Hi there,
I thought I would throw this topic out to the forum:
[B]When you are looking for a broker and/or you are actively trading with a broker, what do you look for and expect, and [I]why[/I]?[/B]
I can’t think of a better way than to ask you guys directly, so don’t be shy and let a broker know what you think.
Andrew
For me, I don’t really see vindication in the regulation of a broker. What do you think of this?Regulatory bodies are now like FX drones hovering about every transaction in the FX. Yet we have still been entertained to FX terrorism with even regulated brokers criminally bombing the margins of their clients. And this could be because traders have literally thrown away their bunkers of self-protection (in form of decent FX scrutiny and market sensitivity); for the regulatory cops can be wholly entrusted with their security. And what do traders get back? BANKRUPTCY! Is this fair?
I think one should not really see a regulated as some FX chief deserving compulsorily his respect and trust. This is not arrogance but care. I won’t be surprised if a regulated broker dupes me because regulation doesn’t necessarily baptize him into financial morality. If an unregulated broker is more transparent than a regulated one, I don’t see why I wouldn’t go with the former. The truth is FX is a gambling market- a casino market with traders casting lots over currency pairs. Regulation can’t assure you of always having a six on your die. No. The die is still young and rolling with traders’ fortune rolling up and down alongside it. One falls carelessly down in the FX and he accuses an unregulated FX of been littered with banana peels. Ha-ha, FX would only be more hygienic if we can all dump our FX recklessness into its waste bin
The trading platform that offers me my Forex broker must have real-time information and good analysis tools, so I provide daily decision making and help me optimize investment.
I look for and expect for honesty.
There are so many different brokers that offer pretty much the same things. However, most of them have some restrictions that when you think about it they don’t make any sense.
To receive real time information and good analysis tools you need to have a live account with certain requirements. A minimum deposit, a certain amount of volume and so on.
My question is why do you have these limits? The Broker’s profit comes either from the volume (STP/ECN) or from the money deposited (Money Maker).
You cannot say that you are a STP/ECN broker and require from the clients to have a minimum deposit of $10,000. This doesn’t make any sense. This actually states that you are not working as a Market Maker.
You have to find out if the broker complies with the Stop Loss and limits we place on our platforms. It is important because these are the income limits that we would.
You have to find out if the broker complies with the Stop Loss and limits we place on our platforms. It is important because these are the income limits that we would.
Finding a good broker is now very easy. Here was how I able found a good broker despite not being under the US or UK regulatory bodies. I first checked for transparency. In order to know if a broker is transparent, you have to register a micro account and deposit may be 50 or 100 bucks. In most cases brokers usually claim to offer too-good-to-be true trading conditions, but only a few of them actually fulfill such promises. So, if you can trade with them for a week or two, you will find out about all their charges and services and check if what they have promised on their front page is true. Secondly, you must access their withdrawal system and customer support system. In most cases when the platform refuses to close a trade, the customer services are suppose to act upon it immediately. But how will they act on time, when they are not available or too sluggish to help you. Thirdly, a very good MT4 platform is a must. Only a few brokers offers MT4 live platform that is as fast as that of a demo platform. This is very important because a fast execution will help you avoid slippages most times and also secure your pip target. For me, these are the most important things you must watch out for. If a broker is excellently offers these, then you are free to trade whether regulated or not.
One that’s not afraid to deal with US clients!!!
I expect a 0 spread broker, no slippage but seems that’s impossible 
My broker only offers good spread, fast payment but I know who am I so it’s still good for me.
when selecting a good broker i am very much careful about few things. first of all I check the speed of their deposit/withdraw process. Then i look for the quality of their customer support. And then the execution of trades.
Regulated brokers are the ones who places these restrictions. Unregulated and offshore regulated brokers are easier to trade with because they accept everyone and offer the best trading conditions.
I look the fair, honest, never against us while trading and making money in forex…
Right now, I’ve found the broker that fulfill those characteristics. They is Liteforex broker, I like so much making money there,
I agree…
Well, many brokers voluntarily ask for license in order to be among the regulated brokers. Unfortunately, because of these stringent regulation, most brokers have wiped US citizens off their database. The question is; are they offering better trading conditions? NO. Trading conditions are even worst with regulated brokers because you won’t be able to Hedge or even scalp with these brokers. So Sad. What I want from my broker is to give me freedom to explore the financial market.
I think we should choose a broker with lot care and broker should be regulated and reliable and also have low spread,fast execution and goos customer support.
I think we should choose a broker with lot care and broker should be regulated and reliable and also have low spread,fast execution and good customer support.
I expect fast payment, regulation, no cheat, no fraud, no scam, low commission, tigher spread. No delay, requote, market execution And I found no broker can fulfill my requirements.
Broker should be experience enough to suggest in which to invest and brokerage should be charged at minimum cost.
Regulation does play a big role in my decisions. Even some regulated off-shore brokers offer honest and excellent services. I am very cautious in dealing with non-regulated brokers because if anything goes wrong, you cant do much about them. However, it does not mean that non-regulated brokers cant offer good services. Beside regulation, I always want my broker to offer segregated accounts with top-tier banks.