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The search for a good broker

  • #121
  • Jul 29, 2016 9:18am Jul 29, 2016 9:18am
Quoting fxindikator
guess Tickmill are no longer best favored for EA trade, especially scalping trading system. {image} all those orders should closed at 15 pips stop losses based on my EA setting. well, result would be differ thanks to the slippage 'feature' . guess it's also a risk for us as traders, but we always had a choice to put our investment to better company ( any suggestion are welcome ). no need to explain me how slippage happen, just want to everyone knows and compare. besides I already had best explanation of what slippage is, directly for the core....
You trade when extremely high volatility is expected due to BOJ policy statement etc. and you think it's broker fault... You will get high slippage everywhere if you trade when you shouldn't...
  • #122
  • Jul 29, 2016 2:30pm Jul 29, 2016 2:30pm
Hello! OP from what I understand you are looking for quite a low starting amount and a VERY high leverage ratio. Why would you be leveraging that much if you have such a small amount of start-up? Your true margin would be terrible and such a broker may not allow you to have more than 1 open position at a time. This just sounds so small that many brokers would either charge you a terrible amount of commission or just fail to pass your positions thru to the market "in time".
  • #123
  • Jul 29, 2016 4:15pm Jul 29, 2016 4:15pm
Quoting corre71
Right now finished to post on the Vipro Markets thread: Yeas, spreads an Vipro are lower than Tickmill; Vipro looks a white label of Tickmill; but Vipro slips much more than Tickmill so at the end your trading costs will be lower on Tickmill. On Tickmill u can get interesting rebates, not on Vipro. Last and not least, Tickmill (formerly Armada) has a long time reputatio, while Vipro is on its beginning
They probably source liquidity from the same place. After SNB there are not many LP-s around as you know. Citibank turns you down even if you are willing to make an initial deposit of 25 million. So go figure. As far as I understand then Vipro Markets is more of a European broker while Tickmill has a major standing in Asia.
  • #124
  • Jul 31, 2016 5:17am Jul 31, 2016 5:17am
Use large regulated or public listed brokers as this is your safest option imo.

IG, Oanda, FXCM, Plus500, cmc, gain capital(forex/cityindex), IB, Dukescopy, alpari etc
  • #125
  • Jul 31, 2016 9:54am Jul 31, 2016 9:54am
Very topical and urgent question for me. Some time ago I used to trade, but in the case of opening another profitable business I left the Forex trading. But now my business is automated, so I decided to take the time to make some trade, so that is the reason why I will be glad to hear your recommendations on brokers
  • #126
  • Aug 1, 2016 3:01am Aug 1, 2016 3:01am
Quoting Collosus
Very topical and urgent question for me. Some time ago I used to trade, but in the case of opening another profitable business I left the Forex trading. But now my business is automated, so I decided to take the time to make some trade, so that is the reason why I will be glad to hear your recommendations on brokers
IC Markets and Pepperstone, both ASIC regulated, very good conditions, use cashbackforex.com to get rebate and moreover check where is best rebate on this site http://www.100forexrebates.com/brokers/ and ask cashbackforex.com to get better rebate
  • #127
  • Aug 1, 2016 3:07pm Aug 1, 2016 3:07pm
Thank you very much for the link and be sure that I’ll check all the contents, so that I really like to study the ratings and charts, where the figures are expressed in numbers. The only doubt can cause a possible engagement of the resource as a source of information, but will need to be carefully examined. Anyway thanks a lot
  • #128
  • Aug 1, 2016 8:16pm Aug 1, 2016 8:16pm
Quoting Collosus
Very topical and urgent question for me. Some time ago I used to trade, but in the case of opening another profitable business I left the Forex trading. But now my business is automated, so I decided to take the time to make some trade, so that is the reason why I will be glad to hear your recommendations on brokers
Mate, it’s not just about hearing about brokers but you should also check it our self. I work with Octafx broker but I am regularly trying various other companies as well and believe me, it’s horrible scenario with many brokers especially having re quote issues during news or even slightly violate situation, so be very careful with how you select up the broker, it can make huge difference in your success or losing in this highly profitable (risky) business.
  • #129
  • Aug 2, 2016 10:57am Aug 2, 2016 10:57am
Afternoon all.
I'm new to trading, but opened an account with 24FX.
Anyone else use them?

