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Chris Cammack is Head of Content at the FxScouts Group 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 since 2012 and has a preference for the GBP/USD and the cTrader platform.
He also hosts the weekly podcast Let’s Talk Forex alongside Alison Heyerdahl, covering topics such as technical analysis, fundamental analysis, and trading psychology. His written work on macro-economics, the Forex industry and other factors affecting Forex trading and traders are frequently published in industry news outlets as well as traditional media.
Chris Cammack April 20, 2020 10:30 AM
For beginner traders who want low minimum deposits and prefer to trade in smaller trade sizes, Weltrade may be a tempting option. However, ongoing trading costs are higher than most other brokers, and Weltrade is not regulated, so trading security and safety cannot be verified. An STP broker, Weltrade offers trading on a small range of tradable instruments, including 37 forex pairs, 2 commodities, 4 metals, and 15 cryptocurrencies, which is severely limited compared to other brokers. Weltrade offers five live accounts and an unlimited demo account. Although the minimum deposit on its entry-level account is low at [fxs-broker-property identifier="deposit"] [fxs-broker-property identifier="currency"], trading costs are high, with spreads averaging at 1.5 pips on the EUR/USD. Spreads tighten to 0.5 pips on the Pro Account, but this is in exchange for a minimum deposit requirement of 500 [fxs-broker-property identifier="currency"]. Additionally, the trading costs on its Zulutrade Account are exorbitantly high. Weltrade offers full support for MetaTrader4 and its successor, MetaTrader 5, but offers virtually no trading tools. It also lacks educational and market analysis materials, forcing traders to self-educate elsewhere.
Chris Cammack April 7, 2020 02:31 PM
A well-regulated broker, ThinkMarkets appeals to experienced traders who value a broad range of tradable assets and an extensive suite of trading tools, though trading costs are higher than average on its entry-level account. ThinkMarkets offers trading on a wider range of tradable assets than other brokers, including 46 Forex pairs, 27 indices, 13 commodities, 1541 share CFDs, and 20 crypto pairs. The ThinkMarkets Standard Account, with no minimum deposit requirement, has high trading costs compared to other brokers, at 12 USD per lot EUR/USD. On the other hand, the 500 USD minimum deposit ThinkZero account delivers better pricing at 8 USD per lot EUR/USD, which may interest more experienced traders. ThinkMarkets offers support for the MT4, MT5, and inhouse ThinkTrader platforms, and traders have access to some of the best trading tools in the industry, including Autochartist, Trading Central, Zulutrade, and a VPS hosting service. AutoChartist and Trading Central are offered free of charge to account holders. The Zulutrade copy-trading service requires a subscription of 30 USD per month, and the VPS service has a subscription fee unless traders trade over 15 lots per month. The ThinkMarkets education package targets all traders levels and is a good place to start for beginners. Daily market commentary is missing from the website, but real-time news from FX Wire Pro is integrated into the ThinkTrader platform, along with advanced order management, risk management tools, charts, and more.
Chris Cammack April 5, 2020 02:31 PM
FXScouts does NOT recommend [fxs-broker-property identifier="display_name"] due to insufficient regulation. We suggest that you find an alternative regulated broker governed by processes designed to protect your funds. Supplying customers with MT4, but minimal educational material and regulatory oversight over their accounts, there are more attractive places for beginners to start than [fxs-broker-property identifier="display_name"]. A lack of transparency in areas of execution and commissions charged means trading costs could not be estimated and confirmed. At the same time withdrawals all carry a 50 USD administration fee.
Chris Cammack March 31, 2020 08:34 AM
Established in 2010, FXCC appeals to MT4 traders looking for excellent trading conditions on a single live account. However, FXCC offers a limited range of tradable instruments compared to its peers. FXCC offers a single live commission-free account with no minimum deposit requirements and spreads that average at [fxs-broker-property identifier="eur_usd_spread_smallest_account"] pips (EUR/USD), which is tighter than other brokers. Trading platform choice is limited to MT4 but is available on multiple devices as well as major web browsers. FXCC also lacks trading tools, but free VPS hosting is offered for traders who maintain an account balance of 2500 USD or trade over 30 lots per month. Apart from the wide selection of Forex pairs (70+), FXCC has a disappointing range of CFDs. This is mostly down to the fact that trading is only available on the MT4 platform. It also provides a limited range of educational and market analysis materials and has a demo account that expires in 30 days, making it a poor choice for beginner traders.
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