Donna Forex Forum

Brokers => Brokers => Topic started by: KniGht yOnder on November 04, 2009, 04:45:32 PM

Title: newbie ideal forex broker choice?
Post by: KniGht yOnder on November 04, 2009, 04:45:32 PM
hi donnaforex and members,

hi everyone, i am a complete newbie to forex and this is my first post after few weeks of viewing this forum and quite happy to find this forum to be very helpful and especially the honest inputs from the members ( at least i hope most of them are ;D) and thanks to donna's dedication and passion to help out fellow members!!

as a newbie i am looking for a "perfect" broker (after few months of reading about forex and i know that "kind" of brokers don't exist!)  because i will always read some good and bad reviews about some brokers somewhere  ;)  what's worse is that i get more confused the more i read about those "reviews". and i can't really differentiate whether the "good" reviews are from affiliates or "bad reviews are from the brokers' rivals!!! even i can't help but doubt the credibility of those forums like forexpeacearmy.com, pipcops.com and so on .....OMG!!! ( but this one is exceptional with donna being the admin of this forum or something like a guardian, i just have a feeling she is a genuine lady ;D, that's why i choose to post my question here!)

but that's ok certainly nobody can please the whole world and not even Jesus could do that :D  so i am looking for an "ideal" broker with the following criteria and hope some "hero" members can give a recommendation or maybe from donna herself  :P

1.  STP (Straight Through Processing. no or very little delayed execution. i am not going to do
     the scalping thingy so maybe not that crucial for me. i am gonna do manual trading with forex
     rebellion system)

2. low account opening deposit ( i am going to "throw" away $ 500 ;D)

3. acceptable spreads ( not very crucial for me as well i think cos i'm not going for 2- 4 pips  
    scalping gain)

4. brokers that do not work against their clients ( requotes, slippage etc)

5. and no withdrawal problems ( as i read some threads where people have this problems, being  
    scared of some scam brokers will take my money!!!  :o)

ok that's it. i am just a small guy from somewhere in asia pacific region, looking for enlightenment from you gurus! thank you!! ( anyway i like this forum :-*)
Title: Re: newbie ideal forex broker choice?
Post by: Colleen on November 04, 2009, 05:00:42 PM
Hello KniGht yOnder,

I luv my Forex.com/UK account and think it meets a lot of your criteria...

Check it out further with the link to The Aslan Group and score extra Monthly Rebates with the Rebate Program - http://www.donnaforex.com/forum/index.php?topic=474.0  I know, I'm the Client Support Manager for these folks but it's true... I really do think these accounts are GREAT for newbies... you can start up your account with at least $250 and you can trade with Microlot sizes of .01 lotsize and up on the MT4 Platform in case you do decide to work with an ea in the future... Spreads are reasonable as I've had no problems so far with my account and I have not experienced slippage or requotes as yet... and I've found working with the reputable companies like Forex.com/UK, you should not have any problems moving your money when you would like to... brokers are not banks though and it does take several days to process your monies for you...

And I'm just little ole me from a small town in Ontario just North of Toronto up here in Canada somewhere...

So check out Forex.com/UK and see if it suits your trading portfolio... best of luck with the pips! :)

Colleen ;)
Title: Re: newbie ideal forex broker choice?
Post by: KniGht yOnder on November 04, 2009, 06:02:48 PM
hi colleen,

thanks for being the first one to reply!!! i just stumbled upon your personal blog and read some background about you and i am really envy of your living environment ( a farm with animals how cool :o) i wish i could also retire like that and you can't find that kind of environment in southeast asia, ( the farms in my country are ugly  ;D) that's why western countries are always my dreaMlands.... :D  (maybe you can include some photos of how your farm looks like in your blog hehe...)

anyway thanks for your recommendation i'll have a look at the forex.com/uk website right away.  ;)


KniGht yOnder
Title: Re: newbie ideal forex broker choice?
Post by: KniGht yOnder on November 04, 2009, 06:18:07 PM
is gallant fx fine? read some bad reviews about their rude attitude towards customers ( real or fake)?
but this one is endorsed by fapwinner and fapturboexpertguide

they are not regulated by nfa, segregated account on sunspot capital which sunspot capital no longer a member of sec but still a ria (registered investment advisor). am i correct?

even rob casey once wrote in his blog that gallantfx withdrew from the nfa but later made a correction to his previous statement said that gallantfx was never a nfa member before. but when i checked the nfa's BASIC record, gallantfx was indeed a nfa member before but had withdrawn later.  http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0376633&rn=N
 (http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0376633&rn=N) and now their partner sunspot capital no longer a sec member... there is much contradiction here that made me confused ??? something fishy here???

so my fund secured with them? can i trust them
Title: Re: newbie ideal forex broker choice?
Post by: Mic on November 04, 2009, 07:36:31 PM
is gallant fx fine? read some bad reviews about their rude attitude towards customers ( real or fake)?
but this one is endorsed by fapwinner and fapturboexpertguide

they are not regulated by nfa, segregated account on sunspot capital which sunspot capital no longer a member of sec but still a ria (registered investment advisor). am i correct?

even rob casey once wrote in his blog that gallantfx withdrew from the nfa but later made a correction to his previous statement said that gallantfx was never a nfa member before. but when i checked the nfa's BASIC record, gallantfx was indeed a nfa member before but had withdrawn later.  http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0376633&rn=N
 (http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0376633&rn=N) and now their partner sunspot capital no longer a sec member... there is much contradiction here that made me confused ??? something fishy here???

so my fund secured with them? can i trust them

Sunspot Capital is no longer a RIA with the SEC.
Title: Re: newbie ideal forex broker choice?
Post by: Colleen on November 04, 2009, 07:49:07 PM
hi colleen,

thanks for being the first one to reply!!! i just stumbled upon your personal blog and read some background about you and i am really envy of your living environment ( a farm with animals how cool :o) i wish i could also retire like that and you can't find that kind of environment in southeast asia, ( the farms in my country are ugly  ;D) that's why western countries are always my dreaMlands.... :D  (maybe you can include some photos of how your farm looks like in your blog hehe...)

anyway thanks for your recommendation i'll have a look at the forex.com/uk website right away.  ;)


KniGht yOnder

Hello again KniGHT yOnder,

I'm glad I was able to respond to your post quickly, just happened to be in the neighbourhood I guess... :)

I too luv my living environment on my farm with animals too - I feel like Doctor Doolittle some days... I do realize that some folks can't find that kind of environment where they live... the farmland is nice in North America and I'm from the Great White North aka Canada...  that's why western countries are always my dreaMlands too.... :D  Although I do like to visit the Caribbean countries lately - luv those sandy beaches... (Maybe I can include some photos of how my farm looks like in my blog for you though...) ;)

And why are you thinking about Gallant FX nowadays since you don't feel like you can trust the information on this company, perhaps you've answered your own question about whether you want to deal with them possibly?

Your broker search continues I see... I do really, really like my Forex.com/UK account and still think it would meet your criteria...

