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| Forex Brokers Discuss the Forex brokers in this forum. |
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What broker did you choose?
Not all brokers that are listed on my site are regulated, and not all that regulated are regulated thoroughly, and not all those that are regulated thoroughly won't trick with you Regulation is a nice option, but it shouldn't be the main factor for choosing a broker. It's reputation, execution quality and good support should be. |
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I agree with Enivid! Choosing a regualted broker and ensuring that your fund will be held in client segregated accounts would be the best way to go about looking for a genuine broker. And fortunately, my broker - WSD is regulated by NZX and holds clients funds in the segregated accounts.
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There are many factors to consider when choosing a broker, besides regulation. Most of them don't fit in a one-size-fits-all comparison, because many brokers offer some advantages and some disadvantages to individual traders, based on their trading style and level of capitalization. For example, some brokers will offer you very low spreads if you deposit $50,000, which is great, unless you only have $10,000 to play with. Some brokers will offer you rebates and bonuses and free stuff if your trading volume is above a certain level, which is great unless you are a long-term trader that executes only a few low volume trades per year. Some brokers offer phone dealing, which is great if you don't have a stable internet connection Etc, etc, etc.
So think about how much money you are going to invest, think about your trading style and your expected trading volume per month, then go and seek out a broker that best matches those criteria - the broker that will take the least amount of money from you in transactions costs (spreads/commissions), the broker that will actually send you your money when you request a withdrawal, the broker that will let you trade fractional lots so you can apply effective money management techniques, the broker that will be there on the phone with you to comfort you when you're having a losing streak (
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Check out the broker reviews on my site, including the Etoro Review, AvaFX Review, and many more. |
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It can be tough to find a genuine, trustworthy Forex broker, I recommend reading reviews & trying demos
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One more thing:
If your broker is not located in the US, then check into the regulations in his or her own country. If you're new to forex trading altogether, then you need to do a lot of research to make sure you end up with a safe forex broker. |
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