Which broker is recommended?

rampage · #1 (**permalink**) 12-03-2009, 01:27 PM

Hi guys, i'm new in forex and now im ready to start a live account.
So i finally decided to try alpari UK but lately i was looking somes reviews and
it was pretty bad review against them so i change my mind to open an account with them. So i would like to know wich broker you guys are using?
The best overall broker...
thank you

alan · #2 (**permalink**) 12-03-2009, 11:57 PM

I don't think there is a best overall broker, but my suggestion is that if you can afford it, open an account with a ECN/STP broker.

liggy002 · #3 (**permalink**) 12-21-2009, 10:19 PM

For anyone else reading this thread, I would also suggest that they be a regulated brokerage firm. For example, NFA in the U.S., CYSEC in Cyprus, FSA in the UK. Also, be aware of the FIFO rules if you intend to a trade with a U.S. regulated brokerage. It is also a possibility that they may limit leverage on the non-major pairs. Although this is not set in stone as of yet, be aware that it is a possibility. Also, make sure that you select a broker with the lowest spreads possible. Decide which pairs you are going to trade before hand and then go with the broker that has the lowest spreads for those pairs. If you are going to trade as many pairs as possible, look for low spreads across the board.

alan · #4 (**permalink**) 12-22-2009, 12:13 AM

Great advice liggy! Thanks for contributing

Miksa · #5 (**permalink**) 12-22-2009, 09:34 AM

Quote:

Originally Posted by liggy002

Also, make sure that you select a broker with the lowest spreads possible.

well, i would not count on the lowest spreads. some brokers claim 1 pip on all pairs, but it doesn't mean much

^eagle^ · #6 (**permalink**) 12-22-2009, 06:16 PM

I would try FXCM UK for best overall broker.

Low spreads
Fair execution(not the greatest for scalping)
great customer service.
excellent pLAtform if you want a change from mt4
Good "old School" school and forum
STP no dealling desk
Hedging allowed (uk only)
Micros (non mt4) available

Which broker is recommended?

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