391 Forex broker updated daily — Search, customize, sort, compare in few clicks! Welcome to experience the Broker Search on a whole new level!

How to choose a Forex broker | 5 Practical Steps

There are two most common ways of choosing a Forex broker:

1) Simplified or "lazy way" — which is to read broker reviews, and based on stars and feedback make a choice.
There will be no guarantee, however, that a 5 star rated broker will be the best choice for your trading needs, or that the reviews you've read were actually genuine (unfortunately, that's the reality of online reviews submission).

2) Professional way — which is to do your own research while making reading reviews a part of that research.
We're going to describe the steps of making a professional choice:

How to choose a Forex broker

Choosing a broker: Step 1 — Know what You want from trading

Start by creating your very own List of broker features needed.
Choosing your first (or next) Forex broker can be much easier when you sit down and make a Wish list of services and features desired for trading.

Questions to add to your List:

- what currency pairs are you going to trade?
- what spreads would suit you (fixed, variable, how many pips)?
- do you accept paying a commission for trading Forex?
- what would be your minimum investment (account size)?
- what leverage do you need?
- what tools, indicators do you need for trading?
- do you need a specific trading platform (like MT4)?
- do you want to scalp?
- do you want to hedge?
- do you need a trailing stop?
- do you need "one-click-trading" execution feature?
- do you wish to have mobile phone trading feature and/or trading alerts?
- do you care whether it is going to be a ECN/ STP or a Dealing Desk broker?
- do you care about reputation of a Forex broker? (You must actually care, for the safety of your investment).
- which way (wire transfer, Paypal, credit card etc.) can you transfer and receive funds? There could be restrictions depending on the country you live in.
- how much would it cost you in fees to pay for funding, transferring, withdrawing your money?

Sort those questions by the level of importance to You, add your own and begin the Search.

Choosing a broker: Step 2 — Do the search for matching brokers

Scan the network, use search engines and visit every broker website. That's what traders did in the past!
Today, you can or try our Advanced Forex broker Search tool >>>
Choose Forex broker at 100forexbrokers.com

Choosing a broker: Step 3 — Pay a visit to broker's website

After narrowing down your choice to few Forex brokers, it is time to make a further research by visiting brokers' websites and reading about their Forex trading rules and policies, understanding the terms and conditions; getting a feel of the transparency of the business they do: availability of addresses and phones, customer support services, presence of the information of regulatory institutions they are supervised by.

If a broker doesn't have any physical address listed on the website on the Contact page (or anywhere else, where it'll be visible to visitors) it should sound an alarm in your head. Phones, chats, skypes, emails - all that doesn't count if there is no address!

Secondly, the overall appearance of the website can tell about its owners. It doesn't have to be all modern and interactive, written on Flash etc, but it should have a professional look and all pages and links must be functional.
Something like "Coming soon" on an empty page is not acceptable! To a new visitor, it always looks like this is a temporary message, but from our experience we already know - it is going to be "Coming soon" for months and years(!). A Forex broker who has opened a business and is accepting money from clients cannot allow a website to function partially!

Next important factor: your best choice would always be to open an account with a Regulated broker — a broker which is registered with appropriate authorities and remains under their supervision and regulation.

- United States: NFA, CFTC
- Canada: BCSC, CIPF, OSC
- United Kingdom: FSA UK
- Switzerland: SFDF, ARIF, FINMA
  (Since 2009 all Swiss Forex brokers require to have a banking license)
- Sweden: Swedish FSA
- Denmark: Danish FSA
- Spain: CNMV
- Japan: FFAJ, FSA Japan
- Hong Kong: SFC
- Australia: ASIC
This is not a complete list, for other countries there will be other Forex regulatory bodies to supervise Foreign exchange businesses.

Choosing a broker: Step 4 — Read reviews about selected brokers

We have our own section of Forex brokers reviews, but we encourage you to search for additional reviews online in order to make a decision: type in your Search browser: "[Broker name] reviews" and follow the links to read more reviews.

As much as reading reviews about Forex brokers can be helpful, it also can be confusing and overwhelming. Often times we hear from traders that after reading reviews they've seem to have hit the wall and no longer sure what broker to choose, because there is so much bad and good mixed up in reviews about every single broker, it is almost impossible to filter out the truth and make a choice. What to do?

