It's good to diversify the brokers in order to secure your funds. But it should be done only if you're in 'okayish' or 'average' relationship with existing broker.
Jun 27 2018 at 07:51
DukeMark posted:
It's good to diversify the brokers in order to secure your funds. But it should be done only if you're in 'okayish' or 'average' relationship with existing broker.
What is the need to trade with multiple brokers if i feel that my funds are totally secure with my existing brokers?
maria_taylor posted:DukeMark posted:
It's good to diversify the brokers in order to secure your funds. But it should be done only if you're in 'okayish' or 'average' relationship with existing broker.
What is the need to trade with multiple brokers if i feel that my funds are totally secure with my existing brokers?
That's exactly what I've said indirectly. It's not advisable to diversify brokers if you are surety to the moon that existing broker is secured.
Peace!
Practically in order to our trading understanding we the traders choose our trading strategies. According to me , if you want to get maximal result by your trading strategy , first of all you have make sure the proper money management approach , otherwise that’s not possible at all to make profit at all with great consistency despite of most powerful analyzing trading strategy. so, it is more important to know how to manage money in Forex trading.
Jul 04 2018 at 11:02
Mohammadi posted:
Practically in order to our trading understanding we the traders choose our trading strategies. According to me , if you want to get maximal result by your trading strategy , first of all you have make sure the proper money management approach , otherwise that’s not possible at all to make profit at all with great consistency despite of most powerful analyzing trading strategy. so, it is more important to know how to manage money in Forex trading.
Yes mate, money management is very important aspect here! By the way, may I know; how much risk do you take in your individual trade?
JamesAnderson posted:
Here I m sharing few points about how to choose the forex broker
- Check the Regulatory Agency
- Read Reviews
- Find a Convenient Broker With Good Spreads
- Commission for Broker
- Trading Platforms
- Customer Service
- Reputation
- Data Security
- Trading Style
- Account Options
Here are my criteria for a broker of my choice:
_ Regulated
_Good spreads
_DMA Broker
_Data and funds security
_Negative Balance protection and needed risk policies
_ No bonuses and markups
Accept the loss as experience
Which broker is good or not , right now it is quite difficult to make sure , because so many brokers are available and most of them are found to be scams. By the way, we can choose the regulated broker which is especially regulated by US UK or Australian. They are real regulated and always ensure security of funds with a wide range of trading technologies.
You better not to happen to resort to the risk policies of a broker. It is all nice and clean on the web site and when you have have to be covered practically it is always something unseen. Accurate risk management is everything you need..
Accept the loss as experience
Choosing the right broker is the most confusing and also the most crucial task. And I think there would be only few lucky people who successfully found a good broker in their first go.
Jul 23 2018 at 12:07
This has to be one of the most important tasks of forex trading. In order to be a profitable trader it is very important to choose the perfect broker in accordance with your trading preferences. If you want to try a broker you can test its demo account first. Or go for micro account with that broker. You can decide whether you want to stick with that broker or not based on your demo/micro experience.
