Choosing the Right Broker
Baldo
(BaldoN)
Medlem sedan Feb 12, 2016
522 poster
Jul 24 2018 at 12:18
Actually, this is not too hard. You just have to spend some time to make the needed comparisons between trading conditions of the preferred brokers. You have to compare their execution & agency models, account types, spreads, commissions, minimum deposit, leverages, and etc... When the comparison finishes, select the brokers with the best looking trading conditions and open demo accounts with them to try their systems. Additionally, you have to find some opinions for the preferred brokers in the internet / forums. Finally, qualify the broker with best trading conditions + best received opinions and keep trying it on demo. When you feel enough familiar with the broker, try it on live :)
Tiffany
(TiffanyK)
Medlem sedan Feb 12, 2016
427 poster
Aug 03 2018 at 06:52
Exactly my point. Forums like this one are very helpful to gather opinions for the broker... very necessary part of the broker research on my opinion, not the last instance of course, but still a certain source of some reliable info..
Accept the loss as experience
BaldoN posted:
Actually, this is not too hard. You just have to spend some time to make the needed comparisons between trading conditions of the preferred brokers. You have to compare their execution & agency models, account types, spreads, commissions, minimum deposit, leverages, and etc... When the comparison finishes, select the brokers with the best looking trading conditions and open demo accounts with them to try their systems. Additionally, you have to find some opinions for the preferred brokers in the internet / forums. Finally, qualify the broker with best trading conditions + best received opinions and keep trying it on demo. When you feel enough familiar with the broker, try it on live :)
Good points, and also when you decide your broker then before going live with them it is a better idea to test them on their demo account.
FrozenIcecream
Medlem sedan Aug 03, 2018
8 poster
Aug 05 2018 at 05:46
After demo test on live with very small Lots size. Sometimes the demo and the live accounts can behave totally differently
BaldoN posted:
Actually, this is not too hard. You just have to spend some time to make the needed comparisons between trading conditions of the preferred brokers. You have to compare their execution & agency models, account types, spreads, commissions, minimum deposit, leverages, and etc... When the comparison finishes, select the brokers with the best looking trading conditions and open demo accounts with them to try their systems. Additionally, you have to find some opinions for the preferred brokers in the internet / forums. Finally, qualify the broker with best trading conditions + best received opinions and keep trying it on demo. When you feel enough familiar with the broker, try it on live :)
This is just a perfect way to choose the best one. You don't have to trust someone to trade for you unless you know them as your own. I think the age of frauds has increased rapidly in this generation but you gotta follow this @BaldoN advice. Can't add anything better.
Baldo
(BaldoN)
Medlem sedan Feb 12, 2016
522 poster
Aug 09 2018 at 12:56
DFisher posted:BaldoN posted:
Actually, this is not too hard. You just have to spend some time to make the needed comparisons between trading conditions of the preferred brokers. You have to compare their execution & agency models, account types, spreads, commissions, minimum deposit, leverages, and etc... When the comparison finishes, select the brokers with the best looking trading conditions and open demo accounts with them to try their systems. Additionally, you have to find some opinions for the preferred brokers in the internet / forums. Finally, qualify the broker with best trading conditions + best received opinions and keep trying it on demo. When you feel enough familiar with the broker, try it on live :)
Good points, and also when you decide your broker then before going live with them it is a better idea to test them on their demo account.
Indeed, but when you start testing them on demo, it is important to be patient and consistent. Many people, when see some profit at the last 2-3 days says: 'Omg, I am ready. I am starting on live now...' :D
BaldoN posted:DFisher posted:BaldoN posted:
Actually, this is not too hard. You just have to spend some time to make the needed comparisons between trading conditions of the preferred brokers. You have to compare their execution & agency models, account types, spreads, commissions, minimum deposit, leverages, and etc... When the comparison finishes, select the brokers with the best looking trading conditions and open demo accounts with them to try their systems. Additionally, you have to find some opinions for the preferred brokers in the internet / forums. Finally, qualify the broker with best trading conditions + best received opinions and keep trying it on demo. When you feel enough familiar with the broker, try it on live :)
Good points, and also when you decide your broker then before going live with them it is a better idea to test them on their demo account.
Indeed, but when you start testing them on demo, it is important to be patient and consistent. Many people, when see some profit at the last 2-3 days says: 'Omg, I am ready. I am starting on live now...' :D
Guys, in general I agree with you. But there are a few conditions that MUST be present for a demo test to be successful and to actually help with the learning.
1. Demo account MUST have the same trading conditions as live
2. Leverage and starting equity must be the same as you'd use once you move to a live account.
3. Strategies must factor in the slippage.
davidwatson
Medlem sedan Jul 27, 2018
16 poster
Aug 10 2018 at 07:31
Indeed, but when you start testing them on demo, it is important to be patient and consistent. Many people, when see some profit at the last 2-3 days says: 'Omg, I am ready. I am starting on live now...' :D
Lol, I can relate to this, that was long back.
I agree with Carlos. Pretty good advice.
I feel that some brokers provide demo account which is very easy to make profits. Is that true?
Adribaasmet
Medlem sedan Aug 27, 2017
897 poster
Aug 12 2018 at 05:50
davidwatson posted:
Indeed, but when you start testing them on demo, it is important to be patient and consistent. Many people, when see some profit at the last 2-3 days says: 'Omg, I am ready. I am starting on live now...' :D
Lol, I can relate to this, that was long back.
I agree with Carlos. Pretty good advice.
I feel that some brokers provide demo account which is very easy to make profits. Is that true?
Making profit in a long run is always difficult in everywhere (including demo).