Most of the brokers KNOW that 95% of traders loose 100% of their account.
- Do you think that is a secret? NO it is not , but most people ignore it
What is the result?
- The brokers allow new and many other traders to experience some gains , while losing more.
The brokers allow the game to unfold out of their own funds - never clearing the transactions with a third party, whaiting for you to loose .
The broker will win 95% in fact. This is a FIRM statistic.
- With that in mind knowing that even the largest brokers play the game against you, is is very hard to recommend any broker, but you must follow some guidelines to kind of protect yourself for example: https://www.babypips.com/learn/forex/6-most-important-things-to-consider-when-choosing-a-broker .
Keep in mind that there are many fake brokers that receive your money and never return it, there are multiples cases just search that in google .
I have ask many other traders the same questions and the answer is basically the same, at the end follow the guidelines and take a risk. Usually if they have good reviews is good, look for clues in customer service and how they respond your questions, open a small account and request funds back to your bank account and see how quick they actually respond to your requests , if you notice any inconsistency , usually is a sing that you should not do business with them.
The important ting is that you are comfortable with then and that whatever you request withing the rules they comply. for example if to request money back to your bank account they make it difficult that is a NONO to do any business wtih them , Brokers as big as FOREX.com have fund guilty of skimming customers millions of dollars , Read: