What is the first thing you think about your broker?
- Thread starter TheLastBear
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I think my broker should be trusted so tht my amount will be in safe hands. I have to deal all transactions by broker. I need a low investment . I see a broker who offer minimum investment, sufficient leverage and good order execution.
He must be expert in that field either its Binary options or Forex Trading,because its not a quite simple job to handle entire broking traders.
never thought of that, now that i think about it, hmmm my broker? I guess the first thing that pops up in my head is they are good. or im just lucky 🙂
Well, tight spreads, great prices..that's about the only thing I can think of when it comes to my brokers, from traders way to fxcm. As for alpari, they are okay..just about.
I did toy with the idea of using onada but after reading some of the er..reviews and issues, opted out.
I did toy with the idea of using onada but after reading some of the er..reviews and issues, opted out.
The first thing I think about a broker is whether he is accountable. I dedicate bags of brains (thoughts) to this issue because once you miss this; all your dreams would be fairy forex castles built in the air. Worst of all is that this virtue is not guaranteed by even regulated brokers. This could be shocking as some highly reputable brokers still racket, stop hunt their clients and even bite them with hidden charges. All in all, transparency of a broker comes first before the spread, leverage, customer support, execution speeds, platforms etc comes in. And if a broker has this primary ingredient, then I am sure he can cook me enough pips, whether he is licensed or not.
Before now, what I first looked for in a broker is his regulation. But I paid dearly for it- I learnt the hard way. Yes, my regulated broker who was just a bucketshop in disguise enriched himself with my deposits, stuffing me with requotes, widened spreads, it was a fellow client that let me on their secret that they bug their softwares (expecially EA manipulations) and calculatedly slow their servers so that orders get evil execution. At first it sounded weird, it was after they froze my account upon withdrawal that I discovered that even offshore brokers could be more transparent.
I trust facts. And when choosing a broker, I am primarily based on its technical performance. What does FreshForex give ? Presice quoting up to 10 cents. High-quality execution of orders. Smooth platform. They also offer accounts for long-term trading and scalping. Finally - withdrawal without problems.
regulations is a must, and decent market competitiveness i guess, something that would prove them worthy etc.
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