Just wondering

PatrickStar

Private
Messages
10
Hey everyone..

Hope this is the right section.. i´m new to FPA.. just looked into broker section but it´s realy confusing....

Have acctually a problem with my broker but this is not part of this post...

searched in the broker section and only bad votes... every broker has it.. the big ones too..

So tell me... if they all scamming there would´nt be anyone earning money with forex... so how to find a good broker???

I just can´t find anything usefull... all i find is where i should´nt invest...


Hope the answer is here :)

Thanks

P.S.: No affiliatelinks... I never will use it... Thanks
 

LoRio

Sergeant
Messages
484
Hey everyone..

Hope this is the right section.. i´m new to FPA.. just looked into broker section but it´s realy confusing....

Have acctually a problem with my broker but this is not part of this post...

searched in the broker section and only bad votes... every broker has it.. the big ones too..

So tell me... if they all scamming there would´nt be anyone earning money with forex... so how to find a good broker???

I just can´t find anything usefull... all i find is where i should´nt invest...


Hope the answer is here :)

Thanks

P.S.: No affiliatelinks... I never will use it... Thanks

Ignore the reviews.
Its a mixture of paid bad reviews from competitors, paid good reviews from brokers, "traders" who only know forex stands for FORtune EXplosion, people jumping to conclusions fast cause they have been burnt in the past . etc .
Choose a broker who has been around for a while.
If your documents get validated fast , question it.
If it feels weird question it.
If they call you constantly question it.
 

Pharaoh

Colonel
Messages
20,125
If you learn to read the reviews, they aren't so bad. AsstMod and his minions do a pretty good job of filtering out the bulk of the fakes. The main thing you have to look out for are the brand new people who leave 1 star or 5 stars based on how well their first couple of trades went.

You also need to do more research than just the reviews. There was a well rated broker with almost no complaints in the reviews or in Scam Alerts that shut down with no warning last year. The most obvious danger sign? It wasn't regulated by any government anywhere.

This should help:

http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html
 

PatrickStar

Private
Messages
10
Ignore the reviews.
Its a mixture of paid bad reviews from competitors, paid good reviews from brokers, "traders" who only know forex stands for FORtune EXplosion, people jumping to conclusions fast cause they have been burnt in the past . etc .
Choose a broker who has been around for a while.
If your documents get validated fast , question it.
If it feels weird question it.
If they call you constantly question it.


Firstly, thanks for the tip to ignore this...

Yes but this is a problem too... For example.. 3 Years ago i tradet with IG Markets, everything was fine.. but now i´m reading about manipulations there... Also the big ones like alpari have problems so how to decide this??


If you learn to read the reviews, they aren't so bad. AsstMod and his minions do a pretty good job of filtering out the bulk of the fakes. The main thing you have to look out for are the brand new people who leave 1 star or 5 stars based on how well their first couple of trades went.

You also need to do more research than just the reviews. There was a well rated broker with almost no complaints in the reviews or in Scam Alerts that shut down with no warning last year. The most obvious danger sign? It wasn't regulated by any government anywhere.

This should help:

http://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

Hey Pharaoh,

Thanks for your reply.

Yes i have seen this post yesterday and read everything in it.. but it´s the same issue i have with the post Lirio was writing...

Thanks
 

UncleSteve

Corporal
Messages
114
In the scam folders, look for comments from long-time soldiers about weird terms and conditions. Things like profit ceilings during news. Things like weird reasons to stop you withdrawing your profits. Read the closed cases and get a feeling for the Things They Do To You.

And then find out if your broker does them...
 

Pharaoh

Colonel
Messages
20,125
And, ignore reviews and scam alert threads complaining about slippage around NFP. If you want to trade the big news events, slippage is an unfortunate fact of life.
 

UncleSteve

Corporal
Messages
114
Fair ball...

maybe one day when I'm all growed up I'll trade the news, but at the moment my day gig keeps me busy
 

Forex Rainmaker

Recruit
Messages
9
Another thing to look for when evaluating brokers is if and how company representatives respond to issues in forums and such. You will get a good read on the level of professionalism pretty fast.
 

alanrox

Corporal
Messages
177
I also agree with Lorio here. Don't trust only the reviews. Pick few brokers and start trading with them for a while. During that time you can get an idea about the broker like Customer care, withdrawals, etc
 

LoRio

Sergeant
Messages
484
Another thing to look for when evaluating brokers is if and how company representatives respond to issues in forums and such. You will get a good read on the level of professionalism pretty fast.

Not necessarily . Gauge the level of the ... "trader" first. Thats rule one.
Sometimes professionalism need be set aside for a good obnoxious-loser bashing.
 
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