How To Find A Good Broker?

VivianNg

Newbie
Aug 12, 2020
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Check out the regulation - see if its regulated in your country or the top few regulations are ASIC and FCA, if its regulated you can be sure your money is in the safe place
 
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Shaun Henry

Active Trader
Dec 29, 2016
109
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fx-list.com
I don’t think it is hard. We can use google, review sites and various such ways to figure out a quality broker. In fact, we can even use demo account too, as it will also help us with finding a good broker that we can rely and trust upon.
 
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Zeenat shein

Banned
Apr 11, 2020
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Brokers are intermediaries between a trader and market. Unfortunately, you cannot start forex trading without them. Therefore, try to choose a reliable and honest company. How to do it? Look for independent ratings of Forex companies, read reviews on forums. Be careful – reviews and ratings are often made-to-order. Moreover, both positive (bought by broker) and negative (paid by competitor). Do not trust only one source. Reputation, License Trading terms, Software, Support, Security these are some factor one should keep in mind while selecting broker. I would personally suggest to check out LMFX broker, Hot Forex or London Capital Group (LCG).
 
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Marco James

Trader
Mar 20, 2020
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Agree with advices above. Solid regulations, reliable reviews and sometimes low spreads, commission, executions are key conditions to look at since these heavily affect scalping practice. I traded various accounts including icm, fxpro, fxview, their conditions are quite suitable and stable for scalpers. Though I have short experience with fxpro and fxview but a good start.
 
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bottomhigh

Newbie
Aug 16, 2020
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5
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How To Find A Good Broker?

Decent brokers can be discovered only by the process of trials and errors and of course comparisons between brokers. Good broker is a relative concept since you can't always get perfect trading conditions and even good brokers can sometimes let you down because they have no control over LP and ability to influence on them .
 
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Zalea

Newbie
Sep 15, 2020
28
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Picking your broker is not much different from picking a stock. It starts with knowing your investing style. And today you have more options than earlier generations could dream of.
 
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bottomhigh

Newbie
Aug 16, 2020
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Look on forums for traders' testimonials, lurk of rating websites. But don't rely solely on this info because sometimes it can be rigged so you can make inadvertent mistake. Do your own diligence, compare different brokers and make your unique conclusions about their difference and similarities, try to find some unobvious points about industry, services. The most useful info is always hidden from the public.
 
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Jude.A

Banned
Aug 20, 2020
2
1
4
32
I looked for specific regulated broker within my country and did some research on it.

I dint find a suitable broker within my circle so i opted out for broker from different places, checked with traders, forums discussion.
 
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bottomhigh

Newbie
Aug 16, 2020
21
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I looked for specific regulated broker within my country and did some research on it.

I dint find a suitable broker within my circle so i opted out for broker from different places, checked with traders, forums discussion.
Do you trade with local broker or use services of international online brokerage? I heard that you can't avoid paying taxes if you trade with local broker because they can't hide gains of their clients from tax agency.
 

Sheldon56

Banned
Apr 18, 2020
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Sometime simply asking for good broker doesn't help you to find what you're looking for. It's no different than asking which is good movie when we do not know what kind of movie you're interested in, action, romantic, animation or true based story. :)

My personal opinion: If you're based in EU, Fxview and Tickmill are well regulated in most of the european countries. IC Markets, Pepperstone are well known brokers in Australia. These four brokers have strong trading conditions on hand.

I'd suggest you to take a paper and note down the list of brokers which fits your requirements, strike out the brokers which do not accept your country or not fit for your deposit/withdrawal methods or higher fees/wide spreads comparatively, or whichever parameters relevant to you. That will help narrow down to good broker of your choice.
 

danielbro

Trader
Nov 26, 2020
60
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Regulations and good trading conditions are one of the easiest way to tell you whether the broker is good and suitable for you or not.
Once you found something a broker that you think is good, you can always try their demo account and see if that is a good one for you or not.
 

ziggler

Trader
Feb 28, 2017
33
1
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choosing your favorite broker is all about you see what can offer you the best sevices you wanted to have,
I see Fxopen a good one because they are good for the services they provide.
 
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Jerry_Ken

Trader
Dec 11, 2020
57
5
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choosing your favorite broker is all about you see what can offer you the best sevices you wanted to have,
I see Fxopen a good one because they are good for the services they provide.
Oh!,Since how long have you been using them? Are they good with Spreads?