Choosing a broker for trading. Nuances and features

Trading in the market involves certain risks, which is why there are brokers, that is, intermediaries whose task is to provide comfortable conditions for trading. You can trade currency, play on quotes, work including with cryptocurrency, as well as with raw materials. According to the law, brokers have certain requirements. They must be registered and operate on the basis of a brokerage license.



Collecting independent feedback
License, number indication is a good way to assess the legality of the work. There are also informal ways, such as collecting independent reviews on numerous thematic platforms. If you want, you can learn about almost any broker, for example, fusion_markets and dozens of others. Despite some similarity, there are differences in the activities. Features:

• The variety of account currencies is assessed. Traditionally, it is the US dollar, the European currency, but other options can be offered, for example, the Australian dollar.
• The spread indicators, the availability of tools are evaluated. These include indices, currency pairs, energy resources and so on.
• The minimum deposit also plays an important role. Some brokers set minimum deposit amounts of $10,000 or even higher, but the entry threshold is generally much lower. Sometimes it's only $1.

How to form an objective impression
The information on the broker’s website will not be enough. In addition, reviews posted on the broker’s platform may also be biased. In such cases, the only way out is to visit thematic independent platforms and forums. Moreover, if there are doubts about the non-customized nature of such reviews, it is recommended to visit not one, but several independent thematic platforms. The following should also be taken into account:

• It is important to analyze the review itself, but also the time of its placement. As a rule, the most reliable and objective are fresh reviews. They reflect the real situation at the moment.
• You can check the independent portal by trying to publish your review. If it appears unchanged or is not stuck for a long time “in moderation”, then this is a good sign.
• In any case, it is important to understand that trading on the stock exchange is associated with risks. However, quite high risks are compensated by a real opportunity to get a return on their activities. By the way, someone compares stock trading with playing in a casino, but this is not quite true.

Much depends on the experience of the trader, his skills, intuition, although luck, circumstances also play a role. Sometimes people assign a rating to a particular brokerage platform, and the system summarizes the ratings assigned to each user. As a result, the overall rating is formed, which in many ways is the most informative.