We suggest sticking to the simple rules:

a) if a broker has been in the industry for more than a decade - it tells you that the company knows a lot about doing Forex business and caring about clients, otherwise it won't be here today.

b) if a broker is regulated by a major regulatory body in its country - it tells you that a broker is serious about its business and making necessary efforts to align with rules and requirements imposed by the supervising bodies.

c) if a broker offers more that one trading product, e.g. besides Forex also has Futures, Stocks, Options, Commodities, CFDs etc - it tells you that a broker runs a larger business, carries more responsibilities and has more clients trading with them.

d) while reading reviews, make sure you see no reviews about cancelled profits or denied withdrawals. This is a red flag. If one trader can be wrong (that's possible), seeing several reviews of this kind would be of a great concern.

Filtering good and bad reviews

Be selective about reviews you read, always analyze who was the person who wrote a review: was it a professional trader, or a novice.
By the actual message of the review it is often possible to see not only the level of education a trader has, but also how well he knows the subject he writes about. This way you'll filter lots of bad reviews where newbies accuse brokers in troubles they fall in because of own incompetency.

Apply a filter to 5 star reviews as well. It is not rare to see reviews submitted by brokers themselves in order to boost own ranking.
These reviews have a special "flavor" too and despite many efforts to hide the real face of the reviewer, it is not difficult to spot a promotional message hidden behind the review, other times it is 100% clear it was a promotion. Your job is always to have a cool head and judge everything objectively.

Choosing a broker: Step 5 — Final tips for the right attitude

Finally, your approach to choosing a Forex brokers should be somewhere similar to the process of choosing the right bank to trust your money to: reputation, transparency, convenience of carrying operations with money, good customer support.

Client Agreement? What's this?
As practice shows, many Forex brokers may (forget?) to update their websites according to newly changed trading conditions, e.g. show 1 pip spread while in reality it is already 2 pips, allow scalping, while in reality - don't. If you don't read Client Agreement, but instead simply put a check box "I agree" in front of Terms and Conditions while applying for an account, you're doing yourself no favor.

Know Forex and know your risks

A nice educational resource has been put together by NFA: http://www.nfa.futures.org/forex_training/content/CoverPage.htm
It offers many examples that will help you understand Forex and online trading and fill any remaining gaps about money management, account monitoring and trading risks involved.

Let your choice of a good Forex broker be easy and rewarding!

Copyright ©100Forexbrokers.com | All Rights Reserved

Watch video from Rob Booker: What to look for when choosing a Forex broker?

And finally, check if you're fully prepared and know everything about Forex world:
CFTC Consumer Advisory: Forex Fraud

Update: January 31, 2016

Just over the last quarter (Nov 2015 - January 2016), basically over the Holiday season, no less than 10 Forex brokers have decided to go out of business. The list of out-of-business brokers is given below:
Apex Financial Services
Azura Markets
Capital Trust Markets
Elxi Markets
Elit4x UK
Nova Tradex
Real ECN

Earlier in 2015 the notorious "Swiss Frank surge" has created a large wave of Forex brokers filing insolvency and exiting the market. Among them were some large brokers such as Alpari UK and Excel Markets NZ.
There were a large number of White label and IB brokers who subsequently had to pull out of business. The Forex brokers industry had lost no less than 20 brokers as a result.

This just reminds us again in 2016, that choosing a broker isn't a few minutes deal, but a serious decision, with direct financial impact.

Broker discussion area


December 3, 2016

Thank you very much for this thread! I am sure, by reading this informative thread, new Forex traders will get proper guideline on choosing Forex broker for their demo and live trading! I see, most of the new Forex traders changed so many Forex brokers during the 1st year of Trading! Because, they select their trading platforms without any plan! But , I stay here with my 1st broker TradingBanks! Here I get all of trading facilities that I require!


December 1, 2015

Is anyone trading with GCI Financial ? was withdrawal always successful ?


November 16, 2015

Can you review this broker Forexcorporate.eu I have an account with them with small amount and i want to put more but i want to make sure it is ok because for now everything is fine. i dont want things to change after i put more money. thank you



October 18, 2015

I'm truly sorry to hear that. Unfortunately, there is nothing you can do but to trust that police will recover your money.
In Pakistan you have Securities and Exchange Commission of Pakistan (SECP) - www.secp.gov.pk - which overseas financial activities.
Also, at this time, we don't have any Forex brokers from Pakistan listed.


October 16, 2015

Dear BG,

I would like to state that broker FX-IS is a froud and had taken 1000 $ from me and 4 more of my friends and ran away. I am in pakistan and Police processess are very slow may be it will take 25 to 30 years to recover my money.

