I would have agreed with the reputation thing but for a friend's recent escapades in this jungle forex. Most large brokerage firms claim to be FX VELVETs- boasting high TRANSPARENCY. But some can barely also boast of proofs. I suggest every newbie indulges in FX archaeology to discover gem brokers. Who would believe FXCM, such FX chiefs with a HANDSOME reputation could engage in an UGLY double-dealing of customers. The best is to be financially sober in the FX and get very vigilant. Solomon could be talking of the FX when he said a little sleep a little slumber... As such working with a broker of HIGH reputation doesn't necessarily implore he wouldn't stoop LOW to defraud you when you get careless.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.
you are right, reaneyts. Thorough research would really help upcoming traders to get to a nice broker that can offer suitable. I did my research deeply till i was able to find the broker of my choice. instant deposit and quick and save withdrawal is not a problem there.Doing a research first can really help anyone find the best or even a good broker.
Yes, forums can be of help to those looking for a good broker to use, good research can also help us find out a suitable broker you know.Keeping an eye on the forums where traders exchange experiences and views can also help here to find out about the Forex broker.
You are right, friend. This are the major things we should confirm first when trying to know a reliable broker. low spreads, low transaction cost, minimum margin requirement and client terminal are one those things a good broker should offer you know. my broker profiforex have no problem offering all this mention above. Their low spread start from 2pips and you pay exactly 0.3 pips commission to them for the whole deal and no hidden charges are involve.There are alot of factors. If you you keep them in mind than you can choose a best broker. I am giving you some points to find out the best broker.
Check from where they are regulated,
Keep these things in mind you will definitely find out a decent broker.
Many broker might not play tricks on you or run away with your money, but their trading condition might not just be what you need. I don't think demo is a good way to test a broker. If the broker allows micro account, then make a small deposit and see things for yourself. I did this when I was searching for a broker where I won't experience slippages, at least not all times. This was how I found out that the broker I am currently using have a very nice platform where I rarely experience slippages.It can be tough to find a genuine, trustworthy Forex broker, I recommend reading reviews & trying demos