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Open Question: What's a decent forex broker which is not a seedy bucket shop but still not to high priced?
What's a decent forex broker which is not a seedy bucket shop but still not to high priced?
I want something that I can start off with with around $500 or so just so I can learn the ropes and make my little trades. I've read warnings about certain forex brokers which are unregulated bucket shops and aren't insured properly either. But are there any decent forex brokers which don't charge terribly high fees but still are decent?
Answers :I have done some trading and in retrospect the best way to start is to practice with no money down free trades first so that you execute some trades and get a feel of the "game" before you throw in your money.
Learn how to control your emotions, have an exit plan, that is knowing when to take your gains and move on Trading concept and Fxdd are good places to start. First, you aren't going to be a talking to a broker. With forex, you will have an account with a dealer who will be taking the other side of your trades.
Second, since they are dealers, they make their money off the spread, not by charging fees or commissions.
Third, they are not banks or brokers, so there is no such thing as "proper insurance".
If you want to learn how the trades work google "forex" and you will see a list of dealers. Any legit dealer will give you a demo account free for 30 days.
Since forex is not governed by law anybody can be a forex dealer, but all the legitimate ones voluntarily register with the National Futures Association even though they don't have to because they are not actually futures brokers. If you want a forex system that can do your trades automatically depending on how you set it up. Here's a review of how it works: hi
here you can find a list of best forex brokers that most people use to learn or trade forex markets
http://forexplatformslist.com
good luck! Yes you have heard the actual thing. FXdd may be your relayble forex broker. At www.systemsfortraders.com, we use Alpari and ODL. They are both UK based, like us, and we have never had any problems at all with them. Spreads are not the best out there but are acceptable and their Customer support id also good.
Hope it helps. Go with a regulated broker like Oanda. They let you start with as low as $1 but obviously, anything around $100 will let you place realistic trades. here is one source that will lead you to a leading, legitimate, reputable, trusted and reliable forex broker. it has licenses in the usa, australia and the european union and has regional offices in the usa, canada, uk, europe, australia, middle east and asia. with $500 you can already open a gold account which gives you better trading features than a mini account. one best feature the site has is personal mentoring which you highly need as a beginner. by opening any of their accounts- mini, gold, platinum or vip- you will be provided a personal account service manager who will walk you through the basics, guide you how to prepare and analyze trends and will even trade with you to make sure you get familiar with the system. discussions are done live via phone, email, chat or personal meeting if you happen to reside near any of their regional offices. they have even developed several useful tools exclusively for use by their traders in helping them achieve successful trades. plus you can always get the best opinions from other expert forex traders in the chatroom. all the best. Choosing a Forex broker is a crucial step. Good forex brokers must be trustworthy.
Forex brokers usually let you have a mini forex trading account which is generally recommended for beginners. Besides this, it should execute your trades fast, charging the minimum spread possible and provide you with good support if you have any problem.
Take a look at the forex broker reviews list, and if you use, or have used, any of them, please let us know what you think about them.
and more see the list of the site http://forextopten.com/ FXCM is one of the worlds largest forex brokers. If you are looking for low spreads, take a look at the discount brokerage division FXCM Micro. www.fxcmmicro.com
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