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Best Broker and Platform?

  • #1
  • First Post: Nov 17, 2013 6:49pm Nov 17, 2013 6:49pm
Hello,

Im a newbie in trade business, especially Forex, i got an account at Etoro but i realised that exists far better services and more complete. But making a search at Google or checking investing.com there are several brokers / platforms / solutions and i have serious doubts witch one is better.

At this point i prefer to contact you, the specialists to get some feedback on the platforms you work with, its a way of helping me on choosing a better option than Etoro.

Probably it will help other with the same doubts.


Thanks in advance.
  • #2
  • Nov 17, 2013 6:58pm Nov 17, 2013 6:58pm
If you are really a newbie in trading, the very first thing before looking for a broker would be to learn trading.

You can start here : http://www.babypips.com

I would also suggest to open a demo with a MT4 platform through any broker in order to practise what you will learn within the next few months. Be aware that the learning process is usually long ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Nov 17, 2013 8:39pm Nov 17, 2013 8:39pm
Thanks FerruFx

Already checked that website, as several others.

I was going to open a demo account but i was thinking that i would like to open it on a good broker that suits me and when it think im ready to proceed go with the one i created the demo account. What do you advise?
  • #4
  • Nov 17, 2013 9:04pm Nov 17, 2013 9:04pm
Quoting jonnnie
I was going to open a demo account but i was thinking that i would like to open it on a good broker that suits me and when it think im ready to proceed go with the one i created the demo account. What do you advise?
Yes sure. It would be better to have the demo on the broker you will trade live.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • Nov 18, 2013 6:39am Nov 18, 2013 6:39am
Good, in that case any special advise or feedback to online brokers such as:

XM
OANDA
CTrader

etc....
  • #6
  • Nov 18, 2013 9:46am Nov 18, 2013 9:46am
Quoting jonnnie
Good, in that case any special advise or feedback to online brokers such as: XM OANDA CTrader etc....
Hi jonnie,

First one thing that is a must check is a broker's location/regulation. Brokers that are regulated by FSA(UK), ASIC(australia) or NFA(US) are usually more serious but of course there would still be criminals like the recent gtl trade up case http://forexmagnates.com/gtl-tradeup...up-down-under/ but still it is a lot better than trading through a start up brokerage registered at some uncharted island.

Go here http://www.100forexbrokers.com/ then check the dma part. I suggest you trade at icmarkets using their ctrader's platform. That would be the most ideal set up at the moment. Their mt4 is not bad too. So yeah your choice. Peace
  • #7
  • Nov 19, 2013 2:33am Nov 19, 2013 2:33am
Hey Jonnie,

I agree with Supertrader9, regulation is definitely one of the most important things, I tend to stick with the ASIC (Australia) brokers and more specifically I have experience with ICMarkets and Pepperstone, both have been great. You can try http://www.forexchurch.com/compare-forex-brokers.cfm and do an advanced search for any other features you would like and also check out live spreads, volumes and swap rates.

Regarding the choice of platform, personally I would go straight to MetaTrader 4, it is by FAR the most popular platform which is great if you have questions about it and also it allows you to use Expert Advisors (trading robots) and being the most popular forex platform, this means that there is an abundance of EA's around and new ones appearing all the time - plus if you are that way inclined, you can start programing your own EA's for MetaTrader quite easily
  • #8
  • Nov 19, 2013 4:33am Nov 19, 2013 4:33am
Hi Jonnnie (triple n?)
I am not a specialist in the meaning you asked but there are two ways to do it your self:
1. Find sites that rank brokers, like this www.100forexbrokers.com
2. Wait for another time, until you really know what you want from your broker. For me, several pips spread does not make a difference. I'd like loyal service, such as if I don't trade for a year, when I get back it takes just a minute to login again. Some brokers just lock your account.
  • #9
  • Nov 19, 2013 7:50am Nov 19, 2013 7:50am
Wow,

Very helpful community, thank you all.

I think im going to start comparing the various brokers with the tips i received from you, thanks again.
  • #10
  • Nov 20, 2013 2:06am Nov 20, 2013 2:06am
babypips for learning forex.
forex-ratings.com, FPA, earnforex to get brokers and their feedbacks.
bloombergs to read economic news

Hope they're helpful!
  • #11
  • Nov 20, 2013 6:02am Nov 20, 2013 6:02am
Already in my favorites, thanks:

 

  1. undergroundz

  • #12
  • Dec 12, 2013 9:16am Dec 12, 2013 9:16am
Quoting jonnnie
Hello, Im a newbie in trade business, especially Forex, i got an account at Etoro but i realised that exists far better services and more complete. But making a search at Google or checking investing.com there are several brokers / platforms / solutions and i have serious doubts witch one is better. At this point i prefer to contact you, the specialists to get some feedback on the platforms you work with, its a way of helping me on choosing a better option than Etoro. Probably it will help other with the same doubts. Thanks in advance.
I started with a demo account in Oanda
  • #13
  • Dec 12, 2013 4:46pm Dec 12, 2013 4:46pm
Jonnie,

you should go with a retail broker which directly routes your orders to their liquidity providers via ECN. The following broker do exactly that without having in-house dealers.