Please suggest Pakistan policy about Forex is it Allowed. and what will be the money transaction process because banks are not supporting forex...

is there any regulated broker in Pakistan....

i know you are going to help me in this..... SO advance thanks




July 16, 2015

Why does a broker like yadix.com execute HFTs with high quality and speed with no problems for profitable trading, but other STP brokers have delayed execution, large slippage and what seems like manipulation or trades?

I have a powerful dax trading system (scalper + HFT) that makes excellent profit with Yadix but other brokers not, why is this?

Any help please?


June 6, 2015

Hello.. I need help to review this broker. Is it a qualified broker.

Ct capital inc registered at St Vincent and Grenadines and company based in

Address: Level 27, PWC Tower,
188 Quay Street, Auckland CBD, 1010,
New Zealand.

Phone: 64-9-3632739
E-Mail: [email protected]
Web: mgcforex.com


fund managed by www.morgagecapitals.com

Thank you very much for your help.


April 6, 2015

good project!
Simply do it, a trial and error is the best method in business. Especially if it's an online course.
I'm not sure I can offer any guidance on it, I don't offer online courses.


October 1, 2014

Guru I want to do online Economic Calendar Data Course, can you guide me takecare


August 5, 2014


NFA in US, FCA in UK - those you can rely on 100%.
ASIC regulated brokers in Australia are fine too.
New Zealand's FSP register is not enough for a strong protection, only registration with FMA in New Zealand would mean "fully regulated".
The rest of the countries - we haven't had much experience with to suggest about the level of regulation/protection that they offer.


August 3, 2014

Hi, It seems that you have some knowledge here.

I want to ask you about the regulations.

Which regulations do your prefer and which will you avoid in a Broker?

I mean FCA and USA regulator institutions are a must, but are there brokers regulated by another agencies that can be trusted?

I mean, can we trust a France, Spain, Australian, Japanese, Estonian, Ukrainian, Cyprus, New Zealand, etc. regulated broker, which will you prefer and avoid?

(Notice that I'm talking about ECN and NDD brokers that suppose to have no conflict with spreads and another practices like Market Makers)

Thank you very much.


May 22, 2014

We're very busy with updates and new broker submissions. More than ever this year, which is great!


July 21, 2013

wake up BG , wher are you ? it is always nice to read your unbiased expert comments.


November 2, 2012

Hello Vaibhav,

thank you for your question, yet unfortunately, I won't be able to suggest/provide an opinion on a broker.

Our website policy is to remain 100% unbiased towards all brokers. We offer detailed information/listing about brokers, but we don't rate them. For ratings and reviews please visit forums and Review pages.

Thank you for your understanding!

(Both funding options are safe, just make sure you're able to receive the money with the same method/option you've used for depositing).


October 22, 2012

Hello Broker Guru,

I am from India. I want to start Forex trading with initial investment of $500. I am totally new to this market. I have done practice trading with 4XP.com . Is is it good broker?? I am thinking of going ahead with it.

Also can your suggest me about method of transaction. I am thinking of Webmoney or LR.
I am trying to find out safe & comfortable method of transaction for trading from India.

I don't want to loose money because of any scam or False company.

Could you please guide me.



October 8, 2012

ok thank


September 14, 2012

Hello Imran,

1 - yes, Forex is legal in Saudi Arabia.

2 - due to vigorous competition for clients, Forex brokers are known to follow-up every trader who has ever left information about himself, registered or downloaded a demo account etc.
Even if you don't have any experience (or enough experience) trading Forex, they will still encourage you to open a live account. This is very wrong! And the only reason they do it is because they don't want to lose you as a client (because tomorrow you can find another broker, who might be more convincing over the phone and you may end us depositing with that broker instead)...

Yes, you'll hear about extensive support, education etc etc, but all these things are basics and will not help you earn all necessary trading skills, which can be developed only though continuous practice. And practicing is best done on a demo account.

Hope this helps!


September 4, 2012

Hello GB

1st if you can give me info about trading from Saudi arabia ..is it legal ?? and 2nd when i signup with any forex company i get a call from them + email and they are very supportive the guy from the specific company will tell you " dosent matter if you dont have the experience in forex just deposit the money and we will help you all the way "

Now my problem is are they really gona support all the way ..i mean give directions to the newbies like they are saying Or they just need the deposit and then will leave you alone with sharks ??

thanks in advanced



August 16, 2012

Buying signals is not a bad idea at all, though, as it often happens in this industry, there are many signal providers who have little to no clue about trading Forex on a professional level...
If you're confident that you've found the right signal provider, wit credentials and a solid background - go for it! Though it's never recommended to put all eggs in one basket, be it Forex, Stocks or simple bank deposit.

