Mods: What Broker do you use?

rd122481

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To all the Moderators & Authors of the free signals given by FPA: What Broker do you use?



Thanks!:)
 
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The FPA doesn't recommend brokers. If you had asked me 2 years ago to recommend a reliable, well rated Swiss broker, Crown Forex would have been on the list. It's been liquidated. If you had asked me 2 years ago to name a New York stockbroker that could never fail, Merrill Lynch would have been in my top 3. It was on the edge of failure and was sold.

If I give you the name of my primary broker, a lot of FPA members will consider that to be an endorsement.
 
That's fair enough. If I could've PM'ed you guys, I would've.:unhappy: How about if you preface your response with a statement like: This is in NO WAY AN ENDORSMENT, but I use_______.

Or maybe you could e-mail me at rd122481@hotmail.com? I would really like to know. Thanks!
 
@rd,

The general rule in picking a broker is Regulation, Location, Funding Option.

Pick a broker and check if they are regulated by a reputable organization such as CFTC, NFA, FSA to name a few. However, some regulatory bodies are useless.

Some brokers might list on their website that they are regulated with matching membership number to boot. Yet, when you investigate, this membership belongs to some long dead broker company, or to some individual or their membership has already been pulled out.

Next is the location: do not transact with brokers located in sleazy countries. GO with the mainstream.

Next is the funding options: though most brokers only accept wire transfer, some will accept paypal/creditcard and the like. these instruments provide some safety to you in the event that the broker tries to scam you.

Last of the list is the execution of the trade. Some brokers are OK, while some are slow. pick your choice.
 
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