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

Nov 05, 2020 at 11:59
Vues 2,782
59 Replies
Jack Smith
forex_trader_745947
Membre depuis Jul 08, 2019   posts 57
Dec 09, 2020 at 18:25
First, learn to trader
Bennie Riley (bennieriley)
Membre depuis Jun 09, 2020   posts 36
Dec 10, 2020 at 10:36
People also know that third parties sometimes cause the delay, like your concerned bank. From broker’s end processing happens very fast. But why is this such a big issue. If you are using a regulated licensed broker, like the one in question here pepperstone or fxview, you can be rest assured.
Membre depuis Jul 01, 2020   posts 28
Dec 10, 2020 at 12:42
Regulations are just a mirage, a ploy for brokers to dupe traders into making them believe they are legit. Beware!
Membre depuis Jul 09, 2020   posts 4
Dec 10, 2020 at 13:30
Now which one did you have an issue with and what. Sharing names always helps others.
Membre depuis Jul 01, 2020   posts 28
Dec 11, 2020 at 03:55
Nah! Haven’t used them yet! I am still struggling to be able to withdraw my money from the broker. And customer service is not responding. Will transfer funds at the first possibility to a different broker.
Membre depuis Nov 07, 2020   posts 34
Dec 11, 2020 at 12:21
Never had the nerve to trade after hours. Do all brokers allow it, I don’t think mine does.
Membre depuis Nov 17, 2020   posts 24
Dec 14, 2020 at 10:41
Look for regulation, trading conditions and other services that you would want to make use of. Also, the broker should be reputed and trustworthy. You can check reviews online as well.
Membre depuis Oct 23, 2020   posts 37
Dec 21, 2020 at 09:57
Try using regulated brokers that are good with their services. Make sure you make all the inquiries and see if the trading conditions are upto the mark. Don’t settle for less than what you need as a trader.
Membre depuis Oct 15, 2020   posts 59
Dec 22, 2020 at 04:21
Gingerrogers posted:
Regulations are just a mirage, a ploy for brokers to dupe traders into making them believe they are legit. Beware!
I agree. A lot of traders use offshore brokers too and that works fine for them so there isn’t a big deal about this.
Membre depuis Jul 09, 2020   posts 34
Dec 22, 2020 at 07:16
1 Regulation
2 Trading conditions
3 Online reviews
I look for all these things while choosing a broker.
Membre depuis Sep 30, 2020   posts 58
Dec 23, 2020 at 06:26
IvanMelnik posted:
1 Regulation
2 Trading conditions
3 Online reviews
I look for all these things while choosing a broker.
Agreed. Here are things I look for when selecting a broker:
Check if the broker is regulated
Get all the account details and check the leverage and margin
Pay close attention to commissions and spreads
Review the initial deposit amount
Check if withdrawals and payments are timely or fast
Trading platforms available
Customer support
Number and types of currency pairs offered
Membre depuis Jul 14, 2020   posts 42
Dec 23, 2020 at 10:13
I just check if the spreads are tight and the platforms run smoothly. I just use MT4 so this is pretty much the only criteria I look for. Can check reputable brokers like Etoro or IG.
Membre depuis Oct 09, 2020   posts 36
Dec 24, 2020 at 12:42
If you’re so worried about it, why not ask the experts. I trade with Pepperstone and Fxview for better spreads and smoother transactions. Withdrawals and payments are fast too.
Membre depuis Jul 20, 2020   posts 232
Dec 28, 2020 at 21:05
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.
Membre depuis Dec 05, 2020   posts 81
Dec 29, 2020 at 08:01
jamesmaxwell52 posted:
I don’t pay attention to the regulation or whatever. I just trade and make money. Simple as that.

Is it? Aren't you scared about the scams?
Membre depuis Jul 09, 2020   posts 39
Jan 01, 2021 at 05:47
The list of what all to consider when finalising on a broker are endless. But my top 3 things to look into are: deposits and withdrawals, leverage and order execution.
Membre depuis Oct 08, 2020   posts 25
Jan 04, 2021 at 04:12
I consider slippage to be a very important factor. I know that some sort of slippage is bound to happen, but many fractions of a second of slippage is only acceptable. The trading environment that I get with the brokers I am using right now is fine till now. I have noticed that big slippage occurs on any platform when an important announcement is made. I avoid news trading.
Membre depuis Jun 23, 2020   posts 29
Jan 04, 2021 at 09:47
You should look at broker reviews, I always do that before choosing a new broker for trading. Forex peace army is good for genuine reviews.
Membre depuis Oct 29, 2020   posts 35
Jan 06, 2021 at 13:16
Johnathankim posted:
You should look at broker reviews, I always do that before choosing a new broker for trading. Forex peace army is good for genuine reviews.
I agree with all reviews not being genuine, like the broker comparison sites. But fpa reviews are generally good.
Membre depuis Nov 19, 2020   posts 104
Feb 20, 2021 at 05:32
advancedsmifser posted:
Johnathankim posted:
You should look at broker reviews, I always do that before choosing a new broker for trading. Forex peace army is good for genuine reviews.
I agree with all reviews not being genuine, like the broker comparison sites. But fpa reviews are generally good.
Agreed, FPA is a good site, even I scroll that one when researching about a broker.
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