Colleen ;)
Title: Re: newbie ideal forex broker choice?
Post by: KniGht yOnder on November 05, 2009, 03:59:24 AM
hi colleen,

Quote
And why are you thinking about Gallant FX nowadays since you don't feel like you can trust the information on this company, perhaps you've answered your own question about whether you want to deal with them possibly?

it was just that this gallant fx was highly recommended by those 2 big guys fapwinner and fapturboexpertguide, and we small folk tend to trust authority like them. maybe they are very influencing (or maybe misleading) ::)

like you said i think i got my answer already, i'll pass this one. just need some confirmation. ;D

Quote
Your broker search continues I see... I do really, really like my Forex.com/UK account and still think it would meet your criteria...
i think your forex.com/uk would be fine. i just got a small problem here. some UK brokers are very strict with their account application. they need certified copy of photo id and bills, statement etc. i got my national id of course, but i don't have utility bills in my name ( since i stay with my dad, it's his name). i got no bank statement mailed to my house ( even i went to the bank and requested 1 copy of that, they only provide with the internet statement printout!! i can do the same thing with my computer too, banks have gone paperless). i got no credit card statement since i am using a debit card. what i got is only mobile phone bill, and internet broadband bill

i emailed alpari, they replied they don't accept online bank statement and mobile phone bill or internet broadband bill. now i am trying to figure out a way to get around this.  :D thanks
Title: Re: newbie ideal forex broker choice?
Post by: KniGht yOnder on November 05, 2009, 04:14:33 AM
Quote
i emailed alpari, they replied they don't accept online bank statement and mobile phone bill or internet broadband bill. now i am trying to figure out a way to get around this.  Cheesy thanks

i just chat with the forex.com/uk guy, he said they are cool with mobile phone and internet broadband bill hooray!!!!  ;D i'll open a demo account with them within this week and start testing my long sheathed "blade" already!! (ohhh i am not trying to get violent here :D)

wish me luck!!

Title: Re: newbie ideal forex broker choice?
Post by: Colleen on November 05, 2009, 04:19:41 AM
hi colleen,

Quote
And why are you thinking about Gallant FX nowadays since you don't feel like you can trust the information on this company, perhaps you've answered your own question about whether you want to deal with them possibly?

it was just that this gallant fx was highly recommended by those 2 big guys fapwinner and fapturboexpertguide, and we small folk tend to trust authority like them. maybe they are very influencing (or maybe misleading) ::)

like you said i think i got my answer already, i'll pass this one. just need some confirmation. ;D

Quote
Your broker search continues I see... I do really, really like my Forex.com/UK account and still think it would meet your criteria...
i think your forex.com/uk would be fine. i just got a small problem here. some UK brokers are very strict with their account application. they need certified copy of photo id and bills, statement etc. i got my national id of course, but i don't have utility bills in my name ( since i stay with my dad, it's his name). i got no bank statement mailed to my house ( even i went to the bank and requested 1 copy of that, they only provide with the internet statement printout!! i can do the same thing with my computer too, banks have gone paperless). i got no credit card statement since i am using a debit card. what i got is only mobile phone bill, and internet broadband bill

i emailed alpari, they replied they don't accept online bank statement and mobile phone bill or internet broadband bill. now i am trying to figure out a way to get around this.  :D thanks


Hello KniGht yOnder,

So you have identification with your national id - that's the first one you'll need...

Next you can use a passport, driver's licence, government issued id, cell phone bill or bank statement to open an account with Forex.com/UK - we phoned and checked this out for you...

So, Cell Phone Bill sounds like the next piece you can use for you to open an account with Forex.com/UK.

Information must be current as well...

And Different Brokers will have different rules...

So, Alpari/UK rules are different than Forex.com/UK...

Colleen ;)

PS... KniGht yOnder aka Kelvin - I see you posted your post as I was posting my post... so we are in agreement then... the cell phone bill will suffice for you... and don't forget to use The Aslan Group to earn the monthly rebates just for trading... Oh and Good Luck with your Trading... :)
Title: Re: newbie ideal forex broker choice?
Post by: jenks on November 06, 2009, 11:52:31 AM
Hi Colleen,

What sort of spreads are you getting from Forex.com?  I trade fapturbo pairs and MD.

I've just downloaded a demo account as i'm fed up with FXCM offering ridiculous spreads.

Many thanks

Jenks
Title: Re: newbie ideal forex broker choice?
Post by: Colleen on November 06, 2009, 02:00:18 PM
Hello Jenks,

My spreads seem reasonable with Forex.com/UK - it does seem to initiate more trades with Megadroid 1.21 than my FXCM account could because of the variable spread popping just above the maximum of 3 that is the preset setting in the Megadroid bot with FXCM... and that ea trades on the Eur/Usd pair so I do know that the spread would be below 3 during the Asian timeframe - since I only trade Eur/Usd at this time I can only comment on that pair for you...

So, please do Demo with Forex.com/UK and see how it goes for you...

I hope you find a broker you can work with...

Colleen ;)
Title: Re: newbie ideal forex broker choice?
Post by: paralotnik on November 06, 2009, 03:52:42 PM
Knight, I used FXCM-UK, FXDD, Forex.com/UK, and have used Alpari and gallantfx in the past. I highly recommend the first 3, but the 2nd set....I don't think they're honest brokers,a dn the support is not great. The 2 UK accounts first mentioned have GREAT customer service, low deposit amounts, good spreads, and are rumored not to work against clients!

I hope my 2 cents helps...  :-\
Title: Re: newbie ideal forex broker choice?
Post by: Mic on November 06, 2009, 09:35:18 PM
Knight, I used FXCM-UK, FXDD, Forex.com/UK, and have used Alpari and gallantfx in the past. I highly recommend the first 3, but the 2nd set....I don't think they're honest brokers,a dn the support is not great. The 2 UK accounts first mentioned have GREAT customer service, low deposit amounts, good spreads, and are rumored not to work against clients!

I hope my 2 cents helps...  :-\

Hi,

Just wondering why you think Gallant is not honest?
Title: Re: newbie ideal forex broker choice?
Post by: Greeboz on November 07, 2009, 10:33:30 PM
Recommended Brokers : ALPARIUK, FXDD, INTERBANKFX, FXCM, FOREX.COM
Title: Re: newbie ideal forex broker choice?
Post by: paralotnik on November 10, 2009, 04:24:05 AM
I had one too many issues with deleted trades, missing trades, . . .I just am not a fan. Too many fights for losses. That doesn't mean you won't have different experience.
Title: Re: newbie ideal forex broker choice?
Post by: Armando on June 08, 2015, 07:47:04 AM
No doubt, this broker is a well known and reputable broker in the industry. But don't you think their spread and commissions are pretty High ?
Title: Re: newbie ideal forex broker choice?
Post by: 999cjb on June 08, 2015, 08:18:18 AM
Quote from: Greeboz link=msg=21168 date=1257633210

Recommended Brokers : ALPARIUK, FXDD, INTERBANKFX, FXCM, FOREX.COM


This is an illustration of just how much things can change in five years.
Title: Re: newbie ideal forex broker choice?
Post by: diamond on July 10, 2015, 02:36:27 PM
What do you mean by how things changes in 5 years? I think we have some new good brokers in these last five years. In fact, I have not tried above mentioned brokers because of new brokers presence in market and so far I am good.
Title: Re: newbie ideal forex broker choice?
Post by: Kristofer on July 16, 2015, 10:08:55 PM
I think Fresh is good for both beginners and professional traders. They provide good conditions for both. You can scalp. Beginners like it. They offer ECN-account for professional. And there are a lot of promotions here.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on July 21, 2015, 12:10:17 PM
Quote from: Kristofer link=msg=343521 date=1437080935

I think Fresh is good for both beginners and professional traders. They provide good conditions for both. You can scalp. Beginners like it. They offer ECN-account for professional. And there are a lot of promotions here.



