Forex-Brokers

Discussion in 'Forex Brokers' started by Albert77, Mar 4, 2014.

  1. Albert77

    Albert77 Trader

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    I am a new trader and I would like to know about forex brokers . Do you have any recommendations? What about forex research?
     
  2. michael smith

    michael smith Banned

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    Sorry, but there are too many brokers. At first, you must to tell, what account you want top create? STP or ECN? What country do you live in (as for my broker, they don't work with US citizens)? What minimal depo do you wish to make?
     
  3. vicknic

    vicknic Confirmed ProfiForex Representative

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    If you are new to forex, I would advice you to choose an STP/NDD broker. This type of broker is easy to trade with. An STP/NDD broker does not benefit from your loss, neither your profit. The broker only charge a commission per trade. ProfiForex charge only 0.3pips per trade and that is for the 5 digit quotations. You do not pay anything if you trade the 4 digit quotations. Also, you do not have to worry about withdrawals because it takes less than 24 hours to withdraw your money. We are happy to have you here.
     
  4. garena

    garena Active Trader

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    You should visit babypips.com to learn some basic forex knowledge before trading. Don't spend any penny to the market before you know forex is what.
     
  5. michael smith

    michael smith Banned

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    absolutely agre with you! +1
     
  6. globalfx

    globalfx Trader

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    Sometimes, in order to learn all there is, one has to spend. For example, to see what real trading is all about, you must get a micro account, deposit not more than a 100 bucks and trade 0.01 lot. This will help you more than a demo account would.
     
  7. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    Before you call yourself a trader you should conduct some research about forex trading and find a good broker, open a micro account and start with some small deposit. A good broker will provide the tools what you need and lot of signals for you so you can start trading. After you collect all the necessary trading informations, create your trading strategy and start trading.
     
  8. michael smith

    michael smith Banned

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    Maybe you are right, but I think at first trader must to try himself/herself in demo. And there are a lot of brokers that has demo accounts with no difference in executions of orders and same spread with the real.
     
  9. globalfx

    globalfx Trader

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    Yes, demo is very important. But a new trader should not waste much time there. This is because, even if you are very good and making profit with a demo account, a real account will be different. This is also why some traders fail. Because they feel that since they are winning with a demo account, they can just deposit in a real account and trade as usual. In the end, they hit margin call and that is the end.
     
  10. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    I agree with you that new trader should not waste any time on demo trading, what you are going to learn on demo is not going to be even close to trading on real account.
     
  11. michael smith

    michael smith Banned

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    Yeah, but I still sometimes use demo to test some strategies. It is useful)
     
  12. markward

    markward Trader

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    I agree with you.
     
  13. Aby123

    Aby123 Active Trader

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    However, especially for beginners like me. I think it would be best to continue practicing demo trading until I get to familiarize and understand the tools, the graphs, the numbers and etc. before proceeding to a live trade to practice emotional and discipline, and eventually control them.
     
  14. michael smith

    michael smith Banned

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    I think, nobody can practice emotional control on demo trading, 'cause you use not your own money.
    IMO, education of trader with demo account should not last long, maximum - 2-3 months.
     
  15. vicknic

    vicknic Confirmed ProfiForex Representative

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    A micro account is the best for emotional control training. While using a demo, I always encourage new traders to signup a micro account, where he can trade in cents.
     
  16. michael smith

    michael smith Banned

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    IMO, after theoretical education, when you start to trade with demo, the best option for you is to open demo account with the same balance what you will deposit into the real account.
     
  17. FredricJones1

    FredricJones1 Confirmed Integerfx Representative

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    you can try Integerfx, you can do forex trading with minimum deposit of $1 and you have the option of withdrawing minimum $10 to your account. you have MT4 platform to trade currency safely.
     
  18. Aby123

    Aby123 Active Trader

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    Of course, but not until satisfied with the demo trading.
     
  19. michael smith

    michael smith Banned

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    Sorry, but I do not understand, what kind can be profit with depo 1 dollar?) Then it's better to trade with demo - I guess there is no difference. Maybe, for testing of strategies it is cool, but I started from 10 bucks and before the real trading I used demo and tested strategies with demo too. So I see no reason to start with 1 dollar IMO
     
  20. FredricJones1

    FredricJones1 Confirmed Integerfx Representative

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    That is minimum deposit, you can deposit as you wish to trade more money through Integerfx.com
     
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