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Choosing the Right Broker

Ben Nathan (BenNathanFX)
Jan 13 2016 at 11:26
137 posts
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
Jan 21 2016 at 11:08
1487 posts
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
Feb 01 2016 at 07:22
823 posts
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
Feb 23 2016 at 07:29
2 posts
Thanks Ben for doing the research.

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

Ganapati FX (rey_shooter)
May 13 2016 at 08:53
17 posts
Nice thread dude...it will be so usefully 😀

Candles always right
rob559
May 13 2016 at 16:41
1916 posts
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
Dec 10 2017 at 08:22
4 posts
What do you think about Exness? I have read is a good broker. But I want to be more informed about it

Irnest Goodman (Irnest)
Dec 12 2017 at 07:56
33 posts
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?

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

Accept the loss as experience
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