Apart from a broker being a member of National Futures Association (NFA) or Commodity Futures Trading Commission (CFTC) (US based Brokers) or a member of Financial Service Authority (FSA) (A UK based broker) what are the other criteria. Even if the broker is from a registered member of repute if the trading platform he offers is not user friendly and the spreads are high have we to choose them?
I am seeking advice on the choice of better broker.
Regulated brokers with NFA or CFTC are very safe from scamming since you can report your scamming status to them, but take a note there, regulated brokers have a lot of disadvantages, low leverage rate(maximum 1:50), not allowing scalping, hedging, so if you’re willing to make good profit find a trusted unregulated broker with NFA or CFTC.