Even before testing trading strategies, the search for a decent broker is paramount to ensure any future success. Trading is a difficult enough activity not to add problems with a trading platform or concerns about a broker's honesty . When trust is broken, it's time to leave. Several items should catch your attention:
is there a regular communication between you and the broker ? Does the broker keep you informed of future developments or do you have the impression that your opinion is of no importance ?
does the platform 'freeze' regularly ?
is the communication with servers often interrupted ?
are the spreads enlarged to ridiculous values during volatile periods ? This means that they are losing money against a particular category of traders at those times and that's the only protection they have found. Thus penalizing other traders.
is the company a privately held one ? What do you really know about the people behind the company ?
is the broker trading on markets for his own with customers money without you knowing ? It's always too tempting to trade with O.P.M. ( other people's money).
are your funds insured one way or the other ?
I will not even mention sudden spikes, slippage and other common tricks.
FX is mostly a non regulated activity and you are supposed to know what you do with your money. Nobody forces you to open or keep an account with one broker in particular. I just want to attract your attention that it would be very difficult to hope to grow an account regularly and trade with confidence if you were to face several of the above mentionned problems.
Your fx trading activity would just be some kind of an elaborate video game , which needs often rebooting . No more , no less. Nothing close to what could be called a professional activity.
I see few advantages to stay with a less than optimal broker: some offer micro lot trading and this can be useful for training purposes without risking much of your capital. Other than that...
No hay comentarios:
Publicar un comentario