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Best Broker for a Newbie

Mario (leopoldo)
Dec 25 2016 at 07:49
41 комментариев
carl54 posted:
The good Forex broker always makes sure security of funds, low transaction cost, easy withdrawal system, free demo trading, larges bonuses, lowest trading spreads, minimum margin requirement and much more real trading facilities that are very supportive to lead a flexible trading life with certainly.


Most of what you say is common sense but why you didn't mention anything about trading against clients? This can be very dangerous for newbees I think. What kind of trading facilities support your trading?

mlawson71
Dec 26 2016 at 12:00
1487 комментариев
MC85 posted:

They will make some more noise but I don't think much will be changed.


You're probably right. CMC Markets, for example, have already seen the writing on the wall and they're planning on moving away from the UK. Apparently they want to relocate parts of their business to Germany. (https://www.forexbrokerz.com/news/cmc-markets-to-move-out-of-the-uk). I doubt they'd be the last to do that.

FxMasterGuru (FxMasterGuru)
Dec 27 2016 at 07:14
1607 комментариев
carl54 posted:
The good Forex broker always makes sure security of funds, low transaction cost, easy withdrawal system, free demo trading, larges bonuses, lowest trading spreads, minimum margin requirement and much more real trading facilities that are very supportive to lead a flexible trading life with certainly.


Just add ''not using virtual dealer-plug-ins'' and you have the perfect non-existent Forex 'Unicorn' Broker... (i.e. from the fairy tales...)

If you were wondering where is the UNICORN on the image below, it is BEHIND the ''Fairy''... 😀 No, she is not the trader-girl from next door...



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Nina (NEEnah)
Dec 27 2016 at 12:09
71 комментариев
FxMasterGuru posted:
Just add ''not using virtual dealer-plug-ins'' and you have the perfect non-existent Forex 'Unicorn' Broker... (i.e. from the fairy tales...)


So you say there is no broker that does not use such a plugin? Sorry if I got your point wrong.

FxMasterGuru (FxMasterGuru)
Dec 27 2016 at 15:35
1607 комментариев
NEEnah posted:
FxMasterGuru posted:
Just add ''not using virtual dealer-plug-ins'' and you have the perfect non-existent Forex 'Unicorn' Broker... (i.e. from the fairy tales...)


So you say there is no broker that does not use such a plugin? Sorry if I got your point wrong.


Approx. 95% of brokers use such plug-ins on accounts trading below 50 lots (this specific info is from the owner of a broker). Also, they don't use plugins on long-term very profitable accounts as they can attach plugins only to ''B-booked'' accounts and it is not good business for them to ''B-book'' stable profitable accounts. Some brokers don't use plugins at all, but it is very difficult to find them.

Establishing pure ''non B-booking'' broker firms has become a ''niche'' market lately. These firms are mostly FCA regulated and based in the UK, and they are OK with making profits from commissions only, however, to collect enough revenues this way (i.e. just from commission), they have to have larger clients, so their minimum deposits are usually start at $5000. They are so-called ''boutique brokers'' catering to the needs of larger investors who need pure ECN/STP/DMA trading environment.

Forex EXPOs are FULL of vendors selling ''virtual dealer plug-ins'' to B-booking brokers and they are offering better and better tools for such brokers to skin their smaller funded and less profitable clients ALIVE. This is an introduction from the brochure of a vendor:



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HarriOshord
Dec 29 2016 at 13:41
19 комментариев
I thought this was a discussion for newbies, and you guys are already talking about more professional traders and brokers.


mlawson71
Jan 06 2017 at 11:51
1487 комментариев
Some good news for people trading with American brokers - The National Futures Association (NFA), the self-regulatory organization overseeing the activities of the US forex brokers, said its new rules on disclosure of transaction data have been approved by the Commodity Futures Trading Commission (CFTC) and will come into effect as of March 31, 2017. These rules will enable US retail traders to gain access to transaction data and to review the quality of execution. (https://www.forexbrokerz.com/news/US-retail-traders-to-have-greater-transparency-with-respect-to-transaction-data) Transaction data must be provided within 30 minutes of receiving a request.

FxMasterGuru (FxMasterGuru)
Jan 08 2017 at 08:24
1607 комментариев
HarriOshord posted:
I thought this was a discussion for newbies, and you guys are already talking about more professional traders and brokers.



I think the title is a little bit off... Why would a newbie deserve a different (i.e. worse) broker than a pro...?

Actually a newbie would need the BEST BROKER POSSIBLE from the very beginning not to become a victim of price and slippage manipulating B-booking 'virtual dealer plugin' brokers, making his first steps even more difficult... Not to mention outright scam brokers registered mostly on exotic islands with no regulations whatsoever...

Should anyone need a pure STP/DMA (i.e. ECN) FCA regulated broker with 50,000 GBP FSCS insurance and affordable minimum deposit, please PM me, or send direct e-mail to the address in my profile.

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fxstar88
Mar 07 2017 at 08:01
1 комментариев

Actually a newbie would need the BEST BROKER POSSIBLE from the very beginning


I Totally agree, that s why I just started with an ECN broker that I found on https://www.mrforex.com even if I think that is not the best broker according to some reviews afterwards, it s not a so bad choice for a beginner.

Baldo (BaldoN)
Mar 07 2017 at 09:44
522 комментариев
fxstar88 posted:

Actually a newbie would need the BEST BROKER POSSIBLE from the very beginning


I Totally agree, that s why I just started with an ECN broker that I found on https://www.mrforex.com even if I think that is not the best broker according to some reviews afterwards, it s not a so bad choice for a beginner.


Hello,
Just to add my 5 cents :)
I have a look over the list of brokers just on first page and from the top 10 and 8 of them are MM :)

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