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Please help to choose a good broker

  • #1
  • First Post: Dec 22, 2010 9:41am Dec 22, 2010 9:41am
Hi, I need an help in choosing a broker.
I want to open an account as follow:

- base currency: Euro
- initial amount: 500,00 Euros
- platform: Metatrader
- decimals: 5
- lot size: microlots

Which are your preferred brokers with these parameters?
Thank you
  • #2
  • Dec 22, 2010 10:42am Dec 22, 2010 10:42am
Quoting Alberto_Jazz
Hi, I need an help in choosing a broker.
I want to open an account as follow:

- base currency: Euro
- initial amount: 500,00 Euros
- platform: Metatrader
- decimals: 5
- lot size: microlots

Which are your preferred brokers with these parameters?
Thank you
Alpari
  • #3
  • Dec 23, 2010 4:04am Dec 23, 2010 4:04am
Quoting Alberto_Jazz
Hi, I need an help in choosing a broker.
I want to open an account as follow:

- base currency: Euro
- initial amount: 500,00 Euros
- platform: Metatrader
- decimals: 5
- lot size: microlots

Which are your preferred brokers with these parameters?
Thank you
My vote will be for more than one broker. I have experienced them and all are good enough to be used.

1. dbFX.com
2. Varengold
3. MIG Bank
4. FXCM UK
5. Alpari UK

All are equally good, financially sound and to me reliable brokers.
  • #4
  • Dec 23, 2010 7:41am Dec 23, 2010 7:41am
i like Alpari UK, they have a user forum http://forum.alpari.co.uk/ so you can check them out based on actual/existing users' experience, rather than various internet forums where people just complain after a stop is hit.
  • #5
  • Dec 23, 2010 7:47am Dec 23, 2010 7:47am
A few I've experienced that are decent - fxopen, alpari, fxcm
  • #6
  • Dec 23, 2010 9:55am Dec 23, 2010 9:55am
You're requirements are pretty much on par with very Metatrader based broker. So it should be hard to find one.

The most popular choice would probably be: Alpari, IBfx, Forex.com, FXCM, etc etc etc ...
  • #7
  • Dec 23, 2010 10:12am Dec 23, 2010 10:12am
this is good source that you can find best Forex Brokers that offer micro account

http://www.fxstay.com/micro-forex.html
  • #8
  • Dec 24, 2010 3:47am Dec 24, 2010 3:47am
Quoting Alberto_Jazz
- initial amount: 500,00 Euros
with 500 euro i think you should trade with nano micro lots .
  • #9
  • Dec 24, 2010 1:17pm Dec 24, 2010 1:17pm
Hi, I'm with MB Trading ECN MT4 account and so far they seem to be working well for me.

Like you I read and re-read many different opinions so no matter which broker you choose they will have detractors and advocates. That said the few that kept coming up as in the "better" group was, not in any order:

1. Interactive Brokers ECN
2. MB Trading ECN
3. Dukascopy ECN

I decided on MB Trading as for my style I preferred to place my trades via MT4 yet within a ECN environment. But don't believe a word I say, practice due diligence and contact each broker directly yourself. At the end of the day its your money on the line. At least then you will have a sense of their customer service skills...............Hope this helps a little.....
  • #10
  • Dec 26, 2010 2:15pm Dec 26, 2010 2:15pm
Hi guys.
Can someone give some good advice for a broker that looks like this:

- MT4 platform
- honest brokerage service (not like Investtech or other random bucket shops)
- low spreads on EURGBP and EURCHF (under 2 pips)

I am trading during the asian session, it's pretty much a night scalper EA.
Low spreads are vital, I don't care about commission charges as long as the spreads are tight. Thanks.
  • #11
  • Dec 26, 2010 10:00pm Dec 26, 2010 10:00pm
Quoting ScalpeX
Hi guys.
Can someone give some good advice for a broker that looks like this:

- MT4 platform
- honest brokerage service (not like Investtech or other random bucket shops)
- low spreads on EURGBP and EURCHF (under 2 pips)

I am trading during the asian session, it's pretty much a night scalper EA.
Low spreads are vital, I don't care about commission charges as long as the spreads are tight. Thanks.
Sorry, I can't recommend anyone because you put 'MT4' and 'honest broker' in the same sentence. Theres no such thing as an 'honest MT4 broker'.

