LeviSievwright5 posted: If the broker does not provide the right service, it is never possible to achieve success. So it is very important to consider the details of the broker before choosing a broker.
The best broker is a broker which does not restrict any kinds of trading techniques with scalping and hedging. a best trading platform for all time make sure best trading environment for using any kinds of trading techniques by providing lowest trading spreads as well minimum margin requirements. so when choosing a broker we the traders have to be more careful.
Couple of options out there but all I’d suggest to you is go with some broker who is regulated and is offering good trading conditions. I’ve been with a few in the past and its been a rough ride with some. Finally with fxview and this broker is kinda pretty good till date, tight spreads, low on commission and timely withdrawals.
Here’s my checklist for picking a broker: Low spreads and commissions:No matter which trading strategy you adopt, you would want to save on your trading cost. Some that I know who offer low spreads are a) pepperstone with average spread of 0.16 pips b) fxpro with average 0.45 pips c) turnkey forex with average 0.10 pips d) fp markets 0.45 pips.
However during highly volatile trading hours, the spreads with all these brokers can even go down to 0.0 pips.
Micro lots: Most brokers I mentioned above offer a smaller trade size of 0.01 lot which is ideal for beginners. You can even use leverage and observe how your trade gets affected without risking a whole lot of your capital. So that’s gonna vary with every broker. Regulations: it is very important to use a regulated broker as you will eliminate at least the chances of getting scammed. Good customer support: As a newbie it’s very important to use a broker that is responsive. Don’t go for one that doesn’t have a live chat option.
After this, all you need to do is make sure your broker offers the currency pairs and indicators that you like most!
My choice is pretty simple and I am sure most of the traders will agree with me. If a broker is simply regulated, has better support who responds you timely and offer decent conditions then you can think of choosing them after researching about them thoroughly. However, with all these facilities also, one’s experience may differ but to my experience, I have been trading with fxview all this while and they fulfill my trading needs perfectly.
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