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What is the best forex broker?


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This did not use to be a problem when I first wrote Trading Online published by the Financial Times back in 1998! Back then, you just wanted to know the name of any broker.

Get free Forex Brokers list on:- FX-List.com

The biggest problem today is who can you trust. I get hundreds of emails a month from private investors asking me which brokers they can trust. The reason is technology has meant a proliferation of brokers and brokers realised that instead of matching buyers and sellers (like estate agents) there was more money to be made by being the house. They then realised there is more money to be made by:

widening the spread between the bid and offer ie buy and sell price
By moving the price so you could not exit at the ‘market’ price but only the brokers price
liquidating your positions by changing margin rules
Spiking prices to knock out your stop losses (usually late at night!)
And a growing number decided to just steal your money - they will call you up and say they will manage it, and then if they get lucky, they will not return it, and if they ‘lose’ then you have nothing anyway and the broker wins.
So the answer to your question is in my view, the same as finding a plumber! Go by the views of someone reputable and trusted in the industry ie word of mouth from someone who uses a specific broker.

I for instance was called by Bloomberg, who I trust as the most reputable brand alongside Financial Times. And since I used to present a trading online programme for three years on Bloomberg TV, the team knew me well. They introduced me to a broker, who previously I had not dealt with. And I said to Bloomberg, I would use the broker only if Bloomberg have done their due diligence on them. That is how I got to use and know one of the brokers I use. Yes, I am that careful. I need to know their CEO, go to their offices!

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It’s very unfortunate that majority don’t actually understand how to select the right broker, and make no mistake, if you don’t know such basic stuff then you are not meant to succeed. The selection of broker is so much based upon common sense, and that’s with going for broker that’s proper regulated.

I only prefer FXLinked, as they are a highly reliable and trustworthy company with regulated by FSA, and have some lovely features that include with low spreads, which often goes to 0.0, and then there is also bonus available upto 100%. So a properly regulated broker with such features, it’s perfect combination! 

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  • 2 weeks later...

I'm going to venture to say that there is no holy grail-type "best" broker. It depends what's most important for you. Is it safety of funds (segregated accounts)? Regulation in a safe country? Low spreads? ECN/STP execution so that you aren't subjected to requotes? The best bet would be to compare brokers and try a few demo accounts for a few weeks to get a feel for the broker that's right for you. Here's one forex broker comparison page that lists a few solid brokers side by side.

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  • 2 months later...

I have tried to choose my platform after conducting proper market analysis and one of my trader friends has recommended ForexChief and I have started trading with it. I am truly in love with its features and services provided to me. I am enjoying full freedom to work with any trading strategy. I am receiving lowest zero spread, reasonable leverage of 1:400, re-quote and slippage free timely and fastest trade executions along with complete professional guidelines.

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  • 3 months later...

Our selection when it comes to picking broker has to be really good because it makes a major difference in how we go with doing things. We should always make sure we go through Forex broker reviews and pick the very best because this is a very much necessary aspect and unless we are certain, it’s not possible to get benefits. I find it all super easy through Forexing, a wonderful place for getting all info whether reviews, bonuses, no deposit bonuses or more, it’s awesome help.

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  • 5 months later...

When anyone wants to start a online trading, he has to choose a broker for better guideline. Not only newcomers, Old investors also has to choose a broker so that they can easily operate their trade.It is difficult to choose the best broker from so many brokers in the market. Making profit will be difficult with wrong broker. When I was searching a broker for me, I researched so many brokers in the market. Every broker has some lacking. But finally I found TP Global FX, which has tight spreads, dynamic leverage and seamless deposit or withdrawals. It also provides the demo account facility for the newcomer to understand the market. For all these facilities I am working with this broker.

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  • 4 months later...

I don’t know if my broker is best or not but one thing I am convinced is about security and I feel this should be the meter of judgment. And this is where I highly prefer Forex Birds. A wonderful broker with extra-ordinary benefits that include low spreads, high leverage, fast execution without any problem with slippage. It is great for Forex India, as for the Asian region, they have excellent setup with excellent support service to make people highly comfortable.

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