Its like Santa Clause, the Easter Bunny, and Hue Jackman ... they don't exist.
  • #12
  • Dec 27, 2010 2:27am Dec 27, 2010 2:27am
Quoting Alberto_Jazz
Hi, I need an help in choosing a broker.
I want to open an account as follow:

- base currency: Euro
- initial amount: 500,00 Euros
- platform: Metatrader
- decimals: 5
- lot size: microlots

Which are your preferred brokers with these parameters?
Thank you
I use Go Markets. I think they have Euro accounts, but I only use AUD being in Australia...
  • #13
  • Dec 27, 2010 3:11am Dec 27, 2010 3:11am
Quoting Jhig
Theres no such thing as an 'honest MT4 broker'.
What is the reason of your sentence?
Do you think there isn't a no dealing desk broker?
  • #14
  • Dec 27, 2010 3:15am Dec 27, 2010 3:15am
So, I seem it's better to open an account with a UK broker, thanks to the FSCS.

It's very strange that NFA and CFTC doesn't require a compensation scheme for their members.

Segregated accounts are not so important: if the broker goes bankrupty the accounts became frozen, is it correct?

Thank you!
  • #15
  • Dec 27, 2010 4:29am Dec 27, 2010 4:29am
Quoting Alberto_Jazz
What is the reason of your sentence?
Do you think there isn't a no dealing desk broker?
read the case about NFA's action against Forex.com or Gain Capital. the details showed how dealers use MT4 to work against you .....
Attached File(s)
File Type: pdf attachment.pdf   771 KB | 694 downloads
  • #16
  • Dec 27, 2010 5:38am Dec 27, 2010 5:38am
Quoting Jhig
Sorry, I can't recommend anyone because you put 'MT4' and 'honest broker' in the same sentence. Theres no such thing as an 'honest MT4 broker'.

Its like Santa Clause, the Easter Bunny, and Hue Jackman ... they don't exist.
Maybe some ECN broker with a bridge to MT4 like Dukascopy...?

I know that MT4 is a crap platform for many good reasons, but that's the only place where my scalper works right now...
  • #17
  • Edited 6:18pm Jan 3, 2011 6:07pm | Edited 6:18pm
Quoting MRmojtaba
this is good source that you can find best Forex Brokers that offer micro account

http://www.fxstay.com/micro-forex.html
This is nice list but you need somethin with all new comers and oldies reputation and comparsion with real accounts... That would save a lot of ppl testing time and money btw.

397 brokers review in forexpeacearmy.com

334 brokers list in forexbrokerguide.com

300 broker database in forexfounders.com

200+ search in 100forexbrokers.com

100+ comparsion in earnforex.com


But even those wount help you cause ECN, spread, comission, min lot, deposit things get beginners quite confused at first and there is no reliable info

Real forex brokers comparsion database anybody???
  • #18
  • Jan 3, 2011 7:06pm Jan 3, 2011 7:06pm
Quoting joss24
Real forex brokers comparsion database anybody???
There is no such thing. All those "broker reviewing" websites are highly unreliable. They are full of affiliates, people working for brokers who will give good reviews to their brokers and bash other brokers, and most of all: clueless newbies.

Quoting Alberto_Jazz
Hi, I need an help in choosing a broker.
I want to open an account as follow:

- base currency: Euro
- initial amount: 500,00 Euros
- platform: Metatrader
- decimals: 5
- lot size: microlots

Which are your preferred brokers with these parameters?
Thank you
With that initial amount, I would say MBTrading or Oanda.

But since you need Metatrader (which in my opinion is the losers' platform of choice btw, no offense), that leaves us with MBTrading.
  • #19
  • Jan 3, 2011 10:10pm Jan 3, 2011 10:10pm
Quoting Marv
There is no such thing. All those "broker reviewing" websites are highly unreliable.

But since you need Metatrader (which in my opinion is the losers' platform of choice btw, no offense), that leaves us with MBTrading.
Brokers can be still tested and listed whatever ppl say about them. Problem is more that advertisements are not real and actually include hidden comissions/fees.

Sorry about the offtopic but im more interested why MT is loosers platform?
Is is really so slow that if u write a code to make order after 3 trend moves in 1 sec and cancel order if no profit it still ends up in loss -5pips or more?
  • #20
  • Jan 4, 2011 12:21am Jan 4, 2011 12:21am
Quoting joss24
Sorry about the offtopic but im more interested why MT is loosers platform?
Is is really so slow that if u write a code to make order after 3 trend moves in 1 sec and cancel order if no profit it still ends up in loss -5pips or more?
http://www.forexfactory.com/showpost...5&postcount=15
Read the pdf case document, where a MT4 operator was fined by NFA. The post is just above in this thread.
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