Finding a reliable broker is very important, since it determines how you succeed as a trader. One thing you should carefully consider is the kind of reviews that traders have left for any particular broker. Be more keen on the negative reviews and if they are too much, flee for your life. Signing up with a regulated broker is the safest action you can take. Ensure you go through the terms and conditions in advance
Everyone's concerned points and trading strategy are different. Some people may spend time looking many others' comments and experiences on different brokers, but those aren't the real things happened to you and then it maybe turns out worry too much. Finally one should look back and the most important still rely on self investigation. For me at least regulated broker is the first step you can prevent and reduce certain potential risks.
candicesummer posted: When choosing a FOREX broker, you should always consider security, support, fees and regulations before you decide. So in order to find a regulated forex broker with a great reputation, consider these things: Where are the broker regulated FCA FSA CySEC FINRA CFTC ASIC How many years have they been in business? Have they survived bear markets, and big client losses? How much do they have in deposit guarantee? Are they holding you account deposit in a segregated bank? What support opportunities do they offer?
When you have answered these first questions, you can begin to compare spreads, fees, inactivity fees, charting software and anything else that might also be important for you as a trader. When you compare the best and regulated forex brokers you should consider: Spreads Trading fees Inactivity fees Account fees Charting software
Check out review sites such as Forex Peace Army and read reviews and you'll be able to find your answer.
Honestly, I think the only way to be sure of a broker's quality is in person. Because you can find both positive and negative information about the same company. And you can be both a happy user and a dissatisfied one. This is the reason why I never give specific recommendations on the choice of broker, because what suits me may not suit you.
The quality of a broker can only be tested in practice. First, you can try to work on a demo to evaluate the terminal and its speed, the number of assets and indicators. Secondly, you can work with small real capital to see how the broker reacts to your profit. Third, you can try to withdraw all the money you have in your account. If the broker doesn't create any problems, that's fine, you can work with bigger capital. If you get suspicious, you better not take any chances and find a better company.
All information about the broker must be publicly available, and if you have any questions, you must be given all the answers and as soon as possible. You must understand what your rights and obligations are, any inaccuracy can be a reason for you not to work with this broker.
I think that feedback from those who have already worked with this broker can be very helpful in this case, plus you can find the most interesting services that the broker provides and it will definitely help you to decide.
In my opinion, a broker should cope with two functions - to provide normal operation of the terminal and to withdraw money of its clients without problems. If the company copes with it - then everything is just fine, and if not - then draw conclusions yourself....
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.
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.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.