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What to look for in an FX broker.

Discussion in 'Beginners Bootcamp' started by Carnesworth, Nov 24, 2016.

  1. Addam

    Addam Recruit

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    You need to choose the broker who offers tight spreads, and good leverages. Moreover, you also need to research about the ratings and reviews about that particular broker on different forums as well. After complete satisfaction and consultancy, you can select him for your future investments.
     
  2. Naxramos

    Naxramos Recruit

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    I wouldn't recommend paying attention to the trading condition first, it's better to concentrate on the reliability of the company, like the real clients' reviews and if there is a regulator.
     
  3. TheForexArmy

    TheForexArmy Recruit

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    Go on FPA, see which brokers are highly rated (at least above 4 stars) and have a decent history (at least in the market for the past 3 years). There are many brokers who look good in the short term but are not able to handle the big waves and black swans that come along the way.

    Regulation is really important. Try to look for at least an ASIC or FCA regulated broker. Cysec is fine too.
     
  4. Ross Bourque

    Ross Bourque Banned multi and spammer for ForexChief

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    In the forex market; broker can be your medium to reach the forex market. but right broker selection can be a difficult task since thousands of online brokerage houses are there. Even different brokers are targeting diverse customers so that their clientele can take participate in trading by fulfilling their trading needs. For example: as a scalper you will require a broker that can ensure you lower spread, easy and fastest trade executions. And as a long term trader your concern should be more profit by suitable trading strategy.

    From my point of view, a broker will be best for me which can ensure me complete capital preservation, continual customer care support, well-organized trading platform and all modern trading tools with a complete customized trading package.
     
  5. fxekspert.eu

    fxekspert.eu Recruit

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    Research and read reviews! Check if the broker is regulated. You also need to look into the withdrawal process. For an overall smooth experience see how their customer service is too. Some brokers are very helpful pre-sale and during the account opening, but after-sale can leave you hanging.
     
  6. 7Bulletin

    7Bulletin Private, 1st Class

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    I can recommend you to get some money after demo account play and deposit min amount inf some new regulated broker, assuming you have some experience try to withdraw as soon as only possible and that way you really see quickly how honest your broker is.
     
  7. ScottyCarsonMVP

    ScottyCarsonMVP Private, 1st Class

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    That's right, true words
     
  8. Kokomaster

    Kokomaster Private, 1st Class

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    Yes best way to understand any broke is to use their demo accounts , with it a trader is able to understand trading terms and services of the broker then you have to see their reliability, leverage offers and spread and things that are directly related to trading. Their order executions and withdraw should be in time . This only possible when you will actually trade with them so it is advised to test with low investment.
     
  9. Etedus12

    Etedus12 Corporal

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    It is not a crime to believe in luck, but its absolutely irational to think that luck will make you succeed as a trader. It only works that way in gambling. With all the technical and fundamental analyses plus strategy development, Forex is much more than gambling. It needs more than luck, perhaps big brains and big hearts.
     
  10. AlecR

    AlecR Private, 1st Class

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    The luck and gambling thing are not related to broker and we should look for at least 2 things in a broker. 1st is to look if the broker executes your trades at given price you set in orders. Secondly, the withdraw options should have a variety and the process should be fast enough.
     

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