There are a lot of articles with some advice how to recognize sсam brokers. You should find and read them. Then you will be able to understand which brokers you should avoid and which ones are worthy of note.
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Lots of scams broker are available in this retail market, that’s true. But according to me, I think finding those scams in a proper way not the difficult task at all, FPA can be a great sources for that.
Hi guys I have been doing alot of research on Forex and am a beginner, the only question I have is, which would you recommend as a good trading app for UK trading? I like the sound of a broker which is regulated by the FSA / FCA as the funds are separated and the most secure brokers on the market. Also along with the broker being UK based, which of those allows a smaller deposit and see trades (I. E.smaller leverage? )
Thanks in advance for any help guys
1st of all, you need to select demo friendly Forex brokers, who are offering unlimited demo service not for specific few months! Then you should consider their educational features and programs! Because, now it’s time to improve your Forex knowledge, so broker’s educational features would be helpful to you! Before selecting any broker check their previous history by Google searching!
Thanks Kane, all of that I have already done. I've practiced and still practising, however I am trying to find one with a smaller deposit and minimum steak option, so when I start I don't have to go in at 1k deposit. And start to buy in with 10....100 dollar trades. Thanks, Jamie
Basically broker credibility can be checked by shortlisting few decent brokers and trading their demo account to see the performance how it works, checking their reviews and once the broker is finalized we should start with small amount to check their other processes like withdrawal.
Some of the guys above pointed out some important stuff so I will not repeat them.
Jus two other things that I would like to mention:
- Stay away from brokers with bonuses
- Don’t open an account with brokers that offer Leverage levels of 1 to infinity
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Joined Mar 2017
|205 Posts
Yes Vladislav. If we use demo account at any brokers we will ensure about the brokers performance. On the other hand , before investing large capital we can open a live account with small balance to see the performance how it works .
If newcomers want to learn Forex accurately should choose the broker which always ensures exclusive educational facilities as like Pips school which is really supportive to be a knowledgeable trader rapidly.
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Joined Mar 2017
|304 Posts
The broker we have to choose which always comfortable for using any kinds of trading strategies with scalping and hedging techniques. Generally by and large regulated trading brokers don’t allow scalping in their trading platforms. It creates a great problem for the retail traders.
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Joined Mar 2017
|629 Posts
Actually by scalping any broker company cannot make profit greatly.
So many of them don’t allows this trading policy.
But there are so many 0 pips spreads broker are available in retail market place which
is more appropriate for using scalping.
I agree with Kane Williams. Use a demo and see the feedback reviews on forum. Good luck!
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Actually using demo account it’s very difficult to make sure brokers performance.
But reviews on forums, it is possible to ensure the brokers reputations.
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Joined Mar 2017
|490 Posts
Yes, when I am looking for a right broker which is more appropriate to the concept of trading that I always use. I depend on just Forum communities where I got the reveries that expressed the real traders about their broker’s performance. I emphasis on FPA than others.
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Joined Mar 2016
|578 Posts
One should choose broker according to his knowledge, why to depend on others and their opinions for choosing broker. Use your mind to find right broker.
Really brokers educational features would be very helpful for the novice traders! I see, there have so many brokers who are offering monthly webinar series; that is very good news for the novice traders to learn Forex trading business!
there are plenty of good and regulated brokers out there : ic markets, pepperstone, onetrade, oanda, alpari.... all of them are good, but before you start trading real money you gotta have a strategie
You should strat the right way, there are plenty of good and regulated brokers out there : ic markets, pepperstone, onetrade, oanda, alpari.... all of them are good, but before you start trading real money you gotta have a strategie
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And before making real money by using any good strategy you have to make sure first of all most accurate money managing plan , otherwise you could not make profit consistency despite of god trading strategies.
One should choose broker according to his knowledge, why to depend on others and their opinions for choosing broker. Use your mind to find right broker.
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We need to others knowledge to ensure a right broker especially by the reviews. Ones knowledge is not enough at all to make sure a perfect broker, because lots of brokers are available in right now and most of them are found to be scams.
Which brokers provide unlimited demo trading service they are much useful for the novice traders! Because, new traders need practice enough before trading with real money!
