How to choose a Forex broker?

[Cutiekc]

I lay my basis on the broker's withdrawal method, their track record which is very important to me as I would not want to get my funds stocked with some flimsy excuses, then the type of accounts they offer especially the cent accounts since there are times when you need to try out somethings without risking much.

Well, I also think that you should as well lay the essence on the broker regulation status knowing the country that regulated them because at time I have seen the brokers that emerges from the USA not ajjowing the hedge strategies. Don't know if its what they agreed on.

 

[Daisy]

I would also read reviews about them. If they offer good reviews then I would use them and if they have bad, scammy reviews then I would avoid them. I also avoid new brokers as they're inexperienced and trying to make money off of you more. I would also avoid those that are not up to date or have up to date trading platforms and if they offer poor service. I would also avoid poor service. I would also avoid those that do not let you withdraw money easily. That is a sign of a scam.

 

[Pettyeve]

The trader should choose the broker that is regulated by a strong body. This is important because there are too many brokers that are not regulated and if the trader puts his or her money there, the broker can turn scam and there is nothing the trader can do.

 

[Decub]

Well, I also think that you should as well lay the essence on the broker regulation status knowing the country that regulated them because at time I have seen the brokers that emerges from the USA not ajjowing the hedge strategies. Don't know if its what they agreed on.

The issue of a regulated broker is quite unnegotiable if you ask me. It is something that seems to be a must and more importantly, who regulated the broker. Spread is another big factor worth considering.

 

[gkintl]

The first thing I will look for in a forex broker is the speed of processing withdrawals. Ultimately, that matters most to any forex trader. When withdrawal requests are discarded or delayed then it does not make good impression on a broker. The second criteria is the spread. Wide spread is quite difficult to trade unless and otherwise a trader always does swing trading. The stability of server, re-quote issue, regulation, payment processors and copy trade facilities comes later in my list. I will be flexible in those issues but not with withdrawal and spread criteria.

 

[sindarin]

That is good for traders, but for me regulator also important, with regulator we can make complain and our funds protected if that companies or that broker really want to scam us at least our money is safe, but each regulator have their own standard how much money that they wil protected.

 

[tray]

Its also depend on what the traders want if the trader dont have money then he can chose to start with no deposit broker which will give the trader access to trade and some of them do give %100 deposit

 

[Bonyi]

To choose a broker, you have to read different review of them. Check out their spread and how fast they execute.

 

[kasual]

I am focus on regulated forex brokers and the method they use to make deposit and withdrawal. Will be better for me if brokers use ecurrency processor. However, majority regulated brokers avoid to use third party and choose to use credit card or bank transfer to deposit and withdraw the fund. While it serve high charge fee.

 

[TenkoFX]

Many broker now offer as the best broker. The word best has come in different meaning from trader to trader, some prefer low and tight spread, some requires bonuses and rebates for extra money. Some prefer to go with scalping yet many brokers don't allow. To me the best is that one who gives the benefits from trades and the relaxation through various means like bonus for partner, deposit/withdrawals easy.

 

[budado]

Its must be depends on our need. I do want to have a forex broker site that allows hedging, and does not have FIFO rules and can shift to swap free back and fort without any problem. And most important of all I am allowed to withdraw via paypal, neteller or PM.

 

[Decub]

That is the fact. Choices differ from individual and what you would like might be entirely different from that which I will like. This same thing seems to affect all traders and their choice for a broker. There are those who might reject a broker just because of the type of payment processor the broker is using. Absurd it might sound but it's true.

 

[budado]

Right now I mix my trading accounts from US forex broker sites to European forex broker sites. The rules are not the same like theirs FIFO and no hedging rules in US forex broker sites. But some how I just do feel to expand.

 

[Decub]

I really haven't traded with any US broker. I'm simply not pleased with some of their hard and fast rule coming from the country which they are domiciled. Most often, I even prefer hanging around with Russian brokers and even though they aren't regulated by strong body, the wry are still cool.

 

[sindarin]

I choose broker which regulated and also give good service for me. When i'm comfortable with that broker, i'll stay trading with them. And now, i also have get the right one for trading in forex. Even, i started trading with this broker with small amount only using real account

I had 4 regulators which i think is good enough to see if that broker is good enough. CFTC, FCA, ASIC, and FINMA. From regulator side, i see if there is only one from those regulators that regulated that broker then i will consider to join that broker.

 

[budado]

I had 4 regulators which i think is good enough to see if that broker is good enough. CFTC, FCA, ASIC, and FINMA. From regulator side, i see if there is only one from those regulators that regulated that broker then i will consider to join that broker.

Is CFTC also covers forex trading brokers? As far as I know CFTC is for commodities and Futures trading only and not forex trading. If its okay can you give me a forex broker sites that is regulated by CFTC? Just to enhance my research. Thanks.

 

[sindarin]

FXDD and FXCM for example. I trade in FXDD so far and love it. Also if you trade in OANDA you must know that broker also regulated by CFTC. I can say that broker which regulated by a strong regulator like CFTC has lower chance to scam.

 

[avelaskes]

I agree that regulation is important part of choosing broker and knowing that Cysec regulation is more likely to bring a fraud I was trying to avoid it but now I am trading with a broker regulated by this body and I am satisfied with it more then when I was trading with a US broker. My point is of course non regulated or regulated by "easy bodies" brokers more likely to be scammers but sometimes they can amazed you in a good way. I also agree that reviews about brokers are very useful but sometimes these reviews are nothing more than internet marketing so be attentive to trust in everything that you read.

 

[budado]

I focus on having a good stable trading account in instaforex. This is my priority right now. I think this year I can have seven account with 1,000 dollars trading capital on each account in here. That's total of 7,000 dollars trading capital. Although I only target to earn 50 dollars minimum on each trading account. That's would be a 350 dollars a month profit for me.

 

[TenkoFX]

There are so many tips to choose best broker, Firstly we check trading conditions including spreads, platforms and system.which was important for us.