How To Choose Best Broker ?

Nov 22, 2016
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#18
When choosing a broker there are many criteria. According to my trading experience I will be looking for in a broker if they are regulated or not. Because regulated trading broker always ensures security of funds at any deposits with a wide range of trading technologies.
You are right.Especially the US and UK regulated brokers.
 

Pat494

Well-known member
Mar 27, 2004
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#20
It would be a big help if people who have been scammed by a broker told their stories here and mentioned names. It's difficult to know whether to believe some of the stuff on the web.
 
Dec 10, 2016
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#21
I think there individual threads for most of the major brokers. The comments are generally mixed. I don't think you really know for sure how good a broker is until you use them
 

gerryg

Active member
Sep 9, 2013
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#22
I think there individual threads for most of the major brokers. The comments are generally mixed. I don't think you really know for sure how good a broker is until you use them
Until you make 4-5 decent withdrawals where they will be forced to pay you from their pocket (if its a market maker). Real issues will surface after you will interfere with their big business with your smart activities :)
 
Jun 28, 2016
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#23
Iron FX are not much famous in forex trading . I want to say some one should do trading with trusted and well known broker. Because their actual amount should be safe with broker. One should open account with any broker to see their reliability with less investment.
They are pretty famous if u ask me, but not from the good side
 
Mar 25, 2017
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#24
I feel we simply complicate things for no reason at all. Why can’t we just go for broker that’s properly regulated? I see too many people talk about my broker is regulated or all that, but they hardly talk about where it is regulated from. Most companies now days are running on offshore regulations and have some fairy tale bonuses, it’s the ideal recipe to make newbies invest and the results are far from difficult to predict. I have massive liking for Australian based brokers. Right now as well, I am with FP Markets which is regulated by ASIC and is an Australian based company. There is no bonus or even any type of freebie you could talk about, but I don’t need it especially if I am given choice between genuine service and market marker.
 

gerryg

Active member
Sep 9, 2013
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#25
I think reputation matters the most. Other criterions is going after that. Regulated brokers are audited strictly so it also implies that their quality of services should be also best from what we can have.
 
Mar 29, 2017
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#26
Thank you so much for the suggestion. But I think the best thing is to check the review and reputation before taking a broker for business.
 
Mar 29, 2017
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#27
I think reputation matters the most. Other criterions is going after that. Regulated brokers are audited strictly so it also implies that their quality of services should be also best from what we can have.
Exactly! I said that already.
 

gerryg

Active member
Sep 9, 2013
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#28
The question is does FCA really live up to our expectations? Is it strict enough that it can guarantee no cheating and scams at all?
 
#29
I feel we simply complicate things for no reason at all. Why can’t we just go for broker that’s properly regulated? I see too many people talk about my broker is regulated or all that, but they hardly talk about where it is regulated from. Most companies now days are running on offshore regulations and have some fairy tale bonuses, it’s the ideal recipe to make newbies invest and the results are far from difficult to predict. I have massive liking for Australian based brokers. Right now as well, I am with FP Markets which is regulated by ASIC and is an Australian based company. There is no bonus or even any type of freebie you could talk about, but I don’t need it especially if I am given choice between genuine service and market marker.
ASIC is not so better than CySEC. CySEC behave differently with large brokers. ASIC kinda new and has very limited number of brokers under their regulation. I trust FCA over both of them and ECN trading platform. My account is under FCA Tickmill, and I don’t have to worry about the broker, I can spend more quality trading time and be free psychologically.
 
Oct 3, 2017
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#30
Here's a basic guide in choosing the right broker:
- solid reputation
- ability to offer a tight spread
- funding options because sometimes it is tedious to just do bank transfers
- withdrawal process and options of receiving funds
- online support
- Regulated STP broker