What do you look for and expect from a broker and why?

[Hantec Markets]

Hi there,
I thought I would throw this topic out to the forum:

When you are looking for a broker and/or you are actively trading with a broker, what do you look for and expect, and why?

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

 

[gc1]

Safety of funds.

Instant execution (half a second or less on marketable orders)

Low spreads (e.g. half pip on eur/usd, no more than 2-2.5 pip on gbp/jpy)

 

[Hantec Markets]

Safety of funds.

Instant execution (half a second or less on marketable orders)

Low spreads (e.g. half pip on eur/usd, no more than 2-2.5 pip on gbp/jpy)

Hi gc1,
thanks for getting the thread started off!
So do you find that these 3 aspects are strictly linked to your personal preference or to your trading style?

 

[Laurel]

I think most peoples need are similar.

I want safety of my funds first, otherwise there is no sense of trading and making profit.

Secondly, NO REQUOTES and FAST execution. Tight spread for major pairs are also important but now most brokers has similar spread and the spread is tightening everyday.

A healthy deposit bonus is never bad.

Oh, another thing. I need very quick withdrawals. I don't trade with a broker which take long time to process payments.

 

[Als]

Hi gc1,
thanks for getting the thread started off!
So do you find that these 3 aspects are strictly linked to your personal preference or to your trading style?

have given a try to hm demo

expensive and slow

uninstalled

 

[Hantec Markets]

have given a try to hm demo

expensive and slow

uninstalled

Hi Als, whilst I would have to disagree with you on both fronts, at the end of the day it is your opinion and we are grateful for it. But more importantly, to stay on topic, what do you expect from your broker and why?

 

[Als]

Hi Als, whilst I would have to disagree with you on both fronts, at the end of the day it is your opinion and we are grateful for it. But more importantly, to stay on topic, what do you expect from your broker and why?

1.regulation

2.segregated

3.ecn commition only

4.instant execution

5.one click plugin(floating tiny window)

6.rebate for volume monthly

7.no hidden charges(all costs for trader declared on website)

quality service does not come cheap as we know

but 100% transparency brings trust

and possibility to define value for money of a broker

 

[Bat]

1.regulation

2.segregated

3.ecn commition only

4.instant execution

5.one click plugin(floating tiny window)

6.rebate for volume monthly

7.no hidden charges(all costs for trader declared on website)

quality service does not come cheap as we know

but 100% transparency brings trust

and possibility to define value for money of a broker

I think that:

3.ecn commition only
4.instant execution

are incompatible.

EСN - this is a market execution.
IMHO

 

[Als]

I think that:

3.ecn commition only
4.instant execution

are incompatible.

EСN - this is a market execution.
IMHO

i mean execution at market(accept in any kind)

so if it is incompatible that only with plugin to delay order

 

[6am]

Fair "manifest error" policy. Made a mistake -> pay for it. That condition pretty much rules all brokers out. :cheesy:

 

[Als]

policy is just a good will and no more than that

mutual trading obligations and conditions must be written in the contract

to exclude any tricks

if you see such thungs like

".... In that respect, on the SWFX Swiss Forex Marketplace, Dukascopy is counterparty of each trade and counter trade, In some circumstances, Dukascopy may not hedge entirely or may not hedge at all certain trades, In such cases, Dukascopy may have opposite positions towards Users."

you should expect unpleasant surprises

this is why brokerages prosper but 90% of traders are losers

 

[St.Sarah]

Hi there,
I thought I would throw this topic out to the forum:

When you are looking for a broker and/or you are actively trading with a broker, what do you look for and expect, and why?

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

1. no freezes
2. low spreads
3. fast execution