How to check a stock broker in practice?
One of the most important components of success in stock trading is the right choice of broker for opening transactions.
It is important to choose a brokerage company that will fully meet the requirements and be sufficiently reliable and protected from bankruptcy.
A huge number of articles have been written on how to choose a broker, but it is equally important, after making a choice, to check in practice its correctness.
Since everything changes and after some time the brokerage company may change the client agreement or trading regulations.
How to check a Forex broker: key points
Trader insurance – before registering, check whether the broker is insured by The Financial Commission. A €20,000 payout is much better than nothing.
Several brokers insured by The Financial Commission are also presented on our website - https://time-forex.com/vsebrokery/zastrahovany-broker
Payment can be received both in the event of a company's bankruptcy and in the event of violations on its part.
Full registration – before you begin trading, you must fully register with the broker, making sure to verify the information you provide:
Many traders begin trading immediately after registration, only to discover that withdrawals require confirmation of one or another document.
If this isn't possible, the funds will remain in your account and cannot be withdrawn. Before fully replenishing your account, activate your account by providing all required documents.
Testing strategies – Before trading with all available capital, it is recommended to test with a minimum amount:
That is, if you want to use scalping or an advisor with a broker, first trade for a few days with a minimum deposit and make sure there are no complaints from the brokerage company.
This is the only way to check a broker to see if what is written in its regulatory documents corresponds to the truth.
Withdrawal testing – submitting a withdrawal request and checking the broker's execution speed in practice:
Very often, it is at this point that problems begin to arise in a seemingly quite decent brokerage company.
That is, we top up our account with a small amount, trade, try to withdraw funds, and after a successful withdrawal, we top up our account with the required amount and continue trading without any worries.
From the above, it can be said that it will take some time to check a Forex broker, but after that, you will be completely confident in the reliability of the chosen option.
I can personally recommend several companies with which I have not had any problems in relation to the points listed above – proven forex brokers
