HardwareZone Forum Insider on Facebook. Any forex brokers to recommend for ? Hi I am new to Forex trading and want to open a forex account. Any particular brokers to choose or to avoid? Last edited by Shiny Things; at Super duper safe put where our minister put.
Just wanna ask you guys which platform you think is the best Onada? POEMS quoted me at 1. U can consider investing in dual currency product.
If your amount is big enough you can try those western union. I just want to do an FX exchange, as the local banks offer a poor spread.
Sponsored Links Challenger and Hachi. Page 1 of 3. I can't really answer the first one, because I don't really trade FX myself and also I've made my views abundantly clear in other threads, that FX is a wildly inappropriate product for retail traders , but if you want to know I'm perfectly happy with Interactive Brokers.
I can answer the second one, though: Not on the tax front - the tax treatment should always be the same no matter where your broker is domiciled - but on the regulatory front.
You want your broker to be domiciled in an environment with very tight regulatory standards and strong consumer protections - basically the US or Australia. Singapore is probably OK, the MAS isn't bad, but they're not exactly consumer-friendly and they tend to have a "sort it out yourself" attitude to disputes. New Zealand is probably fine but I wouldn't have a clue; the UK isn't bad but there are a lot of fly-by-night operators. On the other end of the scale: Basically anywhere in Africa, the Mediterranean, the Caribbean, or Latin America should be a huge screaming red flag.
That's usually the answer, but it may not be in this case. IBKR charges fees on top of the quoted prices - two-tenths of a tick with a two-buck minimum. This is fine if you're doing big clips, but if you're trading 10k clips then it might not be ideal. That said, if you're trading 10k clips, you owe it to yourself to check out the CME's e-micro FX futures.
That said, usual disclaimer, retail investors shouldn't be trading FX anyway, the FX market is for global macro funds and people with gambling problems. Multicurrency account in Singapore? Important Forum Advisory Note. This forum is moderated by volunteer moderators who will react only to members' feedback on posts.
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