Things to consider before choosing a forex broker

Exness Support

Active Trader
Apr 21, 2014
572
1
32
What are the things you will consider before you deposit your hard earned money with any forex broker?

In My opinion i will consider these conditions


01. Regulation by financial authority
02. Fast Deposit and Withdrawals (better if local)
03. Tight Spreads
04. Enough Leverage
05. Multiple Trading Platforms
06. 24*7 Support in Preferred Language


Please submit the conditions you will look forward to too.
 

jezzykid

Banned
Nov 21, 2014
37
1
0
my broker is very vital to my success in the trading market, that is why I take proper care when picking out a broker to trade with; I look at the brokers platform to see if its user friends; I also check the verification process, the spread offered by the broker and leverage; I look at the leverage offered on the platform and finally the deposit and withdrawal process; I always prefer the broker to have processors that are easy to make deposits and withdrawals; bitcoin has been the best for me so far, I have tried it for withdrawals for up to 4 times of which I got paid within 24 hours. Finally, I look for other traders review on the broker.
 

nalu

Confirmed ProfiForex Representative
Sep 3, 2014
59
1
17
When looking for a broker i look at their reputation, trading condition and tight spread and also i like using bitcoin for deposit and withdrawal because it is very fast and without commission, i am so happy profiforex that i trade with offers it
 

stephane

Trader
Jan 29, 2015
19
0
7
What are the things you will consider before you deposit your hard earned money with any forex broker?

In My opinion i will consider these conditions


01. Regulation by financial authority
02. Fast Deposit and Withdrawals (better if local)
03. Tight Spreads
04. Enough Leverage
05. Multiple Trading Platforms
06. 24*7 Support in Preferred Language


Please submit the conditions you will look forward to too.

Agree with one minor precision :the strongest regulation will not always prevent a broker from insolvency (Alpari UK for instance). This is why I am not sure I will put it as number one on my list
 

Steve Lock

Master Trader
Feb 28, 2015
202
1
52
What are the things you will consider before you deposit your hard earned money with any forex broker?

In My opinion i will consider these conditions


01. Regulation by financial authority
02. Fast Deposit and Withdrawals (better if local)
03. Tight Spreads
04. Enough Leverage
05. Multiple Trading Platforms
06. 24*7 Support in Preferred Language


Please submit the conditions you will look forward to too.

How do you think what leverage is enough?
 

IIBFX

Trader
Mar 23, 2015
1
0
7
www.iibfx.com
Whether or not you are the retail store or perhaps little institutional trader, most of us needto deal by way of a fx brokerage firm. The higher quality , you are the particular closeryou move to the particular main industry members : financial institutions, communal cash, hedge cash, substantial expenditure companies. These people occupy in relation to 75% associated with theforex industry capitalization. A number of financial institutions may very well be broker agents by themselves. The remainder 25% are person professionals like me and you, as well as smalltrading companies.
 

triplet

Active Trader
Oct 7, 2014
101
4
27
When looking for a broker i look at their reputation, trading condition and tight spread and also i like using bitcoin for deposit and withdrawal because it is very fast and without commission, i am so happy profiforex that i trade with offers it
I also trade with them they are so good to trade with . I so much like the their trading platform that does not freeze.
 

willy

Trader
Oct 8, 2014
27
0
12
How do you think what leverage is enough?[/QUOT
I Think it all depends on the lot size of the trade you want to enter, since ordinarily we might not have the margin required for opening a position, we set the the leverage according to the lot size.
But you should not that the high degree of leverage can work against you as well as for you.
Now to the main topic; I think another thing to look out for in broker is their deposit and withdrawal system. A good broker should allow you to deposit and withdraw money from your account any time you want.
 

Fischer

Confirmed IronFX Representative
Apr 9, 2015
48
0
7
Personally i look for regulators, deposit/withdraw methods, customer service, tight spreads and platforms available.
 

duxingxia

Trader
Jan 30, 2015
51
2
7
China
Such as customer service quality, withdraw speed, spread, system stability and also regulation etc. Also you can check the feedback from previous users.
 

Dmitriy Enrst

Active Trader
Mar 14, 2015
186
2
34
The the most important thing for me is fast withdrawal without any problems. Because the trading goal is to make profit and to withdraw it. That’s why I have chosen FreshForex. It is the Fresh strong point. You can easily withdraw both a small amount, and a big one.
 

markiva

Confirmed ProfiForex Representative
May 9, 2015
20
0
2
In forex almost all broker offer the same thing but they differ in different ways .It is good that you first understand what you really want as a trader and the type of trader you are when considering a broker.
 

koyl

Trader
May 25, 2015
71
2
7
Most traders look up to tight spread, regulated,good trading platform of which most brokers offer it. But i also look at how well is a brokers reputation among traders and if it is a reliable broker.
 

