Choosing a new broker

Oct 19, 2020 at 04:27
2,030 Angesehen
46 Replies
Mitglied seit Aug 05, 2019   50 Posts
May 18, 2021 at 09:09
Bradley88 posted:
I'm new into forex and looking for a broker to go live soon, as a beginner should i look for a broker based on spreads and commission if i want to scalp or based on reviews and leverage ?
For scalping, the trading conditions favor the most, so you should be looking for tight spreads and lower commission. For instance, try out turnkey forex, their spreads are quite tight and the commission is only $1/100k per side.
Mitglied seit Aug 11, 2017   886 Posts
May 19, 2021 at 09:45
the newcomers should choose the broker which does not restrict any kind of trading techniques with scalping and hedging. generally the scalpers always fall a great trouble when choosing a broker.
Mitglied seit Sep 12, 2017   238 Posts
May 19, 2021 at 13:54
i guess every broker is aware iof this requirement and they have started offering all these conditions and styles.One needs to see how reliable the broker is
Mitglied seit Jul 19, 2020   788 Posts
May 19, 2021 at 16:28
perryjohn765 posted:
i guess every broker is aware iof this requirement and they have started offering all these conditions and styles.One needs to see how reliable the broker is
Yes, your opinion is correct. All brokers know their needs and act accordingly. We need to know how reliable the broker is.
Mitglied seit Mar 15, 2019   82 Posts
Sep 15, 2021 at 00:10
perryjohn765 posted:
When does a trader move to a new broker? what are the expectations from a new broker and disappointment from the previous/current broker.

I moved to off-shore about a year ago. We had some new regulations come into place over here in Australia which capped the maximum leverage to 1:30. Apparently it was for 'our own benefit' as they didn't want us to loose our money. Absolute BS. I don't need a government to help me 'stay safe' and protect me from spending my own money.
Moving off-shore was no big deal in the end, I was a little skeptical at first after things I had read, but in fact, the benefits have by far outweighed the perceived 'risks'
All or nothing
Mitglied seit Mar 26, 2021   29 Posts
Sep 17, 2021 at 04:40
Of course, you need to focus on those brokers who have extensive experience in the market and a good reputation.
Mitglied seit Mar 17, 2021   536 Posts
Sep 18, 2021 at 20:41
Mohammadi posted:
the newcomers should choose the broker which does not restrict any kind of trading techniques with scalping and hedging. generally the scalpers always fall a great trouble when choosing a broker.
Every trader should choose a regulated broker to survive in this market.
Mitglied seit Jun 26, 2020   327 Posts
Sep 19, 2021 at 07:23
the traders we have should choose the broker which always ensure security of funds with a wide range of trading technologies.
Mitglied seit Apr 03, 2021   470 Posts
Sep 19, 2021 at 23:23
I already choose the FXOpen broker and I don't think will look for another broker at present time, so far I have good experience with this broker and this is a trusted company in my experience, already more than eight years using service, and most important this company has regulated.
Mitglied seit Nov 03, 2020   70 Posts
Sep 23, 2021 at 07:03
FredJones posted:
I'm a newbie with no experience on how to find a reliable and suitable broker. Any suggestions on what type of broker I should use and how to identify if it's reliable?
First thing which is an absolute is to check whether that broker is regulated or not. If they are regulated, you are good to go. You can also open the account and try out demo trading to see whether the trading conditions fit your needs for trading. I am giving my personal opinion, I had my account opened with fxview, they are all set with the regulations. Tried out their demo trading and noticed that the spreads are good, so I decided to go live and everything went smoothly for me. And to this day, I am still trading with them. Hopefully, you will be able to find the right broker as well. Best of luck to you.
Mitglied seit Jun 13, 2020   17 Posts
Sep 30, 2021 at 18:50
Traders usualy look forward to switching their brokers because of several reasons: current broker is a scam, commissions/spreads are very high, so that a trader gives the major part of their profits to the broker, a trader doesn't like tradig platform which is used by the broker, payment methods are not satisfactory enough, diversity of financial instruments leaves much to be desired.
Mitglied seit Jul 19, 2020   751 Posts
Oct 05, 2021 at 15:37
For new trader choosing a broker is a difficult task. To start with one should first see the broker regulation and license. If the broker is regulated by good authorities, you can go for it.
Mitglied seit Aug 17, 2021   94 Posts
Oct 09, 2021 at 19:07
Step 1: Ask about the commission split.
Step 2: Evaluate the brokerage culture.
Step 3: Decide between a franchise or independent brokerage.
Step 4: Learn its reputation and niche.
Step 5: Make sure it will offer support.
Mitglied seit Mar 28, 2021   617 Posts
Jan 01, 2022 at 05:40
Newcomers should choose the broker which is more appropriate to the concept of trading that will be used , if love doing scalping should choose the broker which allows trading concept such as this.
Mitglied seit Jul 19, 2020   788 Posts
Jan 01, 2022 at 07:43
AliForexTalks posted:
Step 1: Ask about the commission split.
Step 2: Evaluate the brokerage culture.
Step 3: Decide between a franchise or independent brokerage.
Step 4: Learn its reputation and niche.
Step 5: Make sure it will offer support.
Good idea, if you want to find an ideal broker, you must find these things in the broker's service. And you have to choose a broker that provides spread tight.
Mitglied seit Jun 26, 2020   327 Posts
Jan 03, 2022 at 09:08
we the traders should choose the broker which allows all kinds of trading strategies with scalping and hedging. otherwise the trading life could be useless.
Mitglied seit Jun 12, 2021   132 Posts
Jan 03, 2022 at 09:36
the scalpers always fall a great trouble when choosing a broker , because most of the broker right now not allow scalping in their platform.
Mitglied seit Jan 03, 2022   9 Posts
Jan 03, 2022 at 12:14
FP do have good reviews online so are probably a good place to start but I have not tried them yet
Mitglied seit Aug 27, 2017   994 Posts
Jan 03, 2022 at 12:15
the good broker is a broker which for all time make sure security of funds with a wide range of trading technologies, they never restrict any kind of trading techniques.
Mitglied seit Dec 09, 2013   139 Posts
Jan 03, 2022 at 15:18
perryjohn765 posted:
When does a trader move to a new broker? what are the expectations from a new broker and disappointment from the previous/current broker.
Choosing a good broker is crucial for any trader. I would mainly look to get better spread, less commission, quick withdrawal and good customer service. If I do not get them from my current broker, I may switch to one, which ticks most of these boxes.
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