Choosing a Right Forex broker

[sindarin]

Choosing a forex broker should be based on the trading strategy, specific requisites and aspirations. For a trader, quick withdrawal may be the prime criteria. To some other trader it may be spread or hedging facility. Depending on the trading style and specific requirements, a broker should be chosen. Just because a forex broker fits someone, it does not mean that every body will feel comfortable with them.

Even with quick withdrawal it also not enough, i advise to you to look a broker which does not accept 3rd party like Egopay or other unregulated e-currency if you don't like the risk , and also see if they accepted or regulated by FCA, CFTC, and other reputable regulator that guaranteed your money.

 

[Cutiekc]

Even with quick withdrawal it also not enough, i advise to you to look a broker which does not accept 3rd party like Egopay or other unregulated e-currency if you don't like the risk , and also see if they accepted or regulated by FCA, CFTC, and other reputable regulator that guaranteed your money.

Well, about payment processing issues, I think that there is nothing wrongg with that in the sense that payment processor are being acceptes in accordance to investors choice and demands, like in the past mayzus made use of the defumct LR.. That does not mean that they ain't regulated or trusted.

 

[sindarin]

Well, about payment processing issues, I think that there is nothing wrongg with that in the sense that payment processor are being acceptes in accordance to investors choice and demands, like in the past mayzus made use of the defumct LR.. That does not mean that they ain't regulated or trusted.

without unregulated 3rd party it is better but it still fine if they accept 3rd part which means your way to trade in forex is open widely but your money will have much problem, you can see that big broker such as Alpari UK or OANDA does not use unregulated 3rd party, or you can see DukasCopy.

 

[hasan87]

Choosing right broker is very important for getting success in Forex market. With the increasing of the number of Forex traders there also increase the number of Forex brokers. To get success a trader also need good support from his brokers. Otherwise it will be very difficult to earn profit from this Forex business.

 

[jackcm]

without unregulated 3rd party it is better but it still fine if they accept 3rd part which means your way to trade in forex is open widely but your money will have much problem, you can see that big broker such as Alpari UK or OANDA does not use unregulated 3rd party, or you can see DukasCopy.

This could be a way to know whether some broker is reliable.

As I see, reliable brokers only accept wire transfer due to safety, they even don't accept Skrill and Paypal which are widely used.

By that way, I don't trust any broker that uses many third parties for processing payments.

 

[Decub]

This could be a way to know whether some broker is reliable.

As I see, reliable brokers only accept wire transfer due to safety, they even don't accept Skrill and Paypal which are widely used.

By that way, I don't trust any broker that uses many third parties for processing payments.

Really, but there are still those accepting third parties that one can still trust irrespective of the payment system. I feel that why some avoid certain processors are just the doubt of the safety of the traders' money as they hardly would trust any.

 

[jackcm]

Really, but there are still those accepting third parties that one can still trust irrespective of the payment system. I feel that why some avoid certain processors are just the doubt of the safety of the traders' money as they hardly would trust any.

I'll take InstaForex and FBS as examples. They are quite big brokers in Asia and they are awarded by World Finance and Global Banking and Finance. As I see there are many ones in Asian countries trust them but not me. I just think if they want to do business seriously, why they can accept those third parties? They should not do that so as to protect themselves and their clients either.

 

[riddick09]

I don't know why you do don't accept third parties. And because, they know that they can have increase of the investors and clients if they will have third parties aside from the bank wire or other common transfer. Though, I think that because, not all are able to have those banks or the broker itself has limited method as they can't provide in every country those offer.

 

[Daisy]

I don't know why you do don't accept third parties. And because, they know that they can have increase of the investors and clients if they will have third parties aside from the bank wire or other common transfer. Though, I think that because, not all are able to have those banks or the broker itself has limited method as they can't provide in every country those offer.

They have to use third parties since not everyone can do bank wire for safety. It took longer and more fees for bank wire as well. And some don't want to expose their personal bank info that way. This is why I prefer paypal or skrills. I do not want anyone to know my checking account numbers in case of hacking. Its not safe either to use bank wire for the traders.

 

[Decub]

And not safe then to use third parties also. But if a broker is regulated, there are some degree of trust that could be given to him in the area of using bank wire. The case of LR thought so many people some lessons and that's why they are trying to avoid things of such nature.

 

[riki143]

You can use this criteria:
1. The legality of the briker
2. Company address is real
3. Forex award winner
4. Customer review about this broker
5. Bonus and promotion
6. Easy to WD the profit
7. No restriction to use EA, scalping, hedging..etc

 

[UMOFX AIR]

Choosing a right broker is a main step to go to forex market. Broker should be regulated by any financial authority that ensures safety of your amount.Then his promotions should be good for traders so that they can trade as they want.

 

[Pettyeve]

We should choose brokers that are regulated and that meet our personal need. A regulated broker will give you peace of mind that your funds are in secured hands. Brokers that are offering low spread will make you not over spend on spread. Then some of the things a trader will be needing when choosing a broker will depend on the trader's choice. I don't like using brokers that don't offer third party withdrawal and deposit because I don't like linking my account with online activities because I have been a victim of that.

 

[sindarin]

Firstr check their regulator is that just a unknown regulator or not, and also make sure that regulator is the credible one. next what is that broker, i mean is that non dealing desk or dealing desk broker, i prefer non dealing desk broker

 

[budado]

If we want to choose a right broker site we really need to make sure that we know how to handle our trading account. I do know that having a right broker site will not going to make us earn money if we don't know how to trade in the first place.

 

[xshot007]

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

Some tips for choosing forex broker:
1. Check the broker legal.
2. Check the company address.
3. Check the user opinion about this broker.

 

[Decub]

Other trader's review is quite important when it comes to choosing a broker. A broker can't be bad and people would write a good review about them. The traders which receives some good review from other traders must have had some good part of them.

 

[willy]

yes it is not difficult to choose your broker try to write the important parameters you want it in the broker which you will open your real account with it and then open demo account to test the chart if it is stop or be offline sometimes like insta or if the broker making your orders very slow

 

[Dmitriy Ushakov]

Before settling business with any broker, you need to: 1.Check if there is a license.2. Find about reliability rating of the company. Although, of course, the highest rating given to your broker - is certainly a good indicator, but we should not overestimate its importance, since, unfortunately, the rating agencies are not always impartial in their assessments. 3. And finally, find about comfort of working with a broker and opportunities offered by a broker. Here you have to be based on your needs. In general, an approach called "the more the better" works here. That's how I chose freshforex as my broker and until now I have no questions about this broker.

 

[gabanda]

I have found the right broker. Trading by using the right broker will be very beneficial for us. We can trade with leverage if we could get the right broker. For now, I have been comfortable trading in instaforex, so I just need to be able to maximize capital well