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, main points
Insurance for traders - before registering, we check whether the broker is insured by The Financial Commission, after all, a payment of 20,000 euros 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 case of bankruptcy of the company and in the event of violations on its part.
Full registration - before starting trading, you need to fully register with the broker, not forgetting to verify the data provided:
Many traders start trading immediately after registration, and then it turns out that in order to withdraw funds they need to confirm one or another document.
If this is not possible, then the money remains on the account without the possibility of withdrawal, so before replenishing the account in full, activate the account by providing all the required documents.
Testing strategies - before starting trading using 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 several days with a minimum deposit and make sure there are no complaints from the brokerage company.
This is the only way to check the broker to see whether what is written in its regulatory documents corresponds to the truth.
Testing the withdrawal of funds - submitting an application for withdrawal of funds and checking the speed of its execution in practice by the broker:
Very often, it is at this moment that problems begin to appear in a seemingly fairly decent brokerage company.
That is, we top up the account with a small amount, trade, try to withdraw funds, after a successful withdrawal, we top up the required amount and continue to trade calmly.
From the above, we can say 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.
On my own behalf, I can recommend several companies with which I have not had any problems on the points listed above - proven Forex brokers