Forex Brokers - Do You Switch Brokers A Lot?

[FXexpert]

Hey everyone,

Quick question for all the Forex traders here, do you tend to switch Forex brokers a lot? Or are you more consistent & stable with the broker you trade with?

If you do switch brokers often, why is that? What attracts you to other Forex brokers?

Looking forward to hearing everyone's answer! 🙂

 

[Enivid]

I still have never switched a broker for a real account, but I often open new demo accounts with the new brokers because new demo servers are usually less lagged and it's always interesting to check out the execution of a new broker.

 

[Hamven]

First I tried ACM but I did not find their customer support good plus they have poor Forex education and trading recommendations which I really need during the time I was starting. After which I transferred to FXCM but I am currently having problem with them now. Its a long story and will be off topic if I post it here. So for the time being it seems that I will be switching broker twice. 🙂

 

[anna575]

Hello

Wow, This is a useful information about Forex Brokers. Forex education is essential for everyone. There are a great opportunity for you. Thanks..😱

 

[domkscott]

Interesting Thread

I open a lot of demos also, just to see what's going on and try new platforms and such...
I switched broker 3 times. First, FXCBS because of obvious price manipulation and twice more because I suspected price manipulation and my suspicions are enough reason for me 🙂
Currently I'm running a few demos simultaneously, trying to find someone reliable for a long term relationship 😀

 

[Pipaholic]

So far I've been live with 6 different brokers. FXDD, Forex.com, Broco, Velocity4X, Royal, and the Collective.
I thought The Colletive was the best except for the expenses each month, even if you didn't trade.
I'm currently opening an account with ThinkForex, and will get a VPS with it too.
On demo it looks great. (but then demos always do)

 

[earn]

i don't think switching brokers can solve the problems.I think you have to use better strategies for trading,read review and do some research before joining any brokerage firm

 

[jmathers]

Agreed, with all the demo accounts available and information spread by the internet it's hard to not know about your broker before trading with them. One problem I have noticed is many complaints of individuals going from free demo accounts to live trading accounts and not receiving the same spread. Best thing to do before choosing a broker is to look them up or find a good IBO to help you navigate.

 

[Johny]

You need to find a lot of frogs before you find you princess.

Some brokers are good for small accounts, some brokers are better for big accounts.

 

[deepaksnv]

Forex Brokers

I think its not good if you change forex broker quickly...better if you do trading with an experienced forex broker rather than changing frequently.
but when it comes to money i can switch to a broker who can make more money for me.😉

 

[johnalex757]

First things first.. In my experience the datas provided by the all the forex brokers are almost the same... Not much difference.... but its in the hands of the traders.. its the trader to use his experience of his past and take care so that he doesn't faces anymore losses...

 

[Stevenfx]

On my first years in forex I switched 5-10 broker per years. The reason was that I always thought there could be a better service or a better performance of the trading platform and I looked for the perfect one. Eventually I realized the customer service, withdrawal methods etc were not less important... so I gave that the proper weight when I looked for a broker. Eventually I found my home at Alpari, in which I run my account today. However, I always curious about new brokers so I open micro accounts in different brokers and stay there for a while if they are OK. I currently have an account at sunbirdfx, which I opened 2 month ago and it is satisfying, but I am still checking it. In general, I think that each trader should have at least 2 accounts, but don't switch too many brokers… it will confuse you.

 

[Fxpipper]

Yea, at times. As Enivid said, it's always interesting to see the disparity between demo and real accounts..once that happens, start running for the hills.
Actually, you can use it as a litmus test, to see if the broker has been tweaking the demo just so to land real accounts. But yes, I do change brokers - not often though but just enough to make me review all new brokers in the market periodically.

 

[DiF0r]

I don't switch them a lot, I have a main account with one broker but every now and then I try out a new one with very a small deposit just to test things out...

 

[Ryan Cruz]

I haven't change to other broker yet as i'm good with the one i'm using right now.
But in my experience, if i found something suspicious, i simply ask them.
If they give me a crappy answer, then i might change to other.
But the thing is, nothings perfect.

 

[toretton]

I'm such a kind of person who can switch every issue of my life but I'm very stable with my broker..Don't see a reason to change it since i'm satisfied..

 

[Exness Support]

i started trading with Etoro then switched to FXCM, Hotforex and now trading with Exness. Well i think one should change brokers untill he finds the best broker which fits ones trading style. After changing three brokers i have found the broker who offers me very profitable conditions.

 

[inggo]

usually us traders only more to another broker if faced with something that doesnt go our way, and if we find a good broker we stick to it, unless IBs i think they usually join more than just one broker not really switching, but if there was a trader that switches a lot, like A LOT!! then it might not be the broker, it could be the trader at fault.

 

[nalu]

Switching broker is not ideal thats is why you need to do proper research before trading with a broker . I trade with profiforex and i am very please with their service and i have no reason to change broker.

 

[toretton]

I was switching brokers a loooot before I found the one for me...Now I have one real account with my broker but I still want to differentiate my risks that is why I switch brokers on demo accounts..