broker trading online

What should we seek when joining Broker

fig : How to get the best broker

Since there are thousand of brokers and increasing the number drasatically day by day, There are many broker which opens and close in no time. And there are many fraud brokers so before trading forex with broker we need to learn about them if they are good broker or not.

1.Is the broker regulated or not?

Is this broker registered with any regulating authorities? Check to see if your broker of choice is registered with the National Futures Association (NFA) or Commodity Futures Trading Commission (CFTC) if they're based in the US. If the broker is based in the United Kingdom, check with the Financial Service Authority (FSA). If the broker isn't registered with any of these or any other recognized regulating firm, then you may want to think twice before signing up with them.

2.Do not trade with DD (Dealing desk Broker), Find if the broker is ndd, stp or ecn. Ecn accounts are very good to trade with.

3.Learn about withdrawal method and depositing method. There are many good brokers like ic market, Caesar trade who accept many method to deposit  but they don’t accept skrill to withdraw even if you deposited with skrill. Before you start trading with broker choose as per your need.

4.Know if the broker has any hidden terms and conditions like scalping is accepted or not I;e how much time should trader stay on market ofter entering the order, Hedging is accepted or not? Etc. Find broker who offers traders to trade with no conditions.

5.Be aware of using high Leverage. How much leverage will a broker give you?.Leverage is like a double edged sword. It can kill your account if you can’t use it properly. Having high leverage is good but trader must know how to use it. If trader doesn’t  have good knowledge about leverage the best thing he/she can do is avoid high leverage.