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What safety measure I need to take before choosing any forex broker?

Nov 05, 2020 at 11:59
2,767 zobrazení
59 Replies
Členem od Aug 14, 2020   40 příspěvků
Feb 25, 2021 at 12:45
Josuvaphilip posted:
What about their big trading fees, I feel they aren't suitable for all kinds of traders, especially the new ones who would be better off with a broker that requires low deposits and offers a simpler interface.
Agree with you on this. But there are many reputed brokers around that have quite low minimum deposit requirement like fxview, xm, hotforex and many more.
lovefortrading (perryjohn765)
Členem od Sep 12, 2017   238 příspěvků
Mar 02, 2021 at 06:18
first thing is regulation and broker needs to be aware for how long is the broker functioning and is it reliable or not..
Členem od Dec 22, 2020   13 příspěvků
Mar 23, 2021 at 05:07
This manual system reminds me of my trades a few weeks back. Good work with this!
Albert Zieba (Master_Z)
Členem od May 13, 2020   7 příspěvků
Jun 28, 2021 at 09:48
Searching for information on a forum with reviews will not hurt you in any way, it is always good to do it. Watch overview videos on YouTube from popular bloggers. Try to trade the minimum deposit to test the broker's conditions.
The success is mine
Členem od Feb 23, 2021   330 příspěvků
Jun 29, 2021 at 06:51
Marshalsam877 posted:
I think the most important thing to look at is the reputation of the broker. In my opinion you should only trade with big guns such as interactive brokers or schwab.
Yes. You are right. this is the most important thing.
Sar John (Sarjohn)
Členem od Dec 28, 2020   187 příspěvků
Jul 01, 2021 at 09:20
Tremblay posted:
Marshalsam877 posted:
I think the most important thing to look at is the reputation of the broker. In my opinion you should only trade with big guns such as interactive brokers or schwab.
Yes. You are right. this is the most important thing.
Sometimes you do not need to go with the reputed broker, also explore new brokers with good trading conditions and look for low spreads, low commissions and regulations also.
Suradi (FXOday)
Členem od Apr 03, 2021   470 příspěvků
Jul 04, 2021 at 22:49
I am already found my broker and work with them for more than eight years, so far so good and no problem, this company regulated in ASIC, FCA, and Cysec, namely FXOpen broker, about spread in my view also included low or competitive spread, especially pair USD included XAUUSD.
Členem od Nov 29, 2020   10 příspěvků
Sep 16, 2021 at 16:44
Speaking about safety measures, then I guess you should determine whether a potential broker a scam or not. It's kinda easy to determine, you just need to check licenses and apply to customer support. Often customer support give you the understanding that you would better stay off a broker. It replies too long and pretty rude. Scammers don't care about customer support, hence it's awful. Moreover, you have to check withdrawal and depositing process. Actually, there are no issues with depositing, while there might be some troubles with wthdrawals in case of scam. Check these things and make some conclusions.
Členem od Jul 19, 2020   751 příspěvků
Oct 05, 2021 at 06:53
First you have to see whether the broker is regulated and licensed or not. If not regulated and licensed, move to another one. Then check the facilities you want for your trading like deposit method, spreads, leverage etc.
Členem od Mar 28, 2021   617 příspěvků
Oct 05, 2021 at 14:33
First safety is regulation and license. If the broker is properly regulated and licensed, then you can go for it if other things match your requirements.
Členem od Jul 19, 2020   788 příspěvků
Oct 06, 2021 at 02:20
No matter which broker I go to, it must be regulated.
Členem od Jul 01, 2019   30 příspěvků
Oct 14, 2021 at 18:15
There are lots of measures which you need to choose a broker in order to trade safely. For example, you ought to check all the information about your broker mostly because you need to be convinced that everything is okay with and it's not a scammer. There are several ways how to do it. Forstly, you have to check all the information concerning regulations,licenses and certifications. Secondly, you should check client service from a certain broker, how fast they reply, how polite are they and something liek that. Finally, you should check that there are no issues with withdrawing and depositing money.
Členem od Jul 19, 2020   788 příspěvků
Nov 07, 2021 at 00:48
You need to choose a regulated broker to build loyalty. And it would be better if the spread of that broker is less.
Členem od Dec 28, 2019   25 příspěvků
Nov 11, 2021 at 08:26
The main safety measure is to convince that your broker might be considered as a reliable one. I believe that there are sveral ways how to determine a proper broker. For example, I always chekc three main things in my opinion, which can determine whether a broker is reliable or not. These things are the work of customer support, processes of withdrawing and depositing money, and the presence of regulations and certifications. I think you have to check these things before pick a particular broker as your primary, maybe it isn't the same as you got used to think.
Chelsea Blacks (blackChelsea)
Členem od Jan 22, 2021   125 příspěvků
Nov 11, 2021 at 11:57
I always choose a broker which is registered with a strong financial regulatory body. I have started with pepperstone and traded for 1 year but later on switched to fxview though both are well regulated but latter one is pretty light on commissions and offer tight spreads.
Členem od Jul 23, 2020   759 příspěvků
Jan 04, 2022 at 07:19
A good broker will always be consistent with its services and never cheat on its customers.
RVD (psiho_87)
Členem od Apr 28, 2016   2 příspěvků
Jan 04, 2022 at 17:54
if you trade up to $ 1000, then by and large there is no difference through which broker to trade, the main thing is to like the conditions.

and if the amount is greater, I recommend first of all to consider brokers licensed in your country
Členem od Jul 23, 2020   869 příspěvků
Jan 06, 2022 at 04:22
It's an important decision to pick the correct broker as choosing the wrong one may cost you a lot of money.
Členem od Oct 30, 2019   24 příspěvků
Jan 13, 2022 at 19:10
The main thing is to be convinced that your broker can be considered as trustowrthy one. You have to check all he regulations, certifications and licenses in order to be sure that your broker execute its duties in accordance with special regulator. Moreover, you should check the system of depositing and withdrawing money. Sometimes unhonest brokers cheat on their traders because of this system. They allow traders to deposit money but they don't let traders to withdraw earned sums. There are plenty of peculiarities actually. In addition, you can check reviews in the internet about particular brokers in order to understand whether this broker recommended itself in trading community as a reliable one, or not.
HeavenLeighGill (HeavLeighGill26)
Členem od Aug 05, 2021   401 příspěvků
May 20, 2022 at 16:11
Always read reviews from other real traders so you can get an idea of things go as far as customer support, withdrawing, and any red flags that may come up. Look out for posts about withdrawal issues. Also, remember that some traders may be angry with the broker when it was actually their fault they lost money, so I try to find multiple comments about the same problem.
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