Bradley88 posted: I'm new into forex and looking for a broker to go live soon, as a beginner should i look for a broker based on spreads and commission if i want to scalp or based on reviews and leverage ?
For scalping, the trading conditions favor the most, so you should be looking for tight spreads and lower commission. For instance, try out turnkey forex, their spreads are quite tight and the commission is only $1/100k per side.
perryjohn765 posted: When does a trader move to a new broker? what are the expectations from a new broker and disappointment from the previous/current broker.
I moved to off-shore about a year ago. We had some new regulations come into place over here in Australia which capped the maximum leverage to 1:30. Apparently it was for 'our own benefit' as they didn't want us to loose our money. Absolute BS. I don't need a government to help me 'stay safe' and protect me from spending my own money. Moving off-shore was no big deal in the end, I was a little skeptical at first after things I had read, but in fact, the benefits have by far outweighed the perceived 'risks'
Mohammadi posted: the newcomers should choose the broker which does not restrict any kind of trading techniques with scalping and hedging. generally the scalpers always fall a great trouble when choosing a broker.
Every trader should choose a regulated broker to survive in this market.
I already choose the FXOpen broker and I don't think will look for another broker at present time, so far I have good experience with this broker and this is a trusted company in my experience, already more than eight years using service, and most important this company has regulated.
the main thing is not to fall into the hands of noun-name brokers, since among them you can easily find a fraudster, I have been working with Amarkets for a long time, he suits me in all respects, the supports are especially pleased, so choose a broker only that has been on the market for a long time
FredJones posted: I'm a newbie with no experience on how to find a reliable and suitable broker. Any suggestions on what type of broker I should use and how to identify if it's reliable?
First thing which is an absolute is to check whether that broker is regulated or not. If they are regulated, you are good to go. You can also open the account and try out demo trading to see whether the trading conditions fit your needs for trading. I am giving my personal opinion, I had my account opened with fxview, they are all set with the regulations. Tried out their demo trading and noticed that the spreads are good, so I decided to go live and everything went smoothly for me. And to this day, I am still trading with them. Hopefully, you will be able to find the right broker as well. Best of luck to you.
Traders usualy look forward to switching their brokers because of several reasons: current broker is a scam, commissions/spreads are very high, so that a trader gives the major part of their profits to the broker, a trader doesn't like tradig platform which is used by the broker, payment methods are not satisfactory enough, diversity of financial instruments leaves much to be desired.
Step 1: Ask about the commission split. Step 2: Evaluate the brokerage culture. Step 3: Decide between a franchise or independent brokerage. Step 4: Learn its reputation and niche. Step 5: Make sure it will offer support.
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