I personally only used a hand full of brokers in my trading career. However, based on my personal experience, I’d highly recommend the following brokers:
Think Forex (Recommended to Non-UK Residence)
Pro:
- Very Competitive Spread E.g. the spread on EURUSD is less than 2 (Basic Account) or less than 1 (Pro Account).
- Good customer’s service (even though they are in Australia)
- ECN or Direct to market (No dealing desk)
- MT4 is popular and used by many brokers
Con:
- Less currency pairs/products to trade
- Bank accounts and customer service are based in Australia
Setup Guide: Work in Progress – See Guide
Broker website: http://www.thinkforex.com/
(Go to link, Select “Open Account”, further instructions are on the site).
FXCM (Recommended to UK Residence)
Pro:
- Simple, Easy and Friendly Platform – it helps avoid simple errors
- Very resourceful – E.g. Daily FX is part of the FXCM group. Hence, there’s easy access to their training courses
- Good customer’s service
- Both Deal or Non desk are available
Con:
- Spread (cost) is slightly higher than AxiTrader
Broker website: UK – http://www.fxcm.co.uk/
