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Author Topic: RECOMMENDED BROKER  (Read 1940 times)

Offline Daubert

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RECOMMENDED BROKER
« on: June 21, 2018, 09:10:28 AM »
Good morning traders,

I have done some research over the last few weeks on the best broker to choose to run my EA on and to do some manual trading as well.

What I am interested in is a reliable old broker with a good track record and low spreads. I also don't want to struggle to withdraw my winnings from my account.

I am based in South Africa, but I am not limited to brokers in my country.

Any good recommendations out there?

Thank you guys

Daubert

Offline Foxy_Trader

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Re: RECOMMENDED BROKER
« Reply #1 on: June 22, 2018, 04:15:53 PM »
Try Tickmill. Solid regulation, good execution and support is ok.  :) :)

Offline Trunk

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Re: RECOMMENDED BROKER
« Reply #2 on: June 27, 2018, 09:59:08 PM »
Try Tickmill. Solid regulation, good execution and support is ok.  :) :)

Is it a recommendation from a trader who has been already trading with them? Could you please share results of your trading, at least mentioning pros and cons?

Offline Foxy_Trader

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Re: RECOMMENDED BROKER
« Reply #3 on: June 28, 2018, 09:19:50 AM »
Try Tickmill. Solid regulation, good execution and support is ok.  :) :)

Is it a recommendation from a trader who has been already trading with them? Could you please share results of your trading, at least mentioning pros and cons?

Yes. If I would not use them I would not know anything about their execution, would I?
Pros and Cons are mention in my post, perhaps it would be a good idea to read it before answering?



Offline mike348

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Re: RECOMMENDED BROKER
« Reply #4 on: June 28, 2018, 11:45:00 AM »
An overriding factor that cuts in on 1st August 2018 is the European Securities and Markets Authority (ESMA) is limiting leverage on FX trading for all retail clients.
This will impact the UK which is still part of the EU until next year, one of the leading financial centres in the world.

The finance sector lobbied against it but to no avail.

New Margins as set by the ESMA will be:

Major FX Pairs: 30-1
Minor FX Pairs: 20-1

That will be a problem for most retail traders with accounts at UK and all european registered brokerages whenever there is market volatility and we are seeing more of that latterly and more will be coming soon.

FH trading houses should have notified their clients by now. However a number including Tickmill are still promoting leverage of 1:500 on their websites. Others such as LMAX have revamped their front pages in the last few days and as you can see no longer make any reference to retail traders its all institutional and professional only now.

The other point worth making is that those two investor categories (institutional and professional); not that any of us would qualify have no financial safety net. All funds deposited are treated as part of the institutions funds in case of severe trading calamities. Remember Alpari - became insolvent due to retail traders funds exceeeded by their trading losses on one day due to Swiss Franc shock volatiliy?     

Michael


Offline Trunk

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Re: RECOMMENDED BROKER
« Reply #5 on: June 28, 2018, 04:01:35 PM »
Try Tickmill. Solid regulation, good execution and support is ok.  :) :)

Is it a recommendation from a trader who has been already trading with them? Could you please share results of your trading, at least mentioning pros and cons?

Yes. If I would not use them I would not know anything about their execution, would I?
Pros and Cons are mention in my post, perhaps it would be a good idea to read it before answering?

I mean you mentioned some general things, what I wanted to hear from you instead are the advantages you found related directly to you trading style. For example for scalpers it can be latency speed, for swing long-term traders it's rollover spreads which usually widen and often unpexctedly trigger stops, etc.

 

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