Digital Rahul

Newbie
Nov 23, 2022
13
4
4
29
Traders making a profit through foreign exchange(forex) trading are not just doing it randomly. They create a complete master plan, learn about the forex market and do the essential research to enter the market. But the answer to the question ‘what makes a trader successful?’ is directly pointed to the Forex broker they choose to enter the market.

With the number of Fx brokers available today, choosing one can be daunting unless you know what to look out for! From services offered, instruments provided, and convenience of transactions, get everything you need to make an informed decision right here. This article will discuss some critical factors to consider while selecting a reliable broker that fits your particular needs and goals.

Traits of an ideal Fx broker

Before going into detail, let’s set the primary pedestal of the services and factors that an ideal Fx broker should give. Some certain qualities and features should be present in them for our identification.

A good broker will offer a reliable forex trading platform, outstanding customer service, a variety of deposit and withdrawal methods, flexible leverage, and safety of funds.

  1. Reliability is critical when selecting a forex broker. You want to be sure that your broker’s platform is stable and secure. You also want to be sure that your broker offers excellent customer service. If you have any problems or questions, you want to be able to reach someone who can help you solve them quickly and efficiently.
  2. Deposit and withdrawal methods are another essential consideration. You want to be able to fund your account and withdraw your profits quickly and without any hidden fees. Some brokers offer a wider variety of methods than others, so it’s worth checking out what’s available before making your decision.
  3. Leverage is another essential factor to consider when choosing a broker. Leverage allows you to increase your potential profits (or losses) by trading with more money than you have in your account. It’s essential to choose a broker that offers flexible leverage options so that you can trade according to your own risk tolerance.
  4. The safety of funds is also an essential consideration when choosing a forex broker. You want to be sure that your money is safe and sound and that you won’t have any problems withdrawing it when you want to.

What to consider while choosing a Forex Broker?

Regulatory Compliance

Before choosing a forex trading platform or broker, the first and most important thing to know is how well-known they are. Make sure the broker is a member of the Financial Commission. You can go to the forex broker website you want to use and look for the Finco member registration number.

You can also look at reviews of some of the most well-known forex service providers. It is best to only work with fully regulated brokers so that you can trust them and your deposits are safe.

Customer Service

Forex trading is done almost twenty-four hours a day. Hence, your broker must offer you seamless customer service so the trading process can be done smoothly. The customer support of any broker can be tried out by contacting them on all communication channels provided.

If your questions or queries are not resolved immediately, this means that the broker has poor customer care service. It is a warning sign as technical problems can occur often, and you wouldn’t want to be stuck in the situation for long.

Deposit and Withdrawal Methods

To trade in forex, you need to deposit & withdraw funds from your account. Before you choose any regulated forex broker to trade in financial instruments like trading currency pairs, commodities, shares and stocks, CFDs as well as cryptocurrencies trading, go through the kinds of funding methods available at their online portal.

Credit/Debit cards, Paylivre, PayPal, and Bank Wire transfers are some of the options most brokers accept. It is necessary to check the fee applied for each method so that you don’t encounter any problems in the future.

Margin Call and Leverage

Before you decide to carry on with any broker, you need to know their margin call needs. When the margin in your account goes low, the broker has the right to issue a margin call.

In addition to the margin call, leverage is also an essential factor, as it is recommended that you select the level relevant to your trading abilities and needs.

Stop Loss Protection

Stop-loss protection ensures that the losses remain within a certain amount. While most of the best brokers offer this feature, some don’t provide it. However, it would be best to double-check with your broker before you open an account.

Conclusion

If you’re confident with your forex trading broker, you will dedicate more attention, effort, and time to the development and analysis of forex trading. Keeping the factors mentioned above in mind would go a long way and may also increase your chances of success in the competitive fx market.



Read More http://newswebsite.com/things-to-consider-while-choosing-an-online-forex-broker/
 

fargana

Active Trader
Nov 14, 2022
131
17
29
34
What are the things you will consider before you deposit your hard earned money with any forex broker?

In My opinion i will consider these conditions


01. Regulation by financial authority
02. Fast Deposit and Withdrawals (better if local)
03. Tight Spreads
04. Enough Leverage
05. Multiple Trading Platforms
06. 24*7 Support in Preferred Language


Please submit the conditions you will look forward to too.
Except from third points brokers are roughly the same, however to check live spreads you have to trade on live account because depending on your strategy you may receive slippage on your orders. It is impossible to calculate the size of these costs in advance.