So, I work for a regulated broker in the UK called Trade Nation, but I’m keen to see what everyone thinks about various brokers and if you’ve used Trade Nation great, if not then then thats absolutely fine.
I just want to see what people are looking for in a broker, to help us grow and provide a brilliant trading experience for everyone.
I definitely think having easy to reach, polite support staff is important. LiveChat has always been my favorite form of communication when it comes to getting in touch with my broker. Also, transparency about fees goes a long way. If I feel a broker is hiding things like inactivity fees, or making it seem like the process withdrawals quicker than they actually do, for example, then I assume they are hiding other things from me as well.
LiveChat is great but only if their support is actually helpful. Not related to forex but I just got off livechat from a different website and the person could not understand what I was trying to explain. I ended up ending the chat feeling more frustrated than when I had started.
I can see why from a business perspective. First of all, it’ll be hard to find actual traders who would want that job lol. And then if you do, you’d have to pay them a ton for it to be worthwhile for them.
I have been trading MT5 for years, which is great and more up to date than MT4 especially indicators and TFs. I understand that other traders tend to try out other newer platforms like TradingView or cTrader.
Not used trade nation but here’s my opinion on some of the brokers I’ve used till date -
Coinexx (one I’m currently using) - spreads are great, same with commission - hard to find a broker with both spreads and commission as low - so this is a good find.
Cryptorocket - got a wide range of crypto pairs with good spreads.
Justforex - offers high leverage of 3000x - good for scalpers.
I can say my broker, FP Markets, is good because I have been trading with it for 2 years without any issues, the withdrawals are smooth and the trading conditions are robust.
The other main reason I prefer them is their customer service team, which is quick in responding and solving client queries.
Ooh I’ve never had that happened. I know I checked out some brokers that claimed to offer it but once you connected it just put you on with a robot that could only handle simple tasks. It couldn’t even help me with general questions about the broker.
I would always definitely test it, although that doesn’t necessarily rule out getting a bad agent.
The best Brokers for FX traders are regulated brokers because of safety of funds during the SICKNESS lots of brokers shut down and clients funds lost. This is a short video on brokers
I believe a broker with responsive customer support is worthwhile. Trader should always consider this before picking any broker irrespective of their trading needs.
ZERO spread with a fixed commission should be the gold standard for a honest broker. That’s how you prove you have a perfect liquidity and you just charge a fee for your brokerage services.
Anything else smells like a counterparty.
And of course REGULATED and with fast and resolutive customer service and money transfers
@averied Agreed! Regulation, 0 spreads, low commission - these are my gold standards before finalizing on a broker. At present I’m using fxview as I found their commission to be the lowest and spreads are also good - which broker are you using?