IvanMelnik posted: 1 Regulation 2 Trading conditions 3 Online reviews I look for all these things while choosing a broker.
Agreed. Here are things I look for when selecting a broker: Check if the broker is regulated Get all the account details and check the leverage and margin Pay close attention to commissions and spreads Review the initial deposit amount Check if withdrawals and payments are timely or fast Trading platforms available Customer support Number and types of currency pairs offered
That’s very precise but I get the idea. Thanks everyone.
A broker is the most important element for trading in the forex market. You can choose a reliable and regulated broker by researching the market properly. You can visit those websites that provide broker reviews on their sites.
EbonyJones posted: A broker is the most important element for trading in the forex market. You can choose a reliable and regulated broker by researching the market properly. You can visit those websites that provide broker reviews on their sites.
I am wondering how genuine such reviews are, I heard from somewhere that they are actually paid for. Is it true?
In initial days when you are starting in the field of trade then you can start with the regulated brokers to save yourself from fraud. These regulations are not guarantees which will give you profits but you will at least know whom to approach in case of fraud.
I consider slippage to be a very important factor. I know that some sort of slippage is bound to happen, but many fractions of a second of slippage is only acceptable. The trading environment that I get with the brokers I am using right now is fine till now. I have noticed that big slippage occurs on any platform when an important announcement is made. I avoid news trading.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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