What are the most important factors when choosing a Broker? - Page 8
Page 8 of 10 FirstFirst ... 6 7 8 9 10 LastLast
Results 71 to 80 of 91
  1. #71
    Join Date
    Nov 2016
    Posts
    39
    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.

  2. #72
    Join Date
    Dec 2014
    Posts
    671
    Quote Originally Posted by Jonnie Kash View Post
    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.

  3. #73
    Join Date
    Nov 2016
    Posts
    18
    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!

  4. #74
    Join Date
    Oct 2016
    Location
    Canada
    Posts
    72
    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.

  5. #75
    Join Date
    Dec 2016
    Posts
    61
    Obviously consistency and the more customers are there the better generally.

  6. #76
    Join Date
    Jul 2013
    Posts
    2,540
    Quote Originally Posted by Flypips101 View Post
    the more customers are there the better generally.

    I don't really agree with this at all.

    Bear in mind that this is a field of endeavour in which overall success-rates, whoever's figures you believe, are strikingly low: "following the majority" is hardly likely to be a recipe for success.

    I strongly suspect the realities of the brokerage industry predicate that some of the worst brokers actually have the largest numbers of customers. I certainly know of at least one huge, international brokerage with an enormous number of customers and huge sums of money under deposit that also has the worst regulatory record imaginable (and many of the regularly repeating multi-million-dollar fines arising directly over the ways they've treated their customers), while there are also plenty of very well regulated, very professional, very ethical, smaller brokerages around.

  7. #77
    Join Date
    Dec 2016
    Posts
    61
    It does seem that is not as simple as size of broker. Which broker or programs that allows automatic trading fairly simple and how many of them is the max? Does anybody of you guys crossed that issue in your demo/live trading? For example, would like to put automatic orders for few pairs, say 2,000 and these mini lots. Is there max per order. MT4 is a bit complicated and do you have success with automatic trading with any brokers?

  8. #78
    Join Date
    Dec 2016
    Posts
    61
    Btw, does automatic trading option says anything about brokers' qualities?

  9. #79
    Join Date
    Oct 2015
    Posts
    227
    An important factor while choosing any decent broker is to look either they have any positive repute in the market, its easy and could be done while checking at the review sites like FPA where we can find traders' actual insights for any broker. I guess repute matters the most than being regulated as there are many bad examples in the past where even some regulated brokers turned into scam and took their traders money.

  10. #80
    Join Date
    Oct 2013
    Posts
    972
    Quote Originally Posted by imi View Post
    An important factor while choosing any decent broker is to look either they have any positive repute in the market, its easy and could be done while checking at the review sites like FPA where we can find traders' actual insights for any broker. I guess repute matters the most than being regulated as there are many bad examples in the past where even some regulated brokers turned into scam and took their traders money.
    Yeah the case with IronFx is a vivid example of that. Regulation is a tricky thing. When broker operates well, process withdrawals etc. everybody says that FCA or ASIC works perfectly, but when it comes to bankruptcy its not that easy to seek for reimbursement from regulator because nobody is willing to pay for somebody's fail.

Forum Sponsors

Similar Threads

  1. Replies: 13
    Last Post: 02-17-2016, 02:36 PM
  2. Replies: 23
    Last Post: 09-10-2010, 06:40 PM
  3. What are the most effective Methods of Gann ?
    By basomakm in forum Trading Discussion
    Replies: 0
    Last Post: 08-30-2009, 01:52 AM
  4. Replies: 0
    Last Post: 09-11-2007, 01:40 AM
  5. What are the odds of this?
    By dpaterso in forum Beginner Questions
    Replies: 15
    Last Post: 05-08-2007, 12:52 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
"You will become as small as your controlling desire; as great as your dominant aspiration."
James Allen