Searching for the bright side ?

fawzy salah

Recruit
Messages
15
I have been looking at several forex brokers for a few months now , checking their requirements , trying their demo accounts , checking their reviews. But one thing that bothers me is TRUST.
I have been looking through the reviews on this website and always find things like "list of top 20 scammer brokers to avoid". while this helps out a lot to make traders aware of their surroundings. But i am also looking for a list like " top 20 brokers you can trade with" , is there a list like that on FPA ?

I am trying to stick as much as possible to trustworthy brokers (either by heavy regulations or good word of mouth) but always find out that almost all brokers no matter how reputable, end up having problems like not allowing you to withdraw your profits , Price/spread manipulation

I am open for recommendations of good brokers, or how to protect myself from scammer brokers in case i end up dealing with one ?
 

sebking1986

Private
Messages
617
If you want my honest opinion don't just stick to a single forum. I won't go as far as to name others but there are several prominent forums that review brokers including this one. Unfortunately I doubt you will find any broker with a 100% positive feedback and I would question one you do find as the reviews could be bought or fake. Same as you won't find a bank or restaurant without upset customers at some point.
 

fawzy salah

Recruit
Messages
15
If you want my honest opinion don't just stick to a single forum. I won't go as far as to name others but there are several prominent forums that review brokers including this one. Unfortunately I doubt you will find any broker with a 100% positive feedback and I would question one you do find as the reviews could be bought or fake. Same as you won't find a bank or restaurant without upset customers at some point.
I accept the fact that there would never be a 100% approval rate. But at least 80% of the times are positive , most of the reviews here are negative. While it is good to see them to take warnings and cautions , it is kind of pessimistic. All that i am asking for is a balanced opinion. For example, if we have a list of scamming brokers , why don't we also have a list of good brokers as well ?
 

fxoday

Recruit
Messages
789
I think this is the ordinary process when a new trader looking trustworthy broker, maybe make confused about where to put money and safe company, But if already decided and entered in one broker then will get self-experience, because although the broker looks good according to one trader but not means good also according to another one. The most important in my view is to make sure you have to find your profitable trading style and keep remember, just spent money that affords to lose.
 

sebking1986

Private
Messages
617
I accept the fact that there would never be a 100% approval rate. But at least 80% of the times are positive , most of the reviews here are negative. While it is good to see them to take warnings and cautions , it is kind of pessimistic. All that i am asking for is a balanced opinion. For example, if we have a list of scamming brokers , why don't we also have a list of good brokers as well ?
Probably because a broker that isn't scamming is generally a good broker. There isn't too much between many of them and with hundred or more brokers out there the list would be huge. As such take heed of the ones that frequently appear as problem brokers and avoid them. Then think about trading conditions that are important to you. Leverage, fees, assets to trade, regulation (if so which) or not etc. Then start to narrow down from there. Chances are you'll have a few after that process to consider so open demo accounts or small accounts and test them out. Don't feel you have to single it down to one broker either.
 
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