Way too expensive with so many fees plus there is no volume and way too high of margin even after the CFTC put a cap on max. margin on Spot FX in the USA. FX futures volume is like 1/10 of spot FX. With such high fees and so high of margin, there is no way you can make money with so little volume. And if you are going to pay that high of fees, you might as well trade stocks. At least you get the volume and lower margin.
How to find the best from all forex brokers?
- Thread starter DavePhan
- Start date
Way too expensive with so many fees plus there is no volume and way too high of margin even after the CFTC put a cap on max. margin on Spot FX in the USA. FX futures volume is like 1/10 of spot FX. With such high fees and so high of margin, there is no way you can make money with so little volume. And if you are going to pay that high of fees, you might as well trade stocks. At least you get the volume and lower margin.
thanks!!You "reading skills" would look much better if you noted that he is simply yet another wannabe IB guy using crap content posted on his website.
Yes for critical area but that's not all. Sometimes you need a solid relationship with broker to gain confident in trading. Regulation, customer support, withdrawal things are some top layer things to consider before going into next layer to look at, Onra did a good job to list out the checklist here: https://www.elitetrader.com/et/thre...eliable-fx-broker.297214/page-14#post-5146703
you should always look at the reliability of the broker itself, and be sure to look at the results of other traders
This subject will never get old. When you read some article, one begin to wonder if he'll ever find the right broker. Months ago I started using Forexchief, not because they are most reliable, but because I knew about four people using the broker and had no issues. is it the right broker to use? For me, yes! You are responsible for the decisions you make. If you know someone using a certain broker and he tells you the broker is good, go with it.
Friend's recommendation can be good thing but sometimes it can be bit barrier to your personal life. Beside, most people don't start with forex friends like me and it's not hard to find a good broker if proper research done over google. All we need is to check if broker is properly regulated as well as how people talk about them, test their demo and small live account, rest let the personal experience takes us a long road.
After trying out brokers, I must say that there can't be single best broker as long as there's different ways to look at brokers plus service can be degradable over time. I have used IC, HF, Fxpro, Tickmill, Fxview and they are good at one thing or others be it spreads, execution, commission, support. Still ppl can pick a single broker to be best in every sense.