What to consider when choose a broker?

IvanaO

Newbie
The most important factor to consider in a broker is Regulation (ASIC or FCA), and you can check about the broker on several forum sites for reviews based on other traders that have traded or currently trading with them.
For me the most important is spread.
 

angelandrews

Junior member
There's only one way to find out really, you've got to create a demo account and see where that takes you. I've tried a number of brokers over the years and still can't pick a clear favorite.
 

Elsa50Pounder

Junior member
There are a lot of factors that matter like the broker’s platform, spreads, commission charges, broker’s reputation and the market analysis tools. But the order execution speed is one of my primary requirements which I found fulfilled with hankotrade.
 

1963Falcon

Well-known member
How much do you want it........That is true only question
 

progix

Well-known member
Regulated plus reputed broker should be finalized according to my opinion and we need to go through some thorough research because the broker is the vital part of trading and we can't hand over our hard earned money to any scammer so choose the broker wisely.
 

HeavLeighGill

Active member
1.) Account types that are offered and the minimum deposit requirement
2.) Leverage caps
3.) Fees (including spreads, commissions, inactivity fees, etc.)
4.) Deposit and withdrawal methods + fees
5.) Availability of customer support
6.) Any bonuses or promotions
7.) Online feedback from other users
 

sharabela

Active member
Before choosing a broker, we may look at their commission, spread, taken time on withdrawal and deposit etc. We must do a search on the internet to find out what other clients say about them. There are some good review sites, blogs where we may find some clients feedback. Another thing, we should look at how long they have been operating their business in the market.
 

Inquisitor

Active member
Why regulation?
Is this a serious question?

It is completely obvious why any trader would want to use a company that is regulated because if they don't then any money deposited with a non regulated broker is not protected.

There have been thousands of cases where non regulated brokers have kept money belonging to their supposed customers with no regulating agency to hold them responsible and therefore the money is never returned.

Based on that history it would be idiotic to consider using any company that is not regulated.
 

IceThor

Active member
Is this a serious question?

It is completely obvious why any trader would want to use a company that is regulated because if they don't then any money deposited with a non regulated broker is not protected.

There have been thousands of cases where non regulated brokers have kept money belonging to their supposed customers with no regulating agency to hold them responsible and therefore the money is never returned.

Based on that history it would be idiotic to consider using any company that is not regulated.
So you don't have any Bitcoin then? As that is unregulated........
 

Inquisitor

Active member
So you don't have any Bitcoin then? As that is unregulated........
Why would I need to when I can trade BTC futures with a regulated broker and therefore know that my money is protected?

Of course holding BTC directly has also resulted in a huge number of losses through hackings and scams for so many who did hold it and no way of them ever getting it back. This is the ongoing risk of using unregulated brokers.
 

IceThor

Active member
Everything has risk attached.
I don't need somebody regulating my money, I can control my own risk factor.
Regulators are not there to protect retail traders.
 

Inquisitor

Active member
Everything has risk attached.
Of course it does, robbing a bank has a very high reward but so is the risk. With 90% of traders likely to lose money anyway, what is the point in increasing it to an almost certain 100% by using unregulated brokers?

Are you really saying that it is better to “Gamble” on using non regulated brokers and just hope that they are not criminals or engaged in malpractices to fleece their clients than use regulated brokers where doing so would result in criminal prosecutions and deposited money being protected?

It is very recent that everyone was getting spam emails about how easy it is to make money from forex with links to unregulated brokers that kept all the clients money, many of which came from Israel.

Last year I posted on this thread CryptoCurrency Scam Adverts - Post Your Experiences Here the scam emails for Bitcoin which again all had links to unregulated brokers who kept all the money that people were sucked into getting involved with.
This simply cannot happen with regulated brokers without them being subject to major consequences.

Your posts show you clearly have a vested interest in pushing non regulated brokers so is that because you have a commercial interest in doing so?

It is also noticeable that many relatively new members of this site are also doing the same. All of you keep pushing the same unregulated brokers which probably means lots of multiple identity registrations with the same agenda.

Your quote:
Regulators are not there to protect retail traders.
is complete rubbish.

The front running by brokers in the Jan 15th 2015 CHF currency crisis where they were stalling their clients from being able to get out of trades resulted in many retail traders being compensated at a later date but only those that were using regulated brokers. One thing is certain there was no compensation for anyone using unregulated brokers who were doing the same thing.
 

IceThor

Active member
Of course it does, robbing a bank has a very high reward but so is the risk. With 90% of traders likely to lose money anyway, what is the point in increasing it to an almost certain 100% by using unregulated brokers?

Are you really saying that it is better to “Gamble” on using non regulated brokers and just hope that they are not criminals or engaged in malpractices to fleece their clients than use regulated brokers where doing so would result in criminal prosecutions and deposited money being protected?

It is very recent that everyone was getting spam emails about how easy it is to make money from forex with links to unregulated brokers that kept all the clients money, many of which came from Israel.

Last year I posted on this thread CryptoCurrency Scam Adverts - Post Your Experiences Here the scam emails for Bitcoin which again all had links to unregulated brokers who kept all the money that people were sucked into getting involved with.
This simply cannot happen with regulated brokers without them being subject to major consequences.

Your posts show you clearly have a vested interest in pushing non regulated brokers so is that because you have a commercial interest in doing so?

It is also noticeable that many relatively new members of this site are also doing the same. All of you keep pushing the same unregulated brokers which probably means lots of multiple identity registrations with the same agenda.

Your quote:

is complete rubbish.

The front running by brokers in the Jan 15th 2015 CHF currency crisis where they were stalling their clients from being able to get out of trades resulted in many retail traders being compensated at a later date but only those that were using regulated brokers. One thing is certain there was no compensation for anyone using unregulated brokers who were doing the same thing.
Vested interest?? I just have an interest in broker talk, I find it interesting.
Do you have an actual example of where a regulated broker has gone bust or disappeared and people have go their money back??
 
 
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