If you are looking for a good broker...

Discussion in 'Forex Brokers' started by Emibluz, Dec 26, 2013.

  1. Emibluz

    Emibluz Banned

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    ...you must look beyond regulation. Do not think because a broker is regulated, then you are safe. Here is a quote from FXpipper "See here's the problem, when it comes to regulated brokers as opposed to unregulated ones, there's just no guarantee that you are going to get your money back. Simply put, in a few countries, the regulation in question may as well not exist, given the way they go about regulating these brokers..
    I do agree that it may make sense to some, especially beginners to be wary and go for regulated brokers. But bottom line, you need to do the research, set up a nano account and after a period, make a call.
    In short, regulated or not, if the broker is out to scam you, he will.. " I completely agree with him and made this a new thread for all to read. ;)
     
  2. fxapex

    fxapex Active Trader

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    both regulated and unregulated brokers can scam you but still is better to do proper research before investing, thinking all the brokers are scammer is not sensible...
     
  3. miles

    miles Banned

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    I would advice upcoming traders to hold on to regulated broker that is been registered under regulatory authority that can offer everything you need to trade very well in the forex market. My broker is regulated under siba and can allow you to start trading with just the minimum of $1.
     
  4. miles

    miles Banned

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    We have a lot of brokers out there that are scam but not all. we traders need thorough research when choosing a good broker because that's one of the important thing you need to have in mind when it comes to forex. A good broker has no hidden charges and should offer demo account for practice. I respect my broker for their good work and for their 24hours costumer support to assist you anytime.
     
  5. Lioness

    Lioness Trader

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    Choosing a broker

    There are so many features offered by brokers these days. Competition is fierce and it is hard to choose the right one.
    I suggest you use a free review service such as dailyforex.com that writes broker reviews and constantly update them. Then compare the features that are most important to you-spreads, bonuses etc--and make an educated choice.
    And keep in mind. If you're not happy with the broker you chose, you can always open an account with another broker. I know someone who opened a demo account with a different broker each time she wanted to try out a new strategy!!!
    Good luck
     
  6. rrayne20009

    rrayne20009 Trader

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    I do agee.It will be safer to go with a regulated broker.At least there is a regulatory body linked to the gov't that oversees their activities and tends to them if there is a major complaint about them a trader/traders.My broker gdmfx(au) is regulated by ASIC so I feel safe trading with them.
     
  7. luxint

    luxint Trader

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    Finding a good broker is a crap shoot at best and what was a good broker at one time, can often change over-night.

    I've been with Pepperstone for the past few years and always found them to be top notch.

    They don't play silly tricks with the spreads like so many other brokers... and I LIKE that! :)

    Lux
     
  8. miles

    miles Banned

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    Yeah bro. The fact is that we traders deserve a reliable broker that will be excellent and good in services and straight forward with traders, because without a nice broker by our side it will be complicated for us to make it in forex.
     
  9. miles

    miles Banned

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    Yes, It's better to seek so that we you will find. I guess good research will fetch us a better broker to trade with. The thing is that traders are impatient to go for research and at the end they fall in hands of brokers that are not reliable and trust worthy. I was able to get profiforex as my broker since their execution is fast and fair there and Swap-Free accounts upon the request (no extra charges). I'm enjoying their services and trading conditons they have if i must say.
     
  10. kaito kid

    kaito kid Banned

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    Yes, that are true. the trader need a good broker who will be give them the good services especially in withdraw and deposit process. brokers who provide a timely manner withdrawal is expected by traders
     
  11. miles

    miles Banned

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    Yeah, That's just the thing traders ought to consider when coming into forex as newbie. I was able to stick to the right broker of my choice after a long time research made and now I'm fine with them for their services and regulation are kinda clear and pear for trading.
     
  12. Emibluz

    Emibluz Banned

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    Regulation does not affect your trade in anyway. So, if a broker is regulated, it does not mean you will succeed there because regulation has nothing to do with trading. I would advice any newbie to really look at what a broker have to offer for trading.
     
  13. kaito kid

    kaito kid Banned

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    I think so, which is important for a trader is what is offered by brokers fit what we want because then we would be comfortable in trading especially if there are brokers who provide insurance for traders
     
  14. dodo

    dodo Confirmed ProfiForex Representative

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    You are right, my friend, Just because a broker is regulation doesn't mean that we are 100% save with them but we still need a good broker to contribute to our success in trading and make trading clear and easy.
     
  15. vicknic

    vicknic Confirmed ProfiForex Representative

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    Really? Can you give me examples of brokers that play tricks with spread, and how you've come to know about this? Stop promoting your broker please. I think they are just like the rest.
     
  16. John_Davy

    John_Davy Confirmed 1LotSTP Representative

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    Yes i agree, But somehow there will be a time that being with regulated brokers has advantages, protecting traders like you and me. regulatory agencies are there to prevent fraudulent behavior or help us if we get scammed and cheated out of our hard earned money

    this is govern by National Futures Associations (NFA) and U.S. Commodity Futures Trading Commission (CFTC).
     
  17. dodo

    dodo Confirmed ProfiForex Representative

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    Yeah, you have raised a good point. This is the reason why I prefer regulated broker to unregulated broker because I feel save with them and I believe there is comfort sticking with a regulated broker.
     
  18. kaito kid

    kaito kid Banned

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    Indeed, a regulated broker gives us benefits, especially in terms of protection of our funds deposited. so in case of problems could use a third party i.e. the regulator from the broker
     
  19. lowe

    lowe Confirmed ProfiForex Representative

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    Yes that is the way it ought to be using the third party in case things go wrong, but it's amazing how it is done these days. I don't really see it as being significant anymore. So when I was looking for a broker I wasn't really concerned by this fact, but their reliability attracted me to them even though were regulated!
     
  20. saud100

    saud100 Banned

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    Yes I am agree forex broker should be a good and reliable and it should be also regulated. Because without a good and reliable broker we can not succeed in Forex.
     

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