1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Looking for a broker...

Discussion in 'Beginners Bootcamp' started by Falco, Jan 22, 2010.

  1. Falco

    Falco Recruit

    Joined:
    Jan 22, 2010
    Messages:
    2
    Likes Received:
    0
    Hello,

    I'm seeking a broker meets just a few simple conditions:

    - Allow me to open an account with $400,
    - Does not charge additional fees for the withdraw (preferably with paypal / moneybookers) because I would like once a month to cashout a small portion of account balance,
    - No need to send any documents by traditional post or fax (e-mail only),
    - Relatively good reviews, and fairness.

    Maybe I have rather unusual preference - not to mention the spreads, or leverage - but due to that size of account it's I think a reasonable solution.

    I thought about OANDA (I was very close to create account there) and ACTIVTRADES but they charge very high commissions for withdraw.
    I thought about FXDD and FXCM, but they have very bad reviews here as I see...

    What would you recommend in this situation?

    Thanks in advance.
     
    #1 Falco, Jan 22, 2010
    Last edited: Jan 22, 2010
  2. ernest8fingers

    ernest8fingers Master Sergeant

    Joined:
    Feb 25, 2008
    Messages:
    488
    Likes Received:
    7
    FXCM MICRO Account

    FXCM Micro Account fits this wish list-however-they dont offer "live" support of any kind-all thru email only but usually respond in a few minutes. Withdrawals are thru a paper check only for FXCM US and wire only thru FXCM UK-I like em now and if you read my previous posts of years ago-My change in opinion is minor miracle. Good luck.:)
     
    #2 ernest8fingers, Jan 22, 2010
    Last edited: Jan 22, 2010
  3. Falco

    Falco Recruit

    Joined:
    Jan 22, 2010
    Messages:
    2
    Likes Received:
    0
    Hmm...

    Everythings looks good on FXCM UK. No fee for bank wire... but there is minimum deposit of $2000. FXCM US "The minimum deposit for a bank wire is $1000"...
     
  4. Zmzr

    Zmzr Recruit

    Joined:
    Nov 29, 2009
    Messages:
    2
    Likes Received:
    0
    Recommendation

    Hello,

    I would suggest Prime4x.com

    Micro account, min deposit $100, payment option via moneybookers (very fast and no fee), no commission and no swap.
    Just upload your ID then you will receive email for your new account detail and will be ready for trading.


    Good luck ;)

    Sincerely,
    Prime4x client.
     
    #4 Zmzr, Jan 22, 2010
    Last edited: Mar 21, 2010
  5. cowmadagan

    cowmadagan Sergeant

    Joined:
    Dec 23, 2009
    Messages:
    393
    Likes Received:
    1
    Honestly, I'd also recommend saving more money at your job before you get into trading. Undercapitalisation is the biggest killer of all businesses and trading investments.
     
  6. RahmanSL

    RahmanSL Major

    Joined:
    Jan 16, 2010
    Messages:
    2,514
    Likes Received:
    199
    Recommend Prime4x.com as a trusted Broker?
    Yeowh! First of all Prime4X.com is not regulated and Cysec has issued a WARNING: Cysec has issued a warning over licensing issues for Prime Forex.
    Second, there are quite a number of very bad reviews about them from some of their clients not only in this forum, but elsewhere as well.

    Caution” and “go live at your own risk” would be very appropriate at this point in time and most certainly “NOT Recommended”.

    When a Broker offers you back your deposit money to trade, someone has to pay for it, and that someone is the client.

    Cheers!
     
  7. Bowmaker

    Bowmaker Private, 1st Class

    Joined:
    Sep 16, 2009
    Messages:
    40
    Likes Received:
    0
    Most people dont like recommending brokers as a lot of it is personal choice depending on what you want. You have a list of requirements so I would suggest you visit the site 100 Forex Brokers. Here you can input your requirements and it will give you a list of all brokers who meet these. Depending on your list you might get 20 results or even none that meet them all. Dont assume however that any brokers listed meeting your requirements are good ones. If you get 3 results for example then go away and research each one on FPA or other review sites. Good Luck!!
     
    #7 Bowmaker, Jan 24, 2010
    Last edited: Jan 24, 2010
  8. RahmanSL

    RahmanSL Major

    Joined:
    Jan 16, 2010
    Messages:
    2,514
    Likes Received:
    199
    Hi EDDIE ONEILL,

    Good to know you are 100ForexBrokers visitors too. I am quite active there too.
    Yes, 100ForexBrokers.com site has full of information on brokers and other stuffs, and a definite "must visit" for all Newbies like me.

    Cheers!
     
  9. Ricex

    Ricex Sergeant

    Joined:
    Jun 30, 2009
    Messages:
    359
    Likes Received:
    2
    Interesting site guys, thanks.
     
  10. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,656
    Likes Received:
    2,201
    This article is designed to help you find the best broker to meet your individual needs:

    http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

    There are a lot of broker selection sites out there. Be careful - some of them will try to sign you up through their IB links. Some will even try to steer you to the brokers that pay them the most. If someone wants to be your IB, that means they get a cut of your spread. Do you get anything from them? If they provide additional support or rebates, it might be worth it or it might not.

    Before picking a broker, make sure to test out their support for yourself. Make sure to test a demo account - if that doesn't work, why bother with live?
     

Share This Page