The pitfalls of working with stock brokers
Very often we make purchases under the influence of advertising, without really delving into the details, paying attention only to the advantages that are offered to us.
The acquisition of services for access to financial markets provided by brokerage companies is no exception.
And then, during the course of work, you have to deal with rather unpleasant moments that create difficulties and sometimes directly affect the financial results of transactions.
Therefore, it's always a good idea to learn about all the nuances in advance and clarify important points in the broker's trading conditions.
Spending a few minutes now will help you avoid a ton of surprises later on and will save you time and money in the future.
Account replenishment and withdrawal of funds
As a rule, there are always more options for depositing funds into your account than for withdrawing funds. It's often an unpleasant surprise when you find that you can't withdraw funds using the same method you use for depositing.
A convenient method for you may also disappear after you've replenished your account. For example, you deposited funds via WebMoney, but a month later the broker stopped working with this payment system.
Spread size
The advertisement always states the minimum size of this commission; in reality, the real spread is very different from what you see in the advertisement.
If this aspect is important to you, first check the actual spread size through the web terminal or in the standard trading platform of this broker.
Stop Out or forced closing of a position
Traders often overlook this parameter, as no one wants to incur large losses or lose their deposit, which would lead to a forced closure of the trade.
And on the one hand, this is correct if the stop out is equal to 90-100 percent, but there are brokers with accounts in which forced closure occurs when a 20% loss is reached.
In this case, you need to be extremely careful and not allow this indicator to be exceeded for either objective or subjective reasons (withdrawal of money or transfer to another account).
Gifts and bonuses
Almost all bonus funds received when replenishing your account will have to be traded, regardless of whether you received 10 or 100 percent.
Therefore, paying attention to this argument when choosing a broker makes practically no sense.
To stay up-to-date and not miss important messages about changes in trading conditions, always read your broker's emails and make sure they don't end up in your spam folder.
Read about other broker shortcomings here: https://time-forex.com/vsebrokery/ntdostatki-brokerov
