When I was starting I used to monitor transaction costs closely to understand if my broker cheats. And it's really easy to determine that - profitable traders with solid trading system may start to notice how trading conditions start to deteriorate slowly pushing the system out of profit. That's why I trade on high-timeframes with Hotforex to rule out adverse impact of transaction costs on my trading.
Choosing a decent Broker is the most important thing you need to do as a trader. Make sure that you investigated everything about the Broker you are about to invest in.
You can start with their conditions such as spreads, leverage, minimum deposit, etc.
Most probably they have a Legal documentation page so it's good to familiarize yourself with those.
After that make sure to check reviews online, social media, etc.
Usually Brokers have Demo accounts so trade on a demo for a while just to test the trading environment.
Once you completed all the steps and you feel confident enough, you can always try with a small amount and monitor for any unusual behavior.
Wish you all profitable trading!
Hey, its nice to look at all these reviews and actually learn from it and make use of it as well cause scams are all over and not sure which one to trust and to find an actual good broker is a tough task, since i'm new to it and was having my doubts on how do find a genuine broker and which one has the lowest deposit with good reputation and customer support this forum page would be helpful.
Every trader wants to join a reliable broker, and it does not depend on what country it is from, you should check other parameters, as terms, payment options, how long it has been in the market, customer support etc.
I believe that if you are looking for the right broker then there is no better place than FPA to find the actual insights regarding any broker. Just visit their review pages with the broker you want to conclude and you will find everything about them.