I don't have any information about reliable signals providers or where to find them, I'm very sorry.


August 1, 2012

Can you write about buying forex signals and if you recommend to work with people who sells signals.


July 29, 2012

thank you for the article


July 25, 2012

It is very good and informative article about how we can get good broker. I am agree with the author in all points but I think all the brokers are not 100% perfect , we can find sometime negative point about every broker.


June 22, 2012

I'm very sorry, I can't suggest or review brokers. The site policy requires to remain fully unbiased towards all brokers.
Please carefully read reviews, not only on our site, but on other sites as well, then consider pros and cons and if confident, make a trial investment to test live trading conditions.


June 22, 2012

sir BG can you please tell me something about 4xp broker..thanks


June 18, 2012

Hi Alex,
To find brokers that offer Fixed spreads, please use our search

with the following parameters: "Spread type" -> "Fixed"

Forex.com is one of the oldest known brokers in Forex. With a huge client base (consisting of experienced as well as many novice traders) it's very normal to see higher volume and percentage of reviews, including negative reviews.
We tried to address this issue about reviews at "Choosing a broker: Step 4 — Read reviews about selected brokers"
here: http://www.100forexbrokers.com/how-to-choose-forex-broker

It's up to you at this stage to decide whether the reviews you read about Forex.com are satisfactory or not. In all cases you can always call a broker and express all concerns you had while reading the reviews.


June 12, 2012


Does anyone have any information on Forex.com? They were recommended, but I have read a ton of bad reviews on them. Also, does a list exist showing brokers specifically with fixed rates?

Thank you,



April 29, 2012

Hi , i recently got interested in Forex and made enquiries with a company called FXORO. I set up a demo account and did ok, and have moved onto a real live one but the spreads are greater, and much greater than most of those seen on here. I cannot find any reference to them on this site. Anyone know of them?
Ta, J (btw, nice site, wish I'd found it before!)


April 4, 2012

你的建议对我很有用,我是一个初学新手,我试过 forexcontrol 这个平台,平时我上课,有时候会去炒下,还能赚点呢,做的是短线。而且无论出金和入金都十分方便和安全。他们给我很好的QQ(860924771)支持,一旦我有什么问题,他们会给我,即时的回复。在去年的一年里,我从这个平台上学到了很多。中得来说还是个很好的平台。

--------- Google translate --------

Your suggestion is very useful for me, I'm a beginner novice, I tried forexcontrol this platform, usually my classes, sometimes to fry, but also to earn it, do short-term. And regardless of the gold into the Grand Waldo is very convenient and safe. They gave me a good QQ (860 924 771) to support, once I have any questions, they will give me immediate reply. From this platform in the last year, I learned a lot. In too, but still a good platform.
Thanks for your advice


March 13, 2012

Sorry, we can't recommend or vote for/against any broker. We're required to remain fully unbiased.
There hasn't been complains about 1pipfix, however, regardless the broker you choose, make sure you start with the smallest allowed deposit in order to fully test trading conditions, support and withdrawal process before investing larger funds.


March 11, 2012

Hi Guru,

Can you suggest pros and cons about 1pipfix ? They have low 1pip spread for a 2500$ account and 3 pips spread for a micro/mini 100$ account. Flexible leverages - Metatrader4 platform. As far as I can read reviews, geting refund and customer services is also good enough. They are again a part of FxSystems ltd, W.I ...So what should be done...I see many positive reviews on babypips.com

Thanks for your reply


March 7, 2012

hello all,

in my opinion . the best broker i ever trade with is forexcontrol. it got low spread and its huge that you can buy and sale many currencies . so i really strongly advice all with this broker .
i find their service even during weekend .


February 5, 2012

Incompetent people providing chat support?
It's an issue known not only to Forex industry...
Yet, I fail to understand how any reputable company can allow that... Judge for yourself. Try calling them instead of chatting may be.

Answering your questions:
Micro Trading Accounts starting at $100
Minimum Lot Size 0.01
0.01 meaning 10 cents per pip ?

