1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Mods: What Broker do you use?

Discussion in 'Beginners Bootcamp' started by rd122481, Dec 30, 2009.

  1. rd122481

    rd122481 Recruit

    Joined:
    Aug 20, 2009
    Messages:
    9
    Likes Received:
    0
    To all the Moderators & Authors of the free signals given by FPA: What Broker do you use?



    Thanks!:)
     
    #1 rd122481, Dec 30, 2009
    Last edited: Dec 31, 2009
  2. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

    Joined:
    Dec 11, 2007
    Messages:
    5,309
    Likes Received:
    1,035
    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.
     
  3. rd122481

    rd122481 Recruit

    Joined:
    Aug 20, 2009
    Messages:
    9
    Likes Received:
    0
    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!
     
  4. jtfx

    jtfx Private, 1st Class

    Joined:
    Dec 29, 2009
    Messages:
    40
    Likes Received:
    1
    @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.
     

Share This Page