How to choose a reliable broker for trading Forex reviews?
In addition, the novice trader needs an intermediary for making transactions in the Forex market. This mediator is a dealing or brokerage center. The comfort, profitability and safety of trade often depend on how good the broker is. The first thing you need to pay attention to is the age of the dealing center. Of course, no one says that young brokers are bad, however, in order to avoid one-day firms, scammers and unreliable partners, still look at the age of the company. The more age, the better. In addition, do not believe everything written on the site of the forex brokers; try to find real evidence of age and its work in the market.
The second is reputation. A forex broker who works on the market is not the first day, he must have his own reputation among traders. Avoid positive and negative promotional reviews; try to read a few comments and reviews to form an objective opinion. Try to find an independent rating, visit the forms, the Forex trader blog and other resources where you can get opinions and opinions of real people. Be sure to check for negative reviews, claims from payment systems and blacklists.
The third thing that also can`t be overlooked is the support of traders by the forex brokers. We are talking about the support service, and about the personal account, and about the software that the broker has. In addition, some brokerage companies offer some promotions and insurance to beginner traders, but before you use them, carefully read the terms and conditions. Often attractive bonuses are used as bait to attract naive or greedy users.
Of course, you should not lose sight of the safety and convenience of remittances. It is worth checking on the reviews, what is the possibility of withdrawing money. It is not only about how to deposit and withdraw funds, but also about where they will be stored. As a rule, brokers use offshore accounts, which can be potentially unsafe. To return funds from such accounts in case of fraud, closure or disagreement with the broker is almost impossible.
In conclusion, about forex broker, we note that in addition to all of the above, you must separately clarify the broker’s commission size, opportunities for leverage, and also check the reviews of exactly the broker that interests you. So-called “kitchens” or brokers offering options and other operations should be avoided, the results of which are almost impossible to track somewhere else besides the results of the organizer, because there are many negative reviews about them.
Do not miss our article about a young broker.