How to choose the foreign exchange broker that suits you?

BitcoinBabe

Recruit
Messages
4
Have to say I find the broker reviews here quite good , always start out with a small deposit check withdrawals and look for slippage when in time build up your bankroll
 

bigdolly

Sergeant Major
Messages
897
Have to say I find the broker reviews here quite good , always start out with a small deposit check withdrawals and look for slippage when in time build up your bankroll
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.
 

Maria LMFX

Company Representative
Messages
22
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!
 

Petezaa

Recruit
Messages
54
ECN brokers are very good. I've used ICMarkets mainly since I started Forex, but have accounts with other good brokers too that I use to trade Crypto on a weekend. Spread is the biggest part of it for me. Brokers have to make their money somehow, so it's either have high spreads or pay commission - I'd rather pay commission.
 

aylmerk

Recruit
Messages
10
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.
 
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