Axitrader,PFD nz,Global Prime, IC Markets, Darwinex, FXPIG, Tickmill, DirectFX?

moyes

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Getting back into trading again & I am trying find a reputable regulated broker with low spreads(for scalping & long term trades) & minimal slippage. Would any of you traders be able to recommend any from the above mentioned please or any other decent one out there that is not a bucketshop?

I am aware that most brokers are merely wolves in sheep clothing.. I have gone to look at reviews on most brokers and they all seem to have reviews that make me want to avoid trading completely.

Well, here is hoping I can get some good advice or recommendation from some of you on this forum. :)

I would appreciate any advice. Thank you.
 
Getting back into trading again & I am trying find a reputable regulated broker with low spreads(for scalping & long term trades) & minimal slippage. Would any of you traders be able to recommend any from the above mentioned please or any other decent one out there that is not a bucketshop?

I am aware that most brokers are merely wolves in sheep clothing.. I have gone to look at reviews on most brokers and they all seem to have reviews that make me want to avoid trading completely.

Well, here is hoping I can get some good advice or recommendation from some of you on this forum. :)

I would appreciate any advice. Thank you.

If you look at review sites just bear in mind that most of them are affiliate sites that are designed to offer useful content whilst trying to direct you as traffic to a broker that will pay the review site a commission. sometimes the sites are sponsored by brokers or owned by brokers but almost all of them rely on brokers commissions to keep going. Also consider that people are more likely to criticise than praise, especially in an industry where so many people lose money. they lose money most of the time because of their own actions not because of the brokers.

if you concentrate just on spreads (as scalpers tend to) you wont have done the correct due diligence. look where they're regulated and whether they are given poor reviews for withdrawal times. slow withdrawal should be a huge red flag. its no good being the best scalping trader there is and running £10k in to £200k if you cant get your money back.

if you're a long term trader the spreads aren't so important, the overnight financing is more relevant than whether eur/usd is 0.7 or 1.2 pips.
 
LMAX Exchange or Interactive Brokers

You haven't mentioned them and they may be the best choice if you're serious about trading. They're not bothered if you're scalping etc. and they don't trade against you (like market makers or similar brokers who make their profits out of clients' losses among other things)

Based on what I've heard, if it's only FX you are interested in trading, then LMAX should be a better choice
 




Thanks for this information. Yea, it is not easy trying to figure out which broker to trade with. I have heard good things about FXPIG, Global Prime and Axitrader. When I compare their spreads on Myfxbook, I find Tickmill and Darwinex to have the lowest spreads. FXPIG spreads seem to be the highest out of these bunch and the other issue with FXPIG is that they are based in Vanuatu with their regulations. I have no idea how the Vanuatu regulations compare with the FCA or ASIC etc..

Have you traded with either of these brokers before?

Have you used this broker(PFD from New Zealand) before? What were the trading conditions like and were withdrawals fast?
Their spreads on their website seem to be lower than most other brokers and comparable to Tickmill who had the lowest spreads on myfxbook..
 
Thanks for this information. Yea, it is not easy trying to figure out which broker to trade with. I have heard good things about FXPIG, ..

Looking but have not used any of the Brokers mentioned.

Any FCA UK regulated broker with client deposit protection up to £50,00 via FSCS UK or Swiss Bank-Broker will be (odd failure aside) above board. As of date, ASIC does not provide client deposit protection.

Under UK & Swiss broker regulation reasonably timely withdrawals are assured.
 
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Global Prime and Axitrader. When I compare their spreads on Myfxbook, I find Tickmill and Darwinex to have the lowest spreads

IMO, Myfxbook spreads are purely indicative and may be a delusive criteria when choosing a broker. My exposure with Tickmill and Global Prime was primarily positive, although I would single out Tickmill as along with better execution they ensure best safety with FCA regulation (IMO I consider FCA most safest watchdog).
 
https://tradeproofer.com/awards/broker/spread/2015/eurusd
Spread Awards.PNG
FCA Brokers
 
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