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How to choose a Forex Broker?


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Thank you for your review! I had a lot of problems with researching of this theme. I also spent a lot of time looking for a broker and accidentally found this site Finarm, which has a whole bunch of different companies listed. It's pretty convenient and can give you some insights. I think in order to earn money, we need to know a lot of information.

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  • 5 weeks later...

There are a few things you have to check if you're still a rookie trader:

Security: The first and foremost characteristic that a good broker must have is a high level of security. So check it first. 

Transaction Costs: No matter what kind of currency trader you are, like it or not, you will always be subject to transaction costs. ...

Deposit and Withdrawal: Good forex brokers will allow you to deposit funds and withdraw your earnings hassle-free.. ...


Here I mentioned only three signs of choosing a trusted broker but one thing you have to think, good broker won't work until your trading capability is not fair enough. So learn it then join. If you start immidiately without zero trading knowledge then copy trading is a good choice for you and here ForexCopier can help you out. 

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  • 1 year later...
On 9/16/2018 at 9:13 AM, anna.semera said:

It's all very good reason when you choose a forex broker always check their regulated licence and user opinion.

And more importantly watch out for how long they have been in the market and their trading conditions. One of the reasons I chose forexchief other than being regulated is the fact that they have been in the market for over 8years, which spells good business and credibility.

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  • 4 weeks later...
On 7/31/2018 at 8:29 AM, Eshkere said:

To choose a best broker you have to do research on brokers. You can do research on internet by reading the articles written on forex brokers. You can also discuss with experts in this forum. I hope from this forumyou can get the best advice to find the best broker. 

Good advise,  and it is usually best to have like 2 or 3 brokers on your plates for you to research and compare, this gives you the option of variety. I did this before ending up with forexchief, their payment system was one distinctive feature that attracted me to them. The process is just effortless and worry free with no commission at all.

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The broker itself is a bridge so that traders can carry out trading activities. So, choose a broker that suits the trader's trading style. So that later traders can choose the right broker and help traders carry out trading comfortably and safely with Tickmill brokers.

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On 10/12/2022 at 7:29 AM, Kylie said:

To choose a reliable reliable first we should check their regulation papers even their offices. If you check FreshForex broker's papers then you will see all of their legal papers so you can check. 

Good advise indeed, in fact it was after I saw that forexchief had ways to verify their regulation status and three offices across the world that I started off with them.

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Currently, there are many brokers available in the forex trading business. It's up to the trader to choose which broker is right and appropriate. If it is correct, then take advantage of the facilities, so that it will be helpful to later trade properly on a real account with a Tickmill broker.

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On 10/27/2022 at 8:25 PM, maspluto said:

Fund security is very important, that's why choose a broker that is really safe and in accordance with your trading style. Like I chose the Tickmill broker, because my funds are safe, and comfortable trading.

Exactly, security of funds should be top priority in choosing a broker. When I saw that forexchief provides advanced solutions to control and reduce trading losses through protection against negative balance, it really warmed my heart.

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On 11/3/2022 at 10:21 PM, Breed said:

Exactly, security of funds should be top priority in choosing a broker. When I saw that forexchief provides advanced solutions to control and reduce trading losses through protection against negative balance, it really warmed my heart.

Negative balance protection is a great tool, I'm news trader and I often open high-risk positions where adverse price movement may wipe out my deposit. I don't want to owe my broker that's why I chose the one which protects from this kind of risk and it is Hotforex.

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To choose broker you have to check regulation, live average spreads and speed of customer support. These three key requirements have been developed after 4 years of practice and tests of many brokers. Currently the broker that satisfies this criteria is Hotforex. 

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Just now, pradegxs said:

To choose broker you have to check regulation, live average spreads and speed of customer support. These three key requirements have been developed after 4 years of practice and tests of many brokers. Currently the broker that satisfies this criteria is Hotforex. 

Very good and important factors to consider, in fact you can't afford to joke with the fact that you need a broker with very good and responsive customer support, very necessary as you will always need help every now and then. I have always appreciated forexchief in this regard, always on hand to help.

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Just now, pradegxs said:

Negative balance protection is a great tool, I'm news trader and I often open high-risk positions where adverse price movement may wipe out my deposit. I don't want to owe my broker that's why I chose the one which protects from this kind of risk and it is Hotforex.

Exactly, reason why I am sticking with the one am with, because one has to do all they can to protect their funds and if a broker can help with that it's plus.

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  • 2 weeks later...

Brokers are very important in forex. So I joined the Tickmill broker, where here the capital will definitely be safe. In addition, there are educational facilities for traders, where later traders will be able to understand the ins and outs of forex and also maximize their ability to be even better at trading.

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  • 2 weeks later...

Well to choose broker you should conduct some research, check broker reviews, comparing average spreads, find out which account types and trading instruments the broker offers. Also you should compare average spreads with other brokers to see if you will be able to save on transaction costs.

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Just now, pradegxs said:

Well to choose broker you should conduct some research, check broker reviews, comparing average spreads, find out which account types and trading instruments the broker offers. Also you should compare average spreads with other brokers to see if you will be able to save on transaction costs.

These are good things to look at, but more to these is that you need to know if they are regulated or not. this is key for funds security, giving you that sense of calm and trust when you trade. This is one of the reason why I am still with forexchief, especially that along being regulated, they are also licensed.

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