Can anyone recommend a reliable Broker?

I used to work at IG. They are pretty good and are the largest CFD broker in the world. They keep client profits and funds separate, listed on the ftse and have a large amount of fx/ all other markets to trade.

hi,
what is your fx tading platform?
their dma web platform is very slow.

IG. There probably are quicker platforms out there but I trade all markets and they have a good range. I trade 1-6 month time frames so speed isn't high up on the list for me.

Hi mankindeg,

if your main aspect is to have a trusted broker than you are on the right direction already and have some knowledge. What is still important? Leverage? Min. deposit? Your citizenship however can have a great influence on where you are able to open an account and where not.

All the best,
IBO

I guess that's a good idea. VIP status allows you to trade without any comission and with any volume of lot, for example this one.

Yes,

I also considered the VIP account of my current broker (vinson financials) and it has 1 pip spread advantage, they have this to the $5.000 deposit. Wish they could offer this to all lower fund accounts.

Brokers who I've enjoyed trading with: Darwinex, LMAX, Dukascopy
Broker who I currently trade with, and have only positive things to say about them: Pepperstone

Scam Broker: Tickmill - I was executing identical trades on numerous "ECN" Accounts on the same VPS (Using EA's) yet receiving delays of 3-5 seconds on both the entry and the exit of trades. Causing massive slippage on many of the accounts, it was extremely rare to see the same price/time on identical trades when comparing Account Statements.

A good way to test out a broker is opening two or more accounts with them, and applying the same trading strategy on all the Accounts. If you notice major discrepancies between executed price and time of entry/exit... you know your broker is scamming you. Another thing to consider is regulation, Tickmill is regulated by some organization off the Coast of Africa ... I fell for the "cheap" trading costs and low spread B.S only to find out that even with low trading costs these guys were cheating me on the majority of trades, not to mention their staff's English on average was equivalent to a 5 year olds (they cheap out on hiring fluent English speaking Staff)
On none of my other Brokers have I experienced such blatant scamming.

When selecting a Broker always consider the Regulatory Authority in charge. And once again I highly recommend that everyone try out the "Account Test" described above you can easily see the performance/consistency of a Broker by doing so.


Best of Luck!
Rparm

Hello!
I'm new to this business. I would like to know what young brokers can you advise?

dukascopy. Let swiss keep your money. but minimum deposit is 5000$

Large deposit. Maybe there is something a more advantageous? I would not want to lose just as much money.

yap yap yap


[quote=Ezreal;8450882]Yes, I also considered the VIP account of my current broker (vinson financials) and it has 1 pip spread advantage, they have this to the $5.000 deposit. Wish they could offer this to all lower fund accounts.[/

I will not recommend any broker by name . I will share just qualities of a good broker so that you can join them confidently. Reliable. should be regulated by any recognized authority . there should be no slippage or re-quotes in trading. Variety of accounts should be according to the needs of trader. spread and leverage would be reasonable.

I trade with Octafx, so obviously I will recommend that only, but I will agree with Pinfire, it is absolutely vital that we go with regulated broker. Also, one more thing I will add is that we should always try to go with broker that provides cTrader platform like one I mention above. It is especially develop for ECN trading, so kind of safety thing for people to know that they won’t have to deal with issues like re-quotes and such.

First of all there is a huge confusion regarding regulation- of course it is important,, but regulation does not prevent fraudulent behavior of the broker ,, we have seen many cases in the past (and latest was IRONFX )- while obtaining not one but several licences from high recognized regulatory bodies, yet, they denied withdrawals to hundreds of clients...or are lying that the WHD is being processed (couple of months)...
also regulations means limitation ( which are still to come on the big door- limited leverage, requiring licence for managing accounts etc..)

The other general confusion if the bigger the broker- the better... at least IMO, brokers that doesnt even know the names of their employees, dont care much for your couple of K..
so medium size broker, where I can have "real hands " on clients support, with an honest reputation, with no or only insignificant bad reviews would be my recommendation ( while good reviews CAN be sponsored , bad reviews cant be prevented..)

I prefer honest reputation over some big entity...also, you get almost VIP treatment there...

Look for ECN/STP broker (rather than market maker)
Make sure broker is regulated.
Search internet to see that there are no stories about other clients not being able to withdraw their funds.

If you have a large amount of money, I would spread it out a bit so you aren't over the amount you are insured up to in case the broker goes bankrupt.

I am from Turkey, there is regulation about FOREX in Turkey, but I am wondering is it good enough as the UK and other EU regulators.

I have read that FCA made a 4 million dolar fine against one FX broker, because of the company execute clients orders with slippage only if is on favor of the company, if is on the favor of the client they cancel the order.
Regarding the forexbrokerleri.com for same reason as in UK, for the slippage mage against Turkish clients from ALB Menkul, Turkish regulator SPK (CMB) made a 24.672 TRY approx 8500 USD fine... Exactly for the same reason...

So the real question is which regulator is best ? or may I can trust Turkish regulator SPK ?

I am using Octafx, so obviously I am going to recommend that only while one key point here is that they are ECN Company, so I will always suggest/recommend people to seek broker that’s ECN for obvious reasons. I also prefer using cTrader platform, as this is a sort of confirmation type for me and so far I find it pretty good given there are no slippage (at least I have not seen yet) while there is no re-quotes either, so definitely pretty cool platform.

FXpro / Pepperstone / IC Markets I trade five-six digit account size for years with them withdraw support everything is the best you gunna get. Although FXpro have some re quote some times so your strategy might be effected slightly by this but it is bearable.

I also prefer to trade seeing pipettes changes, there you can evaluate how good is your broker execution, track slippage, spread widening etc. More precise trading is necessary for scalpers, keep that in mind.