Standard Trading Accounts starting at $1000
Minimum Lot Size 0.05
what it means ? 5 dolalrs or 50 cents ? is it a website mistake ?
50 cents

Professional Trading Accounts $2500
Minimum Lot Size 0.10
why is 0.10 ? when you deposit 2,500 usd you should get at least 1 lot = 10 usd
...0.10 looks liek cents > so where is the professional trading account?
0.1 lot is fine too. You can choose to trade 0.1 lot = $1 per pip or 1 lot = $10 per pip

4runnerforex and 1lotstp belong to the same family of brokers operated by FX Systems Ltd.


January 21, 2012

I really dont knwo whats your technique to get some answers from all these brokers website, cos i am not beling able to speak with one competent person online chat.
Asking a simple question puts me on hold for a while, redirecting me from one operator to another .
This website is really englightening, and provides brilliant advices. However how do we know taht the opeartor on monthly salary on the live chat, will be able to say the truth about all ?
I might ask are you a real ECN or STP, and she will say yes we are ?
BUt then if asking more specific questions about Mini Lots with MT4 been treated as ECN, she will say yes again. But how can it be possible, if normally ECN account with Mini Lots wont reach the liquidity providers due to their small size .
And if they dont reach the liquidity provider, then we end up tradign again with a Market Maker DD.

I have asked 4Runnerforex forex:
Please would you tell me how many Dollars is 1 Pip, with the macro/mini e standard account option ?

Micro Trading Accounts starting at $100
Minimum Lot Size 0.01
0.01 meaning 10 cents per pip ?

Standard Trading Accounts starting at $1000
Minimum Lot Size 0.05
what it means ? 5 dolalrs or 50 cents ? is it a website mistake ?

Professional Trading Accounts $2500
Minimum Lot Size 0.10
why is 0.10 ? when you deposit 2,500 usd you should get at least 1 lot = 10 usd
...0.10 looks liek cents > so where is the professional trading account?

Anybody know the real answer please ?


January 17, 2012

@ trader: (1) Does a ECN broker behave like a real ECN NDD only when trading with standard lots ?
What about when trading with mini-lots ? NOt ECN anymore ? but still NDD ?

That's a very good question.
Sometimes traders receive misleading information, sometimes they simply don't do the homework well.

ECN accounts are different from all other accounts offered by Forex brokers.
In our CyberSearch, inf we list a broker as ECN/STP (only!) that means that all accounts are ECN. Otherwise, if you see "Broker type: ECN/STP & STP & Market makerB - this tells you that different accounts will have different conditions.
Your goal is to find out WHICH exact accounts are ECN, and which are not. We list minimum deposits and account names for ECN accounts at: http://www.100forexbrokers.com/stp-ecn-brokers

1LotSTP is not regulated. There is no Forex regulation in Nevis as far as I know.
ECN accounts with 1LotSTP start from $1500, the rest of accounts are STP.
How do you believe in what any broker says to you? You don't believe. You check the site, verify the facts, look at discussion threads and then make own conclusion, which would be: Are you comfortable enough with this broker, do you trust them based on what you've learned? If you feel you can find a better option - keep searching, but if a broker met your expectations and/or convinced you in their integrity and funds safety etc., then why give them a try?

@ trader: From the chat we can clearly see that support team was far not specific in their replies and clearly avoided providing any details or direct answers. This is an example of a support person using standard chat lines, although it looks like you're having a normal chat. (Sometimes you can meet cases even worse than that). Unfortunately, it's impossible to learn anything from such chats. Your next logical step would be to either give them another try by calling in or keep on searching.
ECN accounts are listed here: http://www.100forexbrokers.com/stp-ecn-brokers
All of the brokers listed offer ECN (on the listed accounts!).


January 15, 2012

Thats the kind of answers i get when i try to ask specific questions to a brokerage firm trough live chat>>>
is that your case too ?

Please wait for a site operator to respond.

Chat Information You are now chatting with 'Roy'

Roy: Hello, thank you for contacting us. How may I assist you?

Derek: hi thanks will ask you some questions please

Roy: Yes please.

Derek: am aware and have read that you are a ECN brokers

Derek: but how come that the spreads are fixed if ECN has only variable spreads and charge commission ?

Roy: Our fixed spread accounts are based on a "target" spread. At times due to market conditions the spread may widen beyond the "target".

Derek: that does not make an ECN then

Roy: While we work hard with our liquidity providers to achieve our targets spreads as often as possible at times due to market conditions (news events, holidays, lower overall market volumes) spreads can widen at times.

