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Thread: Who is a good broker?

  1. #1
    jrob195 is offline Junior Member
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    Default Who is a good broker?

    Who is a good broker?

  2. #2
    Oblivion is offline Junior Member
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    It's really difficult to advise, because I don't know your requirements. What platform do you prefer? What is your strategy? What's the minimum deposit you're looking for?
    Search websites, visit forums, demo first. I personally think Metatrader platform is the best for newbies, this is the most logical and straightforward platform in my opinion. For broker you can choose Forex-Metal. They offer mini accounts and have competitive spreads. But this is very personal, so better demo first.

  3. #3
    adams is offline Junior Member
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    Talking

    Finding a good broker is really a tedious task. There are many unreliable brokers out there and every new trader gets the same confusion at start. I think the only way to find a good broker is through other traders. I have been trading with Kerford Investments and so far every thing is good.

  4. #4
    georgeharrison is offline Junior Member
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    The specific parameters that one should look on before choosing a broker is:
    1. Reputation in the financial market.
    2. Certification and regulation.
    3. Spread charged
    4. Facilities provided like daily updates, recommendations, mobile trading, pone trading etc.
    5. Customer care support
    6. hidden cost if involved
    7. User friendly platform etc.

  5. #5
    daniellefr is offline Senior Member
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    No matter how much time it takes to find forex broker that really suits you, it is solaly your responsibility. Every trader is different and all of us have different agendas.

    How much can you invest?
    What is your forex background?
    Do you have any experience with metatrader or you wish to find a more user-friendly interface?
    Do you want spreads or fixed price?
    What kind of leverage are you looking for?
    What is your deposit/withdrawal method?

    and many other questions should be answered before you start searching for a broker. Once you figure out what kind of trader you are, it will be easier to find the most suitable broker for you.
    thinkpad954 likes this.

  6. #6
    forexsys1 is offline Junior Member
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    Quote Originally Posted by georgeharrison View Post
    6. hidden cost if involved
    What is hidden cost ?
    thinkpad954 likes this.

  7. #7
    daniellefr is offline Senior Member
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    Oh there is always some kind of hidden cost - for withdrawals, for overnight, for an non-active account, etc etc!!! I cannot stress enough how important it is to go over Terms and Conditions of a selected forex broker and make sure you understand what is it that you are agreeing to.
    Last edited by daniellefr; 04-27-2009 at 10:36 PM.

  8. #8
    Jenforex is offline Senior Member
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    Quote Originally Posted by georgeharrison View Post
    The specific parameters that one should look on before choosing a broker is:
    1. Reputation in the financial market.
    2. Certification and regulation.
    3. Spread charged
    4. Facilities provided like daily updates, recommendations, mobile trading, pone trading etc.
    5. Customer care support
    6. hidden cost if involved
    7. User friendly platform etc.
    Copy pasted from Earnforex forum bad try by friend.

  9. #9
    daniellefr is offline Senior Member
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    JenForex, nice eyesight!!! I didn't even notice the copy paste. On the other hand, the advice is good, even if it is coming from another forum...

  10. #10
    martha_fx is offline Member
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    Exclamation regulations

    The most important thing is to make sure that your money is safe…
    Look for a broker that is ISO 9001 & ISO 27001 certified; and also that is regulated by the FINMA Swiss Financial Market Supervisory Authority.
    I trade with acm, they satisfy the 2conditions.
    Good luck!!!
    Last edited by martha_fx; 04-30-2009 at 12:27 PM.

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