Topic: best broker where my funds are safe?
Was wondering am new to trading and am looking for a forex broker with whom my funds are totally secure because I have heard that in most cases if the company goes bust so does your money??
Re: best broker where my funds are safe?
If you want to choose a good broker then there are so many things you have to keep in your mind.
When choosing a forex broker there are many factors to take into account.
- Trust
- Experience
- References from past clients
- Level of success
- Amount of advice to be given
- Convenience
- Amount of margin offered
- Speed
All of the above are of course important. In any financial transaction it is important to trust the broker you work with. This trust is garnered by the experience level the broker has. Of course there are some new brokers starting out who are quite trustworthy, but most people would rather work with an experienced broker. For that reason most new brokers attach themselves to a firm where they can be mentored and gain experience.
Re: best broker where my funds are safe?
Yes, many of my friends has lost money when they started trading with some of the brokers.Luckily I am trading with Kerford Investments and my money is safe.
Re: best broker where my funds are safe?
jt28, i would suggest you to learn some of the tricks of the trade yourself! i mean you should test the waters first, and this will take time, get a dummy account try trading in real time environment, understand the basics of the trading, then get down to actual trading, with or w/o a broker!
Vik
free forex ebook
Re: best broker where my funds are safe?
finvik wrote:
jt28, i would suggest you to learn some of the tricks of the trade yourself! i mean you should test the waters first, and this will take time, get a dummy account try trading in real time environment, understand the basics of the trading, then get down to actual trading, with or w/o a broker!
Vik
free forex ebook
Thank you for this interesting link. I am actually in test phase. I think I have to learn much more in order to be really good at forex trading. I think I will actually be ready in a few months to start with the actual trading. I hope that everything will work how I want it to be.
Re: best broker where my funds are safe?
i would suggest you to learn some of the tricks of the trade yourself.(Made Easy Forex)
Re: best broker where my funds are safe?
ACTCFX.com
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NFA # 0232831
Low spreads — starting from 2pips on EUR/USD.
Minimum deposit is only $5.
Margin leverage from 1:1 up to 1:500.
Bonuses on new accounts
http://www.actcfx.com/en/regc.asp?R_id=313
Re: best broker where my funds are safe?
Hi everyone!
The specific parameters that one should look on before choosing a broker is:
1. Reputation in the financial market.
2. Certification and regulation.
3. Spread charged
4. Facilities provided like daily updates, recommendations, mobile trading, pone trading etc.
5. Customer care support
6. hidden cost if involved
7. User friendly platform etc.
A good forex broker should be always reliable and efficient.
And of course, first try on demo account. If it is a success, then you may try with the real money! 
Re: best broker where my funds are safe?
jt28 wrote:
Was wondering am new to trading and am looking for a forex broker with whom my funds are totally secure because I have heard that in most cases if the company goes bust so does your money??
Hi jt28! your concern is absolutely right. However if the broker is regulated, it would be then mandatory for them to hold clients funds in client segregated accounts. Hence if the company goes bust, your money would still be refunded to you. My broker WSD is regulated by NZX, therefore, i am sure that my money is in safe hands.
Re: best broker where my funds are safe?
Hi ,
Yes I came accross WSD direct's review on www.forexbrokerguide.com and I was impressed by their website and services they offer. They offered 0.5 pip spread on eurusd and a client segregated account which is audited by them. Gold prices are falling and I was able to make a killing on the market with their fair spreads and zero commision charges.