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Do forex brokers actually want you to succeed?


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There are some truly retarded answers here, let me give you the straight dope.

There are three types of brokers.

Bucket shop brokers - Are effectively trading against you, they call these “dealing desk” brokers, or try and hide what they are, but effectively these guys know that 90% of traders lose, so they get all your money by trading against you instead of a small fee. These are the brokers offering you bonuses for singing up, advertising on the internet, with many fake reviews. It’s a trap! If you manage to win, these guys will stall and stall about paying you out, they are mostly regulated in countries without much regulation.

Real ECN Brokers - The interbank FX market trades in 1 million dollar lots. These brokers perform a service for a fee, they buy and sell million dollar lots, and break it down into the small chunks retail traders need. Fees are low, but they make money whether you win or lose, so they have no dog in your fight. This is what the retail broker should be looking for.

Prime Brokers - This is what the hedge funds and banks and large private funds use. You need at least $5m and probably $20m in the real world to be using them. This is above my pay grade.

trading.jpg

Few brokers I know  is a legit ECN broker, they are financially stable, and generally have the best practice for not f*cking clients. You can get them here https://finowiz.com/ . A significant proportion of what I would regard as the “serious retail traders” use them.
 
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There are many brokers that B-Book your orders (trade against you), you have to avoid them because despite better execution you are still limited in earning opportunities there. I would recommend you to trade with A-book brokers like Hotforex and other which are properly audited, disclose execution information and have FCA license

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1 minute ago, pradegxs said:

There are many brokers that B-Book your orders (trade against you), you have to avoid them because despite better execution you are still limited in earning opportunities there. I would recommend you to trade with A-book brokers like Hotforex and other which are properly audited, disclose execution information and have FCA license

right

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On 4/27/2021 at 9:39 AM, uncle gober said:

the selection of an existing broker must be able to be considered well, this is necessary so that traders can be better and can be more maximal in getting maximum security and trading comfort with Tickmill.

I have been doing my Forex trading from the Year 2010 with the International Broker FXOpen with SUCCESS 🙂

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If anyone wants to enter into the forex market, he should gather knowledge about the trading and the market. Without getting full knowledge about the market, it is quite tough to trade and invest in forex. So, A newcomer can get all the information and knowledge practically by using the demo account of any broker. Demo account helps a trader to know about the market quite perfectly.

I was also using demo account of Forex4you broker before entering into the real market of forex. It is very helpful to understand all things about the market. We can set the leverage and the starting amount in their demo account. It helps a new comer to know the forex precisely.
 

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16 hours ago, Sam Patrick said:

If anyone wants to enter into the forex market, he should gather knowledge about the trading and the market. Without getting full knowledge about the market, it is quite tough to trade and invest in forex. So, A newcomer can get all the information and knowledge practically by using the demo account of any broker. Demo account helps a trader to know about the market quite perfectly.

I was also using demo account of Forex4you broker before entering into the real market of forex. It is very helpful to understand all things about the market. We can set the leverage and the starting amount in their demo account. It helps a new comer to know the forex precisely.
 

For those foreign exchange traders who are new in the market they can learn from using the demo trading account without any risk

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  • 2 months later...

I believe that trading is a really great option for earning. The important part of trading is to achieve a positive result. You need to make sure that the broker is reliable before start. When I was looking for the right broker I found the site Finarm com, which helped me to choose the right broker. I can recommend you to visit it.

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Low spreads is one of the most important elements of trading. The broker who gives low spreads are basically well known to the traders. Specially the newcomers and the low investors rely on the low spreads broker. I usually trade with Forex4you, which provides low spreads starting from 0.1 pips. Their spreads don't change much. So, it is very much pleasant for me to trade with them.
 

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Ton of brokers we can see in the trading world but is all are reliable? Obviously not.  Therefore , selecting a reliable broker is very important for the traders. My broker is FreshForex which established in 2004 and regulated company. It provides the best offers likely 1:2000 leverages, no extra charges, spreads starting from 0 pips, 300% instantly bonuses and so on. More, its friendly attitudes make me more confidences and it never make me disappointment.

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16 minutes ago, papia09 said:

Ton of brokers we can see in the trading world but is all are reliable? Obviously not.  Therefore , selecting a reliable broker is very important for the traders. My broker is FreshForex which established in 2004 and regulated company. It provides the best offers likely 1:2000 leverages, no extra charges, spreads starting from 0 pips, 300% instantly bonuses and so on. More, its friendly attitudes make me more confidences and it never make me disappointment.

I have been doing my trading with t he International and Reputed Forex Broker FXOpen Markets 🙂

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On 7/16/2021 at 12:42 PM, uncle gober said:

the use of broker regulations must be able to be considered properly, this is needed so that traders can be more leverage in carrying out trading activities in accordance with expectations together with Tickmill.

We will need to do our trading with the help of the Regulated Forex Broker like FXOpen Markets 🙂

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 I have the best experience with FreshForex, FreshForex allow me to do scalping without limitation, even I can use hedging strategy. Spread as low as 0, it is perfect to do scalping. It is good and there is no hidden terms. I am very very satisfied with FreshForex.

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