How to choose the right broker?

Discussion in 'Forex Brokers' started by Gatoleads, Jul 23, 2015.

  1. Gatoleads

    Gatoleads Newbie

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    First, let me say - I'm not a broker nor do I work for one.
    My daily job is to send leads to brokers. After many years, I think I know almost any serious brokers.

    Feel free to contact me at any time. I hate seeing people get scammed just because they don't know...

    Ask away and I will answer...:)

    Yaron
     
  2. july

    july Trader

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    Yes,i was looking for the same and searching many companies as well as browse many websites who can actually guide me and at last found Alpari the most relevant as trading perspective.
     
  3. Steve Lock

    Steve Lock Active Trader

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    You are really brave to use Alpari after February events.
     
  4. july

    july Trader

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    Please go through [url deleted] with this news and I am sure you will not ask me same again...:)
     
  5. Fahim

    Fahim Newbie

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    The most necessary part of Forex trading is to practice on Demo account. Actually Experts says, Demo is the only platform to test your strategies, check your skills and test any kind of indicators without even losing own money. Using demo with different brokers and reading some reliable forex forums will help you better understand the market and build your own opinion regarding each broker and this business on the whole.
     
  6. John Stephani

    John Stephani Newbie

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    I can help you with that :)
     
  7. Paul Sheahan

    Paul Sheahan Trader

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    I believe right is what suits you while one can always go with what others recommend but they are doing it because it suits them, so there is no guarantee that it is going to be suitable for us as well and we must be very careful in that. I recommend OctaFX broker for one very simple and straight forward reason, it is suitable for all with having every type of benefits whether the low spread for scalpers or if it goes up to swap free account for long term traders, it’s all here.
     
  8. Steve Lock

    Steve Lock Active Trader

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    I didn't use to pay attention to one thing about brokers that now seems really important to me. I mean variety of deposit and withdrawal methods. I have realized that even if a broker has good trading conditions, but not enough withdrawal and deposit methods. This makes problems on the first stage or on the last and the most pleasand stage of trading: getting your profit. That's why I use FreshForex: besides convenient conditions it has a wide range of payment methods. For instance, it has announced China Union Pay as a new method recently.
     
  9. TheFxTrader

    TheFxTrader Trader

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    Agree. I'm still new, however, what I read was that with a real account one is highly likely to make a bunch of stupid mistakes because of what they call trading psychology. As I understand it, you are under a tremendous pressure having in mind you are using real money and all results are for real. I would appreciate if you can share how one can cope with this and protect themselves from making stupid mistakes when putting real $$$.
     
  10. Damiri

    Damiri Trader

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    demo trading?
    really?
    but how if after demo trading for years , and put real money in live account and we feel we are ready. but we are feel that presure and make a lot of loss?
    that is why brokers offer low deposit and event cent accounts, so you can trade without risking too much money.
    for example me, every month i only put $25 for trade in my broker tickmill. if i lost that amount, i will not trade or deposit anymore for that month. at least this is my risk management. lol
     
  11. Forex Grandeur

    Forex Grandeur Trader

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    I started trading forex 6 months ago. I don't really know other brokers, but I like what CMtrading provides me. They already have Spanish language and support that helped me and my friend who trade together with me.
     
  12. jakesgarland

    jakesgarland Newbie

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    In my experience, the hardest part about entering the Forex Market was finding a Forex Broker. Comparing the brokers against a checklist will allow you to make the best choice for your type of trading. All forex brokers does not offer the same type of platforms, spreads or leverage. You need to decide which options are the most important to you.
     
    Last edited by a moderator: Jan 12, 2016
    Kevin-Ford likes this.
  13. ijak8510

    ijak8510 Trader

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    nothing wrong with that because i am sure that is part of your risk management.
    and we must say thank you , because nowadays, we can trade in ECN enviroment ,taste the raw spreads and low commisions , some of them, for example tickmill, only charged $4 commisions for 1 lot you traded.
    and we can start trade with small amount of deposit.
    something impposible in the old days when not all of people can afford to deposit $200 or more.
     
  14. Wanja

    Wanja Trader

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    The best broker should have the following features; so far many brokers have these features, personally, I use FreshForex
    1. Maximum leverage of 1000:1
    2. Minimum lot size of 0.1
    3. No stop loss hunting
    4. No markup on spread
    5. Low commission
    6. No slippage
    7. No re-quoting
    8. Low swap
     
  15. radex78

    radex78 Active Trader

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    Choose broker also required research, and for trader that alredy start with huge capital I think they won't to join in scamm bad broker because already related with big money, usually regulation broker also become one reason to choose broker
     
  16. traderpool

    traderpool Trader

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    how to choose the right broker, look at the regulation,. at least your broker must have better regulations like NZ regulation or CySEC regulation like forexmart.
    Cyprus nowadays a well known country for investment industry like forexbroker, because Cyprus regulations are better time by time to protect their investor
     
    MarkTrader likes this.
  17. Steve Lock

    Steve Lock Active Trader

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    FreshForex has 0.01 minimum lot size. I'm absolutely sure about it, because I first traded with low volume just to make sure that everything was OK.
     
  18. radex78

    radex78 Active Trader

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    Yes choose broker as trader also will look regulation broker, which if they trade on regulated broker hence will more safe than without reguation, and also because forex trading itself is risky business, beside they chosing good broker also must having good skill trading to making profit so they can withdraw money
     
  19. jellyeb

    jellyeb Active Trader

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    I think regulation and feedback matters the most. When you're search for a broker pay attention to the license (should be FCA or CySec or ASIc) and read reviews at earnforex directory or FPA. I made my current choice (hotforex) following this simple guide from FF two years ago
     
  20. radex78

    radex78 Active Trader

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    Reading feedback form fellow trader also good as one reference to choosing broker, and with gather together in forum also sometime we reading feebdback among trader about broker, reeulated broker is more preferable and also good feedback from client also will making more confident to choose broker
     

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