You put a good description about this broker.. but for amateur traders. I heard some serious traders run up against slippage problem while trading on big lots with freshforex, that's why it'd better to steer clear from them if traded on high volumes. Personally I trade with average 2-5 lots volume on Hotforex, mostly in news times and breakouts and quite satisfied with them
Title: Re: newbie ideal forex broker choice?
Post by: uzakon on August 02, 2015, 05:13:52 AM
Quote from: Kristofer link=msg=343521 date=1437080935

I think Fresh is good for both beginners and professional traders. They provide good conditions for both. You can scalp. Beginners like it. They offer ECN-account for professional. And there are a lot of promotions here.


I quite agree with you, but I believe that scalping is not very good strategy for newbies. It is better to start with a day trading. Anyaway, FreshForex can be good for beginners just because they don't need to invest lots of money in deposit, they can start with $200, for instance.
Title: Re: newbie ideal forex broker choice?
Post by: vivid on August 12, 2015, 01:06:22 PM
I trade with Mayzus, its a good broker with good reputation. This broker has developed greatly in last 5 years. You don't find any major bad news associated with mayzus broker. It offers some good promotions from time to time which are very good to get benefited as a trader.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on August 18, 2015, 08:47:20 AM
Quote from: uzakon link=msg=344349 date=1438488832

Quote from: Kristofer link=msg=343521 date=1437080935

I think Fresh is good for both beginners and professional traders. They provide good conditions for both. You can scalp. Beginners like it. They offer ECN-account for professional. And there are a lot of promotions here.


I quite agree with you, but I believe that scalping is not very good strategy for newbies. It is better to start with a day trading. Anyaway, FreshForex can be good for beginners just because they don't need to invest lots of money in deposit, they can start with $200, for instance.


naaah, 200$ is too much for newbies, when I discovered forex trading I had only 50$ to start and started with Hotforex micro account were min. deposit was 25$. It's even better if a broker offers cent accounts so you can try real forex with very small amounts of money feel psychology of trading, test emotions, etc.
Title: Re: newbie ideal forex broker choice?
Post by: hardforex on August 19, 2015, 09:23:41 AM
Demo account is ideal for new trader. Real account should be greater 100$.
Title: Re: newbie ideal forex broker choice?
Post by: Nickcole7 on August 21, 2015, 10:28:32 AM
I am just testing OctaFX now. I began with their demo, used it quite a long time and when I understood that there were no some kind of hidden hazards I decided to use the real one. Actually I haven't gave up and as for me their advantage is a good withdrawal process and speed of their services on the whole, better then I expected firstly. I had some issue while dealing with them but their customers service helped me without any delay and much words. Now I am searching for another broker for not just to stop using this one, but for using several at the same - this is my policy to gain profit!)
Title: Re: newbie ideal forex broker choice?
Post by: DoleKom on August 24, 2015, 08:00:47 AM
I belive you won't found any ideal broker. You just have to look for the company with the trading conditions fitting you the best. After all, everyone is clear that successful trading is more interesting to a trader, not a broker. That is why my choice was http://alpari.com/. I reviewed their technical condition, made everything clear for myself about withdrawal, it is also an important fact. I made sure that this broker is always at a good level and then I opened an account with them.
Title: Re: newbie ideal forex broker choice?
Post by: hardforex on August 28, 2015, 06:44:40 AM
FPA + forex-ratings.com, it's a good way to find ideal broker. The reason to refer from 2 sites is they have numerous reviews, then you can have a overall look on brokers you want to open account.
Title: Re: newbie ideal forex broker choice?
Post by: uzakon on August 30, 2015, 10:01:14 AM
Quote from: DoleKom link=msg=345463 date=1440399647

I belive you won't found any ideal broker. You just have to look for the company with the trading conditions fitting you the best. After all, everyone is clear that successful trading is more interesting to a trader, not a broker. That is why my choice was http://alpari.com/. I reviewed their technical condition, made everything clear for myself about withdrawal, it is also an important fact. I made sure that this broker is always at a good level and then I opened an account with them.


Have you already try to withdraw money from Alpari? Is everything OK? I have met some reviews that said that there were some problems with it. 
Title: Re: newbie ideal forex broker choice?
Post by: Armando on October 25, 2015, 06:55:17 PM
Like many other traders, I have had bad experiences with several brokers. I personally used more than 8 brokers on different circumstance, but CMTrading is the best, not any issues of execution speed, requotes, slippage, no fills, etc, unlike the Market Maker brokers. It is an honest forex platform, which never working against the traders. so I guess, this could be the ideal forex broker for newbie :)
Title: Re: newbie ideal forex broker choice?
Post by: Rocky Ward on November 04, 2015, 11:53:18 AM
As a newcomer, it was great difficult to find a regulated trading broker due to lack of knowledge about trading platform. In my trading career, as a Muslims I have suffered a long time for searching a regulated trading platform where it is possible to open a swap free account easily. By the way, after researching a long time, I have found MXTrade trading broker where I have opened my Islamic account without facing any kinds of restrictions. Now, I am getting all trading facilities from this trading platform as like a general trader.  So, my trading life is very much flexible.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on November 10, 2015, 02:11:23 PM
Its hard to suggest some ideal broker as each has its pros and cons and only experience (losses and gains) will give you a clue what are your requirements to the broker.  One of the advantages I consider crucial for a broker is raw spreads+commission which forms cheap ECN platform, I found one at Hotforex, with my second broker FXCM I like to discover new trading instruments, test trading station etc.
Title: Re: newbie ideal forex broker choice?
Post by: uzakon on November 22, 2015, 07:25:28 PM
Quote from: drunkfx link=msg=349223 date=1447164683

Its hard to suggest some ideal broker as each has its pros and cons and only experience (losses and gains) will give you a clue what are your requirements to the broker.  One of the advantages I consider crucial for a broker is raw spreads+commission which forms cheap ECN platform, I found one at Hotforex, with my second broker FXCM I like to discover new trading instruments, test trading station etc.

Is FXCM good? It was a big scandal recently arout its fine. Some issues with a french regulator as I know.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on November 26, 2015, 08:47:08 AM
Quote from: uzakon link=msg=349741 date=1448220328

Quote from: drunkfx link=msg=349223 date=1447164683

Its hard to suggest some ideal broker as each has its pros and cons and only experience (losses and gains) will give you a clue what are your requirements to the broker.  One of the advantages I consider crucial for a broker is raw spreads+commission which forms cheap ECN platform, I found one at Hotforex, with my second broker FXCM I like to discover new trading instruments, test trading station etc.

Is FXCM good? It was a big scandal recently arout its fine. Some issues with a french regulator as I know.


Yeah they also had problems with NFA as they applied assymetrical slippage for their US clients, but later because of NFA investigation reimbursed all losses caused by this trick. But now they act fair I think, though I keep my main account with Hotforex cuz think they're more reliable.
Title: Re: newbie ideal forex broker choice?
Post by: Jason Rogers on December 01, 2015, 12:23:34 AM
Quote from: uzakon link=msg=349741 date=1448220328

Is FXCM good? It was a big scandal recently arout its fine. Some issues with a french regulator as I know.


