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I have been doing my Forex trading from the last 10 Years with the International and Reputed Forex Broker FXOpen MarketsThe process of choosing a right broker can be made easier by understanding which are important features for yourself. As for me, I can’t compromise lower costs for any bells and whistles so I look into that only. Even rn I am using AAAFx, they don’t offer attractive features like no deposit bonus and all but that’s fine because I don’t bother about that. Fast order execution and tight spreads are what matter to me and as long as I’m getting those I’m fine.
I totally agree with this, you cannot fully see the true nature of the broker unless you have your funds with them. So it's important to start small and monitor them, then gradually increase your funds based on what you have seen. Great list you have mentioned, I especially had XM, Hotforex and Forexchief on my list while deciding which to trade with.Finding the right broker requires a lot of research, comparison and personal testing. Sometimes, we tend to focus on surface level features and tick the brokers who claim to offer low costs, ECN executions, fast withdrawals etc but I think you can only fully understand whether or not the broker is right for you when you actually trade with them (not on a demo account but live account). This is why it’s very important to not deposit huge amounts with the broker unless you are completely satisfied. This is where low deposit brokers like Fxview, XM, Hotforex are helpful.
You are absolutely right, so many professing to be the best. Great care is needed indeed. Aside a broker being regulated I would pick two things from what you said;It’s not easy to find the right forex broker especially when all of them are advertising to be the best one for you. To avoid confusion, know what you want like no re-quotes, great customer support, and easy transactions.
You’re right, this is the reason I chose turnkey forex, a broker with a good reputation and solid trading conditions.Reputation is of paramount importance imo because no one would want to risk his money trading with a broker with a bad reputation. A well-reputed broker is one that traders should opt for.
Could you specify their pros and cons for my clear understanding as I am thinking of switching my broker.I have to say that fxview and pepperstone are a must if you are looking for a good ecn broker. Their trading conditions are favorable, at least good for my trading.
The pros with both these brokers are ofcourse low minimum deposits, low commissions, tight spreads, multiple withdrawal options etc. There is only one con, if you are looking for high leverage then pepperstone may not be the right choice for you since their highest leverage is 30:1. On the other hand, Fxview offers dynamic leverage which is highest for major pairs i.e. 500:1 but as the lot size increases, access to leverage decreases.Could you specify their pros and cons for my clear understanding as I am thinking of switching my broker.