How to choose a broker
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.
How about bonus, Minimum deposit factors?
May be bee told abt most important options.
I mean most important factors
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.
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
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.
what about trainings? webinars? tutorials? contests?
I am a hosted slave beta.
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.
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.
a well regulated broker, regulated in the us, uk or cyprus. a broker who executes orders very fast
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