Is there ANY legitimate broker?

Hey Guys,

I am a complete Forex noob. I have been reading for several weeks now and I want to open a demo account somewhere.

My problem is choosing a broker.

Every single one I read about has a thousand horror stories about the slippage or the spread or they won't let you take your money out, or this or that or bla bla bla.

Everytime I think I have finally found a good one I immediately find a hundred bad reviews of it.

What is a newbie supposed to do? It really makes me think the entire Retail Forex market is a big scam. (Maybe there is a reason why most people have never heard of retail forex or making money from it)

Can anyone recommend me a broker that
-uses MT4
-trades micro lots (no way I am putting serious money into this yet)
-will actually let me take my money out if I earn it?


and please don't turn this thread into another
"-person A recommends a broker
-persons B though Z spend the next 40 posts flaming person A for recommending said broker."

That is why I am posting this thread because that is what every other thread about choosing a broker has turned into that I have seen. So please don't tell me "search through the forum" before I ask. Because I did.

Thanks for any advice,

Rebtl

If you only want to open a demo account it shouldn't matter who you use. You can take your time and review them all while you practice. Not sure if I can recommend other websites or not, but try googling forex broker reviews and see how you fare. . .

Agree with previous poster; do the google search as he said, and you'll find plenty of review sites; no need to just stick with what's here. Finding a decent forex broker is research that ALL forex traders have had to go through.

But just a tip for you for what it's worth: since you are asking for help, I'd suggest not trying to place so many demands on how people might respond ("don't do this, don't do that, don't tell me to search this," etc.). Better to just ask for info with the floodgates wide open, and then take the info you get for what it's worth. As it is, you might turn some people off since they don't want to be chided for "violating" one of your posting rules

But in all seriousness, do your research like everyone else, and you'll know before long who the decent brokers are and who to stay away from...

Best wishes

I have to agree.
If I knew of the world's best broker, I wouldn't tell him, after that opening post.

I suggest you take a look at FF's preferred brokers for example, try the demos, have a chat with the brokers' representatives and ask them what you need to know, don't wait for others to chew it up for you You should see by yourself which one works for you if you want to avoid any conflicts in the threads.

Interactive Brokers and ATC Brokers champ.....

Pick one. Makes no difference which demo you go with. Look at the list of recommended brokers here on the site. Pick one. Just pick. Makes no difference at all. LINK


And I will virtually guarantee that the problem is the trader himself. Here - please read this from Darkstar. It will explain. This is required reading. Read it until you understand it. LINK


There are some good brokers and not so good. All of them have what is called a "Business Model" designed to attract a certain kind(s) of trader. Some have great execution, some have great Support. Stick to the list of recommended brokers. The real problem is that there are traders who will not own up to the their own losses. They will be continuous losers until they do.

So, you are to do this - Take a good year learning and demoing. Learn Price Action. Read carefully James16 thread. There are some terrific traders on it, and some of them are very good at teaching too. (Did you catch that?) Learn and ask questions. Start reading the first 20 or so pages, then go here: LINK and continue. Post number 23250. Follow the advice given by James16 in his first post and you will do well. Skip it and the market will drain your account fast.

People lose because they do not treat this as a business. People lose because they think they can take skills from their daily lives and apply it in the market and win. People lose, because they are not patient to learn how to win. It takes time, but time is on your side - use it to you advantage.


Pick from the list. Of course if you put a nickel ina live account you are being foolish with your money. There is much to learn first.


Welcome to the Internet my friend.


And what did you learn? The choice is yours. Ask better questions - like "How can I be successful trading", or, "What do I need to learn and how will I know I've learned it to be successful trading?" Picking a broker is pretty easy compared to what you are really up against.


Most people ignore the best advice given here. Do not be one. Your question is not the important one for you. Learn first how to trade, then worry about a broker. Then it will be easy to figure that out.

There are good traders here who will help you. But you have to make yourself available to be helped. It will also take a little time to figure out who they are, but I gave you a real strong clue about where some of them haunt.

Your success rests firmly in your own hands. I wish you well.

acm is ISO 9001 certified and ISO 27001 too. This is no piece of cake, that is why I feel safe with them, and the fact that they are going to be bank is even better

I agree that ATC is one of the best so far. I spoke with david, the owner, last night and he assured me that they keep a very close eye on FXCM to ensure there's no hanky-panky going on. The only issue they (ATC) are having with FXCM at the moment involves using an "EA for trading the Asian market." They noticed some slippage going on in that area (don't ask any technical details, 'cause I don't know any). Other than that issue, ATC has been running just great with no slippage, requotes, etc. I like them.

=Ed=