I am new to FOREX and am considering using HYMARKETS.COM who appear to offer a 3 pip spread. Is this competitive and if not where can this be beaten? Any advice is much appreciated. Thanks
3 pips for the majors is average.
Check out;
http://www.forexpeacearmy.com/public/forex_broker_reviews
These guys only received 2 stars. Be very careful. FX is one of the least regulated industries. There are no good brokers… there are only brokers that are not as bad as others. There is a 96% chance you'll lose your money in 3 months or less.
Spend some time on education. A year would be a great idea. Paper trading will help you with the platform but will do little to help you with the skill of trading. Your results in paper trading mean very little.
does anybody hv any experience with avafx? is it trustable or is it a scam?i already tried to google it and as always, some say good things some say bad things…it's very confusing and im trying to find the most trusty forex broker .can someone recommend to me?
There is no such thing as a good FX broker. There are only brokers closer to what you want than others.
Check out;
http://www.forexpeacearmy.com/public/forex_broker_reviews
From what I've read… I'd stay away from them. You only want a USA based FX Broker.
I Need a recommendation on HONEST MT4 reliable FOREX broker based on experience and actula LIVE trading.
If You have this experience, please pass it on to fellow traders
I use Interbank FX and I'm glad with them. I also read good things about alpari, but I never used them myself.
I don't recommend dealing in foreign exchange at all. You're more likely to lose money than gain. If you do try it, watch out for the scammers.
1. where to find a forex broker with min trade size of 1000 in forex ??? 1 lot = 1000 ( not 10,000 )
2. Can deposit money from singapore ( not VISA Card or Paypal )
thank you
1. There is not.
However you can trade by using 200:1 leverage in Mini Account so you can begin trading as low as $1.
2. Yes, many brokers allow bank transfer.
I want to trade FOREX.
any FOREX broker which offer the most easiest system to work with, such as
3 PIPS spread or smaller
nice sized welcome bonus
smal initial deposit
fast order, dont wait to long to get the order filled
offer mini or micro account
please share your expirience. thanks
hi there,
I would recommend you Finexo.com according to the details you provided in the question. This is because the very important aspect of the Finexo online forex brokers is their great desire to improve the trading skills and profits of all of their users. It wants you to make money in forex, which is why they provide daily reports and market analysis, exclusive to its traders. They also try to make sure that information on the website is as up to date as possible. Also,
- Minimum Deposit : $25 Dollars
- Accounts Type: Mini, Classic, VIP
- Leverage: 200:1
- Platform : Web-based
- Deposit Methods: PayPal,MoneyBookers, Liberty Reserve,
E-Bullion, Credit Card and Bank Transfer
- Language support for over 30 languages
- Stable and user friendly trading platform, suited for beginner, intermediate and professional traders.
- Good daily recommendation and market reports.
- Useful mobile phone service and good customer support.
- 3 pips spread for classic account with $500 deposit
- Is regulated by European Community
Note: I am just providing the information required to the asker. If anybody doesnt like my answer i am very sorry about it.
Regards
also, do you know what kind of brokers that don’t trade against you, I am currently using FXDD.
(I used to trade FXCM and I could tell they trade against the traders)
All low-margin forex brokers trade against their customers, abusing them with both excess price movement and spreads. That is why the futures market is much more fair.
basically there are a few out there but I want to know the best ones as in stable with high returns. thanks
When you say broker, I believe you mean a Forex account manager. In Forex, the broker is the intermediary who facilitates the currency trade. The Forex account manager is a third-party individual/company that manages the trade activity on your Forex broker account. It is called a Forex managed account.
Finding a legitimate, competent, experienced Forex account manager is not easy. There are a lot of Forex scams out there and so you have to be careful. Also, many of the longtime Forex managers are no longer taking new accounts. Here are some tips for finding a good Forex managed account program.
1) Start by doing research on who is taking new accounts. Google FX managed accounts, or Forex managed accounts, etc and you will find plenty of companies offering this service.
2) Find one that is realistic in their profit targets (If they are shooting for over 50% per month, RUN).
3) Spend at least a couple months researching, talking to, and watching different managers.
4) Don’t expect consistent weekly or even monthly returns. Forex is not a bank account that pays out a consistent return. Expect whip-saw returns with profits over six months or a year.
5) Start small and add to your Forex managed account as you gain more confidence in your manager.
Hope that helps and good luck!
I here that some brokers are ECNs? OR OTCs?
Can someone explain the difference?
Anyways most people will recommend FXCM but i hear that your orders are filled against other FXCM members instead of the open market making it hard to trade when the market is going one way. Please correct me if I’m wrong.
So which is the best broker out there?
- Fastest order execution
- Smallest spreads.
- Accurate order execution.
Thanks.
-
Forex ECN Broker
ECN is an acronym for Electronic Communications Network. A Forex ECN does not operate a dealing desk but instead provides a marketplace where multiple market makers, banks and traders can enter competing bids and offers into the platform either inside or outside the spread, allowing traders to trade against each other and with multiple counterparties. A trader might open a trade with liquidity provider “A” and close it with liquidity provider “B”, or have the trade executed against the bid or offer of another trader. Participants of the ECN send in competing bids and offers into the platform and the combined volume is usually displayed to traders at each price. Orders are matched between counterparties, usually for a small fee.
NDD
An acronym for ‘No Dealing Desk’. A no-dealing desk broker uses a matching engine to match up orders between its liquidity providers and their clients. The liquidity providers send in competing bids and offers into the platform, resulting in the best bid and offer being displayed to the trader. A no dealing desk broker may increase the spread instead of charging a commission to their clients.
What are the larger FOREX brokers and what are the most using the trading platform of Meta Quotes Language - MT4?
I always thought GFT Forex was one of the larger forex dealers in the world.
Altough I don't use them personally.
