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How to select a forex broker

Discussion in 'Forex Basics Boot Camp - Fx Articles by Pharaoh' started by Pharaoh, May 27, 2008.

  1. rasppbear

    rasppbear Private

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    yeah, affiliates are messy, dirty SCAMS...
     
  2. Vlad_Vahnovanu

    Vlad_Vahnovanu Private, 1st Class

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    What if broker i've chosen not reguated yet? In conflict situations i can forget about my funds?)
     
  3. Pharaoh

    Pharaoh Colonel

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    Maybe, maybe not. Unregulated brokers are extremely unsafe. Some do pay withdrawals with no issues for years. The problem is that the "perfect" unregulated broker can vanish in the blink of an eye, taking all of your money with them and leaving you without any regulator to complain to.

    My recommendation is to try to get your money out of the unregulated broker. Then find a broker that's well regulated and decently rated to put your money with. If the original broker gets good regulation later, you can always open a new account with them after they are properly regulated.
     
  4. rasppbear

    rasppbear Private

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    Very good articles, I would say the most useful articles I ever seen
     
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  5. Vlad_Vahnovanu

    Vlad_Vahnovanu Private, 1st Class

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    Thanks for your advice
     
  6. Rizog

    Rizog Private, 1st Class

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    Personally, I would say, go with the broker from the country with best regulations. And, instead of spending frustrating hours and days on finding a perfect broker, may be, start trial with the ones who look reasonable and have minimum entry and exit barriers. You can always jump to another if he fails to satisfy you.
     
  7. GANDUS

    GANDUS Recruit

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    Good inputs, still listening
     
  8. Rockjones11

    Rockjones11 Recruit

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    Thanks for the information, still trying to decide on a broker though
     
  9. AbishMathew

    AbishMathew Recruit

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    well explained! Legitimacy is of first importance when it comes to chosing a forex broker. Many little uneducated players spoil the market!!!

    Good luck everyone and keep in mind you need to keep strict discipline of news sources in today's ocean of disinformation created by the Internet.
     
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  10. BogdanProfun

    BogdanProfun Recruit

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    Just follow simple steps, before choosing new broker and everything is gonna be alright.
    1. Try to find information about broker using famous forex forums and websites.
    2. Check broker licenses, if he doesn't have them - forget about such broker.
    3. Try to open demo account
    4. Read more reviews about broker, try to contact with support if you have some questions
    5. Make 1st small deposit, and sometime after try to make withdraw.
    6. Make review of this broker :)
     

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