What are the most important factors when choosing a Broker?

It’s hard to highlight just one thing. It’s a portfolio of things. I found the most detailed and organized info here. List, country of origin, regulation, minimum deposit, site and contacts, platform.

Is there anything wrong with Cypriot regulations or is this just hot air?

go for large FCA or ASIC regulated broker and stay away from all brokers which are regulated in Cyprus, Belize, Seychelles or any other dodgy offshore regulator…

Seriously though, if you’re trading with a Belize regulated broker, you deserve to not be able to withdraw your money… Darwinism.

Choose an ASIC regulated broker and you will never have any problem.

Mm, being able to make a comparison is actually a good idea.

It could be worse, you know. You could pick a broker from a country where there’s no regulation whatsoever. Didn’t Russia introduce licensing from the beginning of this year?

Absolutely! Even strongly regulated countries, like the UK, have report scam brokers. The UK’s financial watchdog, the Financial Conduct Authority (FCA), issued on Thursday a notice regarding a sharp increase in the number of consumer reports about unauthorized brokers in the country

For one thet cannot enforce compensation when a broker s***s up.

And it is also not the regulator that is a problem, but the ease with which companies can be restructured, money can be moved and the ease of covering your traces when you do bad as a broker.

Haha this!!

Just don’t do it to yourself.

What a load if rubbish.
Not only are you spouting tripe but, yet again, you’re trying to promote the firm you work for

How do i find a non dealing desk broker, i’ve heard the term, but never thought it was that important. I am with FreshForex but i’m not sure if they have a non dealing desk or not, but i will check.

Thx

Not sure why this ended up here, hope for a reply

Hey Priscaha,

Yes I know it is very hard to find a non-dealing desk broker because today every market maker portrays himself as having either an ECN or STP model. After much of research work and considering various factors, I hace chosen 2 brokers- hotforex (recently switched over it) and fiprotrading. Fingers crossed and hope to receive good results from them. :22:

As I know, FreshForex has both STP and ECN models, and in my opinion, it’s no bad neither good. Actually I don’t understand why people need ‘a true ECN broker’. We are all retail traders with realtively small deposits, why don’t we just choose a reliable broker and trade with it? A mean with good trading conditions, tight spreads and fast and honest withdrawal?

I agree - it’s a common practice - lying in sites. That’s why every trader should keep calm in their search of correct broker. Spares a lot of time and money.

Did someone already mention: that they pay-out? If so, can’t we stop this thread? :wink:

many factors in choosing a broker,
yes payouts, as long as they pay with in the given time,
regulations
execution
I would suggest STP and ECN brokers over MM imp
active support,
transparent

but in the end there is no 100% broker, i mean all brokers have their struggle, its down to how much effort you put into it
always check review forums like forex peace army for feed back and issues

currently main account is at hotforex, i have another account on lmfx they are quiet new but doing well so far. best of luck

Thanks for valuable input. Could you recommend me some good bonuses to increase power for my deposit. I’m news trader looking for some good options with fair volume requirement.
Thanks.

For me, the most important factor is to find out if a broker is Regulated. In the U.S., a reputable forex broker will be a member of the NFA and will also be registered with the U. S. CFTC as a Futures Commission Merchant and Retail Foreign Exchange Dealer. The mission of these association is to protect market users and the public from fraud, manipulation and abusive practices related to the sale of commodity and financial futures. Look at for this.

Regulation is important and the other important factor that I look for is how much time it takes for a broker to withdraw profit into my electronic payment processor.

I believe regulation is most important factor that we need to look at. I am currently with OctaFX broker and they are regulated, it’s most important factor for me. Rest is great to have but if broker is not regulated then we can really have issues over security for our funds, so we got to make sure we have broker that we can trust and rely upon which is possible only if they are regulated, so that’s very important part!

When choosing a reliable broker, the important factors to put into consideration is to find out if he is regulated since there are many out there that are fraudulent. I’ll also look at for the leverage. Unless it is reasonable, if it is too high, I’ll switch.