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Broker choice

mariav
Aug 08 2014 at 19:11
115 príspevkov
Greifell posted:
I'm also new and I've started with YoutradeFX which was the biggest mistake I've ever done in my life, AVOID them. Now I'm using Alpari and I'm quite happy, so far no major problems. Hope it helps!

why it was a mistake? I heard they are not bad 🙃

Greifell
Aug 09 2014 at 07:56
2 príspevkov
Ha ha.. Where did you hear it?? Now they've confirmed them as scam. I'm glad that I've opened an account with only U$$1000 with them... I've tried to withdrawal as soon I read some bad reviews but I guess was too late. I've request the withdrawal 2 months ago and still nothing. Now they don't reply my e-mails and Skype also. I've reported them to ASIC and they are taking further investigations, but if you have a look at forexpeacearmy website there is hundreds and hundreds of people in the same situation. So my advice is to keep away from them. ;)

jotekfinance
Aug 09 2014 at 08:00
138 príspevkov
mariav
Sep 08 2014 at 11:42
115 príspevkov
Greifell posted:
Ha ha.. Where did you hear it?? Now they've confirmed them as scam. I'm glad that I've opened an account with only U$$1000 with them... I've tried to withdrawal as soon I read some bad reviews but I guess was too late. I've request the withdrawal 2 months ago and still nothing. Now they don't reply my e-mails and Skype also. I've reported them to ASIC and they are taking further investigations, but if you have a look at forexpeacearmy website there is hundreds and hundreds of people in the same situation. So my advice is to keep away from them. ;)


I've read about them in some forum. Actually on each broker you may find as bad reviews as a good one. Not all brokers who have bad reviews are scammers since they may have competitors as well as not all who have good one - are really good since they may have SMM managers. That is why I am not always trust to reviews and would like to know real peoples position. Now I know that I do not want to deposit with them. Thank you for your honest explanation.😄

HenritteC
Jan 11 2017 at 08:23
18 príspevkov
Eightbitpwny posted:
All in all I would like to know if you have any input on how to chose the right broker. Obviously I am interested in the best trade prices and reliability in terms of withdrawl and trading quality.
Thank you for reading and helping


Hello, you can check these links for a brokers.

https://best10fxbrokers.dk/?sosuid=377821cd-4ef4-4891-9e81-ae4dde87f9f6
https://www.best10cfdbrokers.com/itrader-cfd-broker-review/?f=280&pl=2
https://www.fxempire.com/brokers/itrader/review

And I am with ITRADER.com for now.

xgavinc
Jan 11 2017 at 14:56
235 príspevkov
Go to Reviews -> Brokers

Make sure to read the broker trading T's & C's when you go live, that is what catches most people when withdrawing funds (eg. scalping at broker where scalping is not allowed, arbitrage trading where it's not allowed, etc)... the platform allows it, but when it comes time to withdraw an audit on your account is done first, if you breached the terms (even once), it's an uphill battle.

For every loss there should be at least an equal and opposite profit.
growthera
Jan 13 2017 at 09:07
86 príspevkov
Hi, before committing more serious amounts of money to a broker, I usually start small, and then make some small withdrawels to see if the withdrawel process is running smoothly. It is no guarantee, but apart from reading about brokers and exchanging experiences, I'm not sure what I can do more to choose a broker. I don't necessarily look for the lowest spread etc.., trustworthyness is more important to me.

mlawson71
Jan 16 2017 at 11:17
1487 príspevkov
When you’re picking a new broker you have to be exceedingly careful about making sure they’re legitimate. Always check warnings from regulators about them (https://smnweekly.com/warnings/). Always double-check any information the broker gives you about themselves from other sources, especially regulators. Never trust blindly.

mr_cenk (mr_cenk)
Jan 22 2017 at 07:47
44 príspevkov
Remember that regulation is one thing but the permission it grants is another. Would you like to trade against your broker (if a broker is allowed to deal on own desk)? If you have that big amount, maybe test the waters first with some small investment. The due diligence is your responsibility after all.

mlawson71
Jan 31 2017 at 11:20
1487 príspevkov
If you’re going to work with FCA or CySEC-regulated brokers keep in mind that they will be changing their default leverage to 1:50 due to ESMA’s guidelines (published in October 2016) that aim to maintain an environment of trust and security in the forex and binary options industries by increasing client protection. Some CySEC brokers have already begun doing that. (https://www.forexbrokerz.com/news/Exness-and-Leverate%E2%80%99s-VinciCM-set-default-leverage-to-1:50-in-line-with-CySEC%E2%80%99s-requirements ) I am assuming others will do as well.

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