Hi Uzakon,

That matter pertains to clients back in 2009-2011, and FXCM has since stopped doing business with those firms. We have also implemented enhanced internal control mechanisms of checking introducing brokers and partner companies.

If you have any additional questions about FXCM, please feel free to ask me in our discussion thread: http://www.donnaforex.com/index.php?topic=4878.new#new
Title: Re: newbie ideal forex broker choice?
Post by: Ganza on December 08, 2015, 12:40:52 PM
Quote from: KniGht yOnder link=msg=20799 date=1257353132

hi donnaforex and members,

hi everyone, i am a complete newbie to forex and this is my first post after few weeks of viewing this forum and quite happy to find this forum to be very helpful and especially the honest inputs from the members ( at least i hope most of them are ;D) and thanks to donna's dedication and passion to help out fellow members!!

as a newbie i am looking for a "perfect" broker (after few months of reading about forex and i know that "kind" of brokers don't exist!)  because i will always read some good and bad reviews about some brokers somewhere  ;)  what's worse is that i get more confused the more i read about those "reviews". and i can't really differentiate whether the "good" reviews are from affiliates or "bad reviews are from the brokers' rivals!!! even i can't help but doubt the credibility of those forums like forexpeacearmy.com, pipcops.com and so on .....OMG!!! ( but this one is exceptional with donna being the admin of this forum or something like a guardian, i just have a feeling she is a genuine lady ;D, that's why i choose to post my question here!)

but that's ok certainly nobody can please the whole world and not even Jesus could do that :D  so i am looking for an "ideal" broker with the following criteria and hope some "hero" members can give a recommendation or maybe from donna herself  :P

1.  STP (Straight Through Processing. no or very little delayed execution. i am not going to do
     the scalping thingy so maybe not that crucial for me. i am gonna do manual trading with forex
     rebellion system)

2. low account opening deposit ( i am going to "throw" away $ 500 ;D)

3. acceptable spreads ( not very crucial for me as well i think cos i'm not going for 2- 4 pips 
    scalping gain)

4. brokers that do not work against their clients ( requotes, slippage etc)

5. and no withdrawal problems ( as i read some threads where people have this problems, being 
    scared of some scam brokers will take my money!!!  :o)

ok that's it. i am just a small guy from somewhere in asia pacific region, looking for enlightenment from you gurus! thank you!! ( anyway i like this forum :-*)

well i have accounts with several broker
and we out there we have a lot of broker who accept low deposit
but currentily my main account held with tickmill ECN account,
they are ECN / STP, have low spreads start from 0 with their ECN account, and starts from 1.2 pips for their no commisions account.and no problem with withdrawal

my secondary account are with Instaforex, i know some of people said they have high spreads and fishy .but theeir IB offer big rebate
Title: Re: newbie ideal forex broker choice?
Post by: Kristofer on January 18, 2016, 09:10:16 PM
There is no minimum deposit requirement in freshforex. For beginners it is a good opportunity to start trading. And, you can use  bonuses that they offer, many of them help to trade as well as to top up your account. You can withdraw the earned money in time, exactly as specified on their website.You can pick up  any payment system
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on January 19, 2016, 10:23:47 AM
Quote from: Ganza link=msg=350180 date=1449578452

Quote from: KniGht yOnder link=msg=20799 date=1257353132

hi donnaforex and members,

hi everyone, i am a complete newbie to forex and this is my first post after few weeks of viewing this forum and quite happy to find this forum to be very helpful and especially the honest inputs from the members ( at least i hope most of them are ;D) and thanks to donna's dedication and passion to help out fellow members!!

as a newbie i am looking for a "perfect" broker (after few months of reading about forex and i know that "kind" of brokers don't exist!)  because i will always read some good and bad reviews about some brokers somewhere  ;)  what's worse is that i get more confused the more i read about those "reviews". and i can't really differentiate whether the "good" reviews are from affiliates or "bad reviews are from the brokers' rivals!!! even i can't help but doubt the credibility of those forums like forexpeacearmy.com, pipcops.com and so on .....OMG!!! ( but this one is exceptional with donna being the admin of this forum or something like a guardian, i just have a feeling she is a genuine lady ;D, that's why i choose to post my question here!)

but that's ok certainly nobody can please the whole world and not even Jesus could do that :D  so i am looking for an "ideal" broker with the following criteria and hope some "hero" members can give a recommendation or maybe from donna herself  :P

1.  STP (Straight Through Processing. no or very little delayed execution. i am not going to do
     the scalping thingy so maybe not that crucial for me. i am gonna do manual trading with forex
     rebellion system)

2. low account opening deposit ( i am going to "throw" away $ 500 ;D)

3. acceptable spreads ( not very crucial for me as well i think cos i'm not going for 2- 4 pips 
    scalping gain)

4. brokers that do not work against their clients ( requotes, slippage etc)

5. and no withdrawal problems ( as i read some threads where people have this problems, being 
    scared of some scam brokers will take my money!!!  :o)

ok that's it. i am just a small guy from somewhere in asia pacific region, looking for enlightenment from you gurus! thank you!! ( anyway i like this forum :-*)

well i have accounts with several broker
and we out there we have a lot of broker who accept low deposit
but currentily my main account held with tickmill ECN account,
they are ECN / STP, have low spreads start from 0 with their ECN account, and starts from 1.2 pips for their no commisions account.and no problem with withdrawal

my secondary account are with Instaforex, i know some of people said they have high spreads and fishy .but theeir IB offer big rebate


Shame on you dude. Luring unconscious newbies to that bucketshop just for rebates.. find some better options I'm IB with Hotforex and they offer 50-60% from their spread, sure its much better than Insta offers
Title: Re: newbie ideal forex broker choice?
Post by: lucie_fxtrader on January 29, 2016, 03:35:41 PM
Hi,

this is a really helpful thread as I am a newbie myself and is good to see other peoples experiences with brokers so to choose the good ones. I would like to ask, I came across this new STP broker Vipro Markets, with min deposit 25, has anyone traded with them? If yes, please share your opinion.
Title: Re: newbie ideal forex broker choice?
Post by: JulioPipo on February 10, 2016, 11:42:08 AM
Quote from: lucie_fxtrader link=msg=351843 date=1454081741

Hi,

this is a really helpful thread as I am a newbie myself and is good to see other peoples experiences with brokers so to choose the good ones. I would like to ask, I came across this new STP broker Vipro Markets, with min deposit 25, has anyone traded with them? If yes, please share your opinion.


