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Broker selection is difficult today

Topic: Broker selection is difficult today

Among thousands of onlinebrokerage houses selection of broker or a few can be extremely difficult. Again with increasing number of scam brokers currency exchange traders are in continuous threat of losing money. so I have chosen a licensed broker ForexChief after conducting poorer due diligence. And it is providing me lowest zero spread, 1:400 good leverage, very user friendly MT4 platform along with mobile trading facility, requite and slippage free timely and fastest trade executions with safety of funds.

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Re: Broker selection is difficult today

IC market is highly recommended .. especially for scalpers like me.. 

if you are mid long players( especially those hold for few days , then you could choose HOTFOREX since the spread is bigger(around 1.7-1.9 pips per side for EURJPY) than IC market can provide. HOTFOREX provides high leverage up to 1:1000, reliable for deposit/withdrawal using credit card and debit card )

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3 (edited by gordontan 06-07-18 06:43:12)

Re: Broker selection is difficult today

i list out these criteria for you guys to compare :
                                         HOTFOREX                                     IC MARKET
1.payment/withdrawal                          
-reliability                           high(credit /debit)                       high(credit/debit)
-variety (out of 10 points)     5(bank wire,cards,bitcoin            10(almost all types of payment methods are provided 
                                            local transfer, skrill,neteller)              including paypal,payeer,perfect money,western union)
-speed of processing             -very prompt for deposit (cards)   -very prompt deposit
                                           less than 10minutes                    -submit before cut off time for withdrawal,within 4hours(paypal)
                                           -1/2 day for withdrawal(cards)     -cards withdrawal roughly the same with hotforex

-account wallet (internal)      your fund deposited can be           -only direct to the mentioned acc
                                           transferred within many
                                            accounts flexibly
2.)customer service             fast,attentive,relevant                fast,attentive,relevant
                                             withdrawal status well informed    withdrawal status

3.)leverage                         up to 1:1000 for micro acc         max 1:500
                                            others acc type 1:500/1:300          
 
4.)account type                   various(micro, zero ,fixed...)    standard and ECN acc

5.)MT4 platform                     smooth ,fast execution                 smooth and fast execution
                                             except heavy news will jam           will jam during heavy news also 
                                             (if too many indicators loaded)

6.) compliance /regulation     CYPRUS(if big acc holder like         ASIC regulated with                               
                                               more than 10kUSD,my advice         1 tier bank fund seggregation acc
                                               is dont use HOTFOREX,risky
                                               but so far me no issue
                                                 
7.) bonus                                 yes (but i didnt take)                       totally no( is ok for me)

8.) copy trade/fund mgmt           yes                                                 not available 

9.)VPS free                                no                                                   yes,(monthly trade 15 lots at least then free)

10.) spread                               -ok, 1.6-2 pips (no com)                      tight(0.9-1.3pips/side,no com)    
                                                -with com(usd10/side ,0.9-1.1pips)        -with com,USD7 both side,0.2-0.6pips
                                              
as a conclusion, if you are big account holder who like to play scalping , you should use IC MARKET, small fund user ( USD200-USD1000) who like to use copy trade ,can use HOTFOREX.

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Re: Broker selection is difficult today

Thank for your review, the comparison between those 2 popular brokers are really detailed and helpful. Any other broker choices?

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