How to find a Good Forex Broker

[budado]

By saying good broker site does it mean its only paying or its regulated broker site? If its regulated that you are looking for then I guess you need big capital to start with. Because most regulated broker sites has high minimum to invest. And regulated broker sites does not allow scalping and hedging. But if its okay for you to try semi regulated or unregulated but trusted broker site then by all means you can use it as well.

 

[sindarin]

Good brokers i think a broker that have a lot of trust from other traders, regulated or semi regulated that is not a big deal for some traders, in fact there are some of them that prefer brokers which have low deposit especially for newbies who want to start in forex, also forex broker that have some kind of partnership with forum that talk about forex.

 

[SamForexTrader]

I think you can find a good broker by every time trading with a new one and then choose from them the one which best correspond your needs. But in general a good broker for me is the one which holds deposit and especially withdrawal procedures as fast as possible.

 

[indieover]

Yeah if I don't experience loss of my money in my account then it is good broker specially makes fast withdrawal and support different ways of withdrawal. And allows cent account. So I think that is what we have been looking for in a broker.

 

[sindarin]

Loss our money means that brokers isn't good broker. if we loss our money in trading that is fine but if there are something fishy happened even we don't trade our capital then there will be big mark question in our head for the brokers that we use, especially if that broker has bad contact support.

 

[eddiej]

Yeah if I don't experience loss of my money in my account then it is good broker specially makes fast withdrawal and support different ways of withdrawal. And allows cent account. So I think that is what we have been looking for in a broker.

I totally agree with you there buddy. Also, a broker musn't hide anything from their clients (hidden charges, extra charges on spreads etc.) that's why I stick to my broker, profiforex. Always 0.3 pips comission for the whole deal, not hidden fees, etc. I hope people would put a lot more thought in to choosing brokers, they can make or break the trader.

 

[riddick09]

Well, we should have know the basics on those charges, like the charges in the payment system and if they will have commission for every withdrawal we will make. And the spreads are for sure listed first here as their offer or feature in their website. I don't see any thing to be on hidden charges but we should know those common ones.

 

[Daisy]

I also think that trading with a trusted brokers who are not scammy will also be helpful in crisis time. Look at LR, some even loss at their brokers, so we also want to be able to withdraw profits any time we like. Also, we want them to have less snipping and low spread. We also want one that has advance trading platform and one that offer many types of bonuses and rebates.

 

[Cutiekc]

I also think that trading with a trusted brokers who are not scammy will also be helpful in crisis time. Look at LR, some even loss at their brokers, so we also want to be able to withdraw profits any time we like. Also, we want them to have less snipping and low spread. We also want one that has advance trading platform and one that offer many types of bonuses and rebates.

Thats why it is essential that we trade with good brokers because that way even at the time of crisis a good broker like mayzus that knows how to manage the money wasnt even affected they kept on with their business and even kept paying at their forums.

 

[gkintl]

Searching and locating a broker should be based on the needs of an individual. Even the best of the brokers may not suit some traders. For some traders, the speed with which deposits and withdrawals are processed is of prime importance. On the other hand, to some traders, it would be the spread, customer support or payment processor. It may be even the jurisdiction in which the broker is located. Thus, a trader should list out his priorities and then go in search of a good broker. It would enable him to identify a suitable broker very quickly.

 

[Decub]

Some traders have very weird wants and expectations from brokers and some times, they fall into the hands of the wrong ones. A trader might develop interest in a broker just because he knows of someone who is profitably trading with it and every other factor becomes negligible. The choices could as well differ from their previous experiences of the broker which guarantees such preferential treatment.

 

[Markllee30]

When I was in need of broker I've consult with my friends who were already in fores trading and also I've search on net then I've selected three to four brokers then start comparing then about their features and facility provided also opened demo account in them, after comparing choose one.

 

[sindarin]

When I was in need of broker I've consult with my friends who were already in fores trading and also I've search on net then I've selected three to four brokers then start comparing then about their features and facility provided also opened demo account in them, after comparing choose one.

Consult with your friend is okay, but make sure your friend is good enough and also have a lot of experience in forex so they can chooose the best broker for you but one thing that come from me is that broker must be a regulated broker, at least in FCA for UK based Broker and CFTC for US based Broker.

 

[jackcm]

Consult with your friend is okay, but make sure your friend is good enough and also have a lot of experience in forex so they can chooose the best broker for you but one thing that come from me is that broker must be a regulated broker, at least in FCA for UK based Broker and CFTC for US based Broker.

I prefer brokers which are regulated by CFTC and NFA (US). After what they did with "most trusted broker in Europe" FXDD, I now completely trust the way they work.

 

[sindarin]

I prefer brokers which are regulated by CFTC and NFA (US). After what they did with "most trusted broker in Europe" FXDD, I now completely trust the way they work.

FXDD is market maker so the more you loss the more they happy but they are regulated market maker so that is why many people trust them and as like you said they regulated by CFTC and NFA, but there are other brokers from europe that also regulated by their own regulator, like Dukascopy.

 

[haneefzain]

There are many forum and reviews sites available where you can find a best broker..You can ask any professional traders..there are so many sources available on the internet where explain proper detail about about so many brokers...

 

[Daisy]

Stay away from high spread brokers cause its hard to make money scalping with high spreads. I have one with high spreads and I do not like it. Also, they technology must be really fast and efficient and its not good to go with slow ones as slow ones can screw up your scalping trades. I also like non- scammy one obviously. You can read reviews on Google to avoid scammy ones. I also prefer places like Etoro or Zulu cause the world is on there so well known and trusted.

 

[budado]

Invest some money in real account and then try to withdraw. Try to check if you going to get paid or not. Usually this is what I do. I invest then I cashout. If investing and cashing out is smooth. I usually end up trading full blast again.

 

[gkintl]

Some traders have very weird wants and expectations from brokers and some times, they fall into the hands of the wrong ones. A trader might develop interest in a broker just because he knows of someone who is profitably trading with it and every other factor becomes negligible. The choices could as well differ from their previous experiences of the broker which guarantees such preferential treatment.

A broker should never be chosen because he is very much preferred by some one else. Selection of a broker should be based on trading style, needs and aspirations. A trader may look for quick withdrawals while some other trader would give importance to spreads. Thus, their expectations may or may not be fulfilled by the same broker. In such situations, a trader should list out his requirement and then start the filtering out process.

 

[Decub]

A broker should never be chosen because he is very much preferred by some one else. Selection of a broker should be based on trading style, needs and aspirations. A trader may look for quick withdrawals while some other trader would give importance to spreads. Thus, their expectations may or may not be fulfilled by the same broker. In such situations, a trader should list out his requirement and then start the filtering out process.

That is what I'm trying to say and in the real sense, some traders are just very good at subscribing to recommendations - IB you may say and just because the goose finds it credible, it definitely is. Our choices, wants and needs vary and it still reflects on the way we choose things in life.