What Is the Best Way to Evaluate a Broker?

[Nizam Pirzada]

Hello Friends,

Well I just need suggestion that What Is the Best Way to Evaluate a Broker?

[Stik]

can anyone with Pepperstone give me their thoughts on them? I have read a lot of mixed reviews on various forums.

cheers

[Nizam Pirzada]

I'm willing to help you.

there are many aspects you should care.
I suggest you should pay attention on reputation, customer support response and service level, quick and speed of deposit/withdrawl, reasonable low spreads.

First you should check that the Broker is authorized and regulated – reliable broker must be authorized and regulated by leading regulation bodies, choosing Authorized broker means that your money is protected.


visit more forum and review sites, forex-fxtrader is a good one as an example, you can read from the lines and make your own choice.

and one thing more, different brokers may provide different services to customers in different areas, you'd better listen to traders from your local area.

when you shortlist the target brokers, you can open a demo account to experience by yourself and make the final decision.

Hope these can help you.

Thank you very very much sanfo for your informative post

[marc walton]

can anyone with Pepperstone give me their thoughts on them? I have read a lot of mixed reviews on various forums.

cheers

Hi Stik, we have an agreement with Aslan so clients can obtain a refund from Pepperstone and therefore we have a vested interest BUT I have been trading forex for over 8 years and have used over 20 forex brokers in that time. My two main brokers now are pepperstone & thinkforex which should say something. I have had no problems with either. Spreads are very competitive and the new pepperstone razor account has extremely low ones, The support is very good. Account opening is easy, withdrawing money is no problem. They are both registered in Countries with strong financial regulation, so for me they tick all the boxes.

It is very difficult when you start reading lots of online reviews. Many people who post have just lost a lot of money are obviously hurting and want to lash out at someone & even if it has been through their own ignorance they blame the broker. Don't get me wrong there are more bent and crooked forex brokers out there than good ones, so its almost impossible to know who to trust. Also I don' trade news so issues like "slippage" don't affect me which may be the case for other members. Another point to consider is that some of the brokers employ people to post favourable reviews for them whilst paying others to slag off their competitiors!! We get a lot trying to do that on here and are watching a few as I write! Oh what a tangled web we weave! If you have any queries feel free to private message me, Marc

[capsmart]

I agree with Marc and I also think that slippage is the main reason. I started trading futures and it is interesting to see that the market is not as "smooth" as it looks with a broker. Especially just before the news the liquidity is gone. Therefore there are plenty of gaps that you do not notice on your charts. So if you try to trade during the news and enter a market order you risk to be filled 10 or 20 pips higher or lower than planned. People do not understand this and blame the broker.
Concerning Pepperstone I do not have a personal experience so I cannot tell if they are good or not but I believe Marc if he says that they are honest.

[Stik]

Marc/Capsmart

thanks for your replys, I've been thinking of joining Pepperstone through Aslan for the rebates and I have heard mostly good things about them but there was a few negative reviews as well. Like you say Marc I think it was mostly from people who had lost money and needed someone to blame.

cheers