I split my money among a few brokers. Chances of them all running off at the same time is slim.
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I think splitting your funds with brokers is always a good idea as it spreads the risk than just relying on one. But how do you decide which ones to split funds with?
Broker that offer the leverage I want. Quick withdrawals so I can get my funds out asap if needed. Offer the assets I want to trade (forex and crypto for me). Good spreads, commission and execution etc. Just trawl through review sites and test them out.
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Yeah, that makes sense.
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Out of these, I have LMFX and EagleFX. But frankly none of these worked that great for me. I was expecting something else but got something else. So, I decided to go for other brokers that work better with my trading requirements. But that doesnât mean that they wonât work well for you also. Check these on the basis of your own requirements.
As I can see they are offshore brokers, though its your personal choice,but Iâd still say that its kinda much safer to be with regulated ones over offshore.
If you explore well, you will find legit brokers with solid trading conditions too. For instance, if you check out offerings of brokers like Fxview, Xm or Pepper they are pretty good plus all of them are regulated, so this way you donât risk your capital much.
Yes, I have used all of them and I had a nice trading experience with each one of them. At the same time, I believe that just because they worked for me, it doesnât mean that they will work for you also. You will have to do your learning and practising on your own so that you can find out whether they are good or not.
Frankly, I donât have anything to say against them. But I think you should test them at your own level before you come to a conclusion.