Tricky moments when 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 financial market access services provided by brokerage companies is no exception.
And then, in the course of work, you have to deal with rather unpleasant moments that create difficulties and sometimes even directly affect the financial results of transactions.
Therefore, it will always be a good idea to find out in advance about all the nuances and clarify important points in the broker’s trading conditions.
Spending a couple of minutes of time now will avoid a lot of surprises during work later and will save time and money in the future.
Account replenishment and withdrawal of funds
As a rule, there are always more options for replenishing your account than withdrawal options. And it often becomes an unpleasant surprise when you are faced with the fact that it is not possible to withdraw funds using the method that is available for replenishment.
Also, a method convenient for you may disappear after you have topped up your account. For example, you deposited funds through WebMoney, and a month later the broker stopped working with this payment system.
Spread size
The advertisement always indicates the smallest amount of this commission; in fact, the real spread is very different from what can be seen in the advertisement.
If this aspect is important to you, first check the real spread size through the web terminal or in the standard trading platform of this broker.
Stop Out or forced closing of a position
Traders quite often do not pay attention to this parameter, because no one is going to allow large losses or loss of the deposit, which will lead to the forced closure of the transaction.
And on the one hand, this is correct if the stop out is 90-100 percent, but there are brokers with accounts in which forced closure occurs when the loss reaches 20%.
In this case, you need to be extremely careful and not allow this indicator to be exceeded for both objective and 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, no matter how much you received 10 or 100 percent.
Therefore, there is practically no point in paying attention to this argument when choosing a broker.
To keep abreast of events and not miss important messages about changes in trading conditions, always read letters from the broker and make sure that they do not end up in the spam folder.
Read about other disadvantages of brokers here - https://time-forex.com/vsebrokery/ntdostatki-brokerov