Disadvantages of Forex brokers or how to avoid getting into trouble.

Anyone who has traded Forex can say that the right broker is not the least important factor in successful trading. It doesn’t matter how professionally you feel about the market, poor-quality dealing can ruin all your efforts in an instant.

Therefore, it is so important to know what shortcomings some brokers have, what they can lead to and how to prevent troubles from occurring.

The dealing system is currently organized in such a way that practically no one is immune from failures, but in addition to this, brokers have the following problems:

• Manipulations with the spread - you have often seen advertisements “We have the lowest spread, or none at all” and as a result, all 4, or even 5 points, instead of the promised 0.5. There may be several reasons for such deception - firstly, the advertisement indicates the minimum size of the floating spread, and secondly, the advertisement may simply be lying. Moreover, it should be taken into account that even the fixed spread of our brokers can change. To control the front, it is advisable to use the spread indicator .

• Delays in transfers - some brokerage companies have a lot of conditions, only by fulfilling which you can withdraw your money, sometimes the withdrawal process is delayed for several weeks.

• Slippage is a rather unpleasant phenomenon, especially if you trade using scalping , opened an order at one price, and received a price several points worse.

There is only one way out: either set a minimum deviation from the quote price or change the broker. • Requotes - a case when an order cannot be executed under specified conditions, for example, you set a minimum deviation of 2 points, and the price moves so quickly that the price changes by more than 2 points during the passage of the signal.

It all depends on the individual qualities of your broker’s services, or rather the speed of its communication channels and equipment. • Ignoring the client - sometimes it is simply surprising why it takes several days for a sent letter to be answered, or it is not possible to catch someone in an online chat.

Before opening an account, try to communicate with managers; perhaps from the first moment it will become clear that it is better not to work with this company. • Limitations - especially regarding the duration of transactions; most brokers do not like scalpers, limiting the number of orders opened in one session and the minimum duration of the transaction. There is only one way out: work only with scalping brokers .

After blocking an account, it is almost impossible to prove that you are right. Always remember that it is better to predict troubles than to blame someone else for them later, so try to immediately work only with reliable Forex brokers .