How to find a decent forex broker?
Jack J asked:
After my course and demos, it’s time to get started. What should I do and how to look for a decent forex broker?
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After my course and demos, it’s time to get started. What should I do and how to look for a decent forex broker?
thanks
February 26th, 2009 at 4:17 am
You should try the site of daily forex, they have forex broker reviews that copare between several forex brokers.In the middle of dailyforex.com you can see the iforex broker. they give you a pta system that enables you trading at your first time without loosing money. This is a new trend in the forex market to attract traders to the market
March 1st, 2009 at 5:11 am
you can check your options in this site. they will provide you a personal Account Service Manager to be with you in your first trading activities until you become familiar with their system. for a mini deposit of $100 you can start trading immediately without downloading any software. you can even use your credit card to fund your deposit so you can trade anytime, anyday even if banks are closed. they can also set your Take Profit and Stop Loss rates and most of the transactions are without hidden costs. check it out to see for yourself all the other features of this site that’s designed to protect your interests as a trader.
March 2nd, 2009 at 8:05 pm
If you want to get started forex trading then I recommend these guys:
Why?
Instant Deposit with Credit Card
Start Trading in Minutes
Fixed Spreads in All Markets, All the Time
Continuous Quoting, with No Price Freezes
Executable Quotes - Click on Any Bid or Offer
No Slippage on Market, Limit, and Stop Orders*
Negative Balance Protection - No Debits
Unparalleled 24-hour Trader Support
But - check them out for yourself!
March 5th, 2009 at 4:13 am
I had the same issue not too long ago. I was in the book store and saw this book, chapter 5 has a section on selecting a broker and I used it to help me. The author talks about finding a broker that is a member of something. Sorry I can’t remember what, you are dealing with a real firm when you do that. You don’t want some little firm that is trading against you because it behooves them to give you bad execution as they want more than just your commission. They want you to open a $100 account and they will pretend to let you trade all the while just waiting for you to blow up your account to keep the $100. It wouldn’t surprise me if some if them did that.
I chose GFT forex after reading it and trying their demo. One of the things I hate about most brokers is the request a bid process takes FOREVER. I could have gotten in and out of a stock trade using a simple ameritade account in the time it takes the darn thing to respond. GFT has a direct deal option that puts the order in and goes with it up to 2 pips slippage (or you can set it differently) or it comes back with a bid ready to click accept to buy sell or pass if it slipped more. So you will never take longer than 5 seconds to get in mostly more like 1. This is even true right as the non-farm payroll numbers come out. Some of these other jokers take 30 seconds to come back with a price during slow activity, I can’t imagine what they would do during non-farm payroll announcement.
I am not really trying to push GFT I just wanted to share my big issue with some of the other guys. Make sure you are happy with the execution speed is my point. Maybe I should have just said that…
Good Luck
March 6th, 2009 at 2:27 am
The best thing you can do is to read reviews on it. You can start on .