opinions on best mini account broker

[shan777]

Hi guys, I am looking to start forex trading and was looking for the best broker who has micro lot or mini contract ( not sure of correct name) available. I'm obviously looking for tight spreads, min account startup size, and realiable service in general.
I know its a broad question, but if anyone trades like this, any suggestions would be much apreciated. Thank you, Shan

 

[Vaco]

I started with Alpari a few weeks back, no problems so far and you can trade as little as 0.01 lots acount was opened in less then a week of initial application as well.

 

[shan777]

thanks for that, what charts do you use?

 

[Vaco]

thanks for that, what charts do you use?

Metatrader

 

[fxmonk]

Hi Shan,

I would recommend Oanda for you. They allow trade entry sizes as low as one dollar and have great execution. Majors usually have very low spreads. I've been able to get 1 pip on the Euro. Oanda gets you back on the carry interest a bit, but for most short and medium term traders it's not bad. You can trade a variety of instruments, including gold and the platform is very simple in my opinion. I just wouldn't recommend them for news trading (and I wouldn't recommend news trading either). There are plenty of good brokers out there. Most negative comments that you read are from traders that don't know how to trade and won't accept responsibility for their actions. Of course some are outright scams and should be avoided. I would recommend going with ones that are regulated by the NFA and FSA and meet the minimum firm capitalization requirements. Oanda doesn't have any IBs so all comments that you hear about Oanda should be genuine.

Have a great weekend,

Kris

 

[shan777]

Hi Shan,

I would recommend Oanda for you. They allow trade entry sizes as low as one dollar and have great execution. Majors usually have very low spreads. I've been able to get 1 pip on the Euro. Oanda gets you back on the carry interest a bit, but for most short and medium term traders it's not bad. You can trade a variety of instruments, including gold and the platform is very simple in my opinion. I just wouldn't recommend them for news trading (and I wouldn't recommend news trading either). There are plenty of good brokers out there. Most negative comments that you read are from traders that don't know how to trade and won't accept responsibility for their actions. Of course some are outright scams and should be avoided. I would recommend going with ones that are regulated by the NFA and FSA and meet the minimum firm capitalization requirements. Oanda doesn't have any IBs so all comments that you hear about Oanda should be genuine.

Have a great weekend,

Kris

Thank you for that, that is great information and i will def check them out, you have a good weekend too, Shan

 

[fayalac]

Hi Shan.
I use fxcm, its a good broker and they dont care if you do scalping, have low spreads and their platform is very friendly.

 

[robertm]

You can try Kerford Investments. They provide mini accounts and tight spreads with MT4 platform. Even I am trading with them and they are good.

 

[FXGiant]

You can try Kerford Investments. They provide mini accounts and tight spreads with MT4 platform. Even I am trading with them and they are good.

So, Kerford provides account to it's employees right :innocent:

To the thread starter, if you have above $10k account then I would say ODL securities prime brokerage will give the best spreads and direct interbank market access. Goes without saying, minilots are lowest deal size

 

[neil]

Look at IBFX.com as well during your broker analysis

 

[sark_anZas]

watch out with ibfx. they have horrible data feeds. the tick data on my live account only goes back 2 decimal places, which makes it all but useless. not only that, but their data feed lags, and is often HORRIBLY inaccurate.

check this link to see what i mean.
http://www.trade2win.com/boards/forex-brokers/41384-odd-interbankfx-price-bars.html

they have a debit card program set up with another bank which makes it more convenient to get your money out-- this is the only reason I would ever consider going with them.

 

[buggyfx]

I am trading with Deltastock. Minimum amount for opening an account is $100 and the lot size can be defined by yourself (it has to be divisible by 1000). Anyway I think that it is too risky and not serious trading with less than $1000 in your account (not just my opinion)

 

[neil]

Maybe not IBFX then?

watch out with ibfx. they have horrible data feeds. the tick data on my live account only goes back 2 decimal places, which makes it all but useless. not only that, but their data feed lags, and is often HORRIBLY inaccurate.

check this link to see what i mean.
http://www.trade2win.com/boards/forex-brokers/41384-odd-interbankfx-price-bars.html

they have a debit card program set up with another bank which makes it more convenient to get your money out-- this is the only reason I would ever consider going with them.

Good point....I just read the comments on the T2W link.....perhaps OANDA would suit the OP's needs?

 

[millsy500]

I tried meta trader with alpari a while ago and got sick of the requotes, stay away from meta trader in my opinion.

 

[jason1818]

i use igmarkets. fast deposits and withdrawals. low spreads. they allow you to trade 0.05 contracts for 6 weeks.

 

[buggyfx]

I'm trading with Deltastock. I think their policy regarding clients with mini accounts is pretty good. They allow you to define your lot size by yourself. It has to be only divisible to 1000. The minimal lot is 1000 units. The minimum deposit for opening an account is $100 or 100 EUR.
But keep in mind that trading with small account as $100 the risk is a way bigger than with account with $500 or $1000 for example. So think a little if it is not better to wait a while till you have some more money to open a bigger account

 

[disi]

CMS forex...preferebly UK office. Great platform, good spread and super fast execution.