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Best broker for mini accounts

  • #1
  • First Post: Aug 18, 2009 10:02am Aug 18, 2009 10:02am
I知 just about to open a live mini account; but after reading all the post here on the forum I知 hesitant to do it; I知 using FXCM UK demo and I was going to open the account with them but after reading all the fees they charge to costumers for different transactions I 僧 rethinking what to do; I would fund the account using my debit card. I would also withdraw funds if have profits on a regular basis. I知 a day trader. What would be the best broker for such style of trading and account?
  • #2
  • Aug 18, 2009 11:07am Aug 18, 2009 11:07am
You may wish to "shop around" as we can not give recs here. But, like in my case, you may want to have different brokers for different purpose. For eg, I have one for futures, one for scalping, one for day trading etc. Also you may want to have a broker who gives you some bonus to start with so you can trade "free money" so to speak in the beg till you get more experience. Good luck.
  • #3
  • Aug 18, 2009 11:57am Aug 18, 2009 11:57am
Quoting opufo1
I知 just about to open a live mini account; but after reading all the post here on the forum I知 hesitant to do it; I知 using FXCM UK demo and I was going to open the account with them but after reading all the fees they charge to costumers for different transactions I 僧 rethinking what to do; I would fund the account using my debit card. I would also withdraw funds if have profits on a regular basis. I知 a day trader. What would be the best broker for such style of trading and account?
Are you referring to FXCM UK withdrawal fees?
  • #4
  • Aug 18, 2009 12:20pm Aug 18, 2009 12:20pm
If your trading style does not need more than 50:1 leverage then go with Oanda.

For more info on them do a search.

Great broker, just low leverage.
  • #5
  • Aug 18, 2009 1:50pm Aug 18, 2009 1:50pm
Hi Jason Rogers
I'm referring to FXCM UK branch; I'm trying to avoid the new regulations here in the USA; because it seens to me a little more complicated than before.
  • #6
  • Aug 18, 2009 5:54pm Aug 18, 2009 5:54pm
All i know is that as a beginner, it is preffered to start with a lower leverage irrespective of the broker. or else you can choose marketiva.
forexpillariscipline & patience Trader
  • #7
  • Aug 18, 2009 6:43pm Aug 18, 2009 6:43pm
I'll thow my hat in for GFT. My broker offers mini accts with starting deposit of $250. Has no fees. Deposit and withdrawals using debit card. Has 3 trading platforms offered for the way you trade. Offers 400:1 leverage. Is in compliance with the NFA. You'll experience very little downtime. And I speak from experience.
  • #8
  • Aug 18, 2009 9:38pm Aug 18, 2009 9:38pm
id recomend a broker with low starting deposit, and nano lots, like ibfx, 250 to start, or was

if you choose to have ur withdrawal a mailed check, its free, otherwise it cost, well theres a ibfx debit card u can get, spend money from trading account

if ur a newb, or only a few yrs experience, u need a broker u can trade 1 cents
i dont know of other brokers, iv only had ibfx, but i am a coder, theres not many brokers that let u trade a penny
i can say iv had no problems, iv had my account for 5 yrs
theyre always getting faster, better, the live account for me is much faster than demo
so dont judge by demo, i dont use a demo
but when i did, there demo realy sucks

it takes yrs to learn, atleast it did for me, start small
good luck with ur mini account
  • #9
  • Aug 18, 2009 9:52pm Aug 18, 2009 9:52pm
Quoting trendchaser
id recomend a broker with low starting deposit, and nano lots,t
Oanda account you can start with a dollar.

you can trade as low as 1 unit (100 units = 1 penny / pip)

Also they still have stop loss and take profit.
  • #10
  • Aug 18, 2009 10:01pm Aug 18, 2009 10:01pm
iv never tried oanda, i spent so many yrs learning mql, i cannot leave mt4, i gotta have my ea n scripts

so u mean u can trade 1 100th of a cents?
that seems a little execessive

well anyway, the best answere is to share the experience youv had with the brokers you used

iv only used 1

Quoting Pip Ventures
Oanda account you can start with a dollar.

you can trade as low as 1 unit (100 units = 1 penny / pip)

Also they still have stop loss and take profit.
  • #11
  • Last Post: Oct 4, 2009 2:12pm Oct 4, 2009 2:12pm
Quoting trendchaser
id recomend a broker with low starting deposit, and nano lots, like ibfx, 250 to start, or was

if you choose to have ur withdrawal a mailed check, its free, otherwise it cost, well theres a ibfx debit card u can get, spend money from trading account

if ur a newb, or only a few yrs experience, u need a broker u can trade 1 cents
i dont know of other brokers, iv only had ibfx, but i am a coder, theres not many brokers that let u trade a penny
i can say iv had no problems, iv had my account for 5 yrs
theyre always getting faster, better, the live...
trendchaser i was curious about ibfx , i really wanted to join them but then i heard so many bad reviews about their misquotes and them playing with quotes and spreads. i just read bad review after bad review. can you go into deep detail about them please thanks.
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