What safety measure I need to take before choosing any forex broker?
Member Since Dec 05, 2020
81 posts
Dec 29, 2020 at 08:01
jamesmaxwell52 posted:
I don’t pay attention to the regulation or whatever. I just trade and make money. Simple as that.
Is it? Aren't you scared about the scams?
Member Since Jul 09, 2020
39 posts
Jan 01, 2021 at 05:47
The list of what all to consider when finalising on a broker are endless. But my top 3 things to look into are: deposits and withdrawals, leverage and order execution.
Member Since Oct 08, 2020
25 posts
Jan 04, 2021 at 04:12
I consider slippage to be a very important factor. I know that some sort of slippage is bound to happen, but many fractions of a second of slippage is only acceptable. The trading environment that I get with the brokers I am using right now is fine till now. I have noticed that big slippage occurs on any platform when an important announcement is made. I avoid news trading.
Feb 25, 2021 at 12:45
Josuvaphilip posted:Agree with you on this. But there are many reputed brokers around that have quite low minimum deposit requirement like fxview, xm, hotforex and many more.
What about their big trading fees, I feel they aren't suitable for all kinds of traders, especially the new ones who would be better off with a broker that requires low deposits and offers a simpler interface.
Member Since Sep 12, 2017
238 posts
Mar 02, 2021 at 06:18
first thing is regulation and broker type..one needs to be aware for how long is the broker functioning and is it reliable or not..
Jun 28, 2021 at 09:48
Searching for information on a forum with reviews will not hurt you in any way, it is always good to do it. Watch overview videos on YouTube from popular bloggers. Try to trade the minimum deposit to test the broker's conditions.
The success is mine
Jul 04, 2021 at 22:49
I am already found my broker and work with them for more than eight years, so far so good and no problem, this company regulated in ASIC, FCA, and Cysec, namely FXOpen broker, about spread in my view also included low or competitive spread, especially pair USD included XAUUSD.
Sep 16, 2021 at 16:44
Speaking about safety measures, then I guess you should determine whether a potential broker a scam or not. It's kinda easy to determine, you just need to check licenses and apply to customer support. Often customer support give you the understanding that you would better stay off a broker. It replies too long and pretty rude. Scammers don't care about customer support, hence it's awful. Moreover, you have to check withdrawal and depositing process. Actually, there are no issues with depositing, while there might be some troubles with wthdrawals in case of scam. Check these things and make some conclusions.
Oct 14, 2021 at 18:15
There are lots of measures which you need to choose a broker in order to trade safely. For example, you ought to check all the information about your broker mostly because you need to be convinced that everything is okay with and it's not a scammer. There are several ways how to do it. Forstly, you have to check all the information concerning regulations,licenses and certifications. Secondly, you should check client service from a certain broker, how fast they reply, how polite are they and something liek that. Finally, you should check that there are no issues with withdrawing and depositing money.
Nov 11, 2021 at 08:26
The main safety measure is to convince that your broker might be considered as a reliable one. I believe that there are sveral ways how to determine a proper broker. For example, I always chekc three main things in my opinion, which can determine whether a broker is reliable or not. These things are the work of customer support, processes of withdrawing and depositing money, and the presence of regulations and certifications. I think you have to check these things before pick a particular broker as your primary, maybe it isn't the same as you got used to think.
Member Since Jan 22, 2021
125 posts
Nov 11, 2021 at 11:57
I always choose a broker which is registered with a strong financial regulatory body. I have started with pepperstone and traded for 1 year but later on switched to fxview though both are well regulated but latter one is pretty light on commissions and offer tight spreads.
Member Since Jul 23, 2020
759 posts
Jan 04, 2022 at 07:19
A good broker will always be consistent with its services and never cheat on its customers.
Jan 04, 2022 at 17:54
if you trade up to $ 1000, then by and large there is no difference through which broker to trade, the main thing is to like the conditions.
and if the amount is greater, I recommend first of all to consider brokers licensed in your country
and if the amount is greater, I recommend first of all to consider brokers licensed in your country
Member Since Jul 23, 2020
869 posts
Jan 06, 2022 at 04:22
It's an important decision to pick the correct broker as choosing the wrong one may cost you a lot of money.
Jan 13, 2022 at 19:10
The main thing is to be convinced that your broker can be considered as trustowrthy one. You have to check all he regulations, certifications and licenses in order to be sure that your broker execute its duties in accordance with special regulator. Moreover, you should check the system of depositing and withdrawing money. Sometimes unhonest brokers cheat on their traders because of this system. They allow traders to deposit money but they don't let traders to withdraw earned sums. There are plenty of peculiarities actually. In addition, you can check reviews in the internet about particular brokers in order to understand whether this broker recommended itself in trading community as a reliable one, or not.
Member Since Aug 05, 2021
401 posts
May 20, 2022 at 16:11
Always read reviews from other real traders so you can get an idea of things go as far as customer support, withdrawing, and any red flags that may come up. Look out for posts about withdrawal issues. Also, remember that some traders may be angry with the broker when it was actually their fault they lost money, so I try to find multiple comments about the same problem.
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