What do you look for in a broker?

[TheLastBear]

Hey guys,

I wanted to ask what you look for in a broker? What determines if you open an account with a broker or not?

Thanks for your thoughts on this.

[Fxpipper]

That's quite relative, it depends on each individual trader. For some, they would prefer the broker to be regulated, others prefer non-US based brokerages to get over the Dodd limit and then, like me, there are those who prefer brokers with high leverages and competitive prices. It all boils down to what the individual trader wants..

[TheLastBear]

Yes, I agree that different traders have different preferences when it comes to brokers. I look at leverage, customer service and how deposits/withdrawals are handled.

Who do you use as your prime broker?

[Fxpipper]

Currently using Trader's Way, FXCM and Alpari..did try Etoro for a while but the spreads were way too large so moved on .

[TheLastBear]

I tried etoro but honestly I hated them. They may be good for newbies, but any somewhat serious trader will not like it at least in my opinion. I stopped using them as quick as I started.

I am with PaxForex now and they have been great for me.

[Fxpipper]

Believe me, Etoro contrary to all the ads they put out, are not the ones you want to use..for obvious reasons. Sure, there are a few traders who swear that Etoro is the best but personally, do not think much of their platform or their spreads. Etoro is definitely in the past ..

[TheLastBear]

I agree.