Derek: Ok, thanks,,,The broker acts like a ECN on the pro-fixed account and the ECN account that you are offering of 1,500 usd... BUt will act as a market makes on teh micro account and fixed standard account ?

Roy: One moment please.

Derek: sorry just am trying to avoid like hell, Market makers and Dealing desk brokers who chase stops and counter trade customers,,, so pls would need to know which one is which ,,, i have read reviews of your services on few websites and i want to confirm if its all true before opening liev account ,,,thanks

Roy: Thank you for the confirmation.

Roy: I I mean waiting*

Roy: We operate as a full STP/ECN brokerage. Therefore our accounts operate on a "Market Execution" model.

Roy: This means that once your order is submitted it will be filled at the current available market rate.

Roy: We do not have a "Dealing Desk" (DD) we are not "Market Makers" (MM).

Roy: We are STP. Straight Through Processing and ECN (Electronic Communications Network).

Derek: yes but also on micro accounts and standard account ?

Derek: most brokers ECN or STP do not consider customer's mini lots 0.01 and if the

Derek: Small orders of 0.01 lots would have to be accumulated into 0.1 lot at least before being sent to the liquidity providers ,,If a broker can't accumulate enough orders, they will need to countertrade it. That's major giudelines, but each broker works according to own guidelines and strategies,,, is that your case ?

Roy: Unfortunately, that is an issue I am unable to assist you with at this time using this system. Rest assured, your ticket was received. Please login to the ticket system to check the status of your issue. We try to reply to all tickets within 24 hours. If more than 24 hours have passed it may be a good idea for you to update the ticket to inquire about the current status.

Derek: what is a ticket ? and why cannot assist now ? thanks explain ..

I am just trying to get an understanding here thanks a lot.

Market makers, or DD are off my list... HOwever as i like to trade with Mini Lots, i should get rid of all STP's brokers too, due to the fact that they will countertrade you, if standard lots are not used.
Am not asking which one is the most honest, just trying to see which one is likely to cheat less on customers ?
Why on the website the STP + ECN are listed together ?

Where to find a List of all Brokers
ECN only and not STP ...
MT4 platform (with THE VIRTUAL DESK SWITCHED OFF inside the platform)
Mini Lots (and not counter traded)
Variable Spreads
Low-Medium Spreads
Regulated of Course
Min Acct deposit 500/700 usd.

The reason for mini account 500/700 is because, i dont want put all my eggs in a basket not knowing if one day, i will be able or not to withdraw from my account.

Thanks for help


January 14, 2012

Please Broker Guru, help me with this one..
(1) Does a ECN broker behave like a real ECN NDD only when trading with standard lots ?
What about when trading with mini-lots ? NOt ECN anymore ? but still NDD ?

I am quite interested in "1 Lot stp" brokerage firm and have read loads of good reviews,, HOwever most of the positive reviews have been posted by newbies like me, because they underlined how easy was to open an account, or about the friendly live chat...

I did a search using your nice "broker cyber search engine" and found out that 1 Lot STP are not regulated. However i chatted live and the operator said they are regulated, with a bank or institution.. my mistake did not save the chat...

I have read and re-read, your advices about "how to choose a broker" and i have asked those questions to this and some other brokers .... how much capital ? how many employees? how many banks you work with? etc ... and i got positive answers every time ...

(2) HOw do we know that the operator is genuine ? Forgive me for that, but still allow me to doubt and ask.

1 LOT STP is ECN but offers conditions that does not make it look like an ECN >>
ECN = Pay some commission + Variable spreads.
Fixed Pro Accounts $1500
1 Fixed on EUR/USD Majors are just 1-2 TARGET PIPS and our lowest fixed spreads. No commissions!

(3) How do we behave with that ?

Thanks a lot


January 5, 2012

Food for thought, saw one nicely explained point, here it is:

Source: http://forums.babypips.com/
Question: "How exactly is a broker supposed to be reputable if reviews are worthless?..."
Answer: "...Successful traders do not whine about brokers or the utterly ridiculous stop hunting comments. All reviews are made by losing traders, not successful ones. Does this register? Ponder on this a bit because it is the ultimate truth on "broker reviews". Losers review brokers and most broker reviews are negative. This is why I say it is worthless. So if you make pathetic losing trades upon losing trades, the broker is crooked right? Keep thinking that please. And keep on blaming the brokers and tell yourself that none of them are reputable. You are not being eaten alive by your broker; you are being eaten alive by huge trading banks trading with billion dollar trading accounts and central banks trading with trillion dollar accounts and they all know that most traders are trading with technical analysis and we all know where the most stops are don't we? So do they. Unless you are trading with an outright crook broker manipulating the feeds, don't blame your broker for your miserable trading. OK? And smart people would have understood my post immediately. "


December 15, 2011

sorry, never heard of them (bancoprovidencial.com)
Plus their language translation icons on the site don't work to even invite any further browsing...

