Things to look for when choosing a FOREX Broker

Tagged: broker, Forex, learn, trading

This topic has 10 replies, 9 voices, and was last updated 4 years, 9 months ago by FXGuru.

Viewing 11 posts - 1 through 11 (of 11 total)

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Sep 25, 2017 at 8:14 pm #1027
zee
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- 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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Nov 17, 2017 at 6:16 am #1303
kued11
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- 14
Supporting!

Reliable!

Regulated

Authority approved

Financial backup!

Popular

Domicile!

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Nov 20, 2017 at 5:14 pm #1368
Coleen
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- 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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Nov 25, 2017 at 7:03 pm #1441
FXGuru
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- 443
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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Dec 4, 2017 at 9:45 am #1563
Remphan
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- 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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Dec 11, 2017 at 7:21 pm #1662
Dr.Infinite
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- 23
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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Dec 13, 2017 at 12:11 pm #1682
viceboy
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- 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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Dec 19, 2017 at 1:45 pm #1743
OctaFX_Farid
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- 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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Nov 28, 2018 at 3:03 pm #2049
FXGuru
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- 443
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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Sep 21, 2019 at 7:09 am #2219
ImBustedNoob
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- 27
The very obvious thing we should look at is the regulation, it has to be on the mark for us to get things right. However, beyond this we should try and look into Forex Broker review to figure out the best. I do just that and it helps me a lot with Forexing because it’s a very popular and very simple place to get all proper reviews in detailed for brokers aside from obvious guidance too about Forex, so all this is what makes you get to your desire earlier.

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Dec 20, 2019 at 6:04 pm #2265
FXGuru
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- 443
A lot of things to look but I will say security is most important. And this is where I feel good with FreshForex broker, it’s truly amazing with having lowest possible spreads, bonuses and much more that makes trading super easy.

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