Tag: forex brokers

The ultimate guide to choose a forex broker

Forex Brokers

I get this question over and over again, so I decided to create an article about it and direct traders to this article instead of writing a complete essay every time I answer it (saves me time hehe)…

The question is:

Where should I open my live account? Who is the best forex broker?

I’ve heard horror stories about brokers (specially a certain kind of brokers that you are about to learn) not allowing traders to withdraw their capital, or stopping traders out just enough to wipe out their entire trading accounts, and so on and so forth.

So I dont want this to happen to you ok.

Look, trading itself its difficult enough to add another type of risk, which is what I call: Broker Risk.

You might ask: What are the sort of things that could go wrong with your broker?

brokers, forex brokers

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Forex Broker: Choosing the right Forex Broker

Sometimes it’s hard to make a decision on which Forex broker to open our trading account, there are just too many of them.

Most of them have different features, capabilities, weaknesses and advantages, for this reason I have created a checklist that can help you decide the broker to use in your Forex adventure.

1. Is it regulated?

The first question you have to ask yourself is: is the broker I want to use Regulated ? There must be no doubt about this first point.

All regulated brokers must submit financial reports to regulatory authorities, and when they fail to do it, authorities have the right to fine them or terminate their membership.

This enforces Forex brokers to keep transparent financial reports.

The brokers must be regulated by their local regulatory authorities, for instance, for brokers based in the US, they must be regulated by the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission), Swiss based brokers must be

forex brokers

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