/MarketReports/FinancialDataforFCMs/index.htm)

(https://www.forexing.com/forex-broker-reviews)

then look to see if they operate in Australia.

I would agree from the lists that IBFX AU is good, though my experience has been w/ them in the States. Also, I'd check to see if Oanda operates in AU as well as Forex.com

Cheers,


I would agree from the lists that IBFX AU is good

downtown
Nov 12 2019 at 05:59
posts 26
I have been using turnkey forex for a while, one of the good broker out there. Being a newbie, it is better to go live with small capital and there, you can open a micro account with minimum deposit of $5.

Mohammadi
Nov 12 2019 at 08:45
posts 886
i have seen In spite of a profitable trading policy scalping cannot use in a reputed trading broker due to many restrictions. So, we the scalpers have to choose the broker which permits scalping including lowest trading spreads.

downtown
Nov 29 2019 at 12:23
posts 26
Mohammadi posted:
i have seen In spite of a profitable trading policy scalping cannot use in a reputed trading broker due to many restrictions. So, we the scalpers have to choose the broker which permits scalping including lowest trading spreads.

True! one of the best part of trading with an offshore is that they don’t impose any sort of restrictions on you, like with my current broker turnkey forex I can trade in almost all styles. And their spreads and commissions are really low as compared to regulated ones.

Karlos Fandango (Smith2525)
Dec 02 2019 at 23:59
posts 79
There's soooooo many brokers out there.... the 'best'really depends on what you are looking for...... I have accounts with IC Markets and Eagle FX. Both of which have been great for me! Just my 2 cents...
Cheers

Madalyn
Dec 04 2019 at 05:48
posts 31
vontogr (togr)
Dec 04 2019 at 12:04
posts 4862
Madalyn posted:
so offshore ok?

Offshore is OK as long as you do not need to withdraw your money :)

Eldon Ben (Eldonben323)
Dec 05 2019 at 23:39
posts 8
at Madalyn what platform do you invest with?

Smith88
Dec 07 2019 at 09:12
posts 25
togr posted:
Madalyn posted:
so offshore ok?

Offshore is OK as long as you do not need to withdraw your money :)


lol. I do trade in offshore (with turnkeyforex, lmfx, fxchoice in hands) and can recommend the same, but if he's very new to forex and non-US, then I don’t see the need to go offshore.

Treeny
Dec 08 2019 at 12:02
posts 186
Offshore is fine if you do your homework

Imamul
Dec 08 2019 at 13:53
posts 650
if you want to find a right broker, you have to move Forex Pace Army where people share their own trading experience. And EarnForex and Babypips can be a great source to find a right broker nowadays.

matto (msimcic84)
Dec 10 2019 at 12:51
posts 1
I am a newbie - been trading for around a year now. I was using Pepperstone for some time and then I switched to LQDFX

I was running two small accounts on both with the same AI and LQDFX is performing better. On top of that they have a better refferal program than Pepperstone where you receive a percentage of the generated commission of the traders you reffered.

In the end I switched completely from Pepperstone to LQDFX and for now I am a happy trader.



TeraPips
Dec 11 2019 at 13:18
posts 19
Imamul posted:
 if you want to find a right broker, you have to move Forex Pace Army where people share their own trading experience. And EarnForex and Babypips can be a great source to find a right broker nowadays.


I agree, this is the best method to find the reliable offshore broker. I was so dependent on broker list in babypips. According to that popular offshore broker thread, the 5 trusted brokers are:

LMFX
Turnkey Forex
Trader’s Way
FX Choice
Coinexx

https://forums.babypips.com/t/going-offshore-to-escape-the-cftc/35612

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