When does a trader move to a new broker? what are the expectations from a new broker and disappointment from the previous/current broker.
Disappointment usually come with the withdrawal issues and the trading environment is bad. Otherwise, no reason to switch from a broker to another. Maybe some of the people will take in the consideration on the marketing campaign. At the moment, I’m fine with Pacific Union.
I’ve been into forex for quite a time and can say that shifting brokers is a common experience. What dissapoint the most is consistent slippage, crazy volatility spreads (way more than normal), delay withdrawals and some irritating errs.
What encourages to pick good broker? There is a thing called checkbox, once you picked some brokers, you got to check their specifications in details, it will help you cut the brokers and make you pick the right one. Some boxs like regulation should be some well known names, low spreads with low commission preferred (scalping), fast execution, NBP is a must. These things has to be tested before calling it a go.
Recently I got attention on Fxview, it seems to me that they start business few years ago but you can say it’s a well packed conditions I’ve seen so far. I gave them a shot few months back, been liking it so far. Let’s see how time unravel their position.
what is reason for your trust in them?
I guess the positive feedbacks…
Traders generally move away from the brokers who take so long to process withdrawl, charge slippages and resort to unfair trade practices. While selecting a broker, it should be seen that they have tight spreads, quick withdrawl execution, should charge low commission, have great execution speed along with a solid customer support system.
I keep hearing about slippage but I don’t believe its ever hit me.
What are the circumstances that people are trading under which make them prone to slippage? Is it maybe huge position sizes, or exotic pairs, or trading at low volume times, or what? Are there common factors?
I agree, slippage , spread and withdrawals are very imp factors and if they are good one might not switch the broker. I personally wont.
You reffered fxview here. How is this broker doing. Though I have created an account, verified but still thinking should i make the deposit or not.
no doubt, feedbacks and reviews are imp.
Slippage generally occurs at time of the major news release. and as per my experience it takes place in case of large lot size.
i believe it is because of the bad services likes delays in withdrawal, manipulation with the spreads and higher commission.
I totally agree with you on this.
Everything has been good so far as i said earlier. You can make some deposit and test them (the minimum required is just Euro5). The conditions are worth trying.
I think dissatisfaction in any of these - trading conditions, spread, transparency and withdrawals & deposit cause traders to change broker. I feel it is acceptable to change your broker but I wouldn’t recommend changing it ever too often. I wasn’t particularly happy with the service offered to me by my former broker so I changed to Forexchief.com. They gave me tighter spreads, charge low commission and provide flexible options w.r.t. account types. At the moment, I no longer feel the need to switch. One should switch if they are no longer getting what they want.
thank you for your feedback
ECN Raw account and the spreads are really tighter when compared to other similar brokers.
FP Markets is one of the oldest brokers with over 15 years of experience which makes it more reliable to choose and its regulated by ASIC and CYSEC.
that is worth giving a try then. Have heard them about them but never given a try.
Traders normally move to another broker due to disappointment from their current broker which mainly comes from high spreads and bad trading conditions or positive feedbacks for other brokers
true that. it is mainly because of the poor service and spreads.
I agree totally.