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How to choose a regulated forex broker?
Uczestnik z Jul 20, 2019
338 postów
Jun 29, 2020 at 15:40
Ebin posted:
Can we choose a broker based on only rating and reviews or is there any other factors to choose a good regulated broker.
The broker should have a regulation in your residential area. Otherwise you can get some serious problems (e.g. with withdrawals).
patience is the key
Uczestnik z Jun 02, 2020
7 postów
Jun 30, 2020 at 06:53
You may have great forex strategies, but if your broker runs off with your money, all your hard work & analysis was for blank. So end up with the right broker that meets your needs.
1. Consider Your Needs
2. What the Broker Should Offer
3. Personally Test out the Broker
1. Consider Your Needs
2. What the Broker Should Offer
3. Personally Test out the Broker
Real Profit Expert Advisor
Uczestnik z Jul 20, 2019
338 postów
Jun 30, 2020 at 12:01
lucasser posted:
Should i choose a broker based on experience or should i choose a broker based on rating and reviews ?
Only on your own experience and only after your own research:
marco_mmbiz posted:
Always have a look on the broker's regulation, and do your research first. If a broker has more than 2 reliable regulations then it might be a good one. But always do your research first; don't believe what is written on any broker's webpage. Do your research with their company names and license numbers first.
Good brokers have an ASIC (for Australia), CySec (for Europe), NFA (for USA), ICB (for Ireland), BaFin (for Germany), FinMa (for Switzerland), IFSC (for offshore), FCA (for UK) regulation. I'd not trust any other brokers/"regulations" out there (there might still be some other good local ones, but I don't need them, that's why I don't look after such brokers with other regulations, most of them are still suspicious).
I even don't care about spreads, commissions and stuff, as long as they are not too high, as long as my TP's are hit and as long as my deposits and withdrawals are all fine.
Reviews can be faked on pages, as well as statements on broker's own webpages. Always do your research first. And if you found a good one start with small amounts of money, do not risk all at once (or at only one broker).
patience is the key
Jul 03, 2020 at 11:12
(edytowane Jul 03, 2020 at 11:12)
sgtmarkets posted:
Best 7 Easy Peasy Online Trading Tips:
1. Pick a currency pair
Choose which currency pair you wish to trade. With more than 65 currency pairs to browse, picking a trading opportunity to believe it or not for you is essential.
We prescribe that you set aside your opportunity to comprehend the measure of price instability related to the currency pair to help deal with your risk.
2. Settle on the sort of FX trade
In spread wagering, you trade pounds per point development
In CFD trading you trade various CFDs in the unit of the construct (currency in light of the left). For instance, on the off chance that you trade GBP/USD your stake would be in Pounds, while in USD/JPY your stake would be in US Dollars
In Forex trading you purchase parts, in the unit of the construct (currency in light of the left)
For instance, on the off chance that you trade GBP/USD your stake would be in Pounds, while in USD/JPY your stake would be in US Dollars (the base stake size is 1000)
3. Choose to purchase or offer
When you have picked a market, you have to know the present price it is trading at, which you can do by raising a request ticket in the stage. All forex is cited as far as one currency versus another. Every currency pair has a 'base' currency and a 'quote' currency. The construct currency is the currency in light of the left of the currency pair and the statement currency is on the right. Put just, when trading foreign monetary standards, you would:
Purchase a currency pair in the event that you trusted that the base currency will fortify against the statement currency, or the statement currency will debilitate against the base currency.
4. Including orders
A request is a guidance to naturally trade at a point later on when prices achieve a particular level foreordained by you. You can use stop and confine requests to help guarantee that you secure any profits and limit your risk when your individual profit or loss risk targets are come to.
While not necessary, given the unpredictability in FX markets utilizing and understanding risk administration instruments, for example, stop-loss orders are basic.
