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.
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6 Most Important Things to Consider When Choosing a Broker
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- 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.
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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
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.
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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.
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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.
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Originally posted by Princess Fuzzie View PostThere 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.
so it is very important to see where it is regulated, where it is based, what the service is like etc.
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Originally posted by Antje Wagner View PostSpread 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.
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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!
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.
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