Need an advice

So I am very unexperienced trader yet,
I started to work with GoCapitalFX last week, but now I don't know if it was a good idea. I liked the site but I haven't found much info on the internet about the company, mayby somebody has worked with it?
is it good to start with a new broker company?

Yeah, this name is new for me as well. If you are newbie, it will be good to try with some well-known and trusted broker in order to avoid any negative surprises. You could type in internet something like 'the best forex brokers' and you will see many useful lists and comparisons. Depending on your research and comparisons you could select any broker according your trading style. For example, some traders are looking for commission based brokers, providing interbank core spreads. Or other traders prefers to be without commission, however on wider spreads... :) Let me know if you need some additional advice. Good luck :)

Alex52 posted:
So I am very unexperienced trader yet,
I started to work with GoCapitalFX last week, but now I don't know if it was a good idea. I liked the site but I haven't found much info on the internet about the company, mayby somebody has worked with it?
is it good to start with a new broker company?

I recommend to start with Darwinex. It's reliable and serious company. There's nothing redundant here and still you can find anything you need. All my accounts are in Darwinex now. As for GoCapitalFX - I haven't heard anything about this company. I couldn't even find a website ))

Pikasso posted:

Alex52 posted:
So I am very unexperienced trader yet,
I started to work with GoCapitalFX last week, but now I don't know if it was a good idea. I liked the site but I haven't found much info on the internet about the company, mayby somebody has worked with it?
is it good to start with a new broker company?

I recommend to start with Darwinex. It's reliable and serious company. There's nothing redundant here and still you can find anything you need. All my accounts are in Darwinex now. As for GoCapitalFX - I haven't heard anything about this company. I couldn't even find a website ))

100% agree,,seems to me like a buckett shop

idk, I have an account at Gocapitalfx, and it seems to be alright. The company is young but they provide some good stuff. I made a minimal deposit tho so I got couple hadreds from it and have withdrawn

How on Earth did you find them if they are not showing in Google search in the first place?
Seems awfully fishy.

Anyway - Check their regulation.
Always do. If they are not regulated with a big authority - I'd recommend you stay away.

The guy who wrote that post has only written 1 post before so they may work for the broker and are trying to dum up business.

@Andy8866: Could you please give some more details? What is their required minimum deposit ? Where are they based? If you got their web site, please share. I got curious already...
Thanks in advance !

I'm not so sure. I would go with a more well known broker if you are newbie

HappyDog1 posted:
The guy who wrote that post has only written 1 post before so they may work for the broker and are trying to dum up business.

I agree.
That 'broker' is a company registered in Dominica but is not regulated anywhere (as seen on their website and legal documents).
Also, they claim to be an NDD but offer signup and deposit bonuses which is the trademark sign for a bucket shop/market maker.

I would not trust them with a demo account, not to mention depositing any money...

If it isn't regulated in EU, US, or Australia then I am not interested. Otherwise you are just transferring money without any security that you will get it back

There is nothing which is able to reduce your frustration until make sure a trading discipline as well controlling emotions. We traders feel frustrated when we lose, and only due to lacking trading discipline and because of emotions we always fall a great loss.

CarlosMZ posted:

HappyDog1 posted:
The guy who wrote that post has only written 1 post before so they may work for the broker and are trying to dum up business.

I agree.
That 'broker' is a company registered in Dominica but is not regulated anywhere (as seen on their website and legal documents).
Also, they claim to be an NDD but offer signup and deposit bonuses which is the trademark sign for a bucket shop/market maker.

I would not trust them with a demo account, not to mention depositing any money...

Good points Carlos. Providing NDD execution + singup bonuses is not good idea :D Everyone will know that this is scam or Market Maker... Additionally, you are right- if the broker is not regulated from big and trusted authority- stay away :)

I have seen according to my trading experience by and large traders especially the newcomers for all time emphasis on regulation when it is time to choose a broker. because we basically think from all trading platforms in Forex market place only the broker which is regulated by the high authorize can make sure security of funds with a wide range of trading technologies. But practically this happens or not? Please share your valuable experience.

Yes regulation is essential. A bad broker may not pay up if you start making money.

Its hard to make sure the good broker as a newcomer but if we would make some research then we would be able to find out. But I think it is very important to join different brokers and observe like how to deposit and withdraw the money and what is the spreads and what is the kinds of account allowed.

The beginner should use demo account minimum for three months, sometimes many brokers organize demo contest with real money prizing. Newcomers can join here. It could be great to acquire real trading exeprince.

TeddyBrendon posted:
I'm not so sure. I would go with a more well known broker if you are newbie

Agreed

In Fx trading , by and large traders in particularly the newcomers fall a great loss by taking high leverage due to non sense planning and zero risk management policy, nothing to do with high leverage at all. so, I think, before trading with high leverage we have to know how to manage risk.