Choice Of Broker - page 3
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Hi all,
To start with, i'm not affiliated with any broker or doing promotions for them. LOLL. Just quoting an interesting article. I think Oanda would be on top of the list probably due to it's low spread which can be hardly found amongst many other brokers. Just my personal observation. Good Luck.
US Forex brokers profitability report for Q2 2011 | Forex Magnates
Yours sincerely,
WinterskyAlthough their spreads are quite low, there are other brokers that do perform better with spreads. Here is a link to a Live Spread Comparison of about 40 brokers (you can select about 50 pairs to compare if you click "+Select Different Currency" ). The spreads are for standard accounts.
Forex Spreads
choosing a broker should be careful because many brokers scam. for that, we must examine the broker that we will use in the demo account. with a demo account of the services we can know the broker, server conditions, dlll.
Two more important features a broker must have are very good withdrawal system and reliable customer support.
You can try 1lotstp Forex broker,if you like.
While choosing forex broker, you need to pay attention on several questions:
1) A regulated forex broker is safer (but according to my opinion it's not necessary if you are satisfied with anything else, conditions, spread, withdrawal, support.....)
2) If possible, get an ECN (Interbank) forex broker with no dealing desk.They offer the lowest transaction costs (spread), they are extremely reliable, they never trade against their client ( they don't have any capacity to do that).
-The Market Makers have higher spread ( cost of each trade). Market makers with a dealing desk can change the price at which you are entering a trade.
3) The best forex brokers have low spread
4) Choose a forex broker with sufficient leverage
5) Familiarize yourself with different forex trading account types
6) Play a lot with a demo account
7) Choose a forex trading platform with the futures you will need
And.....happy trading :-)
While choosing forex broker, you need to pay attention on several questions:
1) A regulated forex broker is safer (but according to my opinion it's not necessary if you are satisfied with anything else, conditions, spread, withdrawal, support.....)
2) If possible, get an ECN (Interbank) forex broker with no dealing desk.They offer the lowest transaction costs (spread), they are extremely reliable, they never trade against their client ( they don't have any capacity to do that).
-The Market Makers have higher spread ( cost of each trade). Market makers with a dealing desk can change the price at which you are entering a trade.
3) The best forex brokers have low spread
4) Choose a forex broker with sufficient leverage
5) Familiarize yourself with different forex trading account types
6) Play a lot with a demo account
7) Choose a forex trading platform with the futures you will need
And.....happy trading :-)The best trading condition from a broker will make us feel satisfied with Forex trading. I also try to maximize trading condition. Broker which can make us feel comfort when trading will make our result be more consistent. But we also must try to improve our trading skills too.
Regulated broker, separate funds for your deposit, i would also recommand ECN no dealing desk broker
make sure they are regulated, with good segrated accounts, active support and provide your needs, thats why i trade with hotforex
make sure they are regulated, with good segrated accounts, active support and provide your needs, thats why i trade with hotforex
Regulated, segregated account, good support and good facilities and services is my criteria in choosing a broker. There are many sources that we can use as reference before choosing broker. We can try to use small amount to start trading with brokers. Using cent account, we can start trading with TenkoFx with small amount.
Choosing a good broker is very important . Every trader need to do a thorough research on a broker before trading with them. And you need to choose a broker that meet up to your expectation as a trader. Trading with profiforex has been up to my needs and i an satisfied with their services.
there's many factor for choosing a brokers. in my case i would chose broker which match my trading strategies, arbitrage scalping is my trading system. i would make sure the brokers would allow my trading strategies, as provide a suitable trading condition based on my needs. i tried several brokers service just to find a perfect trading condition for my trading strategies, before i choose to open a ECN account with Armada markets ( minimal deposit is 300usd for the ECN low spread account with commissions, the best account to choose trust me !), no price stop level/tp level which means i can modify target level as near as possible to the current market (good condition for scalpers). my suggestion is define your trading system first, and go find a proper broker for it, dont put too much attention with promotional offer or promotion, profitable trading result is all you need anyway. good luck.