Cheers
PK
  • #130
  • Aug 2, 2016 2:12pm Aug 2, 2016 2:12pm
Quoting Prof1tk1ng
Afternoon all. I'm new to trading, but opened an account with 24FX. Anyone else use them? Cheers PK

http://www.tradecomplaint.com/tradin...yZY8&gsc.tab=0

Do some research before wasting money with shady brokers, they are rather scammers and market maker that force clients to invest money just to take their deposits. Rather use brokers that are FCA UK or ASIC regulated.

You can search for brokers here: https://www.100forexbrokers.com/fx/broker_results.php
Read about brokers at forexpeacearmy, but remember that many of opinions are created by brokers affiliates and losing traders that feel cheated by brokers, but they lose simply due to lack of experience and knowledge about markets...
  • #131
  • Aug 2, 2016 2:37pm Aug 2, 2016 2:37pm
Thanks for the reply.
However, rather than using them to invest for me, I am trading myself.
I have read the bad reviews, and I've seen some good ones. So figured I'd test the water and see hwo it goes with a small balance.
I am training with MTA who seem to be very knowledgeable. I have also read some bad reviews on them.....and some good ones. Does anyone know of, or have experience of MTA?

Regards
PK
  • #132
  • Aug 2, 2016 2:38pm Aug 2, 2016 2:38pm
Fedricks, hi there mate. Excuse me but I do not actually understand how do you test other brokers while you're working with one particular broker? You make different deposits, where you put your money and work with them at the same time? in this case, how much money and time you spend on tests of other brokers to make sure that in the end yours is best?
  • #133
  • Aug 2, 2016 4:16pm Aug 2, 2016 4:16pm
Quoting Collosus
Fedricks, hi there mate. Excuse me but I do not actually understand how do you test other brokers while you're working with one particular broker? You make different deposits, where you put your money and work with them at the same time? in this case, how much money and time you spend on tests of other brokers to make sure that in the end yours is best?
See, here are two things. Firstly, if you do long term trading then you won’t have much trouble with selection of broker since all you need to look at is broker that actually ways while for scalpers it’s extremely hard because it’s not about just security, but it comes down to conditions as well. A per working with multiple brokers, I basically do long term trading on Octafx with settled investment, so I basically have certain target that achieve by that while I also love to do scalping especially during news time, so I try various strategies and brokers especially one that offer bonuses because that obviously helps, but remember my investment in such broker is hardly around 100-200 dollars for obvious reasons. If you are also a scalper then best way to judge any company is to trade on news event time, it’s where you will get to know most about broker and just to add little bit about my recent experience with Exness, I had some big issues during news, but still I have been talking with their REP to see what can be done with the issue.
  • #134
  • Edited 7:23am Aug 3, 2016 6:15am | Edited 7:23am
Quoting Prof1tk1ng
Thanks for the reply. However, rather than using them to invest for me, I am trading myself. I have read the bad reviews, and I've seen some good ones. So figured I'd test the water and see hwo it goes with a small balance. I am training with MTA who seem to be very knowledgeable. I have also read some bad reviews on them.....and some good ones. Does anyone know of, or have experience of MTA? Regards PK

