Thanks to share this list with us. I want to just add:
6. Checking broker's previous record.
5 Ways to find a good broker.
- Thread starter Dexter
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Thanks to share this list with us. I want to just add:
6. Checking broker's previous record.
Broker's previous record means what traders think about brokers who have been used their services.
1. im just new to this business but i think good real brokers usually require high minimum depositing
2. i agree with that
3. instant execution of orders is too important to me, im upset with some brokers for the slow executions and the requotes
4. i also read that good brokers dont offer educational courses
5. i dont care much for the leverage
Yes, Mingbao, the money’s safe, good customer support and brokers’ reputation are very important when choosing forex broker. But there are not the principles for choosing brokers. Please read the post I had posted before in this thread: http://www.earnforex.com/forum/f4/5-ways-find-good-broker-7774/#post21622
I think it will helpful for you.
Hi Humie,
Sometime traders maybe meet this kind of situation. They don’t like their forex broker now, want to choose another one. But after last chance, they don’t believe in any posts or reviews on the internet. These principles for choosing forex broker are needed for every trader. Also, after you have these principles for choosing forex brokers, you can go to other sites for forex broker to check their details and reviews.
Hi there!
Yup! I have progressed beyond the demos to live accounts and as far as my experience goes, not all the demos operate the same way the live accounts do..
Hard to believe at first but all true. So for any newbie out there, you may wan to set up a few demo accs, try it out and when you move on to a micro or a mini lot, make sure that the real account works the same way, speed, accuracy, no slippage etc.
Yup! I have progressed beyond the demos to live accounts and as far as my experience goes, not all the demos operate the same way the live accounts do..
Hard to believe at first but all true. So for any newbie out there, you may wan to set up a few demo accs, try it out and when you move on to a micro or a mini lot, make sure that the real account works the same way, speed, accuracy, no slippage etc.
The best way for beginning traders to find a broker is to contact the National Futures Association. This organization monitors brokerage firms and brokers in the currencies market. It is one of the best sources of information on a brokerage firm.
Here are a few points you should look for in your broker:
1. Instant automatic execution of orders.
2. Low minimum account openings.
3. Some leverage, if you are a beginner then you want small leverage.
4. Low spreads.
1. Instant automatic execution of orders.
2. Low minimum account openings.
3. Some leverage, if you are a beginner then you want small leverage.
4. Low spreads.
Really, does an NFA recommendation of a broker make him an FX saint? A friend told me some also have been whitewashed to believe FX is now a safe financial haven with regulatory bodies sieving the market heavily into good moral uniformity. That the FX market is becoming a close cousin of utopian markets. But this could be false; in fact can I say it is a financial hallucination and it is more of an FX political propaganda than it is true? FX would never be safe without clients claiming responsibility for their safety. This is what I was made to understand, are they right?
My personal view is that if you got security, which comes mostly through regulation and such stuff then I don’t think there are too many other things one need to locate. However, I know from my personal experience that there are many scamming companies out there, so got to be pin point with selection!