I am currently testing some news and correlation EAs with them, at this stage at demo but the feed and execution is good.
Title: Re: newbie ideal forex broker choice?
Post by: Rocky Ward on March 15, 2016, 11:08:41 AM
As a beginner, we the traders have to trade in regulated trading brokers which make sure security of funds, free demo account for practicing, customer service, proper transaction system, and much more.  Because of these real trading facilities I have chosen MXTade trading broker which is mainly considered as an EU regulated trading broker by the high authorize in this market place.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on March 28, 2016, 01:02:36 PM
Well I think the only broker I have an edge with is Hotforex. They offers account types which exactly fit my needs I can test different strategies with different executions, charges, they can even fit account for my personal needs per request. I couldn't find it anywhere else.
Title: Re: newbie ideal forex broker choice?
Post by: donalduck on March 29, 2016, 10:26:13 AM
Most top brokers have various account options from no com, no spread to fixed spread or MAMM, PAMM, Zulutrade. I think your broker could be one among of them.
Title: Re: newbie ideal forex broker choice?
Post by: growing_mark on April 12, 2016, 10:57:36 AM
Hello. I'm looking for this kind of broker too. Did you make up your mind? Which broker did you choose?
Title: Re: newbie ideal forex broker choice?
Post by: donothing_jame on April 16, 2016, 12:39:06 PM
I heard that some brokers doesn't accept newbie's stragety, it's right?
Title: Re: newbie ideal forex broker choice?
Post by: Rebuy on April 24, 2016, 12:25:10 PM
Hey guys! Is there any updates about the brokers?
Which broker is most reliable?
Title: Re: newbie ideal forex broker choice?
Post by: growing_mark on April 26, 2016, 04:00:16 PM
Quote from: donothing_jame link=msg=354149 date=1460806746

I heard that some brokers doesn't accept newbie's stragety, it's right?

yes. That's true, so be very careful when choosing broker
Title: Re: newbie ideal forex broker choice?
Post by: growing_mark on May 05, 2016, 02:59:11 PM
Quote from: Rebuy link=msg=354327 date=1461497110

Hey guys! Is there any updates about the brokers?
Which broker is most reliable?

I don't think that anyone have tried all brokers to find out which one is the best.
it depends on your strategy. since some broker dont allow scalping
for me, I go for reliable lience, chose VIpro market, however they're new name in the market, so I I didn't deposit much in the first time.
Title: Re: newbie ideal forex broker choice?
Post by: lonewolf on May 17, 2016, 04:21:30 AM
ICMarkets, Global prime, Axitrader, any well regulated broker will do fine.
Title: Re: newbie ideal forex broker choice?
Post by: lonewolf on May 18, 2016, 06:03:46 AM
Todd, I believe Global Prime, ICMarkets and Axitrader are also True ECN, I've never had issue with them and have traded with them for 3 or so years.   
There are many reliable brokers, I am happy with the 3 I mentioned, not to say they are the only 3 :)
Title: Re: newbie ideal forex broker choice?
Post by: lonewolf on May 18, 2016, 01:24:23 PM
It is :) I prefer True ECN too, I will check them out for sure when I am need of another Broker, thanks for the option!
Good luck to everyone trading FX  8)


Quote from: Todd link=msg=354877 date=1463569396

Quote from: lonewolf link=msg=354868 date=1463547826

Todd, I believe Global Prime, ICMarkets and Axitrader are also True ECN, I've never had issue with them and have traded with them for 3 or so years.   
There are many reliable brokers, I am happy with the 3 I mentioned, not to say they are the only 3 :)


If that so then great, I mean ultimately itís all about been satisfied and happy, it doesnít matter if those brokers are ECN or not, if youíre satisfied then thatís the important part. I will definitely check out those 3 you mention and per you, if you get time or in future if you need to join any other broker then I suggests you to try OctaFX, itís definitely one of the best and I bet you wonít regret itÖ. Anyway good luck with your brokers hope you continue to get success.
Title: Re: newbie ideal forex broker choice?
Post by: Jason Rogers on June 24, 2016, 12:27:27 AM
It's worth noting FXCM's spreads (http://bit.ly/28QpCNa) have improved considerably since the time Jenks posted about them back in 2009.  :)

(https://donnaforex.com/proxy.php?request=http%3A%2F%2Fi.imgur.com%2FnONQBJR.png&hash=17382aea2fd13ea6a90d796d34a3661a) (http://bit.ly/28QpCNa)
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on June 26, 2016, 01:28:55 PM
Well talking about spreads I'd suggest to try Hotforex, their zero spread account is probably best option for news trading as spreads are kept low during news release and commission is fixed so you won't be worry about spread widening.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on June 27, 2016, 11:36:44 PM
Quote from: Phil Emery link=msg=355963 date=1467055862

Drunkfx, thatís where you got to read it well, if you say zero spread and then add about commission then sorry, but whatís the point of zero commission? I am sorry but tell me seriously what do you think makes it good? I would rather go with low spread with no commission then to have paying commission which is mostly higher than usual spread, I suggest you to try OctaFX where 0.1 pip is the starting spread and there are no commission.


The idea of commission is to keep spreads low without jumps to several pips on news events, I know lots of brokers which offer 0.1-0.5 pip spread& no commission but widen them if you are active scalper and put some delay on your order what makes some trading strategies impossible to use. That's why i prefer to pay a bit more to Hotforex but get better and reliable STP fills, rather than trading with market maker.
Hope you got the point  ;)
Title: Re: newbie ideal forex broker choice?
Post by: lonewolf on August 15, 2016, 02:48:19 AM
You've already promoted octafx in this thread Todd. Go to the octafx thread and sing praise about them there. Thanks.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on August 31, 2016, 06:30:52 PM
Quote from: lonewolf link=msg=357110 date=1471225699

You've already promoted octafx in this thread Todd. Go to the octafx thread and sing praise about them there. Thanks.


Haha yeah too many spammers attacking threads with their useless comments. So hard to find a person who is really in trading and can share their valuable experience.
Title: Re: newbie ideal forex broker choice?
Post by: Humble Trader's Fx on October 30, 2016, 12:38:40 PM
I don't see much value in this thread other than to give "broker sales reps", a platform to make their sales pitches.

What I do find useful is Wall Street's new add-on, "Broker Spy Module" in their new Evolution 2.0 EA. But this would only be useful if such a module was incorporated by the majority of EA developers and there was a central non biased body, which would compile the data and publish it; only then would we be able to determine the crooks from the true "brokers".

The industry needs to clean up its act!

Regards,
Ilios Ellas ;)
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on October 31, 2016, 03:34:32 AM
Quote from: iliosellas link=msg=358611 date=1477831120

I don't see much value in this thread other than to give "broker sales reps", a platform to make their sales pitches.

What I do find useful is Wall Street's new add-on, "Broker Spy Module" in their new Evolution 2.0 EA. But this would only be useful if such a module was incorporated by the majority of EA developers and there was a central non biased body, which would compile the data and publish it; only then would we be able to determine the crooks from the true "brokers".

The industry needs to clean up its act!

