How to Choose a Forex Broker?

Interesting...

Try to gather as much information about the potential choice as you can. Use forexpeacearmy, forexfactory, babypips and similar reliable sources to find genuine feedback about brokers.

be careful with feedback on such pages! i can tell you that many brokers have marketing people who login with different names to post fake reviews!

be careful with feedback on such pages! i can tell you that many brokers have marketing people who login with different names to post fake reviews!

That's a real problem, a lot of false positives and false negatives reviews out there.

Go with 1. regulation

2. trading costs

3. try a broker out with smaller deposit first. See how everything works, deposits, withdrawals, trade execution, customer support etc...

4. no need to put all your eggs in one basket ;)

I choose forex broker differently. First I make sure they are regulated and offer MT4 to cross platforms (for windows mac, andoird, ios) as MT4 is my favorite.

And then I make sure they have their server location to nearest location of mine for quick execution. If the broker has too many account types, I ignore them. Must have reasonable spread with majors and cross pairs.

Big brokers like FxPro, Pepperstone has wider spread to cross paris, FXCM does not allow hedging. And take more time to withdraw due to big waiting list. I am trading with Hanseatic broker for last 2 years and overall performance is not bad. Though I often had to email them if I face any issue as their live support can’t address my issue when I asked them server related question.

Due to enormous competition between Forex broker, they offer different features and advantages. However, choosing a broker is not easy. In my opinion the most important thing that you should consider is your Broker's reputation.

I think the most important thing is: regulation, year of fondation and trading conditions. Try brocker's demo account, chat with support to find out how they are responsive and competent. Reviews and ratings not always are true. Edited March 15, 2017 by JustForex Analysis

I agree with you! Unfortunately brokers are often pay for first places in ratings((

I completely believe that till we locate brokers offering freebies or bonuses, it is going to be too common to get brokers manipulating things to make it harder for us to make profits. So if we want to get rid of this issue for once and all then we need to look for genuine broker. I am joined under FP Markets, as they are licensed by ASIC and are servicing since last 11/12 years with having over million client base, it’s absolutely fantastic working with them.

As for me, the most important aspect of choosing broker is reliability. It`s better to choose old broker, who are on market for 5 years or more.

The license is very important, too. They say, that the most reliable brokers have licenses from Europe, USA and Australia. They have the most strict regulation.

On the other hand, there are brokers with licenses from Panama, Hong Kong, Mauritius, Belize, Seychelles that are considered not as good as Auropean ones. But it still better, that no license at all. And it doesn`t really mean, that they are poorly regulated. My broker has Belize license and I fully satisfied with the service and conditions.

Sometimes, people consciously choose brokers with less strict regulation, as they usually have more profitable trading conditions.

After you`ve found some brokers, who are reliable, then you should just choose one with the most proper trading conditions for you (low spreads, leverage size, type of execution etc.)

We got to be extremely selective when it comes to choosing of broker, if we join up with wrong company then we could really struggle badly, therefore, it is absolutely must to have good and reliable broker. This is where I only operate with OctaFX which is arguably the best of the best with having excellent reputation winning 20 awards in just 6 years and are also licensed by FCA, so it is so pleasing working with them and keeps me comfortable.

1 Safety (for example, a company has been working in the market for a long time)

2 Good licenses

3 Withdrawal of any amounts

4 Market accounts (ECN.STP)

5 Good reputation

 

Almost all of this list can be easily done with the help of the right PR, a large advertising budget and positive feedback from non-existent users. As in my opinion, there is only one option - you open an account, check the quality of the broker's work, after a time you deduce what you have earned. If there were no problems, you can work further. All.

Abanyak will certainly be a consideration in choosing a broker, trader each have their respective criteria, but will usually be the same in the thought of it, such as spreads, leverage, minimal regulation, deposit and other services

A license for brokerage activities issued in any offshore company does not guarantee anything to you. I can register a firm for $ 2000 somewhere in Belize at any time, and get a license, and you will not get any guarantees from it.

Choose a broker usually seen from the regulation, the number of owned facilities as well as the existence of a Security Fund could become a convenient trader, speed of execution and the education given to the broker as there is in the FXB trading

I am newb too Edited September 1, 2017 by likeamad

You need to be very sensible with which broker you are picking, as in long run that is the most crucial aspect for anyone. If our broker is good and reliable then we will always do well and achieve greater results. I do it all confidently thanks to FreshForex, who are highly rated and have excellent service including 101% Tradable Deposit Bonus and currently, there is $200 Welcome bonus as well, I really love it.

For me the most important is that the broker is cheap, and that allow forex rebate without any limitations.

Choose the broker that meets your needs as a trader. It was also my dilemma before. I had to make a lot of research and had to ask recommendations from my friends. I ended up trading with FreshForex. I started with a demo account. It lasted about 2 months. After that I went live. There were nerves of course cos I was trading with real money. But I just had to go with the flow and apply every thing I learned. Live trading with FreshForex is also the same as trading with their demo. No delays, my stops are hit in time. No crashing of platform, and very quick withdrawal.

We need to be extremely careful with joining up any broker. I made mistake of joining with brokers like Instaforex, but I have learned from that. It is vital to choose the right option in order to really do well and make money.

How to Choose a Forex Broker ? It's very simple. Don't choose.:)

How to Choose a Forex Broker ? It's very simple. Don't choose.:)

 

Yeah don't trade, don't risk, don't live.

 

Or simply buy bitcoins and forget for 10 years. Something will happen then maybe you will pull winning lottery ticket.

The reputation and regulations are very important

También, es fundamental conocer si el bróker está regulado y que organismo supervisor es el encargado de controlar su actividad.

If a question how to choose a broker worries you, you must have already had some bad experience. This is where you should start. I mean the things that you didn't like about him more. for example, if that was a bad platform, try to find a broker with a good one. Just don't open real accounts at try the start, try demo and cent accounts.