Choosing a Right Forex broker

[naninov]

Need some advice ...
For beginning Forex traders, what are the things to look for while choosing a right Forex broker?

fast execution order
supporting e-currency payment
fast deposit and withdrawal process
scalping welcome
low spreads on major currency
and good customer support
that's enough for me:32:

 

[budado]

Its very important the before we commit or invest big amount of money we always try to join demo account first. Try to ask chat support all the questions that come to your mind regardless if its sound like nuisance. Because you will never going to know what will going to surprise you.

For example in my case I join many broker sites already and the rules are always this. You can withdraw on processor that you use to deposit. So I assume that all broker site are the same in that rules. But guess what? I join a broker site that accept paypal deposits but not paypal withdrawals. stupid right?

 

[Syrine22]

I think that is kind of absurd.how can one get to join a forex site that accepts a different payout when withdrawing and depositing??i think that is the major reason we need to do the necessary investigations before going ahead to join any program.

 

[budado]

I think that is kind of absurd.how can one get to join a forex site that accepts a different payout when withdrawing and depositing??i think that is the major reason we need to do the necessary investigations before going ahead to join any program.

Simple. If you are using LR and suddenly LR when down because of maintenance and you need money then what will you do? That's why its very important that you know how to diversify your money. Right now I can withdraw my funds via LR, via PP and via bank transfer. So in case that I want money and LR is down I still have PP if PP is also down I can still ask for bankwire. If its still not available then I can use okpay. So I don't see any reason way its absurd as its the function that I'm after and not just simply because its cross into my mind. And right now I have eight active accounts in forex in four different broker sites for the main reason. Diversify.

 

[riddick09]

Well, if LR is down for it will be also a big hindrance also for forex brokers as they mostly merchants of LR and will have lowered the reputation of LR. Anyway, it is still the best to know other payment processors to have alternatives and not only to rely one payment processor.

 

[indieover]

I think a lot of broker are using different kind or methods of payment. So it's not a problem at all. Although I would still prefer to be in a broker using liberty reserve because of the low fees. And it's important that the broker does not charge any fees except system fees of the payment processor.

 

[Tirus]

Its good to have options like in the case of Payza as I was using it on UWCFX. When Payza changed their rules it was removed as a payment processor on the broker site. I then had to chose a different payment processor as alternative and I knew right there and then what the replacement would be because I knew the options.

 

[riddick09]

From what I see most of the forex brokers already exclude payza in their payment methods. And it is included in UWCFX broker as they don't have payza but they have LR and others but I prefer brokers with LR. And usually most of the brokers used LR in their payment methods.

 

[indieover]

I just don't know why most brokers have not accepted payza anymore. So I just hope we would have some clear explanation if it's the fault of the broker if just payza doesn't allow their service to include forex trading.

 

[ProTrader]

I just don't know why most brokers have not accepted payza anymore. So I just hope we would have some clear explanation if it's the fault of the broker if just payza doesn't allow their service to include forex trading.

Payza is hard to deal with and personally I don't use payza server.

If you search for payza brokers then check this Payza (Ex-Alertpay) Forex brokers | Online Forex brokers with Payza payment

 

[Syrine22]

Yeah that's true.i as a person wouldn't be doing forex with a payza account and that is majorly because what they the take in as fee from users isn't in anyway encouraging.sincerely i would prefer LR everytime.

 

[budado]

PP is really want I want as main processor. Its because its easy to withdraw in my country. In fact if you have 200 dollars or more its free to withdraw in our country. That's why I like paypal so much. But LR is my second choice but since theirs a lot of broker sites that have LR. I withdraw LR most of the time.

 

[Syrine22]

I think what i major would be liking is LR brokers since they are majorly the ones accepted in my country while PP ain't accepted in my country.i just hope to make use of them somday to increase my earning means online at every point of time.

 

[budado]

[MENTION=237]Syrine22[/MENTION]
Its really good to use LR if you don't have paypal in your country. Even me who has paypal and like to have a paypal account still have majority of my profit withdrawn in LR simply because its convenient. Although I feel more secure in paypal. So its always about convenient and secure. But since I'm earning about 100 dollars more or less in forex a month. I still do feel save using LR. But I guess once I'm earning in thousand of dollars I need to concentrate in paypal.

 

[riddick09]

Traders don't prefer paypal for trading or withdrawals in forex brokers. Most of us will just choose the brokers with the Lr option. And apparently, all of the brokers that I know are using or do have LR in their payment method and LR is really merchant of the brokers.

 

[Tirus]

LR is actually more convenient indeed for many people that are earning online. This is because most of the transactions that we are doing that are related to earning online can be processed in LR like for investments. That makes it easy to have funds to trade with available or to even use profits when you withdraw them for other investments. This is a consideration therefore when looking for a broker.

 

[riddick09]

Because LR accepts investment programs like forex brokers. So, obviously they are the most convenient for the broker and don't have issue in these programs. That's why also we have up to now LR because they have these programs. Yes, though, I think its already "default" for forex brokers.

 

[monyitomon]

All the Forex brokers that I know is also accepting Liberty reserve so I know it's one of the things that we should look at, the payment processor that is being used, but if you really prefer to use your Liberty reserve then I don't see any problem.

 

[Syrine22]

It is great to use LR to trade but i as a person if even after i have concluded on the broker i want to use i would still have a close relationship with he or she before i would be jumping to make use of them.sincerely a great relationship is amongst my criteria of choosing a forex broker.

 

[sindarin]

my favourite forex broker is forex broker which have mini account , why? that is where i can get bucks when i trade , and they have low minimum deposit and i like it with that low amount i can trade easier in forex and also it give me more chance to earn from forex.