generally , traders above all the beginners trusted regulated broker blindly , but in recent times their review is not positive that can make inspire who willing to trade in there next. sometimes i feel, brokers credibility is more important than regulation.
Apart from simple scam brokers or market maker brokers, there are so many regulated and well known brokers who play very dirty tricks on their back end to make traders loose and such things are almost impossible to figure out until you make consistent profit in your account.
So whether someone is newbie trader or professional trader, choosing the right broker is very important and the choice should be made based on the account balance someone is trading with and the type of trading system someone is using etc.
Otherwise, sometimes even it can take years of struggle for someone to be successful in trading if he is stuck with one broker for some reason. So it is also very important to trade the same trading system with multiple brokers at same time which will help the trader understand whether any particular broker is doing anything wrong to make him loose.
When looking for a broker there are many things that you have to check. According to my trading experience first of all I will be looking for in a broker, if they are regulated or not. Then I will see their deposit and withdrawal system how it works.
So couple of rules to chose the right broker 1. The trading conditions are good for your system - be it sllipage, spreads, pairs, swaps or leverage 2. There is NOT negative record on FPA 3. There IS proper regulation, avoid for example New Zealand.
There are many important things we the traders have to focus when choosing a broker, from all I think spreads is an important financial tool which an investor should consider when choosing a broker, if we have lowest trading spreads we the traders can make profit with certainly by using any kinds of trading strategies in particularly the scalping that brings profit in a short time.
togr posted: So couple of rules to chose the right broker 1. The trading conditions are good for your system - be it sllipage, spreads, pairs, swaps or leverage 2. There is NOT negative record on FPA 3. There IS proper regulation, avoid for example New Zealand.
Mate; is there any broker without negative review on FPA? I checked but didn’t get any 5***** Forex broker.
Treeny posted: Yeah, the FPA crowd a very quick to slate brokers
Till now, FPA is the number one broker review site! But I don’t think, only one review is enough to judge; on the other hand, new traders should use demo or micro type live account before their final investment.
The people on FPA are way to negative and think that all brokers are out to scam them. Sure some brokers are scammers but many are legitimate brokers. Some people on FPA give 1 star review because they couldn't use MT4 or their withdrawal wasn't made in a couple of hours. I just focus on regulation and spreads. Those are what really matter
AdebayoTheBest posted: The people on FPA are way to negative and think that all brokers are out to scam them. Sure some brokers are scammers but many are legitimate brokers. Some people on FPA give 1 star review because they couldn't use MT4 or their withdrawal wasn't made in a couple of hours. I just focus on regulation and spreads. Those are what really matter
In addition, it’s very rare to get good broker based on the ratting status of FPA. Really strange.
If you want to lead a healthy trading life with certainly you have to choose the broker which always ensures security of funds , lowest trading spreads for using any trading techniques , low transaction cost , easy withdrawal system without long time process, active customer services , free demo trading , and much more that are very supportive to lead a comfortable trading life with certainly.
There are many criteria that choosing the right forex brokers. One of them is forex bonuses. For example no deposit bonus. This bonus is not allowed to be withdrawn but it allows you to trade with a larger account in addition to the original deposit. For more, you can check this article https://www.forexbrokerslab.com/forex-bonus-no-deposit-welcome/
Bonus is probably the #1 worst way to choose a broker. Bonus should not even be considered. If there is one that that is a bonus! Regulation , spreads, reputation - those are the factors that are important not bonus
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.
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