Ocena: Empty Star Empty Star Empty Star Empty Star Empty Star
HOW TO CHOOSE A GOOD BROKER?
Poprzedni 1 2 3 4 5 Następny
marcial3

Członek od Nov 16, 2016  1 postów marcial3 Jan 22 2017 at 07:50
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!

TiffanyK

Członek od Feb 12, 2016  410 postów Tiffany (TiffanyK) Jan 23 2017 at 15:34
What I learned so far is that you should probably use some local to you broker. This way it will be easy for you to contact them and resolve any issues and concerns that you may have. Be careful because if you start with bad broker – you will lose part of your faith in the whole system. And that is not the point. Read a lot, use a demo account (if there is an option), test the broker and then you are good to go. Hope that will help smiley

Accept the loss as experience
jameshallow07

Członek od Jan 30, 2017  12 postów jameshallow07 Jan 31 2017 at 13:33
In my 2 years of experience, I would say choose a broker who facilitates good customer support system with right offerings. If you are opting for a broker with extraordinary offerings, you would end up getting betrayed. Choose your broker wisely, make your analysis with patience & try all the brokers that you find reliable in respect to regulations, funds security, account types, deposit requirements and support system. If you find any unfavorable it’s and bits, investigate & then check people’s opinions.

theHand

Członek od Sep 20, 2014  360 postów theHand Jan 31 2017 at 14:15
In order of priority:

1. Minimum trade sizes
2. Over night costs
3. Spread

And finally check if they have frozen other peoples trading accounts. Frozen accounts is a bucket shop trick. If you don't want the client send his money back, bucket shops declare disputes and simply keeps the cash.




togr

Członek od Feb 22, 2011  3890 postów vontogr (togr) Jan 31 2017 at 15:17
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!


@marcial3
Rule number 1 ! Always read reviews on FPA
Rule number 2 test the conditions and withdrawal with smaller accoount first

I like what I trade, I trade what I like
FxMasterGuru

Członek od May 04, 2012  1598 postów FxMasterGuru (FxMasterGuru) Jan 31 2017 at 15:57
After all due diligence go with an FCA regulated broker. Why?

Simply because of the 50,000 GBP FSCS insurance which comes automatically with the FCA regulation, should the broker take off with ALL segregated clients funds on a nice sunny day and go for a life-long luxury vacation on an exotic island.

(FPA is full of such sad horror stories and I was also a victim of such a broker, although he is not vacationing anywhere, but waiting for his court trial in Toronto...)

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
theHand

Członek od Sep 20, 2014  360 postów theHand Jan 31 2017 at 17:03
@FxMasterGuru

That insurance means nothing. I can't really remember the details, it's too long ago and I would have to spend the time to find the details. Just not worth it for me to do that for yet another internet argument with a stranger, but I did make a mental note at the time not to worry about insurances.

I think it was Anne Barnard actually, the consequences were in the 2008 failure of MF Global. Basically the insurances were waived, client accounts frozen for months, 30% change in copper value, clients unable to trade and one of the biggest futures hedge funds closed it's doors because they couldn't guarantee client funds due to the exchange not honouring their insurances. Fed's were involved. Clients were hung out to dry.

If it is crunch time the insurances means nothing. Government will simply change the rules.

That's like nr 0 of the things I worry about in a broker.

FxMasterGuru

Członek od May 04, 2012  1598 postów FxMasterGuru (FxMasterGuru) Jan 31 2017 at 17:37 (zmieniany Jan 31 2017 at 17:38 )
@theHand

Well, FSCS DID PAY innocent clients after the SNB announcement related CHF flash crash, e.g. victims of Alpari UK:

https://www.financemagnates.com/forex/brokers/fscs-distributed-51-3m-alpari-uk-clients-repaid-negative-balances-920k/

So apparently they have NOT changed the rules in 2015 which is a more recent event than the mentioned one in 2008... That is all I can say.

I am not here to argue about it either, but being a REAL victim a ''regulated broker's'' disappearance with $500k+ segregated client funds, FSCS is still better FOR ME than keeping funds at a non-insured broker which can simply ''fall off the Internet'' without a trace...

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
theHand

Członek od Sep 20, 2014  360 postów theHand Jan 31 2017 at 18:13
The clients were in the market with positions ?

They weren't the victims. Alpari got screwed. People should take responsibility for their 'investments'. If you're running at 50:1 on a pegged currency you are simply asking for shit. That should be obvious to anyone with intellect.

So that was political and the government could afford it, it was a small insolvency.

Obviously no one should touch the small 'can fall off the internet' brokers (that means all MT based brokers), I also look at jurisdiction, but I don't bargain on the insurance. That is a really bad reason to choose a broker.

theHand

Członek od Sep 20, 2014  360 postów theHand Jan 31 2017 at 18:16
My first thought actually is what's the tax implications of the brokers jurisdiction.

Poprzedni 1 2 3 4 5 Następny
Harvest Festival (2h 8min)
Key Words: Op-ed from Reagan daughter Pa...(43 min ago)
EURUSD 1.17526 GBPUSD 1.30808
USDJPY 112.56 USDCAD 1.29172

Narzędzia

Społeczność

Opinie

Brokerzy

Platforma

Wsparcie


Twitter |  Facebook |  Mapa strony  |  Zasady  |   Polityka prywatności
©2018 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.