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

DoraWalletInvest posted:
Apart from the regulations and withdrawal, you should also check out transaction costs and execution speed when you are choosing a platform. Trying the demo account of a broker before you sign up for a real account might also be a good idea.

I bet almost every trader has concerns with the executions.

marnuslabushane posted:
Always go with a broker that gives you the option of a free demo account. This will not only give you exposure to the forex market (if you are starting anew) but will make you familiar with the broker and its platform.

Demo accounts do tell a lot about a broker. I spent 4 months on Schwab before going live with them. Found their customer service and order execution quite all right. Never ever choose a broker before practicing on them with virtual money.

Garrywilson posted:
There is a limit for the protection amount.

Besides regulations look into their order history and company profile.

People still fall for such stuff I’m shocked!!!

There’s nothing shocking here, if people knowingly gamble and lose money in casinos despite knowing that they’ll never recover their money, then why wouldn’t a beginner fall for some strategies portrayed as winning ideas

I know I was a complete noob, still am, have learnt it the hard way to not trust just anyone. Trading is no get rich quick scheme. I will be mindful of using regulated brokers, have been participating in discussions to learn more on reliable sources: going to get opinions from experienced traders here and then only proceed. Confused between fxview, aafx and icm.

if i was you i would choose the oldest here: icm

Marshalsam877 posted:
Easy deposits and withdrawals are an important part of my trading. I feel so restless when I can withdraw my money quickly.

It is quite justified to feel restless when withdrawals are not on time. I did somersaults when my first withdrawal took 4 days when the broker had clearly said it wouldn't take more than 2.

Different funding and withdrawal methods should also be taken into consideration. For instance not all brokers accept crypto, or credit cards.

I do tend to put my withdrawal request on Fridays. Will do it on Monday next time and see. Thanks

Attaboy! Gosh you must be ultra new to trading to not be aware of this

It’s alright, we all were once new to this

First, learn to trader

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.

Regulations are just a mirage, a ploy for brokers to dupe traders into making them believe they are legit. Beware!

Now which one did you have an issue with and what. Sharing names always helps others.

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.

Never had the nerve to trade after hours. Do all brokers allow it, I don’t think mine does.

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.