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Best Broker?

  • #461
  • Nov 14, 2020 4:40am Nov 14, 2020 4:40am
Quoting lucamertens
How can I choose the best broker? There are so many brokers offering same conditions.

I´m on the same boat.

Too much information and at the same time very specific, becaouse of location, legislation, spreads, etc..
  • #462
  • Nov 16, 2020 2:50am Nov 16, 2020 2:50am
FP Markets is a broker with low spreads. That low spread is the concern of every trader. FP Markets also has Asic and Cysec licenses and one offshore
  • #463
  • Nov 16, 2020 3:08am Nov 16, 2020 3:08am
Quoting kavanto
FP Markets is a broker with low spreads. That low spread is the concern of every trader. FP Markets also has Asic and Cysec licenses and one offshore
Are they true A-Book though? Spread doesn't really matter 2 hoots if the broker is trading against you.

Try asking them outright, "Are you A-Book or B-Book?"
  • #464
  • Nov 19, 2020 5:11am Nov 19, 2020 5:11am
Quoting jheprivate
{quote} Are they true A-Book though? Spread doesn't really matter 2 hoots if the broker is trading against you. Try asking them outright, "Are you A-Book or B-Book?"
they will answer A-Book. This is only known by many experiences. Test first and find out first, if they believe they say.
  • #465
  • Nov 19, 2020 6:05pm Nov 19, 2020 6:05pm
Hello, I am new to trading, please can you suggest secure and good brokers?
  • #466
  • Nov 23, 2020 1:23pm Nov 23, 2020 1:23pm
back in the day I got some pretty darn good advice on picking a broker. Ill share it here

Picking a broker is not easy, and most retail traders only spend a few minutes picking one, mostly based on glossy advertising or 1000:1 leverage.

Do your due dilligence, this link is a good start:

https://www.cftc.gov/sites/default/f...ber%202020.pdf

If the broker you are thinking about does not list its capital with the CFTC, would you really want to deposit your funds with them? Check with the local regulator at least for their capital requirement reports.

Next step is to make sure your broker is properly regulated, and I mean with one of the big regulators, not some dodgy one on a Caribbean island somewhere.

The next step is calling that regulator to make sure they have a good record. Check each and every action against them.

The next step is finding out the liquidity providers, do your due dilligence on them, at least call them and check their record with the regulators.

The next step is checking on the corporate side of the business, get a credit report about them from one of the big leading credit agencies.

The next step is calling or visiting them and talk to them.

The next step is opening a small live account and see if your trading style suits their platform/ spreads/ etc

You guys would be shocked at how taken aback many brokers will be if you simply ask them for their financials or a list of their regulators or(heaven forbid!) who their liquidity providers are. If they wont willingly give you this information then my advice is RUN.


Do your due dilligence or else live with the consequences, just don't come here complaining on these forums about some dodgy broker, if you had gone about your business the right way, you wouldn't be with a dodgy broker in the first place.

Are all the big regulators perfect? Of course not, you will have problems with them, at least you have somewhere to go if you can't get it resolved and a broker with a 100 Mn in capital is not going to run of with your 500 bucks.
  • #467
  • Nov 24, 2020 9:30pm Nov 24, 2020 9:30pm
Totally new to Forex and CFDs here. I was wondering if anyone knows what actually happens after a trader clicks the buy or sell button. How does the Broker facilitate the trade? In dealing with CFDs, you are not actually buying the underlying instrument, but entering a contractual agreement with your broker in relation to its fluctuations in price. I come from an options trading background and I can't wrap my head around how CFD transactions are supposed to work.

There is a margin involved in FX and CFDs. Does the broker lend this amount to the trader for the entire duration of the trade? Where does your order go? Does your broker take on the risk by actually buying the instrument and pass the profit and loss to the individual trader?

Thank you in advance to all those who answer and are willing to share their knowledge.
  • #468
  • Nov 24, 2020 10:21pm Nov 24, 2020 10:21pm
I am with OCTAfx.
I know they are unregulated broker.
For customer support they are good.
Withdrawal is good.

Local bank transfer???
No swap???
Makes me happy but worry at the same time.

But still.
They are unregulated broker.
Cause I am a penny trader.
Makes me stay.

