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Chris Cammack is Head of Content at Schlossbrink and is responsible for ensuring our content across all sites meets the exacting standards of quality and clarity that our readers expect; this includes shaping our editorial guidelines to fit the ever-changing world of online Forex trading and ensuring all broker reviews adhere to our strict review process.
Chris joined the company in 2019 after 10 years’ experience in research, editorial and design for political and financial publications. This background has given him a deep knowledge of international financial markets and the geo-politics that affects them. With a keen eye for editing and a voracious appetite for financial and political current affairs, Chris bring a publisher’s sense of precision and accuracy to all the content we produce. Chris has been trading Forex CFDs since 2012 and has a preference for cTrader and ECN brokers; he has found the GBP/USD pair particularly fascinating over the last few years.
Chris Cammack June 13, 2019 08:17 AM
Octa is a good low-cost broker, but it has a few drawbacks. On the one hand, it has very low trading costs, charges no fees for deposits and withdrawals, and offers a great copy trading service — though this is not available on iOS mobile devices. On the other hand, Octa onboard Nigerian traders through its Comoros Union-based entity, which has few regulatory protections. The range of instruments available to trade is also slightly limited compared to other brokers, with 52 Forex pairs, 5 commodities, 10 indices and 150 equities. Looking past these issues, you will find an excellent low-cost broker: Octa offers three swap-free accounts with minimum deposits of 20 USD, a slick mobile app, and a good range of trading tools. It also heavily promotes its wide range of bonuses and can offer leverage of 1:1000 on Forex pairs.
Chris Cammack May 8, 2019 08:34 AM
FxScouts does NOT recommend IQ Option due to insufficient regulation. IQ Option appeals to beginners with its unique social trading platform, low minimum deposits, and low trading costs. However, IQ option's non-trading fees are high, and its global entity is unregulated. IQ Option offers one live commission-free account with competitive spreads (starting at [fxs-broker-property identifier="eur_usd_spread_smallest_account"] pips on the EUR/USD) and a minimum deposit of only [fxs-broker-property identifier="deposit"] [fxs-broker-property identifier="currency"]. However, while deposits are free, IQ Option charges unreasonably high withdrawal fees and an inactivity fee of 10 EUR (or equivalent) per month after 90 days of inactivity. IQ Option’s global entity is registered in Antigua and Barbuda. IQ Option provides traders with negative balance protection. IQ Option provides little in the way of market research or educational materials, forcing beginners to self-educate elsewhere.
Chris Cammack May 7, 2019 07:46 PM
Note: Plus500 no longer accepts clients from Nigeria. This review is for informational purposes only. Founded in 2008, Plus500 is a well-regulated market maker that is publicly traded on the London Stock Exchange. It offers a wider range of tradable instruments than is available at other CFD providers, including over 70 Forex pairs, cryptocurrencies, indices, commodities, shares, options, and ETFs. Although Plus500 only offers one live account, which is limited compared to other CFD providers, its trading costs are average, with spreads starting at 0.8 pips on the EUR/USD, no commissions, and a minimum deposit requirement of 1500 ZAR (100 USD). Additionally, unlike other CFD providers that provide support for a variety of trading platforms - such as MT4, MT5, or cTrader - Plus500 only offers support for its proprietary platform. The platform is web-based with no need for any downloads or setup, making it a good choice for beginner traders, but Plus500 does not offer hedging, scalping, or copy trading. Plus500’s education and market analysis materials are virtually non-existent, making it a poor choice for beginner traders, but its award-winning customer service is available 24/7, which is exceptional for an industry where trading is usually offered 24/5.