Hi all. I'm new to trading and need help choosing an FX broker. I enjoyed using SaxoTrader but they charge 10USD per trade (20 for roundtrip) and that is quite expensive given that I intend to start small (1000GBP). Their charts and technical tools are great though.
I did try looking at a few others like plus500 and 4xp but they do not have monthly charts and I am unable to draw lines on their charts.
So I was wondering if you could recommend an FX broker with low spreads but with good charts as well.
TLR
Can anyone recommendan an FX broker with low spreads but with good charts as well. Working out of the UK.
Many thanks!
Hi Joe,
I am extraordinarily surprised at the number of people here who are recommending small, relatively little known brokers - almost as much as I am that you have been forced to pay $10 per trade!
As a newbie, my own thoughts would be to go with one of the 'big boys', certainly until you have formulated and honed your own plan of trading. To that end, you could do an awful lot worse than reading Forex Brokers Profitability for Q2 2013 | Forex Blog: Espipionage
This shows the most profitable brokers over the past quarter along with the confirmation that the Big 5 are still Oanda, FXCM, Interactive Brokers, Forex.com, and IBFX. Personally, I also use a company called ETX Capital who can be found at Financial Spread Betting | Spread Betting UK | ETX Capital Fixed spreads down to 1.5 pips on EURUSD and a solid company.
Hope this helps
Phil Stringer
