Feb 03 at 04:47
Harshalgibbs posted:
It is not that difficult to find an ECN broker that offers low spreads. Just make sure the broker has 0.1 to 3 pips and the spreads are flexible. I use XM and Fxview and I really like the spreads. The ECN account has a deep liquidity pool and competitive spreads.Even the leverage is high. Works very well for me so I stick to these.
I have used these brokers too. I think there are some things that you cannot avoid at any cost when you’re trading with a broker like the transaction cost, leverage, services, conditions etc. I’m not complaining but I haven’t had a good experience with a whole lot of brokers. I was scammed in the beginning and then there was some transaction issue with a few others. Fxview has really tight spreads and the competitive trading environment keeps me motivated. XM, Etoro and Forex.com go well for micro accounts.
Feb 04 at 06:17
I just started trading live and I have such similar questions. As of now I’m confused about whether it is important to trade with a domestic broker or offshore regulated brokers are good too? Any suggestion will do.
Feb 04 at 07:51
Ericdier752 posted:
I just started trading live and I have such similar questions. As of now I’m confused about whether it is important to trade with a domestic broker or offshore regulated brokers are good too? Any suggestion will do.
Be it STP or any account type, just go with brokers that are trustworthy and look after your trading needs. At first I fell for a fixed spread broker that was charging high commissions. That caused quite an imbalance to my money management and the profits were also bad. I started reading and then realised it is better to look for a variable spread broker. I switched right after.
Feb 05 at 04:59
@Eric Make a list of brokers you want to trade with and compare their spreads. Whatever suits you, go with it. Simple as that.
Feb 05 at 10:47
I have an ECN account too. The ECN brokers usually have low or tight spreads because it increases the possibility of making more profits and that ultimately benefits the traders. So there is no point in paying a broker more. If the spreads are low and transaction cost is minimal, I say go for it.
Feb 06 at 05:57
Hi. you can simply check if your broker is regulated or not. IC markets, Plus500, Fxview are some regulated brokers and there are multiple benefits of using such brokers. I will list them for your understanding and you should use them because there is:
Safety of investment
Availability of compensation
Safety from getting scammed
Timely risk warning by the broker
Margin calls
Transparent trading operations
Safety of investment
Availability of compensation
Safety from getting scammed
Timely risk warning by the broker
Margin calls
Transparent trading operations
Feb 06 at 06:21
Chrismorris657 posted:
Hi. you can simply check if your broker is regulated or not. IC markets, Plus500, Fxview are some regulated brokers and there are multiple benefits of using such brokers. I will list them for your understanding and you should use them because there is:
Safety of investment
Availability of compensation
Safety from getting scammed
Timely risk warning by the broker
Margin calls
Transparent trading operations
Wow that is some good insight. Thanks.
Feb 06 at 06:22
Garrychris554 posted:
@Eric Make a list of brokers you want to trade with and compare their spreads. Whatever suits you, go with it. Simple as that.
I tried doing that but couldn’t figure it out like that. I think working on demos is a better way. There is no possibility of losing and the worst case scenario is blowing up an account which I think is a part of the learning process. I have little experience with trading but I keep trying so...
Feb 06 at 11:54
Chrismorris657 posted:
Hi. you can simply check if your broker is regulated or not. IC markets, Plus500, Fxview are some regulated brokers and there are multiple benefits of using such brokers. I will list them for your understanding and you should use them because there is:
Safety of investment
Availability of compensation
Safety from getting scammed
Timely risk warning by the broker
Margin calls
Transparent trading operations
Why would you recommend plus500?
Feb 08 at 04:03
Ericdier752 posted:Garrychris554 posted:
@Eric Make a list of brokers you want to trade with and compare their spreads. Whatever suits you, go with it. Simple as that.
I tried doing that but couldn’t figure it out like that. I think working on demos is a better way. There is no possibility of losing and the worst case scenario is blowing up an account which I think is a part of the learning process. I have little experience with trading but I keep trying so...
I agree that demo trading is a good way of testing your skills without having to worry about blowing your account. You can apply different strategies on your demo account and find out whether they are worth applying on your live account or not.