Regards,
Ilios Ellas ;)



I doubt you don't offer just a BS of some other degree.
If not broker then EA promo.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on November 02, 2016, 06:12:13 PM
Newbies can start with demo account, they are same on all brokers, although you can find brokers with free unlimited demo such as Hotforex to so your strategy test results and trading history won't be deleted if you don't use account for a long time. After you got enough practice then its time to switch on live but only with small deposit like 100-200$ trading 0.1 lot for 2-3 months, then gradually increasing lot size. Never change your R/R ratio I mean chaotically otherwise you are doomed to lose. 
Title: Re: newbie ideal forex broker choice?
Post by: Corey Anderson on March 23, 2017, 10:19:09 AM
For the newcomers choosing a ideal broker is very difficult task , I think before investing large capital it would be great if we kick off live account several brokers with little amount to see the performance how it works. This trading approach can help us to find a ideal broker with certainly.   please donít choose a broker in an emotional state.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on May 02, 2017, 07:37:33 AM
For the newcomers choosing a ideal broker is very difficult task , I think before investing large capital it would be great if we kick off live account several brokers with little amount to see the performance how it works. This trading approach can help us to find a ideal broker with certainly.   please donít choose a broker in an emotional state.
What do you mean under emotional state? I only experience emotions related to trading when I open some high risk trade and start to feel greed or fear. I chose my broker Hotforex just checking it with some of my special criterion like regulation, execution speed, spreads, platform lags but I can not understand how I could feel emotional during that process.
Title: Re: newbie ideal forex broker choice?
Post by: Forex Grandeur on June 05, 2017, 07:39:17 PM
Among the hundreds of broker out there, you can easily go with a broker that fulfills your requirements. And your basic requirements should be regulation, secure transaction, low spread, flexible deposit and withdrawals. I guess you can find all the with IMMFX broker. Choice wisely mate
Title: Re: newbie ideal forex broker choice?
Post by: forexbaby on June 06, 2017, 01:55:38 AM
not all broker the same

regulation
spread
 ;D
Title: Re: newbie ideal forex broker choice?
Post by: litecoin on June 15, 2017, 01:10:37 PM
For newbies the first choice should be instant withdraw because they are worried about payments. The regulations and execution of orders is later part.
Title: Re: newbie ideal forex broker choice?
Post by: Matty on June 26, 2017, 09:40:55 AM
I as a newbie need simple broker, whatís the point to look for something else, if you understand everything here?
Title: Re: newbie ideal forex broker choice?
Post by: Track on June 26, 2017, 09:44:21 AM
People trade where itís comfortable for them, not where it's easier, what are u talkin about?
Title: Re: newbie ideal forex broker choice?
Post by: Matty on June 26, 2017, 09:46:08 AM
Maybe so, itís only your choice. I'm just expressing my opinion.
Title: Re: newbie ideal forex broker choice?
Post by: Antje Wagner on June 27, 2017, 09:36:23 AM
"simple" is a relative term ;) for a few it means "easy to open, easy to deposit, easy to withdraw" for others it means "courteous support team" and for some it might mean "reliable broker to have a comfortable trading".

everyone has his own interpretation of who is the best broker for the own trading.
Title: Re: newbie ideal forex broker choice?
Post by: HFT Group on June 27, 2017, 10:15:40 AM
I as a newbie need simple broker, whatís the point to look for something else, if you understand everything here?

Hi Matty..........Hard to get a straight answer here sometimes! IC Markets is a great broker for newbies. Great spreads and competitive commission charges. Well established and honest. Tickmill is also a great choice.
Title: Re: newbie ideal forex broker choice?
Post by: forexbaby on June 27, 2017, 01:49:32 PM
but ICM sometime has problem with server. hanged when red news

can be scary  8)
Title: Re: newbie ideal forex broker choice?
Post by: HFT Group on June 27, 2017, 01:55:48 PM
but ICM sometime has problem with server. hanged when red news

can be scary  8)

Really?  I don't trade during news events so haven't experienced this. No negative reports from clients either but will certainly post if I hear this.
Title: Re: newbie ideal forex broker choice?
Post by: Matty on July 04, 2017, 08:58:47 AM
 I choose liteforex. I think also frightened before starting it. I lose in it but gradually I made profit in it . Forex may be difficult for many people but it is not reality that more than 90% are fail in forex market.
Title: Re: newbie ideal forex broker choice?
Post by: Track on July 04, 2017, 09:03:44 AM
Maybe main reason for this is that as trading is a business where there is not boundaries to limit your decisions so traders take emotional trades and lose money heavily.
Title: Re: newbie ideal forex broker choice?
Post by: b_strohkirch on July 05, 2017, 02:08:42 PM
is there an European broker you would recommend fro a newbie?
Title: Re: newbie ideal forex broker choice?
Post by: Trunk on August 13, 2017, 03:19:22 PM
I as a newbie need simple broker, whatís the point to look for something else, if you understand everything here?

Simpler doesn't mean safer. Simple brokers sometimes have tricky T&S so you have to always pay attention to some aspects like fund safety, regulation, execution policy, etc.
Title: Re: newbie ideal forex broker choice?
Post by: Benjamin7 on August 27, 2017, 06:45:11 PM
Well, it would actually be logical to pay tax from the profit, for the development of the country, business, etc. But how do you count this tax? ??? The profit sum is different everytime, sometimes it can even go into the red. And there's not always confidence that the taxes will go in the right direction.
Title: Re: newbie ideal forex broker choice?
Post by: Trunk on August 28, 2017, 03:01:10 PM
Well, it would actually be logical to pay tax from the profit, for the development of the country, business, etc. But how do you count this tax? ??? The profit sum is different everytime, sometimes it can even go into the red. And there's not always confidence that the taxes will go in the right direction.

That's why most Non-US brokers offer withdrawals from online payment systems like Skrill because its more convenient. I think you may pay taxes from withdrawals of that money to your bank account.
Title: Re: newbie ideal forex broker choice?
Post by: Diego on August 29, 2017, 07:48:35 PM
I know how hard it is for a newbie at the beginning of the way to choose a broker. You don't know what parameters to follow. I'll tell you this, you should look at the expiration period of the broker, its trading conditions, speed of payments, regulations. And don't listen to advice about choosing a specific broker.
Title: Re: newbie ideal forex broker choice?
Post by: Trunk on September 05, 2017, 05:53:47 PM
I know how hard it is for a newbie at the beginning of the way to choose a broker. You don't know what parameters to follow. I'll tell you this, you should look at the expiration period of the broker, its trading conditions, speed of payments, regulations. And don't listen to advice about choosing a specific broker.

From your first sentences I believed you must have some valuable and genuine advice for newbies, but after "expiration period of the broker" this idea abandoned my mind  ;D
How a company can have an expiration period?
Title: Re: newbie ideal forex broker choice?
Post by: Armando on September 18, 2017, 04:43:32 PM
Ad removed
Title: Re: newbie ideal forex broker choice?
Post by: JohnyIve on April 16, 2018, 04:04:55 AM
For quick adaptation and unerstanding some hidden aspects of forex market you have to choose broker very carefuly. First of all it's necesary to check rergulations and licence. After that look attentively to platform. For newbies it will be great to choose MT 4 (or even better is MT 5). And of course min. depo should be really minimum.. I guess from 50-200$.
I heard Amarkets integrated MT 5 platform and refreshed Education Center so it is now really nice chance to understand market with exactly this one broker.
Title: Re: newbie ideal forex broker choice?
Post by: Paul.Trafford on July 24, 2018, 01:00:17 PM
I know how hard it is for a newbie at the beginning of the way to choose a broker. You don't know what parameters to follow. I'll tell you this, you should look at the expiration period of the broker, its trading conditions, speed of payments, regulations. And don't listen to advice about choosing a specific broker.

From your first sentences I believed you must have some valuable and genuine advice for newbies, but after "expiration period of the broker" this idea abandoned my mind  ;D
How a company can have an expiration period?

