Which broker is better?

[hatemypips]

Every broker is a market maker as long as they have their dealing desk.
However some brokers claim they do not execute trades on the dealing desk and are 100% STP/ECN, but you can never be sure of this.
Try and do some research online, read some reviews, find out about the bodies that regulate the brokers business.
Every broker pretty much offers the same service, for me personally, the most important factor is customer support. Regardless of the execution time or how good the spreads of the broker are, i wouldnt work with the broker if their customer support is shit.
So to sum things up, work with a highly regulated broker that has good reviews online on genuine and unbiased platforms. And see to it that the customer support of the broker is kickass.

Reviews don't give you insight into that. There is a way though to know if your broker use LP to execute orders - provide a report of order fills from LP. If broker is A-book they can request it from LP and show to you.

 

[bhagesh.nair]

Reviews don't give you insight into that. There is a way though to know if your broker use LP to execute orders - provide a report of order fills from LP. If broker is A-book they can request it from LP and show to you.

Well, i meant as a newbie or a small time trader, reviews of certain brokers always help.
Once you are in the business, you can slowly figure where to put your money and where not to.

 

[Nick USGFX]

And how can we tell apart fake broker from a genuine one? Do you have any advice or examples on this account?

Best way to avoid running to fake brokers is by checking their licenses(ie, FCA and ASIC), you shouldn't run into any issues if their license is still valid. Feel free to PM me if you would like to know more.

 

[Nick USGFX]

Is forex bonus is good? Does that broker offer?

Of course bonus is good haha. It's basically free money man. =]

 

[Nick USGFX]

Prudent restrictions placed on their activity will put end to the fraud, but well regulators have to leave to the industry ability to breathe, because I don't want forex brokers to disappear. There are many reliable names and scam cases may complicate offering wide array of trading services. For example ESMA rules capped leverage and honestly I don't like that.

If you pick well-known brokers with proper licenses, your money would most likely be insured by a third party. Since the brokers do not have access to your funds, which is why you need to be mindful when picking brokers. Feel free to PM me if you would like to know more.

 

[hatemypips]

If you pick well-known brokers with proper licenses, your money would most likely be insured by a third party. Since the brokers do not have access to your funds, which is why you need to be mindful when picking brokers. Feel free to PM me if you would like to know more.

Nice. My current broker Hotforex claims it uses segregate accounts for client funds. Does it really work as described (full protection even in the case of bankruptcy)?

 

[Nick USGFX]

Nice. My current broker Hotforex claims it uses segregate accounts for client funds. Does it really work as described (full protection even in the case of bankruptcy)?

NewRegister

register.fca.org.uk

It looks like Hotforex is under protection of Financial Services Compensation Scheme (FSCS). Your money is safe. When choosing a broker it is important to see if they have licenses from either the FCA or ASIC.

 

[Nick USGFX]

Hey guys! My name is Nick and I work for USG. Are there any IBs here looking to try out a new broker or or switching to one completely? Or if you're just a trader that would like to try us out, I would be glad to provide more information for you. Thanks!

 

[hatemypips]

Any stock market transaction requires the share broker’s intervention. For selecting the best share broker, you need to understand the basics of the market. They typically work as an intermediary between the stock market and market participants.

These share brokers are registered and regulated by SEBI. Usually, there are two types of brokers in India to choose from –

1.Discount brokers: They offer cheapest and charge lowest brokerage fees for buying and selling of stocks. They are technology driver share brokers with low operation costs. When you opt for discount share brokers, you are mostly by yourself and do not have the added benefit of receiving any advice. The charges are 60 per cent lower as compared to full-service brokers. Such share brokers also offer online trading software.

2.Full-service brokers: Such a share broker offers research, trading, and advisory facilities in stock, commodities, currencies, mutual funds, IPOs, tax tips, etc. They operate from several offices and branches across the country, which allows you to visit anytime. They also provide a dedicated relationship manager, customer support, portfolio management services, and so on. Some of these stockbrokers have their banking and Demat facilities as well.

What about foreign FCA regulated brokers like LMAX, Hotforex or Tickmill? Why do Indian traders avoid trading with them? Regulatory issues or what?

 

[Matias.Ferna]

I'm planning to open an account with FP Markets, Since I'm a scalper I'm thinking of opening a Raw Spreads (ECN Pricing) account with them.
Would it be a reliable and secure choice of broker. Reviews from anyone currently trading with FP Markets.

 

[Henow1969]

Oanda is best in my openion but you can also try Alpari if you like.

 

[Henow1969]

Alpari sure has good conditions, but not supported by well known regulation. I would be bit careful with them. Why not try FCA or Cysec brokers for scalping which make sure broker don't play your money? Tickmill and Fxview are some of them and offer similar conditions as Alpari.

Sure, Tickmill has good trading conditions and has minimum trading commissions. I have one account with them from last six months and have no problems yet.

 

[CavaliereVerde]

I am using Darwinex for forex .
eToro to buy and hold stock and ETFs.
If looking for alternatives I would go with Tickmill , Alpari or Oanda .

 

[Viro Major]

For futures: Stage 5 Trading w/ Advantage Futures ...contenders : Tradovate & AMP Futures
For CFD & FX: Dukascopy / LMAX New Zealand / Darwinex ...contenders : JFD Bank & City Index
For FX conversions : Interactive Brokers ...contender : OANDA

 

[Quantower]

AMP is good broker via CQG or Rithmic

 

[ncfx]

Global Prime A book broker is very honest, offshore now if you are not AUS..Darwinex for MT4 trading not only for their darwinex signals.

 

[AronJohnstone]

I have shortlisted a few of the brokers to get started with LiveTrading based on the spreads and lower commissions- Global Prime, MFX and FP Markets.

I will mainly be trading intraday, which of these would be best suitable for scalping?

 

[Upgradzz]

Fxview is a good one, FCA registered and live chat is very active.

 

[tomorton]

I'm looking for broker recommendation that is regulated by ASIC or FCA because my previous broker ICM spreads were not that great, and it was difficult to connect with their customer service.

This is the rational way to find a broker if you cannot benefit from personal recommendation from a known friend or relative - select the regulator first. Make sure it is one of the toughest regulators you can find, which probably means one located in one of the existing global financial services capitals, not Tuvalu etc.

 

[IceThor]

I use Hugosway and they are decent. I also have an IC Markets account. Its good to have your accounts separated sometimes

Yes I prefer having more than one.