I will try another broker.
May be axitrader.
Still in looking broker that acceptable in my heart.
  • #469
  • Nov 25, 2020 12:16am Nov 25, 2020 12:16am
I am trading with Tickmill for years now and it is my favorite FX broker. Tight spreads and low commissions on ECN accounts. Withdrawals are quite fast, although they are not automated. If you can, register to the Seychelles branch so you can have the 500:1 leverage without being classified as "professionnal".
  • #470
  • Nov 25, 2020 12:52am Nov 25, 2020 12:52am
I guess for penny trader the best option is trade with 2 market maker shop at the same time.....

And have a dream having LMAX account in future.
  • #471
  • Nov 25, 2020 8:39am Nov 25, 2020 8:39am
Hi guys... I have a question to ask you all

Has anyone here used Eagle Fx before?

If yes how Good are they?
  • #472
  • Nov 29, 2020 7:34pm Nov 29, 2020 7:34pm
anyone knows where i can trade futures having option to see the DOM using metatrader 4?
  • #473
  • Nov 30, 2020 6:45am Nov 30, 2020 6:45am
Quoting Akwin
Hello, I am new to trading, please can you suggest secure and good brokers?
For a beginning, you can test the demo and then start with a small account with one suitable broker. There are a few good ones you can check IMO: ICM, fxview and pepperstone.
  • #474
  • Dec 2, 2020 5:43am Dec 2, 2020 5:43am
Best word is more of a myth for me. Cannot decide on a single broker, until and unless one has given it a try with multiple brokers.
So explore two or more brokers and compare the trading conditions before going live. Some that I would suggest are turnkey forex, lmfx.
  • #475
  • Dec 2, 2020 7:18pm Dec 2, 2020 7:18pm
Quoting Vinagre
{quote} Hello People. I´m new to trading too. I´ve been working in an Algorithm and need more backtesting but it turne that i´m starting to find that i decent broker is like finding Scarlett Johansson in WallMart. Can anyonoe sugest me a decent broker for Portugal (Europe) ? The algorithm looks really promising. Just a sugestion, please, from someone more experienced in this world? Specially an European Trader Thanks
you may try FCA brokers, but for retail clients, the leverage was limited to 30:1.

check valutrades, ecn mode, with low spreads and low commissions.
Forex, my love!
  • #476
  • Dec 7, 2020 10:47pm Dec 7, 2020 10:47pm
hello guys, i try to find may be something special

- MT4 or MT5 broker with Raw/zero/low spread with commissions
- only for DAX, no forex
- for EA trading

currently i have standard account in IC Markets, 1pip spread in standard trading hours, its mean 25€/1 big lot (1pip=25€)
they have Raw account, but what i have feedback from their chat - 1pip spread and no commissions for Dax, only for forex, looks same like standard account

thanks for your time
  • #477
  • Dec 8, 2020 12:49am Dec 8, 2020 12:49am
I don’t know about the best broker since we all have different requirements to look for in a broker, but I believe that turnkey forex is one of the better brokers I have been trading with, low spreads with timely withdrawal. Recently they reduced the comm to $2/lot both sides and allow crypto trading.
  • #478
  • Dec 8, 2020 6:10pm Dec 8, 2020 6:10pm
I think it is hard to pinpoint the best broker because their are literally thousands of them.

I do like the brokers who execute trades the fastest however how can I say this is faster than the other without testing them all. I also like the fx brokers who execute the stop losses all the time.
  • #479
  • Dec 23, 2020 9:25am Dec 23, 2020 9:25am
Quoting Wulfgar
The next step is opening a small live account and see if your trading style suits their platform/ spreads/ etc
Good to see you still kickin. I have not found a broker where I don't have at least some problems trying to trade lots of options. I mean, when you are going in/out of spreads on many (dozens?) of positions. Some of the big-name "discount" brokers have been the worst. Some of the worst sh^t is their software re-stacking the spread legs so as to (so they say) "optimize your margin allocation". F^ck that.

Anyway, hope all is well, Merry Christmas, Peace.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #480
  • Dec 27, 2020 10:18am Dec 27, 2020 10:18am
I just hope the incident happened to Alpari UK won't occur again.
Period.

I'm doing research too. I can say withdrawals from FxPro and XM are both smooth, but the spreads aren't nice.

Thanks to all who give suggestions.

Merry Christmas!
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