As you are new in forex, you probably don't know that 99,99% of trading groups, courses, EA's, forex gurus are total CRAP and SCAM. Usually there are 2 categories of people that run this business. 1) People that failed trading forex, maybe earn some peanuts, but have big knowledge (have read many books) and experience, so they teach people and live from this business. 2) People that know that there are many other people that want become rich fast and without big effort. They only want to scam hundreds of people, close business and open next one. IF YOU DON'T WANT TO BE SCAMMED ALWAYS ASK FOR PROOF!!!! ASK FOR LINK TO LIVE ACCOUNT VERIFIED BY MYFXBOOK AND FOREXFACTORY. ACCOUNTS ONLY FROM REGULATED AND REPUTABLE BROKERS. THERE ARE MANY BROKERS THAT FORGE ACCOUNT STATEMENTS. ACTUALLY IF THEY REALLY RUN HONEST BUSINESS THEY WILL GIVE YOU TRIAL INVESTOR'S PASSWORD TO ACCOUNT. Remember that when they lie, they also make thousands of excuses.
  • #135
  • Aug 3, 2016 2:47pm Aug 3, 2016 2:47pm
Insomniawawa, such a wonderful advisory message you wrote above, just looks like a cry in the wilderness and it seems that it is. As I understand from your post, you are talking about people who taking assets under management but not about brokers. So could you tell me who is worthy of your recommendation among the brokers?
  • #136
  • Aug 3, 2016 3:37pm Aug 3, 2016 3:37pm
Quoting insomniawawa
{quote} As you are new in forex, you probably don't know that 99,99% of trading groups, courses, EA's, forex gurus are total CRAP and SCAM. Usually there are 2 categories of people that run this business. 1) People that failed trading forex, maybe earn some peanuts, but have big knowledge (have read many books) and experience, so they teach people and live from this business. 2) People that know that there are many other people that want become rich fast and without big effort. They only want to scam hundreds of people, close business and open next...
Good place to start, but the red text made me go blind.
  • #137
  • Aug 3, 2016 3:48pm Aug 3, 2016 3:48pm
Thanks for your reply, I am new to this so do appreciate any advice that I can get.
However, there is no fee for the course that I'm on, its free.
We were also invited to their trading office to trade live with some of the fund managers, so I can vouch that they do achieve some great results.
  • #138
  • Edited 3:12am Aug 4, 2016 2:54am | Edited 3:12am
Quoting Collosus
Insomniawawa, such a wonderful advisory message you wrote above, just looks like a cry in the wilderness and it seems that it is. As I understand from your post, you are talking about people who taking assets under management but not about brokers. So could you tell me who is worthy of your recommendation among the brokers?

Exactly, it's mostly about "forex managers", EA's developers and all kind of teachers. I was forced to learn how to trade forex alone, because I haven't found any reliable teacher (and I have been searching a lot). Nobody have never provided me any track record from regulated broker, only forged statements from shady brokers without any regulation with extremely bad opinions, that this broker steal money... It's simple, group of swindlers create website with brokerage service, but they actually don't run this business at all. Then they create great track record and advertise a lot. "Only last 100 investors and we are closed blalalalala, minimum account $5000" Good news is you rather don't need to waste your time for this kind of crap. Bad news, you need to learn how to trade on your own and as you can't become lawyer or doctor in 1 month, you won't become good trader fast. Try to learn about price action and practice a lot You must find style that suit to you and master it

Among brokers I recommend: IC Markets, Pepperstone and LMAX. LMAX has worse spreads, but it's regulated by FCA UK and you will get up to 50000 pounds in case of bankruptcy. In general, use brokers regulated by FCA UK or ASIC, that are on market more than few years. Only ECN type with commission where broker doesn't act as market maker, because you don't want conflict of interest. As a trader you need from broker: no reqoutes, no rejections, no "last look", fast execution, no freezing platform Always use rebates offer, I recommend cashbackforex, they always pay on time Unfortunately, normally even bad brokers will let you trade without any trouble until you lose, so you can think that your broker is reliable
  • #139
  • Aug 4, 2016 3:08am Aug 4, 2016 3:08am
Quoting Noorx
{quote} Good place to start, but the red text made me go blind.
I know, but red text is very important
  • #140
  • Aug 4, 2016 5:22am Aug 4, 2016 5:22am
I trade with Fibo Group for 4 months. I started with demo, then decided to make a live account but I started with small investment, just wanted to analize how do they work. I cannot say smth bad about fibo. it's normal broker with rather low spreads. what I like is that the clients support works really 24 hours. At least my first impresion is rather good and I haven't got any problems with them yet.
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