Newbie How to select Broker

[puwanat_sr]

Dear All

I'm very new of Forex trading , I has tried XM Broker feel very good
but I found the spread is wider than other

ref; [url deleted]

I found another broker the spread is very low as 0.2-0.7 (EUR/USD)

should I change to lower spread broker , any hiding cost that I don't know

Please advise

Thank you very much for every your answer

 

[hatetheslippage]

there are a lot of low spreads broker ( sometimes called STP/ECN) broker that offer low spreads , For ex : Icmrkts, tickmill, pperstone etc.
usually this low spreads broker charge commision for every execute trade
average rate are from $4 per 1 lot commision till $10 per lot commision
if you are planning to use ECN broker, please bear in mind, their spreads are not fixed and can be widen when some events happen

Choosing a broker is more like choosing a partner business, if you like their trading conditions, their services , or else you can move forward, if you dont like it you can find another one

 

[ambitionfx]

0.2-0.7 is really good but I think it should have commission together. You should check it carefully for hidden fees when trading.

 

[Steve Lock]

As for low spreads on ECN account, almost all brokers offer them actually. May be it is worth looking for zero spreads like FreshForex gives on EUR/USD pair.

 

[Prezident]

FXopen has lower spreads on ECN and lower costs.

 

[garena]

Newbie should learn Forex basics first, then switching to demo. But if you're done those first step, you must have some broker names, then filter them with your trading requirements and check feedback on Eanrforex and FPA. Then you might have a good choice.

 

[Dmitriy Enrst]

Anyone will tell you that for a chance to achieve something in the Forex market, it is important to find the right broker. It depends on a broker if it iseasy to trade or not. I'm trading with FreshForex. It has good trading conditions, tech support really helps to solve difficult problems. This is particularly important at the beginning.