- IC Markets (TRUE ECN via integral, MT4, min lot: 0,01 lot, fair commission, fast execution time, NO STOP LEVEL)
- GlobalPrimce (TRUE ECN via integral, MT4, min lot: 0,01 lot, fair commission, fast execution time, NO STOP LEVEL)

The above two are regulated and global prime upon request even gives you receipts for all your trades and which Liquidity provider filled your order
They are the perfect choice in my opinion to start in forex with small funds.

then there is pepperstone:

- Pepperstone (TRUE ECN only with Edge razor, MT4, min lot: 0,01 lot, fair commission, fast execution time, 2 pip stop level)

Pepperstone is a market maker but only with the standard account, however the stop level is weird and true ecn shouldn't have that. So that would be clearly a red flag.

ICM and GB have absolute no red flags!

Hope it helps
  • #14
  • Feb 12, 2014 4:24pm Feb 12, 2014 4:24pm
Quoting linafx
{quote} I started with a demo account in Oanda
Oando is pretty not a bad choice, I eye them a lot along with Alpari. But am with Profiforex today because of something unique I found in them, and it is their execution speed, it is superbly fast!
  • #15
  • Feb 13, 2014 1:28am Feb 13, 2014 1:28am
There's nothing best. So just find out which broker that fulfill your trading requirements with forums, blog, forex rating and review sites,... I think you will get a good one.
  • #16
  • Feb 14, 2014 4:33pm Feb 14, 2014 4:33pm
Still one of my biggest headaches!

I am at a point where I can trade for a living & doing well at it but I still find myself wanting to change brokers every couple of months. Usually when I sit back & think that I can make more money if my current broker XM offered a bigger range. Besides this one complaint they are good!

My perfect broker would be CitiFX but because I am from South africa I am not allowed to have an account with them.

My perfect broker would have the offerings of 4XP (Resources incl Gold, Soybeans etc & ZAR & Index's & Shares)
Customer service of XM (my current broker & I am happy just wish they had a bigger selection)
Registered in UK or Australia (XM is Cypriot)
Low Spreads (XM's fees/spreads are very reasonable)
No deposit or withdrawal fees (XM does this, actions payout in almost immediately)

Any suggestions?

Thanks in advance!

  • #17
  • Feb 16, 2014 8:27pm Feb 16, 2014 8:27pm
Everyone seems to be concerned with bells & whistles sometimes, because I care about 4 major things, in no particular order. ( don't really care about software if its at least functional are mt4 since I m technical but not some savant using every indicator thought of ever... )
1. Execution - consistent reliable
2. Spreads - no reason to any more for a service than I need to
3. Safety of my funds! I prefer AU brokers for this reason.. at least they have segregated accounts.
4. Service - lots of the big brokers are really bad at this. If I want help, someone better be there and get my issue resolved. Plain and simple.
  • #18
  • Feb 17, 2014 5:54am Feb 17, 2014 5:54am
Hy guys!
This is my first post here and i'm a newbie in forex too. I trade with a small broker from my country, which doesn't use MT5, but i like to look at my candles on MT5 so i chose a broker from their list, choose a demo account, and look at the charts on MT%. The only problem is that i like to trade 4hr and 8hr candles that open at LONDON TIME, gmt 00. The only broker i found so far on MT5 that has candles that open at gmt00 is FXCM, BUT the problem is that I didn't find EURJPY or GBPJPY on their symbols list. And I would really like to trade those pairs. Do you guys know any broker that has candles that open at GMT00 and has at least EURJPY on their symbols list on MT5, or if I am doing anything wrong that i can't find EURJPY and GBPJPY on FXCM
  • #19
  • Feb 18, 2014 12:07am Feb 18, 2014 12:07am
Quoting Thweis
Jonnie, you should go with a retail broker which directly routes your orders to their liquidity providers via ECN. The following broker do exactly that without having in-house dealers. - IC Markets (TRUE ECN via integral, MT4, min lot: 0,01 lot, fair commission, fast execution time, NO STOP LEVEL) - GlobalPrimce (TRUE ECN via integral, MT4, min lot: 0,01 lot, fair commission, fast execution time, NO STOP LEVEL) The above two are regulated and global prime upon request even gives you receipts for all your trades and which Liquidity provider filled...
agree i trade with both and have no problem. very good support and feed on icm and global prime
  • #20
  • Feb 18, 2014 10:33am Feb 18, 2014 10:33am
Well, Tradestation definitely offer the best plattform and you can trade anything, fx, stocks options, more etc
Bulls are stupid Animals!especially when Im short!
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