Just wondering

Pharaoh

Colonel
Messages
20,125
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

A sudden shift in the reviews with multiple complaints about being unable to withdraw funds is one of the biggest warning flags out there. Ignore this at your own peril.

The people who started fighting hardest and earliest to get their money out of Crown Forex and Prime4x were the only ones who got their cash. Those who sat back and said it was probably just competitors bashing the brokerage ended up with nothing.
 

Talar

Corporal
Messages
80
First and foremost you have to pick a broker who has a license, it will help you to choose the appropriate broker for you, scammers usually have a license but they're registered somewhere on island. Look through the list of brokers who has licenses from GB or Cyprus. You have to open a real account and make a small deposit just to check is everyting ok, look at how fast will they check your document, ask them lots of questions (a solid broker will providie with any information you've requested as rapid as possible). Try to trade a little bit for a week or two and then you can make a conclusion about this broker. Don't trust reviews, there will be bad, good and paid reviews so you will never understand the quality of a broker due to them.
 

Kirstysingy

Recruit
Messages
61
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
People are always quick to Chuck blame for their mistakes and are always happy to leave a bad review
 

Luke_D

Private, 1st Class
Messages
53
As per my experience, I tend to open an account with regulated broker and then try out within few weeks to months to see how the experience further. If I noticed some red flags, I will shut down my account with them. Else I can continue trading.
 

Felhamand

Private
Messages
10
The broker's reputation in trading community is important, but you've got to know how to analyze the reviews correctly. You were right by saying that there is no broker which has all the positive reviews. I feel that it is connected with the competition among the brokers which is incredibly high and severe, so even the most respected and renowned brokers have negative reviews.
Before choosing a broker you should pay attention to several things: first of all, it is the number of years the broker is on the market. In most of the cases the scams don't live longer than a couple of months or maybe a year in the best case scenario. If the broker has been operating for more than 5 years, then the chances of the broker to be a scam are really low. Secondly, official regulation. Official regulation is a kind of a filter which a broker goes through in order to get it. Not all of the brokers are able to take such a challenge and once they achieved it, they will do their best not to lose it. Finally, trading conditions, I've noticed recently that scams offer super cool trading conditions with ultra low spreads and commissions. So, you should make sure that the trading conditions which are offered by the broker you are interested in are competitive.
 

HeavenLeighRob

Corporal
Messages
116
Keep in mind that there will be cases where someone may just be angry with the broker because they lost money on their own accord, which could equal a few bad reviews for a broker that is actually very good. I think the best thing is to look for multiple negative comments about the same issue, for example, if multiple users are claiming that customer service is awful or that they never received a withdrawal, that would be a red flag. Just a couple of random negative reviews aren't that big of an issue because every broker is going to have them.
 

Anakelv

Private
Messages
35
The reviews can be different and not all of them are sincere. What I've noticed is the promotion of the scam about returning the lost money. Such 'commenter' write that the broker took all their money but thanks to some service, they got their money back. This is a total scam and it spoils a broker reputation as well. I would recommend you to pay your attention to more objective things like how long does the broker operates, are there any official regulation and so on. Such factors will give the the right picture of whether the broker is trustworthy or not.
 

Regalm_

Private, 1st Class
Messages
37
I'd say, look for regulations, trading conditions and withdrawal process. If you feel like you are satisfied with these conditions, then the broker is good to go.
 

fxoday

Recruit
Messages
583
I think you also need to make a comparison to other public reviews, with make a comparison one public review and another review maybe will find something useful, and first test the broker with small budget trading, make it grow and try to withdraw money, obey the golden rules investing money in risky business, just spent money that affords to lose, Usually if we already try the service broker we can get self-experience trading with such broker.
 
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