Nov 23 2020 at 19:08
Picking a broker is not easy, and most retail traders only spend a few minutes picking one, mostly based on glossy advertising or 1000:1 leverage.
Do your due dilligence, this link is a good start:
https://www.cftc.gov/sites/default/files/2020-09/01-%20FCM%20Webpage%20Update%20-%20September%202020.pdf
If the broker you are thinking about does not list its capital with the CFTC, would you really want to deposit your funds with them? Check with the local regulator at least for their capital requirement reports.
Next step is to make sure your broker is properly regulated, and I mean with one of the big regulators, not some dodgy one on a Caribbean island somewhere.
The next step is calling that regulator to make sure they have a good record. Check each and every action against them.
The next step is finding out the liquidity providers, do your due dilligence on them, at least call them and check their record with the regulators.
The next step is checking on the corporate side of the business, get a credit report about them from one of the big leading credit agencies.
The next step is calling or visiting them and talk to them.
The next step is opening a small live account and see if your trading style suits their platform/liquidity/spreads etc.
Do your due dilligence or else live with the consequences, just don't come here complaining on these forums about some dodgy broker, if you had gone about your business the right way, you wouldn't be with a dodgy broker in the first place.
Are the big regulated brokers perfect? Of course not, you will have problems with them, at least you have somewhere to go if you can't get it resolved and a broker with a 100 Mn in capital is not going to run of with your 500 bucks.
Do your due dilligence, this link is a good start:
https://www.cftc.gov/sites/default/files/2020-09/01-%20FCM%20Webpage%20Update%20-%20September%202020.pdf
If the broker you are thinking about does not list its capital with the CFTC, would you really want to deposit your funds with them? Check with the local regulator at least for their capital requirement reports.
Next step is to make sure your broker is properly regulated, and I mean with one of the big regulators, not some dodgy one on a Caribbean island somewhere.
The next step is calling that regulator to make sure they have a good record. Check each and every action against them.
The next step is finding out the liquidity providers, do your due dilligence on them, at least call them and check their record with the regulators.
The next step is checking on the corporate side of the business, get a credit report about them from one of the big leading credit agencies.
The next step is calling or visiting them and talk to them.
The next step is opening a small live account and see if your trading style suits their platform/liquidity/spreads etc.
Do your due dilligence or else live with the consequences, just don't come here complaining on these forums about some dodgy broker, if you had gone about your business the right way, you wouldn't be with a dodgy broker in the first place.
Are the big regulated brokers perfect? Of course not, you will have problems with them, at least you have somewhere to go if you can't get it resolved and a broker with a 100 Mn in capital is not going to run of with your 500 bucks.
Nov 24 2020 at 04:32
Shelby10 posted:
If you want to trade in the forex market you need to select a regulated broker. It is very much needed to find a good broker to make money.
I agree with you, regulated brokers can provide security to trading accounts.
Nov 24 2020 at 07:18
the best broker is a broker which always ensure security of funds with a wide range of trading technologies,
Jan 13 at 14:11
I prefer FP Markets as a better broker because its been four months trading with them, their spreads are very competitive compared to other brokers and they offer lower slippage and commission cost.
Jan 13 at 17:32
LeviSievwright5 posted:Shelby10 posted:
If you want to trade in the forex market you need to select a regulated broker. It is very much needed to find a good broker to make money.
I agree with you, regulated brokers can provide security to trading accounts.
True. Also, check the broker's rating and review.
Jan 13 at 20:38
I personally don’t think it matters that they are regulated, I generally go on research. Regulated brokers doesn’t mean you will get your money back
Jan 14 at 07:37
Regulated brokers are the best in my opinion.
Jan 14 at 21:30
dutchy1986 posted:
I personally don’t think it matters that they are regulated, I generally go on research. Regulated brokers doesn’t mean you will get your money back
You are right. The fact is, brokers have an arsenal of tricks to make money unfairly. My selection of reliable brokers includes: Blueberry Markets, Global Prime, Key To Markets and Fusion Markets.
"EVERY BATTLE IS WON BEFORE IT IS FOUGHT". SUN TZU.
Jan 18 at 15:40
'Currently trading with ICM but looking to move to another broker because the spreads are not consistent and execution is not the same as before.
Anyone trading with a regulated broker with tight spreads and execution?'
Anyone trading with a regulated broker with tight spreads and execution?'
Jan 18 at 17:35
one_forex_signal posted:dutchy1986 posted:
I personally don’t think it matters that they are regulated, I generally go on research. Regulated brokers doesn’t mean you will get your money back
You are right. The fact is, brokers have an arsenal of tricks to make money unfairly. My selection of reliable brokers includes: Blueberry Markets, Global Prime, Key To Markets and Fusion Markets.
I never heard any of those brokers. Have you tried those brokers?
