6 Most Important Things to Consider When Choosing a Broker

The main thing is that broker doesn’t throw sand in the in the machine and withdraws profit. I think so. So, it should have good technical conditions: fast order execution, no slippages and etc. And withdrawal should be without any problems. For example, Freshforex isn’t a great broker, but it has these two points. So, you can try it. If you don’t like it, just find another broker.

regulation

track record

execution

withdrawal

services

transparency

 

and the list goes on and on, by doing so we narrow down the number of brokers to trade with

My personal preference when it comes to selection of the broker is to check if the company is regulated or not then the next point comes whether it’s ECN or not. I have found both of these things at my door step thanks to OctaFX broker which is a really sensational brokerage company with having 11 awards in just 4 years and that too been some of the most prestigious ones like best ECN broker and much so much else.

1. regulation: if the broker is regulated with more than one firm then better

2. segregated accounts, make sure broker separates traders account from company fund

3. platform stability: decent execution with minimal slippage

4. withdrawal: thats a given

5. active support: knowledgable to a certain extent

6. spread: decent spread not some outrageous fantasy numbers.

Great article. I have selected 1LOTSTP forex broker and this broker has all these qualities which mentioned in the article. I am very glad to trade with this broker.

 

I have never haerd about this 1LOTSTP broker. Does it still exist?

there are many things about a broker that can be learned from online forums where you can learn about the broker. You can also trader with broker where already some of your acquaintance is trading, like i ve joined liteforex as y friend was already trading there and i dont have to worry about it.

There are a lot of broker in whole world for Forex trading. We have to chose very carefully in which broker we should trade. There are some point to look at about broker such as spread, regulated or not,execution time etc.

- fuctions consistency

- regulations

- honesty

- transparency

- as long as we have a chance to earn then its good

- good reviews and feedback

 

its easy to notice a broker who is constantly trying to improve, in the end even brokers are businesses owned by someone who wants it to grow. my choice is hotforex.

There are many things that I would put down to advantage and benefits, but one of the most important things for me to see is these

 

http://i64.tinypic.com/m9murt.png

 

I am lucky to have broker like them because they have given me everything that I could ever and I really mean ever wish for, so that’s why I find it so good with them and always allow me to trade nicely.

I can’t go on with 6 things, but few things that I consider highly important is broker been regulated plus a reputed company, it’s all what I need and is one big reason why I enjoy trading with them. Right now, I am trading with OctaFX broker where I get huge benefits whether this is to do with low spreads starting from 0.1 pips, zero balance protection, 15% stop out levels plus much more, it’s just terrific and really helps me trade smoothly.

The first essential thing to look at is whether your broker is regulated or not. If you decide to collaborate with an unregulated broker, you’ll have no one to help you.

I agree with Princess Fuzzie that using a regulated broker is essential. You need to know that your money is safe.

 

1. regulation

2. spreads

3. platform (MT4)

4. deposit/withdrawal fees

5. deposit bonuses etc

6. bredth of markets

We just need to make sure we don’t be foolish in looking for regulated broker only, it’s must to have broker that’s reputed because it’s something that matters a lot. I have seen so many regulated brokers scamming, so established companies should also be looked at instead of just regulation.

There are a lot of broker in whole world for Forex trading. We have to chose very carefully in which broker we should trade. There are some point to look at about broker such as spread, regulated or not,execution time etc.

 

Spread should not be the first point to look at. what if you find a broker with a great spread, not only pubished on their page but truely providing that spread on a live account. that is good isn't it? so what if the same broker makes problems when you want to withdraw your money or if the broker screws you on trades. not that good right?

 

so it is very important to see where it is regulated, where it is based, what the service is like etc.

Spread should not be the first point to look at. what if you find a broker with a great spread, not only pubished on their page but truely providing that spread on a live account. that is good isn't it? so what if the same broker makes problems when you want to withdraw your money or if the broker screws you on trades. not that good right?

 

so it is very important to see where it is regulated, where it is based, what the service is like etc.

 

Regulation is important point you raised in your post. I would say most crucial. I try to deal with brokers which are flawless legally, I mean there is no way for them to run with your capital without getting punished. But yes spreads can be above average brokers offer but if rest of the service is excellent, then its worth to try even paying little bit more.

yeah... that's true. in Europe we (the Brokers) are punished easily also if just one trade gets slipped by fast market the clients contact the regulation. The broker then has to explain the situation.

means in a situation where indeed the broker wants to run away with whole client funds... no chance for the Broker! :D

 

unregulated? yes, they do that. i have seen that many times, heard stories from my clients about such things etc.

Then of course you can imagine why the Spread at such brokers is almost 0 ;) it is not their source of income to gain from the Spread.

Being safe is one of the most important aspects. When looking for a runner you have to be a detectivem :))

this is actually a preference and condition which is required also by financial authorities in europe. withdrawals MUST be processed within 24 hours.