HELP choosing a suitable broker

[tkhan011]

Hi guys..
I’m relatively new to Forex and trading, been trading demo for 6 months on several platforms from different brokers such as Forextime/FXCM/FxOpen/Hotforex/Octatrader/Ironfx/ThinkForex/FXCC to name a few, trying to get a feel for their spreads, execution times, slippage/re-quotes if any and learning what kind of trading style suits me

I developed my strategy around scalping, hedging and day trading, sometimes intra-day trading. I had started off mainly trading metals and major forex pairs since they were the popular one’s. And to be honest, I found most of the brokers similar in terms of spreads, execution and all that leaving me indecisive whom to trade live with, but a few exceptions

Then I narrowed it down to technicalities. I would choose a STP/ECN broker, 5 decimal points, obviously allowing scalping/hedging/EA, and since I’m a muslim I definitely required the broker to have a SWAP-FREE option with their accounts which I could trade on Mt4

Realistically, these are the specs I would trade live with
- STP/ECN account with 500$ deposit and 1:10 lev
- SWAP-FREE
- Scalping, hedging, EA etc
- Must be on Mt4
- Needless to say, tight spreads and low costs
- Decent number of pairs/CFD’s/Commodities/metals

This is where I need help/suggestions from the more experienced traders here since I haven’t yet traded live with anyone. Which do you guys think would be a good choice for me?
Any help much Appreciated!

 

[Enivid]

These search results should help you a bit:
http://www.earnforex.com/search-for...ir=2&lev=1&st=f&sc=on&h=on&nd=45&mps=10&s=stp

 

[tkhan011]

Thank you admin, input from other traders would be more helpful though

 

[tabalo]

After trying too many brokers , even well-known name as FXCM, HotForex and you couldn't find out the suitable one. I don't think any trader can help you, but you still have some good names as FxPro, Armanda, AvaTrade.

Have you also tried Insta, FBS, Robo, Exness?

 

[DiF0r]

I would suggest Armada for scalping. And you can also get 5% less commission on their Exchange account 🙂

 

[Jamaica]

I would suggest Armada for scalping. And you can also get 5% less commission on their Exchange account 🙂

I have accounts with IC Markets and Armada. I find Armada's servers not be reliable at all. IC Markets had some problems a while back but they have fixed them. Overall IC Markets is the better broker in my opinion.

 

[jcvmw]

One thing I would try is open a platform of a broker you are thinking about using, do this just before major news, maybe open two, with two different brokers. Watch each one as they react to the news. The one who lags to the news you don't want. keep doing this with those you are interested in who have passed other qualifying marks.

 

[tabalo]

Where's the topic owner? He listed a big broker list then leaving the topic or he found out his broker?

 

[Emibluz]

Hi guys..
I’m relatively new to Forex and trading, been trading demo for 6 months on several platforms from different brokers such as Forextime/FXCM/FxOpen/Hotforex/Octatrader/Ironfx/ThinkForex/FXCC to name a few, trying to get a feel for their spreads, execution times, slippage/re-quotes if any and learning what kind of trading style suits me

I developed my strategy around scalping, hedging and day trading, sometimes intra-day trading. I had started off mainly trading metals and major forex pairs since they were the popular one’s. And to be honest, I found most of the brokers similar in terms of spreads, execution and all that leaving me indecisive whom to trade live with, but a few exceptions

Then I narrowed it down to technicalities. I would choose a STP/ECN broker, 5 decimal points, obviously allowing scalping/hedging/EA, and since I’m a muslim I definitely required the broker to have a SWAP-FREE option with their accounts which I could trade on Mt4

Realistically, these are the specs I would trade live with
- STP/ECN account with 500$ deposit and 1:10 lev
- SWAP-FREE
- Scalping, hedging, EA etc
- Must be on Mt4
- Needless to say, tight spreads and low costs
- Decent number of pairs/CFD’s/Commodities/metals

This is where I need help/suggestions from the more experienced traders here since I haven’t yet traded live with anyone. Which do you guys think would be a good choice for me?
Any help much Appreciated!

I think you should scrap hedging off your list because only a few brokers allow that. However, if you are looking to scalp, you need a broker with very low spreads (not zero spread brokers). When it comes to lower spreads and scalping-allowed, I think you should find a reputable offshore broker.

 

[fxapex]

you have already traded with so many brokers, you can choose from one of them which have given you the most hazzle free trading experience........

 

[tabalo]

Where is the topic owner? I think he's gone after putting a question for us.

 

[Emibluz]

Well I got this Interesting information on net about Choosing a Broker or a Brokerage Firm.

Read it...

[deleted copy&pasted content]

I don't see how you Copy&Paste is going to help those who are looking for good brokers. Here is my plain advice for those looking for brokers. Do not use a regulated broker because they are full of crap these days. If you want to enjoy your trading and be successful, find a good offshore brokers that have a good track record.

 

[Azforex]

I don't see how you Copy&Paste is going to help those who are looking for good brokers. Here is my plain advice for those looking for brokers. Do not use a regulated broker because they are full of crap these days. If you want to enjoy your trading and be successful, find a good offshore brokers that have a good track record.

You are advising that do not go with regulated broker ?

Are you out of your mind or what ?

How can you you trade with unregulated broker ?

Who gonna responsible for your money if they do scam with you ?

 

[James.pips]

Before choosing any broker do your own research according to your need because there are too many brokers and find the reviews of that broker that you finalized for the trading.........................

 

[Azforex]

Before choosing any broker do your own research according to your need because there are too many brokers and find the reviews of that broker that you finalized for the trading.........................

You are absolutely right, Whenever you are about to choose new broker than check review about those broker and compare spread with others brokers...

 

[inggo]

I can only talk for my self, since i do trade with hotforex live, if you are new to live trading, you might want to start with a lower investment just to test the waters and test the broker at the same time, there are some differences between live and demo that might cause you if you are not aware, but i guess from the way you made the post that you got most of the essentials there and best of luck 🙂

 

[karunia]

Before choosing any broker do your own research according to your need because there are too many brokers and find the reviews of that broker that you finalized for the trading.........................

I've make many times research with joining many brokers and it make me know well about some brokers. I suggest you to join Liteforex broker, they are very solid and fair...

 

[rrayne20009]

A broker must have a good withdrawal system,some traders do advice to look this criteria in a broker.I also suggest to try Gdmfx,they're a good broker actually

 

[John_Davy]

Here's are some feature that suits me well, and this is why i am still with my current broker
Good spread, fast execution, money management tool, web & mobile trading.

I think I'll stick more long with 1LotSTP, But please do keep in mind that every traders has different trading style that might not suit other.

At the end do your own research and always try up their demo account first to feel how forex work with their platforms.

 

[lowe]

Thank you admin, input from other traders would be more helpful though

I think the link he gave could really help. I remember when I was making research on my broker Profiforex, I came here to earnforex at the page for forex brokers which is the link I think he has provided. There I saw some things that impressed me about them like the speed of trading, and they are quite living up to what is stated here in that page. So you can always use the link he provided!