What's new

General My experience with different brokers

kraska

New Member
I have been doing trading for 3 years and still struggle to be profitable. I have tried different brokers and platforms and share my experience with you guys.

Plus500
When I started then I got a new account bonus and had chances to trade with the money they gave. I forgot about it and few years later I deposited money by myself and traded options on oil and then some other assets. Options are really risky assets and I do not recommend trading them. Overall, I discovered that Plus500 had some odd spikes and I lost always money. Heard from elder trades that you should stay away from Plus500.

Iqoptions
I was trading stocks with them and sometimes forex. Overall the spreads are quite large. Otherwise the support is quite good and they give you a manager who is calling you sometimes and teaches to be profitable. The graphical interface and indicators were good. I quit mainly for the spreads and sometimes I had emotions an lost money. I think for beginners it's good, but for more knowledge traders it's better to move on to other brokers.

Etoro
It's good to trade non-leverage stocks. Forex and commodities might be a little more expensive because of the spreads. Otherwise the community is good. Interaction with charts aren't so good and it's better to do analyzing separately in tradingview. I still use etoro.

The above ones didn't support mt4 or mt5 platforms. So with them you can't do automated trading.

VantageFX
It's usable on mt4. They did change their website design right now. I'm not sure how it is right now, but at that time, when I used them I used it for automating trading. I remember, when I withdraw money, they had a fee for it and i think the spreads were average. It's ok to use them I hadn't any problems. Support is good also.

Admirals (Admiral markets)
It's usable on mt4 and mt5. It's good for beginners. They restrict your trading leverage to 1:30 and you need to show good results to get a 1:500. They call you once in a while to show interest and ask if everything is good. For trading stocks it's good, because they have more than 4000 stocks. Otherwise for forex and commodities the spreads might not be the best, but for traders who have longer timeframes might be ok. I still use them with the 1:30 leverage.

XM markets
It's usable on mt4 and mt5. It's good for people who don't have a lot of money. You can open a microlot account and start trading with a really low budget. They have even a leverage of 1:888. But I prefer to use 1:500. ´They did restrict actually your leverage to lower to 1:200 when you reach 10k account. I have used them a lot. They do have higher spreads, but you can earn some money back with their VIP program and bonuses.

ICmarkets

It's usable on mt4 and mt5. You can open a standard account or a raw account. Standard does have higher spreads, but not a commission fee for every open trade. Raw does have smaller spreads, but when you open positions then you have a commission fee. Overall it's possible to already trade with 1:500 leverage. I have used them a lot. I do recommend them. Their support is over e-mail, but they do answer questions. One day I made a lot of trades. They were manual trades, but they sent an e-mail that my account got restricted, because of high trading activity. I'm not sure if it's good or bad. For example, when you want to use an EA, which makes a lot of trades during the day, then you might not be able to use ICmarkets, because it might overload their servers. Of course, when the EA is making tons of trades and they are not profitable then it's good, otherwise with profitable trades another strategy or broker should be chosen.

To sum up, I would recommend Etoro and Admiral markets for stock traders. For forex and commodities I would recommend ICmarkets. For low budgets and for building capital I'm recommending XM markets.

Trading is not about luck, trading is about controlling your emotions.
 
I have been doing trading for 3 years and still struggle to be profitable. I have tried different brokers and platforms and share my experience with you guys.

Plus500
When I started then I got a new account bonus and had chances to trade with the money they gave. I forgot about it and few years later I deposited money by myself and traded options on oil and then some other assets. Options are really risky assets and I do not recommend trading them. Overall, I discovered that Plus500 had some odd spikes and I lost always money. Heard from elder trades that you should stay away from Plus500.

Iqoptions
I was trading stocks with them and sometimes forex. Overall the spreads are quite large. Otherwise the support is quite good and they give you a manager who is calling you sometimes and teaches to be profitable. The graphical interface and indicators were good. I quit mainly for the spreads and sometimes I had emotions an lost money. I think for beginners it's good, but for more knowledge traders it's better to move on to other brokers.

Etoro
It's good to trade non-leverage stocks. Forex and commodities might be a little more expensive because of the spreads. Otherwise the community is good. Interaction with charts aren't so good and it's better to do analyzing separately in tradingview. I still use etoro.

The above ones didn't support mt4 or mt5 platforms. So with them you can't do automated trading.

VantageFX
It's usable on mt4. They did change their website design right now. I'm not sure how it is right now, but at that time, when I used them I used it for automating trading. I remember, when I withdraw money, they had a fee for it and i think the spreads were average. It's ok to use them I hadn't any problems. Support is good also.

Admirals (Admiral markets)
It's usable on mt4 and mt5. It's good for beginners. They restrict your trading leverage to 1:30 and you need to show good results to get a 1:500. They call you once in a while to show interest and ask if everything is good. For trading stocks it's good, because they have more than 4000 stocks. Otherwise for forex and commodities the spreads might not be the best, but for traders who have longer timeframes might be ok. I still use them with the 1:30 leverage.

XM markets
It's usable on mt4 and mt5. It's good for people who don't have a lot of money. You can open a microlot account and start trading with a really low budget. They have even a leverage of 1:888. But I prefer to use 1:500. ´They did restrict actually your leverage to lower to 1:200 when you reach 10k account. I have used them a lot. They do have higher spreads, but you can earn some money back with their VIP program and bonuses.

ICmarkets

It's usable on mt4 and mt5. You can open a standard account or a raw account. Standard does have higher spreads, but not a commission fee for every open trade. Raw does have smaller spreads, but when you open positions then you have a commission fee. Overall it's possible to already trade with 1:500 leverage. I have used them a lot. I do recommend them. Their support is over e-mail, but they do answer questions. One day I made a lot of trades. They were manual trades, but they sent an e-mail that my account got restricted, because of high trading activity. I'm not sure if it's good or bad. For example, when you want to use an EA, which makes a lot of trades during the day, then you might not be able to use ICmarkets, because it might overload their servers. Of course, when the EA is making tons of trades and they are not profitable then it's good, otherwise with profitable trades another strategy or broker should be chosen.

To sum up, I would recommend Etoro and Admiral markets for stock traders. For forex and commodities I would recommend ICmarkets. For low budgets and for building capital I'm recommending XM markets.

Trading is not about luck, trading is about controlling your emotions.
do you ever try zealcapital or zfx? is it a good one?
 
This is a really helpful list. :)
To this, I'd like to add Axiory - I have been trading with them for more than a year now and things have been very smooth so far. Withdrawals are fast, and customer support is great too. They recently gave me a bonus for trading - I can trade with it or withdraw it to my bank. Also, they offer a vast range of instruments for trading.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Similar threads

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)

Top
AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock    No Thanks