This user account status is Approved
Review of Interactive Brokers Australia at 12/05/2018
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I love their Trader Workstation (TWS) which has a very wide variety of trading tools. They also have very competitive commissions and trading margin rates.
The minimum account balance is quite high. Account holders aged below 25 years should have a minimum account balance of $3,000 while account holders of 25+ years should have an account balance of $10,000. You should also be careful since inactive accounts are also charged a penalty.
Review of Binarycent at 11/05/2018
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I find their minimum deposit of 10 cents to be very fair. I also liked their customer support since they offer a video chat. And although they don't have an MT4 trading platform, I liked their BinaryCent platform which has an array of trading features and especially for trading Binary Options.
This broker is unregulated and the security of funds is in question. Their Demo account is not free and it may discourage some new traders who want to have a feel before starting to trade. They also have very few Forex trading assets. They emphasis more on Binary Options.
Review of TradeDirect365 at 11/05/2018
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I just love their main trading platform, the CloudTrade. The platform has a number of great features like automated trailing stops. The platform is also very easy to use and navigate. I also love the fact that they have a demo account to practice trading and also test my trading strategies. For Forex trading, they have fixed spreads which are relatively low and with no commissons. The CFDs have on the other hand have low commissions of 5%.
TradeDirect365 has a very number of Forex pairs to trade. It mainly focuses on CFDs. Also, their Leverage is quite low.
Review of OFX at 11/05/2018
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They offer better currency exchange rates than the banks and are best for freelancers who want to transfer funds from one currency form to the other.
They don't have trading platforms like MT4 and the like and it is hard to analyze the market prices.
Review of FXTM at 11/05/2018
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FXTM has three types of standard trading accounts with the lowest one being a cent account. The cent account allows deposits of as less as $5. The maximum leverage is quite high since it is 1:1000 for all account types except for the FXTM Pro Account which has a leverage of 1:200. Every account also has a swap free option available. The orders executed in standard accounts also have no commission charges. With FXTM order executions are instant. Also, their ECN accounts are affordable since apart from the FXTM Pro account, all the other ECN accounts require a minimum deposit of $500.
Withdrawals that are made using other money transfer methods other than the FXTM Virtual Mastercard are charged a commission.
Review of Forex.com at 11/05/2018
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Forex.com has one of the best web, mobile and MT4 trading platforms that are highly optimized for speed and with quite a number of trading tools. Their web trader can work with almost all browsers. Forex.com also allows mobile trading. What amused me most with Forex.com is their trade signals deal, which is completely free for new traders for up to 45 days.
I feel their Mini Account minimum deposit of $250 to be quite high for beginners though.
Review of IC Markets at 11/05/2018
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ECN account holders enjoy spreads of as low as 0 pips. IC Markets also allows scalping for the standard account holders. It is one of the brokers with the most account funding methods and you can hardly say that they refused you to fund your account from your location.
IC Markets Standard accounts have relatively high commissions, High swaps and also high spreads. The minimum spread in a standard account is about 1.0 pips for EURUSD. Also, it is not the best broker to trade during news releases since in most cases, their severs will get frozen resulting to slippage.
Review of XTB at 11/05/2018
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Opening a real trading account with XTB is free and there are no prior deposits required. With XTB, I am assured of negative account balance protection. My account is always secured from making losses that exceed the funds in the account. I also love their loyalty rewards which help cash back any funds lost in terms of losses.
To my disappointment, their accounts are limited to UK and Ireland. Also, their maximum leverage is too low.
Review of AMarkets at 11/05/2018
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AMarkets offers one of the best wed trading MT4 platforms. It is absolutely similar to the downloaded version and it has all the trading tools I want. AMarkets also offers mirror trading. This helps me to supplement my trading strategies by coping trading strategies from more successful traders. Also with their Direct and Classic accounts, you don't need to deposit any amount to open them. And upon replenishing your direct account, you are given a 25% bonus.
The only disappointing this is that I cannot combine the 25% bonus of for opening a Direct or Classic account with any other bonuses and promotions that the broker offers.
Review of JFD Brokers at 11/05/2018
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JFD allows hedging which is especially very helpful during News releases. I use it a lot. JFD also allows mobile trading meaning I can monitor my trades using my smart phone even when travelling. They allow trailing stops. I use it whenever I want to lock in my profits so as to reduce the risk when going long term. Their one time order execution is real fast and I never get to miss my entry or exit levels.
Their leverage of 1:400 is quite low, especially for beginners who require more leverage to trade. Also, their minimum deposit of $500 is quite high, especially for beginners.
