Best Broker?

Laughing my A off. That's a good one. They just haven't been cleaned out yet. Best of trades to you!

I have wrote an extensive guide for choosing a broker, you can check it out here and let me know what you think: https://www.forexfactory.com/showthread.php?t=987254

I just want to speak of a recent experience I had with my broker during these extreme volatile times. I trade with AMP Global. This is not a recommendation nor do I want to bad mouth other brokers, but from what I heard on this forum and other forums is that people were waiting a long time trying to get thru to their respective brokers either via 'live chat' or by 'phone' and I had none of these issues... I got thru no problem. Was able to withdrawal funds. Service was good, which is what I expected. I wish everyone a good experience with their brokers, happy trading and stay safe in these trying times!

Hi!
How you think is this broker good for EU citizens? I live in Greece and want to trade with SAFE broker.
Will my money protected with FCA?

I found that Darwinex broker has a standard FCA license and it is suitable for talented traders to be funded

I hope talking about offshore broker is not out of question. I have been trading with turnkeyforex for a while. I am hoping to diversify my funds with another broker. Would love to hear the suggestion from anyone?

There is no doubt Darwinex is a solid regulated broker - however

Depending on trading methods traders need to be aware of the following

Toxic Flow : 20:50 - 24:00
Toxic Flow further explained -

Nah, relax you won't find arbitrage opportunities in retail forex. You are too slow. There is though an opportunity for latency arbitrage between brokers or trading some unique platform glitches, but it's mostly applicable for new brokers which grow quickly, improve and ban smart traders who try to exploit it. I tried swap arbitrage with Tickmill and Hotforex there is some edge but it's thin and unsustainable. You can't make a lot of money from it for long.

Sorry so much, you can explain what you mean by the video clip above. Because, I don't really understand it when I listen to English

Hi, i was looking for the same info and was in search for a good broker, did some search and found a broker that has popped up in several forums and sites, its called FP Markets, I'm not sure how good is this broker though having some good reviews would like to know if its actually a good broker or is it scam.

I'm not confident with brokers these days so please would you have any info about brokers.

Check with them if they make market for you on some instruments. If yes then you gonna have conflict of interest with them => almost impossible to be consistently winning with a broker on the instrument where the broker makes market for you. Keep that in mind when you look for trading edge (you may look for something which doesn't exist )

This is complex and you will get a proper understanding by asking a trader who's first language is same as yours and understands English very well.

Here simple explanation of small part of toxic flow - but maybe most important part for retail trader.

Xin chào @letstradefam Tôi gần đây đã thực hiện một loạt nghiên cứu về các nhà môi giới khác nhau để xác định những người tôi đã mở một tài khoản. Một điều mà tôi thấy một số nhà môi giới có điểm chung là có một giới hạn thời gian tối thiểu để mở và đóng giao dịch. Về cơ bản, một số don don cho phép mở rộng quy mô bên dưới, hãy để nói 2 phút. (Tôi quên con số chính xác vì tôi không phải là một người đầu cơ) nhưng khi bạn đọc các chính sách giao dịch của nhà môi giới, đó là 28 trang dài thông tin nhàm chán nhưng hữu ích, bạn sẽ tìm thấy những điều khó khăn và không phải của mỗi nhà môi giới. PHẢI ĐỌC các chính sách! - https://forums.babypips.com/t/toxic-...thods/204994/3

But in the case in the video a trade must be open for a minimum of 10 minutes.

Here more complex - use google translate to make in Vietnamese - https://www.risk.net/derivatives/575...s-old-problems

Why not? have you made proper execution& live spread & platform stability comparisons to claim the opposite?

That's really very important information for new traders like us.

Be far from Pepperstone
from my experience with them is usually give you too much high spread without any reason and its easy to close trading with product and keep your position hanging, you can't do any hedge or take any open position, the only thing you can do is close your position.

last week, I was trading with gold, the gold went down for 150 pips, I couldn't use that profit, I only got 50 pips, because the spread was 100 pips, it went down from 1600.00 to 1585, but because of 100 pip spread the bid was 1585 and ask was 1595

Another story, the Peppersone has their own time each week to stop trading

for example for Oil, and Indices, 3 weeks ago it disable to open new position before 1 hours from closing market, last two weeks, the made that disable before two hours from close the market, this week, they made is before 30 mins from close the market, and in each week, if you contact with live chat and inquire about the time to disable open new position, the live chat informing you that, "this week there is no disable of any product" !!!!, and you will surprised that the product is disable, which mean you can't open new position or make hedge for your position or increase it, the only thing you can do it close your position

Another story is with live chat, what every they inform you, don't believe them, they don't know any thing about what is going with company or accounts.

