Broker Discussion
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Thread: Broker Discussion

  1. #1
    Hi,

    In your opinion, what's the ideal broker which includes:

    - strict regulation - needs to(btw, what's the ideal regulation?FCA,ASIC,FSA,NFA,etc-what are the differences between these?)

    - low spreads (important but not must)

    - low commisions (also for deposit or withdrawal)

    Another matter, whats is the best type of account? DMA or ECN?


    Thanks Ahead of Time!

  2. #2
    If you're a scalper ,
    you need to guarantee the broker which always provides lowest trading spreads that's actually supportive to earn profit with absolutely by using scalping egy that brings profit in a limited time.

    Otherwise that's impossible at all to earn profit from scalping despite of good trading ability.

  3. #3
    Really we all know that we will need to check their authenticity and reliability to get a broker. I know its easy to have here learn what are their payment procedures and their client satisfaction but its really risky particularly if we're new. So superior to also consider those older brokers and most significant are that they have forums that we can have talk about their broker.

  4. #4
    In order to me when trying to find a broker first of all we need to make sure that the broker is controlled or not. And check their law is that just a unknown regulator or maybe, and also ensure that regulator is your credible one. Next what is that broker, I mean is that non dealing desk or dealing desk broker , I favor non dealing desk broker.

  5. #5
    It depends upon what sorts of trader you're? Which exactly are your priority? Your place.

    I don't expect any regulator but FCA. ASIC help if you're in Australia. I don't count FSA, NFA, CySEC anymore.

    If you're a scalper, you need the smallest spread but it seems you're a swing trader. However, lower spread needed if you trade apart from major pairs. I suggest cross pair. I am trading with Tickmill because I am trading cross/exotic pairs. As well as their commission seems among the cheapest $2 for each lot. (only in or outside), no commission on deposit/withdrawal. Axi trader is sometimes slower, Fxpro frequently pushes client to CySEC. FXCM is no more trusted following their latest scandal. You should search for standing in google until you sign up in.

    Since you can see Dollar and Pound market is very uncertain today. Donald Trump is making remarks almost daily. His latest activity is very unpredictable. French Election is forthcoming. Le Pen success weight a lot to EUR. So, I recommend ECN, you'd need it if you ever trade a cross pair.

  6. #6
    When I look for a broker, I give priority to the trading conditions that broker is supplying such as spreads, spreads and leverage etc that's acceptable for my trading egy. For me being a scalper, fastest execution and spreads means that a lot. So I test my egies on their demo account and if it goes well, I begin with small deposit to see the results. In terms of regulations, I am aware that it's much preferred but I really don't place it first priority and there are some explanations for this. First is the limitation those so called regulated brokers impose such as FIFO rules and leverage limitations etc. second is their lengthy obligations to start an account and lots of different limitations on trading styles such as hedging, scalping etc. and its hard to loe a broker that's appropriate to all of your trading needs. In reality in this case, an offshore broker can provide you all these trading conditions you need. I admit there is anxiety of your money being locked with an unregulated broker however there are many reputed offshore brokers are out there also who can provide you the very best services better than the ones that are regulated. So according to me the one with good reviews and decent trading conditions is greatest broker no matter it's regulated or not.

  7. #7
    In addition, I have one question about brokers

    that I'm new in Currency Market, I know something, but I believe that isn't enough. The thing that I was thinking recently, how do Currency Market brokers
    made cash?

  8. #8
    Quote Originally Posted by ;
    I think, the most crucial element of choosing broker is reliability. It's better to select older brokerm that are on market for five decades or longer. The license is essential, also. They state, that the most reliable brokers have permits from Europe, USA and Australia. They concidered as the most difficult to obtain and they have the most strict law. On the other hand, there are brokers with permits out of Panama, Hong Kong, Mauritius, Belize, Seychelles which are considered less reliable as Auropean ones. But it better, that no license...
    I am absolutely agree! Especially about permits from Seychelles Belize and other.

  9. #9
    Quote Originally Posted by ;
    In order to me when looking for a broker of all we have to guarantee the broker is controlled or not. And check their law is that just an regulator or maybe not, and ensure that regulator is the one that is credible. Next what's that broker, '' I mean is that non dealing desk or dealing desk broker , I favor non dealing desk broker.
    Should you depend on controlled trading broker for ensuring safe trading life with ,

    I think you have to proceed the broker which is controlled by UK or US. Because they are regulated broker and always guarantee their customers capital.

  10. #10
    I think scalping is like high action thriller movies that may keep you on the edge of your chair,

    it's really profitable but at present mostly brokers don't allow trading theory such as this. Thus, before choosing a broker we the scalpers have to guarantee the broker permits this notion or not.

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