Brokers offer different features and has different advantages and so choosing a broker is not an easy thing. Good broker should have a good reputation and offer easy to use trading platform. Try as much as you can to carryout a thorough research until you find the one that suits you trading style and purpose.
I would say to check out conditions firstly. Since the broker might just does not have something you will need. Then find more about the reputation. But you should be carefull about the clients comments. I have noticed that people most likely be happy to share negative then positive, this may lead to the situation that you might think that there are just negative moment about the company.
And support service, how they deal with the clients. This is important I think.
[QUOTE=SeanFX;44]I use CMS right now and I love their charting software, but they can be unstable. Sometimes they crash and i can’t enter orders in, so i think i’m going to look for a new broker. what should i be looking for in a broker? any recommendations would be greatly appreciated
hello
choosing a good forex broker is a delicate task. I always choose a highly regulated broker, which offers a good solid platform of good trading tools, unlimited demo account, low spreads, fast executions, a good customer service in case of trouble more.
Nice George, you can also consider their past records for choosing the best broker. I have changed many broker previously as they were not earning up to the mark. But when I found my current Broker, I have earned a lot and still earning.
Many traders join in Newforex and Liteforex, many interesting and trusting services from them.
In Liteforex, I’ve been join with them for many years.
There are many factors at play when you’re choosing a new broker. First and foremost that broker has to be licensed and authorized to work in the country in question, and finding one can sometimes be tricky -I’ve often heard of brokers which lie on their own sitesabout being authorized, and then it turns out they’re not. Apart from this, I for one prefer a broker that offers low spreads (that don’t increase, or at the very least don’t increase too much during high impact news), good customer support, quick money transfers, etc.
Sometimes the process of finding such a suitable broker takes quite a while, up to a few months even.
agree with you
tried several brokers on internet, some of them , satisfied me with their trading conditions, but took too long in withdrawal process
some of them , proceed my withdrawal very fast,but comes with bad term of services.
and because i am retail traders, i am stick with Tickmill because for a retail offshore broker, they are just right for me with their good trading conditions,
well if you have find a broker that you can trust, stick with them forever untill they change their quality
Frankly, I never understood why brokers bother to lie about this. Information about who is authorized and who isn’t is widely available, someone is bound to notice the discrepancy sooner or later. I suppose they’re counting on total newbies not to realize what is going on. I confess that as a newbie it didn’t occur to me to check such things, but I learned my lesson very quickly.
There are always gullible individuals that can be ripped off. Forex trading is becoming more and more popular, so the influx of potential victims is ever increasing, unfortunately.The FCA even reports that the amount of scam alerts has risen sharply lately, which isn’t surprising, but is still very worrying. People need to be really careful when they pick a broker.
yes,. people must not fall into marketing gimmick like deposit bonus that can lead us into unable conditions to withdrawal or profit or even deposit
and the second, do not lazy to read brokers trading conditons and term of services, and pay attention with broker restrictions, if you do not want to have negative experience.
i read tickmill terms and conditions before opened an account with them and asked their support too, were they had any trading restrictions, and they said no, which is true so far .
at least i can trade the news and they never cancel my profit
Guys,
I read this post with interest. I know there are alot of brokers as everyone is into the game nowdays and if you google forex you will see tons of information which you have to weave through. With that said no one has listed any reputable brokers on this thread. How do you guys check whether they are licensed and regulated? As many of you know anyone can lie so where does one go to check if a broker is regulated? And by the wau I am in the US, what broker is regulated in the US?
Thanks in advance for replying.
Actually paying out withdrawals. Bottom line.
I can workaround all other things they throw at me.
Do not choose company with dubious title
Do not choose company with high fixed spreads and with high leverage (more than 1:500)
It’s hard to highlight just one thing. It’s a portfolio of things. I found the most detailed and organized info here. List, country of origin, regulation, minimum deposit, site and contacts, platform.
Is there anything wrong with Cypriot regulations or is this just hot air?
go for large FCA or ASIC regulated broker and stay away from all brokers which are regulated in Cyprus, Belize, Seychelles or any other dodgy offshore regulator…
Seriously though, if you’re trading with a Belize regulated broker, you deserve to not be able to withdraw your money… Darwinism.
Choose an ASIC regulated broker and you will never have any problem.
Mm, being able to make a comparison is actually a good idea.
It could be worse, you know. You could pick a broker from a country where there’s no regulation whatsoever. Didn’t Russia introduce licensing from the beginning of this year?
Absolutely! Even strongly regulated countries, like the UK, have report scam brokers. The UK’s financial watchdog, the Financial Conduct Authority (FCA), issued on Thursday a notice regarding a sharp increase in the number of consumer reports about unauthorized brokers in the country