Be far from Pepperstone

Quoting FX2Life (https://www.forexfactory.com/showthr...4#post12867074)
{quote} I disagress with this. Choosing the right broker is one of the ingredients of sucess. No trade you make on spot forex go to the real interbank market, unless you have millions to trade which is a different story. If you are with an ECN broker your trades are taken by their LPs and if you are trading with a MM you are just trading against your broker and some or should I say a lot do play games, just like in a casino. This is why futures is the better route than spot FX. Trading/speculation shouldn't be easy. You SHOULD have capital if you...

[syndicat;12867167]{quote}
No trade you make on spot forex go to the real interbank market

How can you prove it?
How to determine the ECN broker? MM broker?
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Review-1
If you are with an ECN broker your trades are taken by their LPs ....

No trade you make on spot forex go to the real interbank market

Comment-1

How Trading Works - Interbank and the Forex - Source: https://www.fxstreet.com/education/f...e-200810240000

The forex market has many players, large and small................................ etc.....
Article concluding remarks below.

Myth #1: Direct access to the interbank market
Many dealers promise that they will give you access to the interbank market directly. What they want you to think this means is that you are getting wholesale pricing on your spread. Unfortunately, this isn’t the case. Regardless of your dealer’s specific arrangement with its broker banks, your dealer is still acting as an intermediary. Whether your dealer is filling your order itself using pricing data from its broker banks, or it's sending your order through so its broker banks can fill the order themselves, the access and pricing is the same. The dealer will still be compensated for that service and therefore the process will cost you.
Myth #2: No dealing desk
A dealing desk is the place at an institution where contracts are bought and sold. Your dealer may imply that by trading with them you will not have to work through a dealing desk, giving you better pricing. This is not true. It may be correct that your order won’t be handled by your dealer’s own dealing desk, but your order will eventually wind up on someone’s dealing desk at one of your dealer’s broker banks. If it is going to cost you the same amount of money in the end, does it matter to you whether your order is handled on your dealer’s own dealing desk or Goldman Sachs’ dealing desk? The dealer you work through and your dealer’s broker banks will be compensated for the service they offer, and it will be a cost to you.
Myth #3: ECNs are better than a dealing desk
ECNs are electronic clearing networks that list the orders from professional and retail traders in one place. This adds some nice transparency into where orders are listed, but the actual fills you will get are not usually any better than working with a dealing desk.
The idea behind ECNs is that it should be possible for a retail customer to save some money by setting a limit order in between the normal bid and ask spread. However, you can do the same thing using a regular dealer. Just because an ECN shows you that there are bid and ask orders above and below the current price of the currency pair does not mean that you have any better chance of being filled at one of those levels by trading through an ECN. Those same orders are influencing prices at regular dealers too, even if you can’t see them displayed.
ECNs are managed by clearing firms, which are similar to dealers. And just like dealers, the clearing firms that operate ECNs are looking to be compensated for the service they provide. That translates into a trading cost for you. Watch the video for a detailed visual explanation.

Comment-Phylo: This was posted at another thread that has a number of links to this thread - it is relative to above - see: Toxic Flow - https://www.forexfactory.com/showthr...8#post12851328

Foreign Exchange Interbank - https://www.investopedia.com/article.../interbank.asp

Review-2:
How to determine the ECN broker? MM broker?

Comment-2:

1. The litmus test*: https://www.forexfactory.com/showthr...4#post12524034 * a decisively indicative test.
2. https://www.investopedia.com/article...arketmaker.asp

Comment-Phylo: - It should be clear re ECN vs MM that ECN is ultimately the better option. However, regarding UK FCA regulated MM (and other reliable regulatory bodies) I believe the days of the broker highway-robber has largely been curtailed. Any MM must be able to sustain a certain amount of successful traders - and successful traders are far and few between. Some MM are larger than others and therefor can tolerate larger trader wins.
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Some notes on futures - https://www.forexfactory.com/showthr...4#post12261294

Note: - > Any disagreements welcome - however, I have no time for further comment - other priorities are at hand.