how we can find good broker

Discussion in 'Forex Brokers' started by simran khalon, Dec 14, 2011.

  1. Hello, looking and choosing for a brokerage that would be really helpful is quite difficult especially that there is brokerage that has been available in the market even though they are not regulated by Cysec. However, if you put so much effort looking for it, you would be able to find the best one for you.
     
  2. Alexfx79

    Alexfx79 Active Trader

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    can't get what's this text about
    why CySec? why not FCA then?
     
  3. buzzfxbroker

    buzzfxbroker Trader

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    If you have a broker that runs a B book or trades against you then they want you to lose. You want a broker whose success relies on your success and one that offer tight spreads, obviously.
     
  4. buzzfxbroker

    buzzfxbroker Trader

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    We have the same issue. We're a new broker who also offer low commission, no b book or trading desks, fast deposits/withdrawals very competitive spreads. Of course we can't offer the same guarantee as brokers that have been running for 5 years+ but we hope to emerge on the review and rating sites very soon to fix this trust issue!
     
  5. garena

    garena Active Trader

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    One more good way to know if your broker is reliable or not (at the time you checking), it's checking myfxbooks, if that broker have a place on it, you can try.
     
  6. Mohdfx

    Mohdfx Active Trader

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    Oh, I ve read that myfxbook can be easily manipulated... I don't know, maybe they are only 50% trustworthy
     
  7. jellyeb

    jellyeb Active Trader

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    Imo any review website can be manipulated. How are you going to identify which of traders is genuine and which are paid poster in the review.
    We need to create unbiased resource which will demand proofs from traders before posting a review.
     
  8. Mohdfx

    Mohdfx Active Trader

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    In fact, you never know if it's truth. Anyway, I search for more info in the internet , compare
    sometimes I understand that those reviews are fake. or see that they seem real.
    and some more intuition of course :)
     
  9. Zak Hasmunir

    Zak Hasmunir Trader

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    I think the best way to find god broker is to choose normal ones and then compare them investing small deposits. Somebody always trade with some brokers...
     
  10. LittleJosh

    LittleJosh Newbie

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    If your a newbie then any broker should do. The risk you use and the strategy are the main reason that people loose
     
  11. Alexfx79

    Alexfx79 Active Trader

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    Practically all of them do it nowadays :)
     
  12. fuelaranfast

    fuelaranfast Newbie

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    1. regulation by strict regulators (not "CySEC")
    2. insurance of your account (check whether it is insured, and for what cases)
    3. Origin of the United States, Great Britain, Switzerland, etc. (offshore = skam)
     
  13. ForexTradesman

    ForexTradesman Newbie

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    Here's a basic guide:
    - solid reputation
    - ability to offer a tight spread
    - funding options because sometimes it is tedious to just do bank transfers
    - withdrawal process and options of receiving funds
    - online support
     
  14. Nicolas Sanz

    Nicolas Sanz Newbie

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    I went to the 1st broker who i liked the site and then looked already at his work.
     
  15. yuqieric

    yuqieric Trader

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    I think you'd better use a few more platforms to find the best suitable one for you. I use agea when I start forex trading due to it's free to open account, and can get 10000$ virtual funds and 5$ real money when you open your account. we can open position with 1$ , this is the very suit for the newbie. hope this is useful for you, good luck!
     
  16. Josh David

    Josh David Newbie

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    But I think, being fair, some brokers, though good, are underrated! safe to say, their ratings speak not so well of them. just a personal opinion.
     
  17. jellyeb

    jellyeb Active Trader

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    Those ratings are heavily manipulated. Choose wise and make personal test drives if you want to make best choice
     

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