ThomasFernandez

Regulation is important for brokers because it lets the trader feel safe when trading live using real capital. I trade with FP Markets, an ASIC broker who is also regulated by CYSEC, so they adhere to strict capital requirements, and I can trade without being worried about my account safety.

Yes, it is a true ecn broker with regulations from ASIC and CYSEC. The spreads are some of the lowest, and their ecn account has a minimum opening balance of $100 AUD.

I currently trade with FP Markets. Their raw spreads ecn accounts offer some of the lowest commission costs, and the spreads in most major currency pairs start at 0.0pips. I've been trading with it for four months without any issues with their trading platforms; they were smooth even during deposits & withdrawals.

Yes, daily profit can be possible if you have a good strategy, broker and knowledge about forex trading. It is vital to keep learning about the forex market and improve your money management skills.

Leverage and spreads are important for certain traders. I mostly scalp, so using a broker that offers good leverage and spreads would be an advantage for me. This is why I trade with FP Markets that offer maximum leverage up to 500:1, and the spreads begin at 0.0 pips for most parts of my trade.

The best time to become a trader is when you have sufficient knowledge about forex and have also learned about its risks. Most traders start trading when they have grown the confidence to go live after trading for several months using a demo account.

I agree with most of the comments here. Using small capital is the best way to learn live forex trading, and it also has lower risk and loss involved in it. Beginner traders can focus more on improving their trading skills by using smaller capital instead of focusing more on profits and blowing up their accounts.

I've traded with many brokers; from all the brokers I have used, FP Markets is a better choice. It is an ASIC regulated broker with over 15 years of business. So they are reliable. Commissions are cheaper as well compared to other ECN brokers.

Most traders prefer using the MT4 because of its simple trading software method, and it also has an automated trading option for Experts.

I'm currently looking for a broker to trade live. Any suggestions on a good regulated broker with minimum opening balance and transparent commission costs?

When is the best time to become a trader, or when can a trader start live trading?

I basically trade two pairs in FP Markets, the EURUSD and GBPUSD, because they are highly volatile

The best conditions would be to use a reliable, regulated broker with low spreads and an older broker with ten or more years of business experience. For example, I use FP Markets that has tight spreads with lower commission cost and has been active since 2005.

In my opinion, I find both Fxopen and FP Markets as a good broker, but regarding lower spreads, FP markets spread start at 0.0 pips when I trade with major currency pairs, and it's even stable during high volatile market movements.

In my experience, I would say the best is to use the MT4 platforms for trading forex and the MT5 for CFD and stocks.

I also don't see much difference in an ecn account and Ecn pricing broker because I trade with FP Markets, an ecn pricing broker and with ICM an ecn broker. Both brokers have similar spreads, but FP Markets is just better in execution speed, and commission is lower.

From my experience the main causes of losses were entering into live trading to early without proper demo experience and lack of knowledge about forex.

Trading with different brokers gave me an clear idea on which broker is suitable. Because you can look at spread, executions and other important factors when trading with a broker. I traded with XM and Etoro but finally stuck with FP Markets.

A regulated broker gives us traders the quality of secured feeling while we trade. In simple words, the money invested is safer with a broker regulated by a gov body.

Using leverage is not a bad option if you know the risks and use money management skills to avoid major losses. Leverages also have their advantages, and disadvantages like using higher leverage can bring higher loss or profit.

I'm a scalper trading with RSI strategy, and so far it has been good but looking to try a few new strategies in EURUSD. Any other suitable strategy that is profitable and has a lower risk rate?

I trade using 500:1 with FP Markets, and I also stick to a money management strategy so that I can handle losses when there is a lose in a trade and avoid higher risks.

Demo is the best tool for beginners and newbies to learn about live trades without taking any risks, but you should also know that demo and live are not the same in terms of trading conditions.

Several brokers offer a free demo account. I use FP Markets free demo tool to practice certain strategy and build new skills. FP Markets demo account also has an education centre that offers in-depth daily technical and fundamental analysis that helps beginners venturing into forex.

I agree scalping is risky it can make traders profitable or blow their account. Even though scalping is risky it is also one of the quickest way traders earn profits. Most traders that are successful in scalping are experienced and have a good understanding of forex trading.