The best way to find the right broker is to do some research on the brokers with respect to your requirements. For example, if you have a small capital and are looking for a forex broker with low commissions, then brokers like hankotrade are a good choice. In case if you are looking for a forex broker with highly advanced trading tools, algos and APIs then brokers like saxo are a good choice. Do some research and then choose the right one.
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I completely agree with Emma. Research is very important while choosing a broker and choose what suits you the most. Like I chose â â â â â â â because of its low spreads and CMC Markets and Saxo markets because they have wide range of instruments to trade.
Make sure they are regulated and have a physical address in a specific countryđ
Create a list about your requirements. When you know what exactly you are looking for, you can filter out many options that are not compatible with your needs. In addition, read customerâs reviews about the brokers that youâve shortlisted. However, before making a final decision, test the platform personally through a demo account. After testing out several brokers on their demo I zeroed in on turnkeyforex, and that too first used a small account for a while. There are no shortcuts to finding a reliable broker.
Check what you want and need from a broker and go through the reviews section to see what people are saying about it. When you narrow down to a shortlist it is important to test them out on demo at least and if they offer a small deposit consider a small live account.
Depends on what trading conditions are important to you.
The amount of leverage you need/require the spreads or commissions charged .
Are you looking to scalp or hedge some brokers may prohibit these
These suggestions are obvious when youâre a seasoned trader who learned through trial and error.
The novice requires more detailed instructions.
You can check out FPA to find a suitable broker. I found fxview from there only.
People often think that forex trading is similar to gambling because the outcome is unknown. Forex trading, on the other hand, is done very strategically. Unlike gambling, forex trading has rules and regulations that must be followed.
I canât really understand why traders have to ask other traders to find a good broker when they donât even know each other. Itâs told over and over again that you have to find a right fit for your trading requirements. No other trader can help with that in reality.
Comparison is the key to find the right broker out of all the names you have on your mind. It might seem like a time consuming task. But since it is about the right use of your money, you better donât skip it.
Did you try demo trading with any of the brokers? If not, go ahead because merely collecting names wonât help you find the right broker.
Good spreads, affordable commissions, and execution speed matter a lot to me. I also check for any unnecessary trading restrictions that can cause trouble later.
You can chat them up or quickly check their contact us page, they usually list their offices there. I recently saw that my broker Forexchief opened an office in Nigeria, somewhere called Abuja. Maybe you can check them out too, they have great services with wide range of contracts to choose from including; forex, metals, crypto, stocks and more.
I am from Chicago, which Broker should I use? Thanks
looking for a broker with regulation like ASIC/Cysec/FCA like aximtrade with ASIC. Low spread and comission fees are also what to look for as it save your trading cost.
Hi
I want to share the best forex broker who gives you 24*7 service with the best forex tools for trading if you are new in the forex world you can start with a demo account. In the demo account, you get a lot of extra demo amounts. You can practice and trade with the demo amount, and make your strategy. The broker is Capital Street FX, and capital street fx gives you so many sectors for trade like Forex, Global Stocks & Indices, Commodities to Bonds, and Crypto. You can visit and check the Brokerâs website, and so much free information is there.
Yeah, ASIC or FCA are probably the safest options. I choose FCA because in my view this regulator is more advanced and efficient when it comes to protecting traders rights and capital.
may i know where are you based?>