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Selecting a broker ..

Sarah09

Member
Selection of a broker is not an easy task at all. I remember the time when I had asked no. of friends for opinions on brokers, also reading broker reviews on various sites as it is a matter of money but after all the research i ended up choosing fxview and it luckily proved to be the right decision.
 
My advice would be to select a broker that is suitable for your trading method. For example, I'm a scalper and choose FP markets because they meet the conditions like low spreads and minimum slippages.
 

momo3HC

Member
When selecting a broker first check whether it is a regulated broker or not. With a regulated broker your fund is protected. There are a few brokers who freeze the account by showing some weak reasons. Furthermore, a few brokers deny to pay the customer if he makes huge profit. That is the reason a regulated broker is a decent decision.
From what I have researched and experienced myself there is a lot to be said about regulations, however, excuse my biased ass, but I am an advocate for unregulated brokers as I feel there are more advantages for the clients trading via an unregulated broker compared to regulated brokers. My reasoning: Becoming regulated, for the broker as a company is a very expensive thing to do, therefore they look at recuperating those funds back in, VIA their clients. SO, what they tend to do, is bump up the client costs through widening the spread, offering lower leverage, and bumping up the trade commission charge per trade that gets placed. UNregualted brokers on the other hand, do not have this grand expense, therefore they make money via alternative ways, but allow the clients a little more freedom for example by offering a higher leverage- which I myself find to be more useful and beneficial to my style of trading, better spreads and lower trade commissions. Also got to mention JP markets and Pepperstone shady cases. They are regulated right? And what that’s not stopping them to play against their clients. In short i prefer to have good trading conditions and smooth trading at all than to rely only on regulations.
 

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