A stop-loss arrange is a guidance to finish off a trade at a price more terrible than the present market level and, as the name recommends, is utilized to help limit losses. There are two kinds of stop-loss orders - standard and ensured.
5. Screen and close your trade
When open, your trade's profit and loss will now vary with each move in the market price.
You can track market prices, see your undiscovered profit/loss refresh progressively, join requests to open positions and include new trades or close existing trades from your PC or application on your cell phone and tablet.
6. Shutting your trade
When you are prepared to close your trade, you basically need to do the inverse to the opening trade. Assuming you purchased 3 CFDs to open, you would offer 3 CFDs to close. By shutting the trade, your net open profit and loss will be acknowledged and promptly reflected in your record money balance.
7. Forex trading precedents
Deliberately glance through the Forex trading precedents here to guarantee you see how Forex trading functions.
The best broker is the one who offers low spreads and ensure the security of funds
Jul 04, 2020 at 09:44
lucasser posted:
Should i choose a broker based on experience or should i choose a broker based on rating and reviews ?
Rather than relying on only one of the factors, better go with the combination. There are many reliable senior members on the forums like these, ask them their experience in this field and sort out reviews on that basis.
Out of my experience- Fxpro, XM, ICM and pepperstone have been solid since the inception and one other strong contender as of now is Fxview, testing demo with them now. I would advise you to do the same with any broker you decide to pick. Also,I would advise you to research before picking out any one of them.
Uczestnik z Jul 20, 2020
278 postów
Aug 25, 2020 at 07:15
Thank you very much for this valuable article. I completely agree with you. I think this is going to be a big help for the new traders to find a regulated and reliable broker for them.
Uczestnik z Jul 23, 2020
696 postów
Sep 26, 2020 at 12:50
lucasser posted:
Should i choose a broker based on experience or should i choose a broker based on rating and reviews ?
Rating and reviews are helpful. However, I recommend test their trading service in demo account first.
Sep 27, 2020 at 04:32
SofieAndreasen posted:lucasser posted:
Should i choose a broker based on experience or should i choose a broker based on rating and reviews ?
Rating and reviews are helpful. However, I recommend test their trading service in demo account first.
NEVER test a broker using DEMO accounts. Demo account are made just for that, just for them to make you think they dont have slippage, plugins, higher execution time, lower spread. DEMO account are for you to turn your 10k into 1M and then deposit on real account 2k and lose everything in one day, believe me, DEMO's are the paradise compare to real accounts.
If you wan to test a broker, make sure they have regulation; check on WikiFx, FPA, forums online where you can see reviews. But dont believe in every. single review. Theres people who just go there and put a review because their internet arent working so is a broker fault =/ .
Before deposit you should ask on their livechat or via email EVERYTHING you want to know about it ( take prints, save the transcription from live chat, always have 'proves'):
- deposit and withdrawal fees;
- regulation;
- methods of withdrawal PROFITS ( very important );
- if you have a account manager;
Also make sure you have a VPS where they have the server so that way your orders will have lower execution time.
Brokers are all trick and pice of sh*. They want you to lose money. So as more information you have from them more you will see and recognize their tricks.
Uczestnik z Jul 19, 2020
283 postów
Oct 15, 2020 at 11:31
I think, you can visit those websites that provide broker reviews on their sites to find the best broker from all.
Uczestnik z Apr 15, 2020
187 postów
Oct 16, 2020 at 06:40
sgtmarkets posted:
Best 7 Easy Peasy Online Trading Tips:
1. Pick a currency pair
Choose which currency pair you wish to trade. With more than 65 currency pairs to browse, picking a trading opportunity to believe it or not for you is essential.
We prescribe that you set aside your opportunity to comprehend the measure of price instability related to the currency pair to help deal with your risk.
