Discussion in 'Forex - Currencies Forums' started by dariel2323, Aug 12, 2014.
I would invest in a safe broker, reliable, low commissions, etc. Please help me.
I prefer to use brokers regulated by CFTC, FSA and NFA like
It is very important to use brokers that are properly regulated by the regulatory authorities the reason for this is that in the event of any default the individual is rest assured that he will be covered and well taking care of .FXCM,IBFX or CITI FX are nice options.
Ditto to the excellent advice about only working with brokers that are well regulated by governing agencies.
Where you live (or are a citizen of) will also narrow your choice of suitable brokers. For instance, to the best of my knowledge, Americans can't use brokers from outside the country. And non-American brokers face penalties for accepting Americans. Personally, I like Oanada -- they accept paypal deposits and withdrawals, and have a very minimal requirement for account size, which is always nice when you aren't familar with a broker or the industry). Main downside is they charge a hefty $15 fee for the 2nd withdrawal of the month.
The key is to understand how it really works and who is right to work with. I was losing funds to a broker and by the time i realised it, i had already lost $52000 which was over half of my savings. I met a friendly trader and she directed me to the recovery agent Mr Bart Kasch. He helped me recover all my money, every penny. Referred him to friends and colleagues already, you can contact him if you need help at [email protected]
A broker is an important element in forex trading. Without a broker a trader cannot trade in the forex market. It is the main duty as a trader is to choose a good broker or him. There are a lot of fake or scam brokers in the market. So, it is really difficult to choose the best one from all of the brokers in the forex market. I had the same problem while I was choosing a broker for me to trade. At last I found Tpglobalfx. They are really great in all sectors. They give low spreads starting from 0.01 pips. They also give a maximum leverage of 1: 500. They also provide 24X5 customer service to their account holders. They also have diverse tradable instruments. There are 56 pairs of FX on their site. So, overall it is the best broker for me. I am still trading with them.
Following factors should be considered before choosing a broker:
2. Good Support and Short Response Time.
3. Provides a demo account.
4.Good trade execution speed.
I think most of the traders fail because of their wrong choice of brokers. Though you have a lot of knowledge about forex, a wrong broker can put you in danger. I am trading for a long time. In the very beginning, I faced so many problems to choose my broker. I was searching for an advisor who can suggest me a good broker. I found AtoZ Markets. They help me to choose my broker by their brokers' review. From there, I compared a lot of brokers an choose the best one.
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