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Choosing the Right Broker
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BenNathanFX

Member Since Sep 06, 2013  137 posts Ben Nathan (BenNathanFX) Jan 13 2016 at 11:26
With the multitude of scam brokers and bogus reviews out there finding a broker is mega hard, or at least mega confusing, so I created a video to go through the steps I take when looking at a new broker - these can be applied to any broker you look at so I hope this helps some people.

https://dailyforexschool.com/blog/blog/5-steps-to-choosing-the-right-broker


HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Jan 21 2016 at 11:08
I watched your video and I agree with everything you say. I wish there had been someone to explain all this to me back when I was a newbie, I would've avoided some very unpleasant mistakes. I would also add to that people should probably check whether their broker provides a negative balance protection, i.e. the broker wouldn't go after the a client if their account incurs a deficit claiming that they owe them money, like it happened with some people and brokers during the EUR/CHF drama last year. There's a bunch of such brokers listed here (https://www.forexbrokerz.com/page/forex-brokers-negative-balance-protection) and I am sure they're not the only ones.

dianajs

Member Since Dec 09, 2015  823 posts dianajs Feb 01 2016 at 07:22
mlawson71 posted:
I watched your video and I agree with everything you say. I wish there had been someone to explain all this to me back when I was a newbie, I would've avoided some very unpleasant mistakes. I would also add to that people should probably check whether their broker provides a negative balance protection, i.e. the broker wouldn't go after the a client if their account incurs a deficit claiming that they owe them money, like it happened with some people and brokers during the EUR/CHF drama last year. There's a bunch of such brokers listed here (https://www.forexbrokerz.com/page/forex-brokers-negative-balance-protection) and I am sure they're not the only ones.


I've always thought that was something all brokers did automatically, it has never even occurred to me to even check about it. In retrospect must've lucked out with previous brokers.

dbdan

Member Since May 19, 2015  2 posts dbdan Feb 23 2016 at 07:29
Thanks Ben for doing the research.

WilsonWang

Member Since Mar 14, 2016  11 posts Wilson (WilsonWang) Mar 14 2016 at 07:39
Awesome tips, very useful! Thanks for sharing Ben.

rey_shooter

Member Since Jan 18, 2010  17 posts Ganapati FX (rey_shooter) May 13 2016 at 08:53
Nice thread dude...it will be so usefully grin

Candles always right
rob559

Member Since Feb 11, 2011  1916 posts rob559 May 13 2016 at 16:41
i think that the best way i to ask experienced traders whom have been trading for a long period at certain brokers the name their favorites ones,that would be the most certain way to get a real picure

AlviTrevisani

Member Since Dec 07, 2017  4 posts AlviTrevisani Dec 10 2017 at 08:22
What do you think about Exness? I have read is a good broker. But I want to be more informed about it

Irnest

Member Since Nov 21, 2017  33 posts Irnest Goodman (Irnest) Dec 12 2017 at 07:56
BenNathanFX posted:
With the multitude of scam brokers and bogus reviews out there finding a broker is mega hard, or at least mega confusing, so I created a video to go through the steps I take when looking at a new broker - these can be applied to any broker you look at so I hope this helps some people.

https://dailyforexschool.com/blog/blog/5-steps-to-choosing-the-right-broker



I clicked on your link and did not find the video. Maybe the link does not work anymore?

TiffanyK

Member Since Feb 12, 2016  427 posts Tiffany (TiffanyK) Dec 13 2017 at 15:28
The video is no longer available - maybe someone can upload it again?

Accept the loss as experience
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