Choosing a Forex Broker

[Raquitoka]

I wanted to invest in Easy Markets, but I doubted whether it was worth it. I started looking for reviews of traders on it and came across Bytechats where I learned a lot about this Forex broker. After reading this I had no desire to invest my money there.

 

[Guest AaronDalot]

What are the main features and tools a beginner trader should look for in a broker before choosing it?

[Guest William Gold]

 

Hi, AaronDalot, I have a good article in which I described main features for trading on Bytechats

This is my article https://bytechats.info/blogs/how-to-choose-a-reliable-forex-broker-for-trading/

[thiago]

What are the main features and tools a beginner trader should look for in a broker before choosing it?

 

Depend on the country which you live in, you'll have specific options. I just have these things in my mind rn.

 

Regulations, being ECN, their trading paltform, payment and withdrawal methods

[Guest DenverPhilips]

Selecting a broker that are reliable, regulated by ASIC, CYSEC with a good reputation in the forex market is a good choice.

Select broker that offer good trading conditions like tighter spreads in majorly liquid currency pairs that will prove profitable in the long run.

[Guest machete]

Looks good but I would look for something more reliable and that offers wide asset choice and plenty of liquidity at low cost. Hotforex and Tickmill is my current brokers after extensive test of various FX venues.

[Guest Suzsi]

What are the main factors a beginner trader should look for in a broker before trading live? Because I'm a beginner currently trading with a demo account and looking to go live but have not chosen the right broker yet.

[samesheet]

What are the main features and tools a beginner trader should look for in a broker before choosing it?

 

Well you have to check regulation and make sure that it's at least CySEC (FCA or ASIC much better). Also you will probably need to spend some money to test their execution, frequency of slippage, especially during times of elevated volatility. Last but not least it is also important to assess quality of customer support and their ability to resolve uncommon client issues.

[⭐ teeter]

Can anyone recommend a reliable independent resource that rates/reviews brokers?

[⭐ Caoln]

Forex brokers are almost all market makers

[binaryowner]

On 9/15/2021 at 10:18 AM, Raquitoka said:

I wanted to invest in Easy Markets, but I doubted whether it was worth it. I started looking for reviews of traders on it and came across Bytechats where I learned a lot about this Forex broker. After reading this I had no desire to invest my money there.

 

Rather to look at more trusted trading venues like HFM, etc., since they are regulated by UK's FCA

[bluemac]

On 5/2/2024 at 9:20 AM, Caoln said:

Forex brokers are almost all market makers

I can't say that every broker is a market maker which trade against us however they provide us with all the required technology needed for initiating trades and make money so it is up to us to verify the broker and test them before depositing any money with them. This can be easily done downloading their demo account for testing the processes since demo accounts are given for free by the brokers.