How to choose the foreign exchange broker that suits you?

Glastonburyk

Private, 1st Class
Messages
36
It is very important to choose a reliable broker when embarking on this journey of forex trading. This is because a bad choice of brokerage can lead to extreme failures if your broker has unrealistic terms and transaction costs. A broker with withdrawal problems is not to be relied upon at all
It’s personal to circumstances but building trust with your broker is always good
 

dextor

Private, 1st Class
Messages
41
Thanks for sharing this graceful information... Good effort :)

Choosing a good Forex broker is a not difficult task. Just check some valid points for that broker before getting registered.
The first and basic point is Forex broker should be Regulated and fully licensed. The good and well-reputed broker should offer standard as well as flexible trading terms including commission ratio, leverage, etc. Don’t forget to check out about the Customer Support service and offered service for that location where you want to trade.
 

bigdolly

Sergeant Major
Messages
868
That's the way I do it too

Brokers doesn't care about small traders, a conflict of interest arises when you start to pull substantial amount from their pockets. That's why testing with small bets is not a solution. I would rather focus on learning how to spot genuine reviews and tell them apart from fake ones. There are a lot of reviews about somebody that lost money with a broker we have to pay attention to such stuff.
 

JamesForexSlayer

Sergeant
Messages
221
Brokers doesn't care about small traders, a conflict of interest arises when you start to pull substantial amount from their pockets. That's why testing with small bets is not a solution. I would rather focus on learning how to spot genuine reviews and tell them apart from fake ones. There are a lot of reviews about somebody that lost money with a broker we have to pay attention to such stuff.
Reviews are defintiely important. One of the good thing about FPA :)
 

fxoday

Corporal
Messages
79
Reviews are defintiely important. One of the good thing about FPA :)
Yes one way to choose a broker is to look on trader review, but also regulation is important as one consideration, in the large business, also need to carefully with a fake review due competition company is very tight, sometimes they use a second hand to giving a good review
 
Messages
6
For sure, reviews are important. In fact, reading feedbacks posted by traders is the easiest way to learn more about the broker and the way it works with traders.

Another important aspect you should pay attention to is regulation. To my mind, it is better to work with brokers licensed by reliable financial authorities like British FCA, German BaFIN or French AMF. These authorities implement strict requirements applicable to anyone offering trading services while it is quite easy for the broker to get an offshore license. So, first of all, you have to take the license number published by the broker and use it search the register maintained by the appropriate authority to check the validity of the license and the list of permitted activities. There you can also find information regarding any sanctions imposed against the particular broker.

Then, read carefully the Terms and Conditions (or the Terms of Service) published by the broker. This is the main document regulating your relations with the broker, so pay attention to the rights of the broker. For example, some of the brokers reserve rights to cancel trades or revise their results or other provisions that are quite unfavourable for the trader. If there are any limitations on withdrawals, they would be also set forth in the Terms.


Of course, such aspects as commissions or instruments available are important too, but they mean nothing if the broker commits unfair actions.
 

Mazshura

Recruit
Messages
28
All this brokers afrer your choose should be able to pay you anyway for everything they really do to you. I hope you do agree with me for example. How else it will be really point out with such service anyway. I do not really help with such matters but it should work.
 
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