2. Settle on the sort of FX trade
In spread wagering, you trade pounds per point development
In CFD trading you trade various CFDs in the unit of the construct (currency in light of the left). For instance, on the off chance that you trade GBP/USD your stake would be in Pounds, while in USD/JPY your stake would be in US Dollars
In Forex trading you purchase parts, in the unit of the construct (currency in light of the left)
For instance, on the off chance that you trade GBP/USD your stake would be in Pounds, while in USD/JPY your stake would be in US Dollars (the base stake size is 1000)
3. Choose to purchase or offer
When you have picked a market, you have to know the present price it is trading at, which you can do by raising a request ticket in the stage. All forex is cited as far as one currency versus another. Every currency pair has a 'base' currency and a 'quote' currency. The construct currency is the currency in light of the left of the currency pair and the statement currency is on the right. Put just, when trading foreign monetary standards, you would:
Purchase a currency pair in the event that you trusted that the base currency will fortify against the statement currency, or the statement currency will debilitate against the base currency.
4. Including orders
A request is a guidance to naturally trade at a point later on when prices achieve a particular level foreordained by you. You can use stop and confine requests to help guarantee that you secure any profits and limit your risk when your individual profit or loss risk targets are come to.
While not necessary, given the unpredictability in FX markets utilizing and understanding risk administration instruments, for example, stop-loss orders are basic.
A stop-loss arrange is a guidance to finish off a trade at a price more terrible than the present market level and, as the name recommends, is utilized to help limit losses. There are two kinds of stop-loss orders - standard and ensured.
5. Screen and close your trade
When open, your trade's profit and loss will now vary with each move in the market price.
You can track market prices, see your undiscovered profit/loss refresh progressively, join requests to open positions and include new trades or close existing trades from your PC or application on your cell phone and tablet.
6. Shutting your trade
When you are prepared to close your trade, you basically need to do the inverse to the opening trade. Assuming you purchased 3 CFDs to open, you would offer 3 CFDs to close. By shutting the trade, your net open profit and loss will be acknowledged and promptly reflected in your record money balance.
7. Forex trading precedents
Deliberately glance through the Forex trading precedents here to guarantee you see how Forex trading functions.
To choose a correct broker, a trade should note down his trading requirements.
First, ascertain your trading style. If you are a scalper select a broker which has lowest spreads and fast execution.
Second, select a trading platform, if you have just started trading then go for the MT4 trading platform, it is the most basic platform with maximum of the trading features.
Third, select a broker with low commissions and low spreads. This combination is very unique and results in tremendous trading.
Lastly, make sure that the broker is regulated by the regulation of your jurisdiction.
All these factors combined will help you get the best broker for you.
The more your practice, the more you learn.
Uczestnik z Oct 16, 2020
125 postów
Oct 16, 2020 at 06:43
Mohammadi posted:
The best broker is a broker which for all time makes sure security of funds at any deposits with a wide range of trading technologies. And any best broker does not restrict any kinds of trading techniques with scalping and hedging.
I agree. Choosing a broker which provides security of funds and lowest spreads is important.
Oct 16, 2020 at 12:29
78678676 posted:
I agree. Choosing a broker which provides security of funds and lowest spreads is important.
Right but sometimes lowest spreads can be delusional. In most cases, lowest spreads means higher commission and other fees. I calculate lowest spread when I combined both spread and commission in pips.
So far, I find Fxview & Tickmill to be fit in above category.
Uczestnik z Jul 20, 2020
278 postów
Oct 17, 2020 at 18:59
A broker is the most important element in this forex market. Without a good broker, you can not survive in this market.
Uczestnik z Sep 12, 2017
232 postów
Nov 12, 2020 at 06:10
sgtmarkets posted:
Best 7 Easy Peasy Online Trading Tips:
1. Pick a currency pair
Choose which currency pair you wish to trade. With more than 65 currency pairs to browse, picking a trading opportunity to believe it or not for you is essential.
We prescribe that you set aside your opportunity to comprehend the measure of price instability related to the currency pair to help deal with your risk.
