In the USA there is no government guarantee for futures and forex accounts. Too big to fail is the the next best thing.
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You made a good point . We should pay more attention to where they are regulated and also not be fooled by just having regulation.
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I also think that a broker’s amount of years of experience can be proof of credibility and trust in that broker.
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Someone said that I used a broker that whenever I encountered a problem and used their call and live chat, I was connected to various support agents, which was a sign of the extent of their work and even a proof of trust.
Exactly! It’s important to see whether a broker has active support or not. You should call them to see if anyone picks up the phone, or even if they do, are they really trying to help you and solve the problem or not.
I am new to this forum site and was advised to check the forums for good brokers. I have been demo trading for three months and have made consistent profits.
Currently looking for recommendations on good brokers that have low commissions and a quick-responding customer service team.
Well FCA license is pretty hard to acquire brokers should meet lots of strict requirements to get access to UK markets, including proper order execution and withdrawals. That’s why I prefer to trade with UK regulated brokers like HFM or Exness
And I think the level of customer support provided by a broker is a crucial factor to consider when choosing a brokerage.
Of course. Like I said you should check that are they really SUPPORT agents or just some people who are hired to pick the phone and do the same drill over and over no matter what’s the problem.
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It’s not easy to get a license from reputable watchdog, so if a company spent time and put some efforts and money into it, this speaks a lot about their long-term intentions to conduct fair business.
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I also believe the customer care and having accessible customer care is necessary.
And I am trying to work with brokers that have long-term aims and put efforts to offer better opportunities.
Other factors are:
Trading Costs: Understand the broker’s spreads and commissions.
Platform: The trading platform should be user-friendly, stable, and feature-rich.
Customer Service: It should be available 24/7 and offer very friendly and useful support. Avoid those bot supports
Execution Speed: Important for high-frequency traders where seconds matter.
Leverage: High leverage can mean higher profits or losses, so choose wisely based on your risk tolerance.
Ease of Transactions: Depositing and withdrawing funds should be straightforward. Instant deposits can be crucial in volatile conditions.
Reputation: Research and make decision by your own. Don’t trust reviews 99% of them are fake.
Personal suggestion:
Check listing websites like earnforex or fxlist, and choose some old and top ones. Message their customer service to ask anything that you want to know.
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DISAGREE!
Sure, regulation is a big deal, but it’s not everything. A broker can be regulated and still offer poor service, right? Also, not every unregulated broker is a bad apple. Some have been doing solid work for years without regulation.
And about being regulated in places like Vanuatu or the Caribbean, it’s not fair to just write them off. Some might be sketchy, but not all of them. It’s better to judge case by case rather than simply by location.
So, in my book, being a good broker isn’t just about regulation. It’s about the full package service, reputation, experience and more.
Don’t you ever get tired of being so one sided and repeating the same thing over and over? How much are they paying you to be this consistent? Well, you’re not really putting in much creativity, you’re just copying and pasting the same thing and making just revisions.
Suggest you @ThaddeusFinch check out this article if you’re from US; it’s like a complete package with everything you need to know for choosing the right broker:
you’re absolutely right, of course
regulation by a proper regulator is in itself also evidential of all these other important things
exactly - the point some people don’t quite appreciate (or don’t want to) is that proper regulation means that their customer service is inspected and checked out regularly and reliably, that their websites are inspected for misleading statements, etc. etc. - it actually covers everything important, not just the “security of funds” aspects, which - again - is why what really matters is WHERE and BY WHOM a broker is regulated
apologies yet again for the repetition, but honestly sometimes all you can do is keep saying the same thing again, in the hope that it will eventualy do some good, even if some people aren’t interested - even if only one or two people get the message, that still avoids some future problems 
Respectable regulation is the first that I pay attention to. And the second one is the number of years in the forex market. Those are the essential aspects that define the overall reliability.
Sometimes even the brokers that have a long history are even more credible than the ones that obtained a reputable license. So you have to review all the cases individually.
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It is a smart move, they might provide valuable information about brokers .
You have mentioned 2two main factors for evaluating a broker . Longevity in a broker can be a sign of trustworthiness. Another good point, as Emi.s also points out, is that reading user reviews and experiences to get an idea of how satisfied traders are with their services is valuable.
Of course they do. They have everything you’d want to know about a broker on paper. The rest you’ll need to test and experience for yourself.
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Of course it is. If they don’t care about their clients, they’re going to care about their money?! Don’t think that way.
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