Either way, if it's a bank, this always adds a huge value of trust comparing to any other Forex dealer.


December 15, 2011

hey BG

What U THINK OF Providencial FX (Banco Providencial, S.A.) IS A BANK OFFERS FOREIGN EXCHANGE




December 5, 2011

Thanks Joe,

that's true.


December 4, 2011


It is possible but everyone has to go through the fire before it's possible on your own.
Everyone loses money first. Sorry but that's the truth.. wishing you good luck and profits.



December 4, 2011

Oanda CAN NOT HANDLE 0.0001 lot sizes unless you use their fxtrade platform. If you write your own code in MT4 and need MT4 to run those programs OANDA is NOT!!!! for you.


October 25, 2011


Is it possible for us to make consistent profits with reliable market makers and get away with it or are we bound to lose money with them in the long run, no matter how good we are?

Thankyou for such an informative website.


October 6, 2011

Hi Karthik,

yes, if you're satisfied with demo, spreads (1 pip is quite competitive and good) etc. and feel ready to start live trading, then why not. The only advice would be to start with the minimum deposit first, because you want to: 1) make sure that the live platform offers exactly the same conditions and execution speed, 2) your strategy works well in live trading environment 3) your money management skills are smooth and sound 4) you're able to make a withdrawal.
Once you're done with that, you can top up your deposit with any amount any time.

At our site we can't recommend any particular broker, but regardless the broker you choose, don't forget to read reviews on several sites.


October 6, 2011



September 29, 2011

I give amusing news to all.I found a company called Estocks.com which offers a 30% bonus, has three great platforms including the MT4, has an Ecn account attached to the MT4. I think the coolest thing about this company is that they have the best forex blog on the net.


August 28, 2011

"Can you handle 0.1 lot trading? This is the smallest lot size that FXPro offers... By investing only $400 and risking $1 per each pip.."

Yes, you can theoretically, but once you start trading, you'll quickly realize that it takes only -10 pips to lose $10 on a single trade. And with an average of 30-50 pips stop on hourly charts, you're looking to risk losing $50 on a single trade. That said, trading with such high risks, there is a 95% chance you'll lose your account during the first week of trading.
In order to avoid the disaster, you should always start trading with 0.01 lots, where 1 pip = 10 cents.

"Wouldn't a 0.1 lot be $10,000 ? and 1 pip $US 0.01?..."

1 lot = 100,000 units = $10 per 1 pip
0.1 lot = 10,000 units = $1 per 1 pip
0.01 lot = 1000 units = $0.10 per 1 pip


August 28, 2011


Help me do the math with your post above.. I'm a beginner...

"Can you handle 0.1 lot trading? This is the smallest lot size that FXPro offers... By investing only $400 and risking $1 per each pip.."

Wouldn't a 0.1 lot be $10,000 ? and 1 pip $US 0.01? That would make each pip worth 10,000 x .01 or $100. That doesn't even make sense. Can you say the same thing you did above, but a little slower? Thanks!


August 23, 2011

The best way to choose a Forex Broker is to test out several different ones using the free demo accounts that they offer.


July 11, 2011

Hi Jock,

At Pepperstone "Razor" accounts are ECN/STP, the rest is DMA/STP.

Go Markets is a DMA/STP broker, there is no dealing desk. Regarding spread widening, every broker with variable spreads will have that during certain market hours, so you have to focus on When and Why those spread widen.

HY Markets is the only dealing desk broker among those 3.

All 3 brokers are properly regulated in their countries:
Hy Markets - FSA UK,
Pepperstone - ASIC,
Go Markets - ASIC.

Write your comment or a review

Enter the characters shown in the image.
© 2008 — 2017
Add a broker
Privacy policy
About us
Advertise with us
Your feedback
Link to us

This website is free for you to use but we may receive commission from the companies we feature on this site. Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference) is speculative and carries a high level of risk. Click here for more information.