2. Settle on the sort of FX trade
In spread wagering, you trade pounds per point development
In CFD trading you trade various CFDs in the unit of the construct (currency in light of the left). For instance, on the off chance that you trade GBP/USD your stake would be in Pounds, while in USD/JPY your stake would be in US Dollars
In Forex trading you purchase parts, in the unit of the construct (currency in light of the left)
For instance, on the off chance that you trade GBP/USD your stake would be in Pounds, while in USD/JPY your stake would be in US Dollars (the base stake size is 1000)
3. Choose to purchase or offer
When you have picked a market, you have to know the present price it is trading at, which you can do by raising a request ticket in the stage. All forex is cited as far as one currency versus another. Every currency pair has a 'base' currency and a 'quote' currency. The construct currency is the currency in light of the left of the currency pair and the statement currency is on the right. Put just, when trading foreign monetary standards, you would:
Purchase a currency pair in the event that you trusted that the base currency will fortify against the statement currency, or the statement currency will debilitate against the base currency.
4. Including orders
A request is a guidance to naturally trade at a point later on when prices achieve a particular level foreordained by you. You can use stop and confine requests to help guarantee that you secure any profits and limit your risk when your individual profit or loss risk targets are come to.
While not necessary, given the unpredictability in FX markets utilizing and understanding risk administration instruments, for example, stop-loss orders are basic.
A stop-loss arrange is a guidance to finish off a trade at a price more terrible than the present market level and, as the name recommends, is utilized to help limit losses. There are two kinds of stop-loss orders - standard and ensured.
5. Screen and close your trade
When open, your trade's profit and loss will now vary with each move in the market price.
You can track market prices, see your undiscovered profit/loss refresh progressively, join requests to open positions and include new trades or close existing trades from your PC or application on your cell phone and tablet.
6. Shutting your trade
When you are prepared to close your trade, you basically need to do the inverse to the opening trade. Assuming you purchased 3 CFDs to open, you would offer 3 CFDs to close. By shutting the trade, your net open profit and loss will be acknowledged and promptly reflected in your record money balance.
7. Forex trading precedents
Deliberately glance through the Forex trading precedents here to guarantee you see how Forex trading functions.
Thank you for the amazing tips. Very helpful to me :)
Uczestnik z Oct 12, 2020
26 postów
Nov 12, 2020 at 06:30
Forex media is helpful. So are the broker review sites.
Uczestnik z Nov 07, 2020
12 postów
Nov 27, 2020 at 05:09
Trading is not the same for every trader. Different traders take it differently and that’s what their trading strategies also depend on.
Nov 30, 2020 at 12:34
Davidtaylorr posted:
Make sure the broker you choose caters to your trading needs and has low transaction fees. The spreads it offers should be tight.
Agree with you on this. It is not a child’s play to find a broker that can match with your trading style and exactly offers what you want. I chose fxview who turned out to be reliable and trading conditions seemed decent to me. Similarly some other might be good for you. Do proper research before choosing.
Dec 03, 2020 at 11:09
I know choosing a broker is tough. What I suggest is checking all brokers, their spreads, trading conditions, test them through demo and then decide. Also, no harm in diversifying funds over multiple brokers. Fxview, Fxpro, HYCM are some good ones to check.
Uczestnik z Jul 20, 2020
172 postów
Dec 03, 2020 at 14:08
A broker is the main thing in the forex market. If you want to choose a regulated broker from this market, you can visit those websites that provide broker reviews on their sites.
Uczestnik z Oct 30, 2020
14 postów
Dec 04, 2020 at 10:26
The procedure seems very simple but is fraught with delusions ain’t it?! And I agree with others, choosing a broker is an important step for completing this process. For me it's the timely withdrawals that matter. That is 1 reason why I transferred all my funds to turnkeyforex and roboforex after a bittersweet experience in this regard with my previous broker. Another thing I would say, always split your investments into different broker accounts.
