which Forex Broker is good for new start ?

Discussion in 'Newbie Questions' started by dirplanet, Feb 10, 2013.

  1. Fxpipper

    Fxpipper Master Trader

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    Hi Tabalo,
    The brokers I use (From Trader's way to Alpari) all offer demo accounts, low deposits and so do most of the other brokers. Try checking out some of the independent broker review sites, they usually list the min deposit, demo account availability along with other details, along with broker info.
     
  2. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    What is your experience with TW?
     
  3. Fxpipper

    Fxpipper Master Trader

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    ECN and on Alpari, demo to standard though would have to admit that I am not too happy with Alpari's slippages last week..
    The ECN on TW is good and FXCM is great, only catch, TW is not regulated..but so far, no issues.
    What brokers are you using? And any reason why you have opted for these brokers? Let me know, may want to change form alpari
     
  4. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    Hi, I made paxforex my main broker and picked them for their deep liquidity. I have never had an issues getting my orders filled at the price I selected (that applies for pending orders). Slippage even during big market moves has never been an issue and I do not remember a re-quote. I also appreciate their same day withdrawals and never had a problem with that. Customer service is great and responsive. For my ECN I think fxpro is still the best choice, in my opinion. I never liked fxcm as I do not appreciate US regulation.

    I took a look at TW, but something always struck me as odd. They are in Dominica, have a UK phone number and would not give me their physical address which was strange to me. I am glad you never had a problem with them.
     
  5. mumuy

    mumuy Active Trader

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    Same here, I've been using paxforex for a year now and I have no problems with it, especially with their same day withdrawal with moneybookers.
     
  6. Fxpipper

    Fxpipper Master Trader

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    Yeah, thought that was a bit wonky at first but on looking closer, found the address listed in the web profile..so it did not really factor. But the prices, well, whose gonna say no to extremely low spreads..
    Just wish Alpari would be consistent instead of the usual "one good week and one bad week", it's really p##%@@g me off..
    FXCM is okay but yeah, some traders do not like it for some reason or the other. But personally, loved the way the trades are executed on spot and again, like TW, great spreads and no issues either. Dude, believe me, really at the end of my tether and if Alpari does not improve, say in one to two weeks, may move to your broker..
     
  7. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    I have heard and read complaints about alpari, all I can say is that if a trader is unhappy...you need to relocate and as long as you are happy with your broker keep trading there. I am very happy at mine.
     
  8. Fxpipper

    Fxpipper Master Trader

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    You would think that their representatives would do a better job other than the "I dunno, need to check - can I get back to you later" which of course, they never do..
    Yeah, I agree - but the problem is that I have been with them so long..either way, next 2 weeks will be the deal breaker..
     
  9. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    Let me know how it works out for you.
     
  10. eyeball

    eyeball Master Trader

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    Check your spelling/syntax--witch broker is located in Salem, Ma.--which broker is an altogether different story
     
    Last edited: Jul 8, 2013
  11. mehulsoni

    mehulsoni Trader

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    Hi,

    There are many broker offer micro account to start trading with small amount deposit.

    But really I don't prefer to start forex trading with such little amount. If you want to start trading for trial than start with demo account.
     
  12. Rambo35

    Rambo35 Confirmed PaxForex Representative

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    I disagree as with a small live account you are actually trading while in a demo you are not and it is nothing more than a waste of time.
     
  13. Fxpipper

    Fxpipper Master Trader

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    Sorry, if you are new, it is better that you start off with a nano or micro, rather than a standard account..just does not make sense to risk the whole lot when you're still learning.
     
  14. tabalo

    tabalo Confirmed HotForex Representative

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    It's difficult to gain a lot profit with small amount, except you trade with higher leverage. However, bigger amount would make you lose money more when a trade go TP. And some trader come to live market with a small mount to get familiar with market. So that's the reason why we have brokers offer small amount like Hotforex ($5), Exness ($20),...
     
  15. michael77

    michael77 Trader

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    It actually depends where do you located. I always like to advice to any newbie to choose a trusted broker Forex who have been doing their business for long period of time with good reputation.
     
  16. ezrydn

    ezrydn Active Trader

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    Any broker with a Demo Acct! Put your money away. You're not ready for the real money world unless you just have to lose it.
     
  17. inggo

    inggo Master Trader

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    always stick with demo, for the basics, and once you decide to go live make sure you start with as low money as possible (50-150) it wont be as painful when you loose it, When i started with hotforex it was like 200 and man did i blow it in less than a week, and then deposited another 200 and here i am still trading for two years now :D
     
  18. Fxpipper

    Fxpipper Master Trader

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    I'm going to second that. After a few long weeks in the demo, try a micro with $100-$150, 1% risk, and track all trades..
     
  19. tabalo

    tabalo Confirmed HotForex Representative

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    Why didn't you start with $20 or $50, $200 seems a big one.
     
  20. Emibluz

    Emibluz Banned

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    Any reliable broker would be very good for you. With such a small deposit, I think you should stay away from UK or US brokers. Smaller brokers that offer a micro account will be best for any newbie with small deposit since they offer lower spreads and higher leverages. Most of these small brokers are also regulated, but regulation has no effect on your trading, therefore should not be a problem if the broker is not regulated. Just check the broker's track record and if it's clean, then you are good to go.
     

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