Selecting a good broker.....

Discussion in 'Newbie Questions' started by Realtrendfollower, Feb 26, 2016.

  1. Anthony Lazarus

    Anthony Lazarus Trader

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    For those who are looking for offshore, finding a good broker is not at all an easy task. You will need to thoroughly research and test them with a small live account before you can conclude that you've found your broker. During my time, I mostly checked on reviews and forums to know about a broker. That was the started point and you might want to check the thread "Going offshore to escape CFTC – Broker Discussion" in babypips, really helpful to those looking for trusted offshore brokers. Personally, I'm trading with Coinexx and FXChoice. Both are doing fair so far. They offer both MT4 and MT5. Spreads and commissions are sharper on Coinexx if that helps. But always DYOR.
     
  2. larry_009

    larry_009 Newbie

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    To secure good returns out of trading, a trader must be really careful while selecting a broker for himself. This is the first step towards carrying out a profitable trade. One needs to screen a broker on the basis of various tests and traits to qualify him as a good broker.

    • The spread being offered by your broker should be lesser than the other bunch of available brokers in the market. This will reduce your cost as a trader.
    • A good broker should allow you to trade in any lot size of your choice. Never select a broker who limits you to trade on certain lot sizes only.
    • User friendly trading platforms are quintessential for a positive trade. Select a trader that provides you with a wide range of trading platforms, you think are suitable for you.
    • Next comes is their support service. Always select a broker who is quick on answering your queries over phone and email. Also make a note of their opening hours.
    • Withdrawal concerned services of the broker are also a major issue to see. Be sure that your broker is quick with withdrawals and also check if he is charging any extra amount for the same or not.
     
  3. Ethanfx

    Ethanfx Newbie

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    I trade with coinexx as well, not for bonus though but mainly because of the spreads they are offering, real tight. Good broker.
     
  4. DT77

    DT77 Trader

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    Another thing you could do that costs nothing is to check out their Live Support. If they take ages to answer or don't answer at all then I'd cross them off my list
     
  5. johnbrown_01

    johnbrown_01 Newbie

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    Yes, when it comes to look for broker, it’s important to test their spreads, their withdrawal and also their customer support as well. These are really important factors to filter your picked brokers.
     
  6. Steveday

    Steveday Newbie

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    I would never touch broker bonuses. I would always advise new traders to open a demo account and learn that way.
     

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