Things to look for when choosing a FOREX Broker

MoneyTec Forums Brokers Things to look for when choosing a FOREX Broker

This topic contains 8 replies, has 8 voices, and was last updated by  FXGuru 2 weeks, 5 days ago.

Viewing 9 posts - 1 through 9 (of 9 total)
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  • #1027

    zee
    Participant
    • 30

    1) Domicile: An online broker sitting in a highly regulated market is more likely to be trust worthy.
    2) Reputation: It is always useful to spend few hours online in reading reviews about your short-listed brokers.
    3) Regulated: When choosing your broker, you must look whether or not the broker is regulated. A broker not registered with regulatory agencies is likely to cause problems for you.
    4) Financial backing: See if your broker has strong financial backing and big clients.

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    #1303

    kued11
    Member
    • 14

    Supporting!

    Reliable!

    Regulated

    Authority approved

    Financial backup!

    Popular

    Domicile!

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    #1368

    Coleen
    Member
    • 26

    I think the points mentioned might be done randomly, but if not then I will certainly disagree with the numbering. I very much feel that the regulation got to be the point to start off with. It is then that we should look towards reputation, reviews and all those things.

    I mostly prefer an Australian based company with regulated by ASIC. I basically it’s the safest option. So, we MUST be very careful with our choice that we make, it makes the huge difference.

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    #1441

    FXGuru
    Participant
    • 46

    It might depend on what type of trader we are. I do scalping a lot, so that’s why I prefer broker with lower spread or fees at lower side. But yes I don’t compromise on with my investment. I only join it if the payment is instant, as I don’t want to risk my money with anything lower than that.

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    #1563

    Remphan
    Participant
    • 14

    I have been trading with Exness for past 2 years. The reason I joined was their reputation, as many people had positive views. So, I was happy to try it. I will be honest that I didn’t go too much over regulation or all that.

    All I looked was their payment which was instant, so I felt secure with it. And, their overall service too is pretty likeable. So my ways of selection is extremely simple and straight forward!

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    #1662

    Dr.Infinite
    Participant
    • 22

    I am really not an expert at all. I just like to trust people easily. Fortunately, I have not faced any major issues with brokers as of yet, so not overly worried about it. Anyhow, I am not an alien, so I know about the problem that people face with brokers. I only have one suggestion and that is not to be greedy towards finding the broker, as that is only way forward.

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    #1682

    viceboy
    Participant
    • 9

    There are many things to look when picking a broker, but most important aspect is whether we can stop worrying about our investment. If we have to focus on the safety of our investment, then I don’t think it is sensible to work with such broker.

    We got to be solid with our pick and only then, it will be possible to manage out. I never think about the broker, as I am settled. It helps to trade much better.

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    #1743

    OctaFX_Farid
    Participant
    • 28

    First thing I always do is to look at FPA (Forexpeacearmy), as that is the BEST source to know more about any broker and to read out genuine reviews as well.

    After that, it is obvious that demo account is good place through which we can understand well about any broker. I do these things and hope it can help others…. Good luck

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    #2049

    FXGuru
    Participant
    • 46

    My things are relatively simple and straightforward and that’s to go with one that’s regulated and established. My answer to this is FreshForex, who are truly special by all means. They are servicing since over a decade now and is well established.

    With their ECN account, I can trade confidently having low spreads, high leverage, zero balance protection, no re quotes and much more, it is all that makes the working relatively simpler for me.

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