when I choose a broker, there are certain things I look for including spreads, execution speed, commission charges and if there is any persistent issues of slippage or off-quotes or not. I use their demo accounts first and if feel comfortable, I switch to live.
marcial3 posted: Noting the number of problems there ....
Can anyone give a basis for choosing a broker, and that no one is based solely on marketing? I would love it, but I do not know either ... I watch a lot and investigate, just that. I see if it is regulated, and I look for opinions.
Greetings, thank you!
I choose my broker differently. First I check their regulations and trading platform (cross platforms like windows, mac, android, ios).
I prefer MT4 , so I contact live support and make sure they have a server nearest my location. And I prefer those broker has single account types rather than variety of accounts. And then I focused on Spread and Swap rates for major and non-major pairs, Futures, and others.
I choose smaller firms because they care about me. Big firm like FxPro and Pepperstone has higher spread for cross pairs. FXCM doesn’t allow hedge.
I am trading with Hanseatic broker, I am overall happy though their live support can’t address all of my issues (mostly server related) and I had to email their support.
Well said. Spreads, Swap, slippage during high volatility events are important. And I do use ‘Hanseatic Broker’ Yes, sometimes their live support delay couple of minutes if I remain in a que, but trust me I had more bad experience with other big brokers!
Find a broker the terms and conditions of which fit your trading style. If you scalp, find a broker that allows scalping. Look into leverage, customer service, money withdrawal process, slippage, execution speed, commissions, etc. Keep in mind that a lot of European brokers are lowering (or will lower) their leverage to 1:50 or even 1:25 and are removing trading bonuses due to new regulations by CySEC and the FCA (https://www.forexbrokerz.com/news/fca-capping-leverage-uk-forex-brokers) so you should probably take that into consideration as well.
mlawson71 posted: Find a broker the terms and conditions of which fit your trading style. If you scalp, find a broker that allows scalping. Look into leverage, customer service, money withdrawal process, slippage, execution speed, commissions, etc. Keep in mind that a lot of European brokers are lowering (or will lower) their leverage to 1:50 or even 1:25 and are removing trading bonuses due to new regulations by CySEC and the FCA (https://www.forexbrokerz.com/news/fca-capping-leverage-uk-forex-brokers) so you should probably take that into consideration as well.
lets hope this leverage limit will remain just for new inexperienced traders
1. Make sure they are well regulated - FCA, ASIC best regulators. 2. Make sure execution is good (no delays in trade execution or too wide spreads in comparison to other brokers). 3. Check with forexpeacearmy.com or here for the reviews on the broker. 4. Check with the regulators or google search complaints to see if the company has faced any complaints or fines. 5. Don't trust ones with large deposit bonus' available, if you do happen to use them use them without their deposit bonus scheme. 6. Finally, check with a small amount of capital check their depositing and withdrawing times to make sure they are smooth in both their transactions, this will also allow you to check how their platform performs with real money.
ADVERTENCIA DE ALTO RIESGO: El comercio de divisas implica un alto nivel de riesgo que puede no ser adecuado para todos los inversores.
El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo.
Podría perder una parte o la totalidad de su inversión inicial. No invierta dinero que no puede permitirse perder. Infórmese sobre los riesgos asociados al trading de divisas y pida consejo a un asesor financiero o fiscal independiente si tiene alguna duda.
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