I also mention that :D :D :D expiring broker it may be a typo
In my opinion the best way to select broker is to try few and compare the conditions. You could have demo to get rough idea of the conditions and chase the support. If they are responsive and answering all inconvenient questions Ė it is a good sign 😉
Title: Re: newbie ideal forex broker choice?
Post by: Trunk on July 24, 2018, 08:35:25 PM
Yeah often big companies doesn't bother to deal with new clients, helping them in every detail. This can be quite unpleasant during first exposure to the broker
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on August 28, 2018, 09:15:07 AM
I know how hard it is for a newbie at the beginning of the way to choose a broker. You don't know what parameters to follow. I'll tell you this, you should look at the expiration period of the broker, its trading conditions, speed of payments, regulations. And don't listen to advice about choosing a specific broker.

From your first sentences I believed you must have some valuable and genuine advice for newbies, but after "expiration period of the broker" this idea abandoned my mind  ;D
How a company can have an expiration period?

I also mention that :D :D :D expiring broker it may be a typo
In my opinion the best way to select broker is to try few and compare the conditions. You could have demo to get rough idea of the conditions and chase the support. If they are responsive and answering all inconvenient questions Ė it is a good sign 😉

These are basic requirements for a broker, only outright scam can fail at that test. Most of more sophisticated scams don't pass live execution test, since their slow servers and greedy execution model can't offer decent trading experience
Title: Re: newbie ideal forex broker choice?
Post by: Loperte on November 27, 2018, 11:49:53 AM
My favorite forex brokers for beginners
Best Overall: Forex.com.
Best Regulated: Forex.com.
Best Platform/Ease of Use: Forex.com.
Best In Terms of Educational Resources Offered: Ally Invest, Forex.com, TD Ameritrade.
Best Affordability (Lowest Fees & Commissions): Oanda.
Best Customer Support: Forex.com.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on December 15, 2018, 11:48:10 AM
My favorite forex brokers for beginners
Best Overall: Forex.com.
Best Regulated: Forex.com.
Best Platform/Ease of Use: Forex.com.
Best In Terms of Educational Resources Offered: Ally Invest, Forex.com, TD Ameritrade.
Best Affordability (Lowest Fees & Commissions): Oanda.
Best Customer Support: Forex.com.

Looks like you mentioned brokers for US citizens, if you consider offshore CYSEC regulated brokers are much flexible, offering higher leverage and bigger ECN network of liquidity providers. Glad that I live outside of US and can avail of all this features on my Hotforex platform.
Title: newbie ideal forex broker choice
Post by: brichardWab on May 07, 2019, 10:36:04 PM
I would like to recommend TenkoFX. It is not for that I am using this broker, but because everyone deserves a good forex broker who will support them till the end. And my broker will be the right choice for new or professional traders. My broker always values my trading method no matter which one I use. It always beside me that is why I can make good profits from my trades.
Title: Re: newbie ideal forex broker choice
Post by: drunkfx on May 13, 2019, 04:03:27 PM
I would like to recommend TenkoFX. It is not for that I am using this broker, but because everyone deserves a good forex broker who will support them till the end. And my broker will be the right choice for new or professional traders. My broker always values my trading method no matter which one I use. It always beside me that is why I can make good profits from my trades.

TenkoFX paid posters returned to the forum. Welcome back, hope forum members won't swallow this bait.
Title: Re: newbie ideal forex broker choice?
Post by: RebelRebel on May 14, 2019, 11:08:11 PM
Hi,
I am moving from Spreadbetting to Forex (to avoid the ESMA obviously). I live in Ireland. I have been demo trading with IC Markets, and they seem fine. I have done a fair bit of research, but there is a firehose of info out there, so just going to bang my questions up here and hopefully some nice peeps will help me.

1. Should I go with Standard account or True ECN?
I will be placing approximately 40-50 live trades a week (max). Holding trades from a few hours to 1-2 days.

2. Should I use an Introducing broker? I have read about rebates and stuff like that, and wondering is it cheaper to go via an IB, or does it make much difference, or anything else I should be aware of.

Finally, I see above that someone is raving about forex.com. Presume they should be as suitable as IC Markets so will take a look. Any info greatly appreciated.
Thanks
Title: Re: newbie ideal forex broker choice?
Post by: HFT Group on May 15, 2019, 06:08:08 AM
Hi,
I am moving from Spreadbetting to Forex (to avoid the ESMA obviously). I live in Ireland. I have been demo trading with IC Markets, and they seem fine. I have done a fair bit of research, but there is a firehose of info out there, so just going to bang my questions up here and hopefully some nice peeps will help me.

1. Should I go with Standard account or True ECN?
I will be placing approximately 40-50 live trades a week (max). Holding trades from a few hours to 1-2 days.

2. Should I use an Introducing broker? I have read about rebates and stuff like that, and wondering is it cheaper to go via an IB, or does it make much difference, or anything else I should be aware of.

Finally, I see above that someone is raving about forex.com. Presume they should be as suitable as IC Markets so will take a look. Any info greatly appreciated.
Thanks

Welcome to the forum :)

True ECN account is cheaper overall as the spread increase on Standard accounts is generally higher in $ value than the commission charge on ECN accounts. (Usually 1 pip or $10 per lot on Standard as opposed to $7.00 per lot on ECN).

Using a reputable IB is a great idea both for the dollars saved in commission charges or earned in rebates and support offered.
The forum offers a competitive IB deal for IC Markets amongst many others :
https://donnaforex.com/index.php?topic=19393.0 (https://donnaforex.com/index.php?topic=19393.0)
Title: Re: newbie ideal forex broker choice?
Post by: RebelRebel on May 15, 2019, 02:35:42 PM
Thanks.
I have already registered my email address with them. Am I able to get it migrated across to get the rebate?
Title: Re: newbie ideal forex broker choice?
Post by: HFT Group on May 15, 2019, 10:48:12 PM
Thanks.
I have already registered my email address with them. Am I able to get it migrated across to get the rebate?

If you have already opened an account you can email your account number to support@icmarkets.com and request it be transferred to 'IB=10176' (the forum IB id).

If you haven't opened an account yet use the link provided previously and a different email address.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on May 20, 2019, 03:36:05 PM
Hi,
I am moving from Spreadbetting to Forex (to avoid the ESMA obviously). I live in Ireland. I have been demo trading with IC Markets, and they seem fine. I have done a fair bit of research, but there is a firehose of info out there, so just going to bang my questions up here and hopefully some nice peeps will help me.

1. Should I go with Standard account or True ECN?
I will be placing approximately 40-50 live trades a week (max). Holding trades from a few hours to 1-2 days.

2. Should I use an Introducing broker? I have read about rebates and stuff like that, and wondering is it cheaper to go via an IB, or does it make much difference, or anything else I should be aware of.

Finally, I see above that someone is raving about forex.com. Presume they should be as suitable as IC Markets so will take a look. Any info greatly appreciated.
Thanks

Well if you want to generate risk-free cash for some third-party guys risking your own money and spending your own time in trading.. then feel free to subscribe to rebate service firms. They are not businessmen, they are arbitrageurs. They take % of spread generated by your trading volume which broker pays them on permanent basis. Simply because you informed your broker that you want to pay them  ;D ;D  including their IB number in your own account.


 According to my experience it's better to register an account for some friend or relative, generate an IB link from their account and then create your own account through this IB link. You will get "max rebate" doing in this way.
Title: Re: newbie ideal forex broker choice?
Post by: HFT Group on May 20, 2019, 10:41:25 PM
Hi,
I am moving from Spreadbetting to Forex (to avoid the ESMA obviously). I live in Ireland. I have been demo trading with IC Markets, and they seem fine. I have done a fair bit of research, but there is a firehose of info out there, so just going to bang my questions up here and hopefully some nice peeps will help me.

