Check: * platform(s) - does it suit your needs in terms of look&feel, webbased ot not; indicators you use etc. It has to fit your strategy. * possible order types (with trailing stops) * can you scale in and out with separate orders or do they combine with one TP and SL * spread (of your preferred instruments) * (extra) commissions * inactivity fee * minimal ordersize * minimum accountsize
Good checklist Onra. Ive been in the market for a while, and I find these list quite critical. Plus regulation is equally important and can't be ignored. I'm not saying any local brokers would do. If you're in EU, solid regulators like cysec, fca should be good to start with. I'm testing out fxview, fxpro and see how it rolls, the conditions seem impressive on the outside, gotta pick one to the list. Anyone having good or bad experience with them?
If the conditions seem good, then it is not a fact that they will be just as good in the process. But worth a try.
Both are fine. If you're scalping-core, fxview is much better option since their spreads and commissions are lower comparatively. But you may start small in both accounts and find your real taste
Brokers are intermediaries between a trader and market. Unfortunately, you cannot start forex trading without them. Therefore, try to choose a reliable and honest company. How to do it? Look for independent ratings of forex companies, read reviews on forums. You can check out brokers like Hot Forex, LMFX, or XTB.
I can well understand. Anyone who is new to the trading world is often stuck in a dilemma when it comes to choosing the right broker. But tbh all you can do is screen brokers as per your requirements and do a research on them. As far as your preferences are concerned,If I have to suggest a broker then it will be Turnkey forex. I have been myself using them and its been a while now. The spreads they offer are pretty narrow. Hardly go wild. Commission is decent too i.e $2 per 100k on both sides. Basically a decent one. Rest, as I said DYOR.
Hotforex is good broker, unfortunately they refused to accept my bank statement for address verification. It was a very frustrating process. I am using Forexchief now, fully verified and trading more than 11 months now. Spreads are a bit better.
One with global reach https://global.markets.com/en/support/contact/?cid=cx35212_358790&zid=CX_Markets&pid=35212&mid=358790&custom=1&c=c-35212_358790&af_sub1=358790&af_sub2=CX&af_sub3=1&traffickey=tr-35212_358790&profile_name=&afp1=[afp1]&afp2=[afp2]&afp3=[afp3]&afp4=[afp4]&afp5=[afp5]&afp6=[afp6]&afp7=[afp7]&afp8=[afp8] But dyor
Oanda and Hotforex are great. I use them both but they differ in some aspects. What I want to say is that realising what you need from a broker sometimes plays important role in developing working algorithm.