How to find good and trusted broker for forex or stocks trading? Advices from woman trader
Hi my dear readers! Glad to share my recent video, where I give 5 easy tips to find good and trusted broker. Hope my advices will help you to make right choice. Being a woman trader, who started from zero and made millions in trading I understand how important is to find good broker. It’s one of the main keys to successfull and profitable trading.So, let’s start:
- Regulation. In fact all brokers are regulated in some way, but most important is if this regulation can really protect you or It’s so called ‘symbolic regulation’. Always pay your attention to thecountry of regulation, It’s laws ans how financial regulator works there.
- Financial guarentees. Good financial regulation doesn’t mean you will get your money back in case of broker bankruptcy. Of course, we all are trying to find the best broker, the most safety one, but who knows what may happen. Do you remember Lehman Brothers or 300 years old Barings bank? To have financial guarantees of your funds safety choose broker that is:
– a bank;
– a broker, where clients funds are maintained by bank separately from broker funds;
– a broker, that has essential amount in It’s equity capital.
3. Commissions and spreads. You know broker makes money through commissions and spreads. Of course, we all are dreaming about lowest possible rates, but don;t be greedy. Cheap commissions may cost you all your money. Unrealistic low rates are offerd by not the best brokers or even worse…..
4. Trading platform. If you are new in trading, look for the broker that offers easy for understanding and easy for use trading platform, that has variety of fundamental and technical analysis tools.
5. Leverage. Don’t try to find a broker, that offers very high leverage or at least don’t use high leverage. Remember, trading is like driving a car – start with low speed or you will get crashed.
In conclusion. I advice you to use this tips to make right choice and don’t trust online ratings. Here is why –
- Very often (doesn’t mean always!) brokers pay for website owners to be featured on best brokers ratings;
- Website may be affiliate partner of number of brokers and creates rating depending on how much CPA he gets from broker per each opened account.
Thank you for watching/reading! If you find this information usefull, share It with your friends. Also, you can leave me message or comments what topics on trading, investing or finance you would like to be covered on my next video.
Enjoy your trading!