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How to choose a broker

გვერდი: 1 2 3 >
Jun 04, 2011 01:43 pm
#1
Bee User

გვერდები: 29
გაწევრიანდა: 09/05/2011

You must do a thorough research when choosing a broker. You must see the following things.

1- Registration with a regulatory authority (NFA and CFTC in US, FSA in UK). So if a broker is not registered with a recognized regulatory authority then think twice before you register.

2- Spread, Speed of execution, Dealing or non-dealing desk. Is spread fixed or variable?

3- Leverage. Ut depends on your trading style. You must check what leverage is offered by broker.

4- Customer Support (Pick some brokers depending on above criteria and then open demo accounts. Ask questions as many as you want. Choose the broker with best customer support).

5- Extra services (news feeds, market commentry, Charting, Analysis etc) Your broker offer these services?

 

Regards

Bee There is no term like "sufficient money". So aim for a satisfied life.

Jun 04, 2011 04:03 pm
Sasha User

გვერდები: 836
გაწევრიანდა: 16/05/2011

How about bonus, Minimum deposit factors?

Jun 05, 2011 05:23 pm
Champ User

გვერდები: 711
გაწევრიანდა: 17/05/2011

May be bee told abt most important options.

http://www.fxstat.com/widget/link?t=tiny&c=1&s=24959&o1=growth&o2=drawdown&o3=profitfactor

Jun 05, 2011 05:24 pm
Champ User

გვერდები: 711
გაწევრიანდა: 17/05/2011

I mean most important factors

http://www.fxstat.com/widget/link?t=tiny&c=1&s=24959&o1=growth&o2=drawdown&o3=profitfactor

Jun 06, 2011 10:34 am
Bee User

გვერდები: 29
გაწევრიანდა: 09/05/2011

Min deposit means if you really have less capital. Even in that case, you will search for above factors with the "min deposit restriction" in mind. Similarly Bonus is not an important factor to check if a broker is good or not.

Bee There is no term like "sufficient money". So aim for a satisfied life.

Jul 14, 2011 07:04 am
Richde User

გვერდები: 114
გაწევრიანდა: 11/01/2011

Bee's absolutely right. Don't forget that minimum deposit restriction and minimum lot size sometimes can be really different. It will cause you will have to use leverage everytime which will cause a way bigger drawdowns and in some cases a margin call even faster.

Keep it simple stupid

Aug 17, 2011 04:22 pm
widhie75 User

გვერდები: 118
გაწევრიანდა: 05/12/2010

certainly, I choose broker who have thousands trader member......because broker is same as other company......all company can live longer because many people trade or many people use their product....regulation is important but not necessary, regulation is just a paper.

Can you imagine big broker with good support, good server, etc...but not much people trade in there?....soon that broker will collapse....and many broker are already closed their business.

http://www.fxstat.com/widget/link?t=wide&c=3&s=8617&o1=growth&o2=drawdown&o3=profitfactor

Aug 18, 2011 06:18 am
megrawab Hostedslavebeta

გვერდები: 332
გაწევრიანდა: 16/08/2011

what about trainings? webinars? tutorials? contests?

I am a hosted slave beta.

Aug 18, 2011 08:35 am
widhie75 User

გვერდები: 118
გაწევრიანდა: 05/12/2010

training, webinars and else provided by broker is my second consideration.....it mean broker also supporting trader needs, especially newbie.

at least broker try to give lesson to us, so that all trader keep trading with the broker.

About contest,,,yes i like contest.....when i win, i'll keep trade with the broker.

its a mutual benefit situation.

http://www.fxstat.com/widget/link?t=wide&c=3&s=8617&o1=growth&o2=drawdown&o3=profitfactor

Aug 18, 2011 08:42 am
chuna1985 User

გვერდები: 2
გაწევრიანდა: 18/08/2011

For me, track record and regulation are the two main ways that we forex traders can choose a very reliable broker for our trades. I choose my current broker due to that and till now, i have not regretted it. 

Aug 18, 2011 10:39 am
janknoah1 Hostedslavebeta

გვერდები: 44
გაწევრიანდა: 16/08/2011

a well regulated broker, regulated in the us, uk or cyprus. a broker who executes orders very fast

Jesus is Lord

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