WEBVTT 0 00:08.500 --> 00:15.580 OK, you know the brokers that I use because I have shared them with you in the live trading section. For 1 00:15.580 --> 00:22.180 this course, I used OANDA, but I usually get this question: "What if I don't want to open an account 2 00:22.210 --> 00:23.630 with Oanda?". 3 00:23.830 --> 00:30.200 Or sometimes people can't open an account with OANDA because it doesn't operate in all the countries. 4 00:30.310 --> 00:34.900 So students ask me: "Can I use another broker?". 5 00:35.020 --> 00:41.260 Of course you can use the broker that you prefer. If you already have one and you're doing fine, 6 00:41.260 --> 00:42.240 stick with it. 7 00:42.250 --> 00:49.210 There's no reason to change your broker. Anyway, in my beginners' course on Forex trading, I created a 8 00:49.210 --> 00:52.910 lecture to suggest some alternatives to OANDA. 9 00:53.110 --> 00:59.200 I'm going to share part of that video here because I think it can be helpful for you. 10 01:00.070 --> 01:05.240 The best thing to do in this case is to use a website that I have already mentioned: 11 01:05.440 --> 01:08.150 forexpeacearmy.com. 12 01:08.470 --> 01:14.920 You can use this website to check all the reviews of other users but you can also use it as a tool 13 01:14.920 --> 01:19.190 a tool to create a list of favorite brokers that you may want to try. 14 01:19.210 --> 01:25.720 Here I am on the home page. If you click on reviews, you will have a page like this, where you can select 15 01:25.780 --> 01:31.230 all the filters that you want to apply to have a list of brokers to consult. 16 01:31.330 --> 01:37.470 For example, I want to see only Forex brokers, so I'm going to apply this filter. Then, 17 01:37.510 --> 01:44.380 I don't really mind the about tags but maybe you want a broker that has the MetaTrader 4, for instance, 18 01:44.650 --> 01:46.900 so you can click on it. 19 01:46.930 --> 01:48.650 Here we have more filters, 20 01:48.650 --> 01:50.230 I'm not going to select them. 21 01:50.260 --> 01:52.470 Then we have the rating. 22 01:52.480 --> 02:00.130 I'm going to select from 2 to 5 stars because there are some good brokers that have 2.7 23 02:00.130 --> 02:01.210 or 2.8. 24 02:01.360 --> 02:07.510 Sometimes people approach Forex without any kind of knowledge or experience, 25 02:07.540 --> 02:10.490 they lose money and they blame the broker. 26 02:10.510 --> 02:14.620 So I don't want to consider only Five-Star brokers. 27 02:14.620 --> 02:18.230 I want to have the chance to evaluate some other brokers. 28 02:18.240 --> 02:24.600 Let's say that I'm not going to consider anything under 2.5. 29 02:24.700 --> 02:31.260 So, as you can see, it is quite easy to set all the filters and create a list of brokers to consider. 30 02:31.420 --> 02:33.810 You can also browse more filters. 31 02:33.830 --> 02:40.660 I'm not really interested in these two, so I'm not going to select them. After this, you can click on apply 32 02:40.660 --> 02:45.930 filters and now you have your list of brokers based on what you're looking for. 33 02:46.120 --> 02:52.720 The first three will probably be advertisements, as you can see from the small orange box with AD 34 02:52.730 --> 03:00.110 in it. Then, if you scroll down, you will find the brokers that satisfy the conditions that you have set. 35 03:00.190 --> 03:08.280 I would recommend to have a look at brokers that have at least 40-50 reviews like this one, AccentForex.com 36 03:08.280 --> 03:09.740 . 37 03:09.910 --> 03:11.850 So you have many options here. 38 03:11.860 --> 03:17.470 Make sure that you don't rely only on what other users say on Forex Peace Army. 39 03:17.500 --> 03:23.300 You also need to check all the other factors that I have indicated to choose a great broker. 40 03:23.320 --> 03:28.540 First of all, the regulation. That's pretty much about Forex Peace Army 41 03:28.560 --> 03:31.310 I have also selected other three brokers that 42 03:31.390 --> 03:37.690 you may want to check if you can't or just don't want to open an account with OANDA. The first one 43 03:37.690 --> 03:40.000 is Interactive Brokers. 44 03:40.000 --> 03:46.360 I have to admit that I have never tried this broker but I will, because I particularly like the fact 45 03:46.360 --> 03:50.980 that it has all the regulations and the reviews are not so bad. 46 03:51.190 --> 03:59.370 Also, many traders that ask me for an alternative to OANDA are from Asia, especially India or East Asia anyway. 47 03:59.390 --> 04:06.870 If you scroll down you can see that this broker has many branches and some of them are in Asia. 48 04:07.120 --> 04:14.160 The headquarter is in the United States and you can check all the details and authorization. Then there's 49 04:14.170 --> 04:23.830 a branch in Canada, another one in Australia, another one in U.K. Then in India, Japan and Hong Kong 50 04:23.860 --> 04:24.880 as well. 51 04:24.880 --> 04:33.660 So it is definitely an interesting broker and a valid alternative to OANDA. Next broker that I have chosen 52 04:33.650 --> 04:41.110 is Blackbull Markets. The best quality that this broker has is the transparency. All the information 53 04:41.140 --> 04:43.050 are available on the website, 54 04:43.060 --> 04:45.820 you just need to find what you're looking for. 55 04:45.820 --> 04:50.600 I usually check the company first and then all the other information. 56 04:50.740 --> 04:57.460 If you scroll down you can find all the details about the legal address, the authorization and other 57 04:57.460 --> 04:58.160 things. 58 04:58.270 --> 05:01.980 So I can see that this broker is in New Zealand. 59 05:01.990 --> 05:05.620 But it also has a branch in United Kingdom. 60 05:05.740 --> 05:13.830 Once again, traders from Hong Kong or China or whoever can speak Chinese will be happy because this broker 61 05:13.920 --> 05:16.600 also has a Chinese version. 62 05:16.980 --> 05:17.600 Here we go. 63 05:17.610 --> 05:21.050 Let's wait for the page to load. 64 05:21.210 --> 05:22.790 And here it is 65 05:22.790 --> 05:24.460 the Chinese version. 66 05:24.670 --> 05:32.160 Well, not that I can understand something. Last broker is ATC brokers. 67 05:32.370 --> 05:35.730 This is one of the best brokers I have ever seen. 68 05:35.730 --> 05:38.300 It was my favorite broker years ago, 69 05:38.400 --> 05:42.530 then it had some problems, especially with American users, 70 05:42.660 --> 05:48.500 but it came back stronger than before and it is again one of my favorite brokers. 71 05:48.750 --> 05:51.380 I also have an account with ATC. 72 05:51.480 --> 05:56.380 You can have a look at the home page to find some important information. 73 05:56.490 --> 05:58.880 The spreads are very very low. 74 05:58.950 --> 06:06.720 Then if you scroll down you can see that they are regulated by the NFA and, once again, if you want to 75 06:06.720 --> 06:13.920 have a look at the legal address and other regulation, you need to go at the bottom of the homepage and you 76 06:13.920 --> 06:20.340 will see that it is an American broker and they also have a branch of United Kingdom and many other 77 06:20.340 --> 06:21.380 things. 78 06:21.720 --> 06:26.840 OK, so now you have three valid alternatives to OANDA 79 06:27.000 --> 06:31.890 and you also know how to use Forex Peace Army to look for a good broker.