Reply With QuoteYes selecting which broker is difficult if you are totally new to forex market. But again online reviews can help you alot. Everyone wants a broker who is trustworthy and gives best service, for me its LMFX.
It is very important to choose a broker. If you are not the right broker, it is not possible to gain a trading profit. As a trader, I always try to choose the right broker. The broker gives me the ability to provide the right service. Many traders start trading without looking at the broker. This ignorance of theirs can pay a lot of compensation. After much searching, I found Eurotrader brokers. The broker who helps me a lot.
Yes selecting which broker is difficult if you are totally new to forex market. But again online reviews can help you alot. Everyone wants a broker who is trustworthy and gives best service, for me its LMFX.
My broker is Eurotrader. Earlier I was not content with broker but now I am grateful to Eurotrader as their site truly helped me to get conviction as an understudy. They give a sensational reliably survey of the most recent monetary news, and key cash related upgrades. Additionally, the progressed live graphs in the technical analysis are unquestionably not hard to mean make evaluates on price upgrades of currency pairs. By following the examples, I would more have the ability to satisfactorily imagine the best time to go into a trade.
I think things to consider when you are learning to trade are what sort of trading are you looking to do. In terms of style and also assets. Just FX? Indices, crypto, stocks etc. Therefore what will be important to you as a trader in terms of leverage, fees, available assets to trade and when, regulation if any, deposit options, customer service. Some of these consideration which can all be made while you are paper trading on Trading View can be made as you learn. There is no rush to get placing trades on MT4 or whichever platform you will use. You can learn and practice without even signing up to a broker for a while which allows you time to consider the above.
I've always kind of thought of choosing a broker like picking car insurance. Different people may get a better deal through different brokers and being lazy about it means you're most likely going to pay more money in fees. Since our needs are all a little different, one trader may feel that their broker is the best in the world while another trader may not like them as much. For example, I have everything I need on my CedarFX account, but I have a friend that swears by Oanda. I think one of the most important aspects is doing research nd seeing what real life traders have to say about a company.
Haven’t heard of that broker to be honest. Recently I’ve been going more down the route of offshore brokers, been finding they have better leverage and conditions in general. I was using IG before but moved mostly to trading with EagleFX now, much better for trading crypto pairs and competitive spreads on the fx pairs.
I prefer the unregulated brokers to be honest. They have way more to offer like higher leverages and 24/7 crypto trading. Never had any issues trading with them myself....
Originally Posted by Giacinta loggia
Agreed, a trust worthy broker is required for trading. Personally I use ICMarkets for Forex trading, but tend to go more offshore for Crypto options as not a lot of brokers allow weekend trading for it. I like to trade DOGE and other unusual pairs - for this I use Hugosway.
Makes me laugh when people say regulated and safe. Did you see what happened to Veracity in South Africa recently? They were regulated, yet nobody has been able to withdraw for months. Go figure! I used to use IC Markets too, but here in Australia the regulators slapped leverage limitations on us (max 1:30 leverage now) so many of us moved to offshore brokers. I'm currently using EagleFX. Had an account with them for 2 years, heaps of withdrawals and no serious issues to report.
Offshore Broker are better
Regulated brokers do not always serve the purpose in terms of safety and security. Too many laws and restrictions make traders life difficult with regulated brokers. On the other hand, offshore brokers offer better trading features than regulated one. We just have to make sure that we choose a reputed offshore broker before investing with one of them.
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