1. Should I go with Standard account or True ECN?
I will be placing approximately 40-50 live trades a week (max). Holding trades from a few hours to 1-2 days.

2. Should I use an Introducing broker? I have read about rebates and stuff like that, and wondering is it cheaper to go via an IB, or does it make much difference, or anything else I should be aware of.

Finally, I see above that someone is raving about forex.com. Presume they should be as suitable as IC Markets so will take a look. Any info greatly appreciated.
Thanks

Well if you want to generate risk-free cash for some third-party guys risking your own money and spending your own time in trading.. then feel free to subscribe to rebate service firms. They are not businessmen, they are arbitrageurs. They take % of spread generated by your trading volume which broker pays them on permanent basis. Simply because you informed your broker that you want to pay them  ;D ;D  including their IB number in your own account.


 According to my experience it's better to register an account for some friend or relative, generate an IB link from their account and then create your own account through this IB link. You will get "max rebate" doing in this way.

If it was that easy surely everyone would do it? Sure, some brokers offer referral incentives and affiliate commissions for 'referring friends' but many have prerequisites before handing out IB deals. These could be a minimum monthly volume and/or minimum amount of clients. To clarify - IB commissions are paid from the brokers cut and SHOULD NOT affect the clients trading in any way other than reducing the commission rate they pay, reducing the spread or providing a rebate back into their trading account or rebate account.
Reputable IB's will also offer clients a high level of support and generally have dedicated partner managers at brokers for fast resolution of any client issues.
Title: Re: newbie ideal forex broker choice?
Post by: joss98 on May 21, 2019, 09:39:07 AM
There is no base store necessity in freshforex. For fledglings it is a decent chance to begin exchanging. Also, you can utilize rewards that they offer, a large number of them help to exchange just as to top up your record. You can pull back the earned cash in time, precisely as indicated on their website.You can get any installment framework
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on June 03, 2019, 07:51:49 AM
Hi,
I am moving from Spreadbetting to Forex (to avoid the ESMA obviously). I live in Ireland. I have been demo trading with IC Markets, and they seem fine. I have done a fair bit of research, but there is a firehose of info out there, so just going to bang my questions up here and hopefully some nice peeps will help me.

1. Should I go with Standard account or True ECN?
I will be placing approximately 40-50 live trades a week (max). Holding trades from a few hours to 1-2 days.

2. Should I use an Introducing broker? I have read about rebates and stuff like that, and wondering is it cheaper to go via an IB, or does it make much difference, or anything else I should be aware of.

Finally, I see above that someone is raving about forex.com. Presume they should be as suitable as IC Markets so will take a look. Any info greatly appreciated.
Thanks

Well if you want to generate risk-free cash for some third-party guys risking your own money and spending your own time in trading.. then feel free to subscribe to rebate service firms. They are not businessmen, they are arbitrageurs. They take % of spread generated by your trading volume which broker pays them on permanent basis. Simply because you informed your broker that you want to pay them  ;D ;D  including their IB number in your own account.


 According to my experience it's better to register an account for some friend or relative, generate an IB link from their account and then create your own account through this IB link. You will get "max rebate" doing in this way.

If it was that easy surely everyone would do it? Sure, some brokers offer referral incentives and affiliate commissions for 'referring friends' but many have prerequisites before handing out IB deals. These could be a minimum monthly volume and/or minimum amount of clients. To clarify - IB commissions are paid from the brokers cut and SHOULD NOT affect the clients trading in any way other than reducing the commission rate they pay, reducing the spread or providing a rebate back into their trading account or rebate account.
Reputable IB's will also offer clients a high level of support and generally have dedicated partner managers at brokers for fast resolution of any client issues.

It's easy, but many don't know about this option. And it is totally legal, since it works like you simply referred a friend or relative, but it's a kind of reverse process.
Title: Re: newbie ideal forex broker choice?
Post by: HFT Group on June 03, 2019, 08:14:58 AM
Hi,
I am moving from Spreadbetting to Forex (to avoid the ESMA obviously). I live in Ireland. I have been demo trading with IC Markets, and they seem fine. I have done a fair bit of research, but there is a firehose of info out there, so just going to bang my questions up here and hopefully some nice peeps will help me.

1. Should I go with Standard account or True ECN?
I will be placing approximately 40-50 live trades a week (max). Holding trades from a few hours to 1-2 days.

2. Should I use an Introducing broker? I have read about rebates and stuff like that, and wondering is it cheaper to go via an IB, or does it make much difference, or anything else I should be aware of.

Finally, I see above that someone is raving about forex.com. Presume they should be as suitable as IC Markets so will take a look. Any info greatly appreciated.
Thanks

Well if you want to generate risk-free cash for some third-party guys risking your own money and spending your own time in trading.. then feel free to subscribe to rebate service firms. They are not businessmen, they are arbitrageurs. They take % of spread generated by your trading volume which broker pays them on permanent basis. Simply because you informed your broker that you want to pay them  ;D ;D  including their IB number in your own account.


 According to my experience it's better to register an account for some friend or relative, generate an IB link from their account and then create your own account through this IB link. You will get "max rebate" doing in this way.

If it was that easy surely everyone would do it? Sure, some brokers offer referral incentives and affiliate commissions for 'referring friends' but many have prerequisites before handing out IB deals. These could be a minimum monthly volume and/or minimum amount of clients. To clarify - IB commissions are paid from the brokers cut and SHOULD NOT affect the clients trading in any way other than reducing the commission rate they pay, reducing the spread or providing a rebate back into their trading account or rebate account.
Reputable IB's will also offer clients a high level of support and generally have dedicated partner managers at brokers for fast resolution of any client issues.

It's easy, but many don't know about this option. And it is totally legal, since it works like you simply referred a friend or relative, but it's a kind of reverse process.

Cool............go do it with say Axitrader, Pepperstone or LMAX and let us know how you go.
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on June 04, 2019, 05:13:34 PM
I do it with Tickmill and Hotforex I would place them in the same list with LMAX, so I guess people should grab the opportunity where it exists.
Title: Re: newbie ideal forex broker choice?
Post by: HFT Group on June 04, 2019, 10:01:34 PM
I do it with Tickmill and Hotforex I would place them in the same list with LMAX, so I guess people should grab the opportunity where it exists.

Tickmill and Hotforex both offer affiliate type deals for referring friends as do IC Markets. These are not IB agreements. And no, LMAX do not offer this and are one of the most difficult brokers to get an IB deal with. Google 'LMAX rebates' and you will see the limited amount of offers for them. Then Google 'Hotforex rebates' and see all the affiliates offering deals.

Anyone can do this for sure. Go open an affiliate account via the forums Cashbackforex page and offer all the deals you want https://www.cashbackforex.com/#aid_153824 (https://www.cashbackforex.com/#aid_153824)
Title: Re: newbie ideal forex broker choice?
Post by: drunkfx on June 12, 2019, 03:57:28 PM
It's not about IB, its about rebates, I guess there are a few IB that would agree to share their profit with clients in rebate scheme. It is simply not profitable like you give 80% from broker reward to the client. And as I see LMAX is less flexible in terms of deposit and withdrawal options, as well as account types than Hotforex or Tickmill.