How to reduce risks by choosing a Forex broker

Perhaps the mention of individual brokers offering Forex trading, someone a priori causes distrust. This is understandable, since the main cleanup of this segment of the market began about 5-7 years ago, when about 90% of unscrupulous pseudo-brokers were forced to leave the market. This was made possible, among other things, by tightening the law. But a certain distrust of Forex trading still remains with many people.



Objective choice based on reality
It is better not to live by myths or unverified information, since the situation in the Forex segment changes dramatically and quite quickly. Public opinion is not changing so dynamically. That is why it is worth discarding emotions and turning to resources that do not agitate for or against, but provide high-quality, verified information so that the future trader can make an objective decision. For example, traders often look for queries regarding Gerchik KO, since this platform received the title of “Fastest Growing Broker” in 2015. However, the specificity of the brokers’ work is such that a positive image can easily change to a negative one, and then change its vector again. When choosing, the following points should be alerted, which should be given as typical examples:

• Significant predominance of negative reviews over positive ones. However, the presence of only positive reviews of the same type “under the copier” should also alert.
• High minimum deposit, which significantly complicates trading for beginners.
• Inaccuracies of quotes, which, as a rule, is primarily reflected in negative user reviews.

Positive Signals about Broker Reliability
There are also positive signs that indicate the reliability of the broker. For example, the efficiency of technical support. And also:

• The ability to conduct full-fledged trading not only on standard working hours and days, but also on weekends.
• High speed of execution of orders.
• Accuracy of quotations.

You can also add that some brokers allow you to use advisors, attract other tools to automate the trading process, conduct a full-fledged technical analysis. Sometimes the arsenal of tools is impressive, numbering in the hundreds.

If you already have some experience, then you should definitely share it on independent platforms dedicated to working on Forex. Even if this is a purely negative experience or, on the contrary, a positive one, it will still be useful, informative, because not only the reviews themselves, but also the ratio of positive and negative comments about a particular broker are compared. This is often the decisive factor in making an informed decision on cooperation.