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Guide on choosing a forex broker


Aikhen

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The retail Forex market is very competitive as there are literally hundreds of different brokers. The process of choosing a broker can sometimes give you a headache as there are multiple issues to consider. In this section, I will share the primary qualities you should look for when picking a broker.

  • Transparency
  • Security of Funds
  • Transaction Cost
  • Execution Model
  • Systems reliability
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You must choose one that is well know, well trusted, been in business for a long time, have no scamming history, and do a history search of them on Google and you will see everything on there. There are many fishy ones so do bear that in mind. Even good ones want to take money away from you so you must be careful and not deposit all of your money in there cause its easy to put in and hard to withdraw so just keep that in mind as well. I think forex brokers are many but only few are good so read reviews carefully and they must be regulated as well. 

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  • 1 month later...

One of the first and best things to consider when choosing a Forex broker is the regulatory status. That is definitely what makes the whole difference. A regulated broker will give a trader some degree of assurance that at least,his funds are in safe hands. More so to it, the body that regulated the broker is just as important as the regulatory status too.

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One of the first and best things to consider when choosing a Forex broker is the regulatory status. That is definitely what makes the whole difference. A regulated broker will give a trader some degree of assurance that at least,his funds are in safe hands. More so to it, the body that regulated the broker is just as important as the regulatory status too.

 

We must choose regulated broker which guarantee their clients fund. We also make sure that broker give convenient service for us so we can feel comfort when trading. We can find a good forex broker recommendations from various sources, but it is better to try the performance of the server with the usual free account offered by the broker, like 15 EUR from Armada Market before we trading using our own money.
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Traders seeking the most secure, accessible and responsive trading conditions always choose TenkoFX. We provide constant, split-second access to the markets via world-class trading platforms cTrader and MetaTrader, and with mobile apps that enable trading though your smart phone, tablet or other mobile device, from anywhere in the world, you will never miss an opportunity to make a successful trade.

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Yes, we have instaforex in the list already but I think we do want also to have tried other forex brokers. Although, its good to have the comfort broker we have already. That's why its also determine the eagerness of a trader to trade well by having a good forex broker with a good support and good offers.

yes indeed insta forex is now one of the best forex brokers in my view as well, it's reputation is also very good on the internet and it is now gaining more popularity. and this is what most people look for in a broker people decide to join a place by hearing other's opinions who are already members of the broker.

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You are the artchitech of your trade so everything all depedn on how you want it because from the look of things some of things which you need to consider is for you to visit the site check if what is the required amount of spread which they charge if the site charges higher trade then swap to another also check if they get registared

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@tray, I like that word but let's say the trader is an entirely new traders who's got no trading knowledge or even know what it is to choose a good broker, then one would outline some things to look out for besides regulation, perhaps spread, customer satisfaction which can always be gotten from reviews.

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I think if I were to choose a forex broker, I would have some points in my mind as well first of all I would see it's minimum deposit because some have high minimum deposit which is not much affordable and next I would see if any forums support and pay directly to the broker account where I can use them for trading directly.

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one of the criteria for choosing a broker to be used is the speed the process of withdrawal and deposit using a variety of methods suitable for the trader. FBS is the best broker I've ever traded with (this is only based from my experience)! Fast execution, very helpful support day and night. Fast deposits and withdrawals.

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If a trader wants to choose a broker, he or she should be choosing a broker that is regulated and the broker. A regulated broker is good because it will make the trader not to be having the doubt that the broker will scam him or her. There are many brokers right now which are regulated and which the trader can choose in other to trade with them.

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In my opinion it is not easy choosing good forex broker. If we just look at the website and all products have services in the broker is not necessarily a good broker. Personally addition to regulation and bonuses, I am more interested in the brokers who have had a good reputation and have a long stay to survive with many good reviews from many forums and websites. FBS  So far so good. I also recommend them to my friends that wanted to get started in the business

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Very well for novices I think marketiva has each and every point is important to commence investing, you may have cost-free of charge income to trade and Dwell support and member chat. But anyhow authentic forex broker are managed, just perform a little study in excess of it. 

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That is for you one funny things which you need to know is that all the forex brokers have in and out for sure so there is no way which you will tell me that marketiva is the best no and never marketiva is not the best for me I think I am satisfy with my broker

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When comparing Forex brokers, it is crucial that you know what, exactly, to look for. To that end, we’ve put together a checklist of must-ask questions:


 

1. Is the Forex broker regulated? Before opening a trading account, check the broker’s Forex regulation status. Traders are advised to avoid trading with non-regulated brokers, as these are often the source of Forex trading scams. 

 

2. What are the transaction costs? Every time you enter a Forex trade, your broker will charge you a commission or the spread (the difference between the Bid and Ask prices on an asset). Accordingly, choose a Forex broker with the lowest spreads. 

 

3. Is the trading platform user-friendly? In Forex trading, most activity takes place on the trading platform. You should make sure that your potential broker’s trading platform is user-friendly and intuitive, and that it clearly displays the information you’ll need, e.g., account balance, risk alerts, news feeds, technical charts, etc. 

 

4. Does the broker fill your orders at the exact market price? Your broker should always fill your orders at, or nearly at, the price you see when you click “Buy” or “Sell.” In Forex trading, it is normal to lose some pips during times of intense market volatility, but this should not happen under normal market conditions. 

 

5. Does the Forex broker offer trading tools? The best brokers will offer you a Demo Account, easy access to trading charts, SMS trading alerts, mobile trading options, daily market reviews

 

Now, I have this all criteria in FBS

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traders should focus on services, regulation and reputation. good brokers has all of those aspect which enabling them to attract many investors or traders to join. require to read reviews to judge brokers quality. we should not join just because brokers offering high bonus of capital.

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