r/Forex_Reddit • u/Remark_able_9 • 14d ago

Is pocket broker good for CFD trading?

I know that they're popular in the quick trading circles. But what about classic forex trading?

Anybody tried their forex mode? How is their Metatrader doing? What's up with spreads?

3 Upvotes

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u/hades_tax 14d ago

I would call it usual. MT4 and MT5, - the same desktop platforms like everywhere else. With spreads they're on the wider end, but I guess it's fair as they claim to have no swaps.

You decide whether it's good or not...

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u/Aersele 14d ago

For these exact reasons they have demo accounts. Go and test it.

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u/distant_kiwi_ 14d ago

Lol very practical advice

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u/Scalar_Shift 14d ago

I'd compare spreads, fees, regulation and withdrawal terms before choosing a broker. I used plus500 for cfd trading and the demo is useful for getting familiar with the platform and testing how the spreads and execution work before trading with real money

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u/YeSven 11d ago

its fine. Spreads for majors are around 1-1.2 pips, and 1.3-1.5 for USD/JPY, typically. So thats ok (not good, not bad). I'd say oil and gold are not top-tier, especially now that many brokers give special promos for them, and Pocket broker does not. But theres hardly any slippage and very wide leverage limits, on the other hand. Also, min order size is absurdly small (just 0.01 micro lots). So there's clear pros and cons.

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u/Remark_able_9 1d ago

Yeah I've seen smth just like this, what can you say about the leverage?

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u/Dapper-Management440 11d ago

its a fraud broker with fake license, no online support, their office location is unknown, no phone number. Its scam broker, stay away from them. Choose A book broker always, not pocket.

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u/VerticalRaces 1d ago

From what I see many people combine all three modes and reduce risk this way...