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Best Broker
Member Since Aug 20, 2009
256 posts
Jul 06, 2020 at 11:43
lucasser posted:
I'm a new trader looking for a regulated and reliable broker to go live, did my research on broker and shortlisted HotForex, FXPro, IC Markets and FP Markets.
Any traders currently using or have used these broker, reviews on their spreads, commissions and reliability. MY Fx book
I use all 4 and they are all good. My preference is for IC markets in conjunction with Paybackfx. FP Markets is a close second followed by the other 2.
Wealth Creation Through Technology
Jul 07, 2020 at 12:25
I can also vouch for FP Markets. I think it is not about finding the best broker, but it is about looking for the broker that suits your account and expectations very well. I always gave priority to keeping my account safe while focusing on the long-term trading. I currently have accounts with XTB, FP Markets and Fxview.
Member Since Aug 20, 2009
256 posts
Jul 08, 2020 at 04:58
vosrgen posted:
So far i'm trading with FXTM and XM, but also looking for a good broker that can offer a managed account with proven stable results.
Can anyone recommend such?
Actually, FXTM is ok for managed accounts. I have some "throw-away" money with Alpari(they are the same company as FXTM) in a managed account that is doing ok.
Wealth Creation Through Technology
Jul 10, 2020 at 11:29
Given the number of brokers, its a tough task to choose a broker that suits a trader's needs. I have been trading since a good time with Turnkey forex and they have been able to live upto most of my expectations in pretty much all major aspects be it tight spreads, low commission or quick withdrawals. They've been a good choice by far.
Member Since Jun 08, 2020
27 posts
Jul 18, 2020 at 04:04
IC Markets are the best,
Member Since Aug 27, 2017
875 posts
Jul 23, 2020 at 18:54
without using practically thats really difficult to recommend at any broker , because right now so many brokers are available in this market place and most of them are found to be scams.
keeping patience.......
Member Since Aug 27, 2017
875 posts
Jul 24, 2020 at 18:59
Forex market or forex trading i think is completely secure but it depends on your broker performance , because without a broekr you cant a trade at all.
keeping patience.......
Member Since Jul 20, 2020
172 posts
Oct 12, 2020 at 12:06
You need a good and reliable broker to make money from this market. Without a good broker, you can not survive in this risky market.
Member Since Jul 10, 2020
32 posts
Oct 19, 2020 at 11:05
Go for any regulated broker, they are safe.
Nov 18, 2020 at 15:51
Looking for a reliable broker to start live and grazed on FP Markets recently ,their spreads, commission costs seem to be lower when compared with other similar brokers.
Are they a true ECN broker, can they can be reliable to trade with?
Are they a true ECN broker, can they can be reliable to trade with?
Member Since Jul 19, 2020
283 posts
Nov 18, 2020 at 17:34
Most traders lose their money because of their wrong broker. Choosing a good and regulated broker is not easy. You have to be very careful about choosing the broker.
Nov 23, 2020 at 19:08
Picking a broker is not easy, and most retail traders only spend a few minutes picking one, mostly based on glossy advertising or 1000:1 leverage.
Do your due dilligence, this link is a good start:
https://www.cftc.gov/sites/default/files/2020-09/01-%20FCM%20Webpage%20Update%20-%20September%202020.pdf
If the broker you are thinking about does not list its capital with the CFTC, would you really want to deposit your funds with them? Check with the local regulator at least for their capital requirement reports.
Next step is to make sure your broker is properly regulated, and I mean with one of the big regulators, not some dodgy one on a Caribbean island somewhere.
The next step is calling that regulator to make sure they have a good record. Check each and every action against them.
The next step is finding out the liquidity providers, do your due dilligence on them, at least call them and check their record with the regulators.
The next step is checking on the corporate side of the business, get a credit report about them from one of the big leading credit agencies.
The next step is calling or visiting them and talk to them.
The next step is opening a small live account and see if your trading style suits their platform/liquidity/spreads etc.
Do your due dilligence or else live with the consequences, just don't come here complaining on these forums about some dodgy broker, if you had gone about your business the right way, you wouldn't be with a dodgy broker in the first place.
Are the big regulated brokers perfect? Of course not, you will have problems with them, at least you have somewhere to go if you can't get it resolved and a broker with a 100 Mn in capital is not going to run of with your 500 bucks.
Do your due dilligence, this link is a good start:
https://www.cftc.gov/sites/default/files/2020-09/01-%20FCM%20Webpage%20Update%20-%20September%202020.pdf
If the broker you are thinking about does not list its capital with the CFTC, would you really want to deposit your funds with them? Check with the local regulator at least for their capital requirement reports.
Next step is to make sure your broker is properly regulated, and I mean with one of the big regulators, not some dodgy one on a Caribbean island somewhere.
The next step is calling that regulator to make sure they have a good record. Check each and every action against them.
The next step is finding out the liquidity providers, do your due dilligence on them, at least call them and check their record with the regulators.
The next step is checking on the corporate side of the business, get a credit report about them from one of the big leading credit agencies.
The next step is calling or visiting them and talk to them.
The next step is opening a small live account and see if your trading style suits their platform/liquidity/spreads etc.
Do your due dilligence or else live with the consequences, just don't come here complaining on these forums about some dodgy broker, if you had gone about your business the right way, you wouldn't be with a dodgy broker in the first place.
Are the big regulated brokers perfect? Of course not, you will have problems with them, at least you have somewhere to go if you can't get it resolved and a broker with a 100 Mn in capital is not going to run of with your 500 bucks.
