choosing a broker

[Somya Gabriel]

Does anyone know of a good, reliable broker that requires a low deposit sum?

Hello Ziggy,

I have gone through the new versatile alternative of Finexo MT 4 and found it very amazing to trade with and like the presentation of the data releases and information available at the site.

The economic information part of the Finexo MT 4 delivers really a good stock of data release and I like that because of ease to locate and the date-wise presentation of event to be happen helps a lot to get quick access to the desired information rather than searching all of the releases.
The philosophy of Finexo MT 4 including commitment to customers, multi-level support and assistance to the customers at each step of their trade making decision to make good returns through their excellent trade offers and making trade through automated trade services is one of the finest method to analyze the trends and the price action of the currencies at the Forex trading platform.

I am fond of their warmth and supportive live chat for assisting clients 24-hours for clarifying the issues and providing clients full-time assistance to understand the activity of the driving forces of the forex trading and thereby enabling the traders to make trade moves according to the price action of the various currency pairs that Finexo MT 4 used to put forth daily through the bid/ask prices displayed regularly.

You can start of with a Micro Account, minimum deposit $25. You can also practice on a free demo account as well.

[paulobona]

Nice article Nadine. But I wish to add more…I think in choosing a broker, it is better to look for a non-market maker broker as they are more likely not to go against your trades. It is also good to look for brokers with tight spreads particularly for the intraday traders…

[Somya Gabriel]

Yes there are pros and cons of Market Makers:
Upside:

* The trading platforms tend to be user-friendly
* Some of them come with free charts
* Some of them come with free Expert Advisors (automated trading robots)
* Price movement can be less volatile
* Some of them offer free news feeds

Downside:

* If they trade against you, it presents a clear conflict of interest in order execution
* They quotes may be worse than what you would receive at an ECN
* Slippage or requotes may occur

It is essential to choose legitimate programs whenever you think of trading forex.

[MZimmer]

I agree, I started off with many market-makers because of the attractive spreads. However, after 3 months of trading I thought I had gotten a brain cancer because there wasn't a day when my head didn't hurt. Requotes during volatile market moments (news), platform freezing etc.. just horrible!!! I hesitated to try ECN's like Dukascopy, Lava , Hotspot because you have to pay the extra buck for trades + the min deposit is quite expensive. Putting that aside, I joined dukascopy when they reduced the min dep to 1k. Yes, I am paying more for my trades but at least I am receiving high quality trading conditions.

[kris]

Usually losses that are "due to brokers trading against you" are actually because brokers have a hard time filling orders during volatile times, rather than that they are "bucketshops." Your primary concern shouldn't be whether they are a market maker or an ECN. It should be whether they have the feature set, currency selection, and support that you need, but most of all, are well capitalized and have segregated funds.

[figfxIB]

rvmarkets gave $30 initial equity without deposit try it!

[pizzafluffer]

Nice posts guys.. Anyways it is also better if you could have a nice trading package from the brokers because in some packages you can receive many services for a low price. Umm I know companies like FXCM, FxOpen and PSSforex have those kind of packages

[fpfx]

Nice posts guys.. Anyways it is also better if you could have a nice trading package from the brokers because in some packages you can receive many services for a low price. Umm I know companies like FXCM, FxOpen and PSSforex have those kind of packages

What do you mean "package"? Never heard of it...

[Probafix]

Before choosing a broker forex option, consulting a broker would be the first step, as everything can be purchased in packages to determine if it can be traded in the long run without loosing too much on the initial investment.