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Broker choice
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mariav

Member Since Aug 08, 2014  115 posts mariav Aug 08 2014 at 19:11
Greifell posted:
I'm also new and I've started with YoutradeFX which was the biggest mistake I've ever done in my life, AVOID them. Now I'm using Alpari and I'm quite happy, so far no major problems. Hope it helps!

why it was a mistake? I heard they are not bad slim

Greifell

Member Since Aug 06, 2014  2 posts Greifell Aug 09 2014 at 07:56
Ha ha.. Where did you hear it?? Now they've confirmed them as scam. I'm glad that I've opened an account with only U$$1000 with them... I've tried to withdrawal as soon I read some bad reviews but I guess was too late. I've request the withdrawal 2 months ago and still nothing. Now they don't reply my e-mails and Skype also. I've reported them to ASIC and they are taking further investigations, but if you have a look at forexpeacearmy website there is hundreds and hundreds of people in the same situation. So my advice is to keep away from them. ;)

jotekfinance

Member Since Jun 09, 2014  138 posts jotekfinance Aug 09 2014 at 08:00
Yeah, tell us Greifell

mariav

Member Since Aug 08, 2014  115 posts mariav Sep 08 2014 at 11:42
Greifell posted:
Ha ha.. Where did you hear it?? Now they've confirmed them as scam. I'm glad that I've opened an account with only U$$1000 with them... I've tried to withdrawal as soon I read some bad reviews but I guess was too late. I've request the withdrawal 2 months ago and still nothing. Now they don't reply my e-mails and Skype also. I've reported them to ASIC and they are taking further investigations, but if you have a look at forexpeacearmy website there is hundreds and hundreds of people in the same situation. So my advice is to keep away from them. ;)


I've read about them in some forum. Actually on each broker you may find as bad reviews as a good one. Not all brokers who have bad reviews are scammers since they may have competitors as well as not all who have good one - are really good since they may have SMM managers. That is why I am not always trust to reviews and would like to know real peoples position. Now I know that I do not want to deposit with them. Thank you for your honest explanation.smiley

HenritteC

Member Since Dec 22, 2016  13 posts HenritteC Jan 11 at 08:23
Eightbitpwny posted:
All in all I would like to know if you have any input on how to chose the right broker. Obviously I am interested in the best trade prices and reliability in terms of withdrawl and trading quality.
Thank you for reading and helping


Hello, you can check these links for a brokers.

http://best10fxbrokers.dk/?sosuid=377821cd-4ef4-4891-9e81-ae4dde87f9f6
http://www.best10cfdbrokers.com/itrader-cfd-broker-review/?f=280&pl=2
https://www.fxempire.com/brokers/itrader/review

And I am with ITRADER.com for now.

xgavinc

Member Since May 11, 2011  228 posts xgavinc Jan 11 at 14:56
Go to Reviews -> Brokers

Make sure to read the broker trading T's & C's when you go live, that is what catches most people when withdrawing funds (eg. scalping at broker where scalping is not allowed, arbitrage trading where it's not allowed, etc)... the platform allows it, but when it comes time to withdraw an audit on your account is done first, if you breached the terms (even once), it's an uphill battle.

For every loss there should be at least an equal and opposite profit.
growthera

Member Since Feb 18, 2014  85 posts growthera Jan 13 at 09:07
Hi, before committing more serious amounts of money to a broker, I usually start small, and then make some small withdrawels to see if the withdrawel process is running smoothly. It is no guarantee, but apart from reading about brokers and exchanging experiences, I'm not sure what I can do more to choose a broker. I don't necessarily look for the lowest spread etc.., trustworthyness is more important to me.

mlawson71

Member Since Dec 11, 2015  845 posts mlawson71 Jan 16 at 11:17
When you’re picking a new broker you have to be exceedingly careful about making sure they’re legitimate. Always check warnings from regulators about them (https://smnweekly.com/warnings/). Always double-check any information the broker gives you about themselves from other sources, especially regulators. Never trust blindly.

mr_cenk

Member Since Mar 14, 2016  44 posts Kartal (mr_cenk) Jan 22 at 07:47
Remember that regulation is one thing but the permission it grants is another. Would you like to trade against your broker (if a broker is allowed to deal on own desk)? If you have that big amount, maybe test the waters first with some small investment. The due diligence is your responsibility after all.

mlawson71

Member Since Dec 11, 2015  845 posts mlawson71 Jan 31 at 11:20
If you’re going to work with FCA or CySEC-regulated brokers keep in mind that they will be changing their default leverage to 1:50 due to ESMA’s guidelines (published in October 2016) that aim to maintain an environment of trust and security in the forex and binary options industries by increasing client protection. Some CySEC brokers have already begun doing that. (https://www.forexbrokerz.com/news/Exness-and-Leverate%E2%80%99s-VinciCM-set-default-leverage-to-1:50-in-line-with-CySEC%E2%80%99s-requirements ) I am assuming others will do as well.

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