Trading is a though game and the vast majority (probably 98% of retail traders) lose money over time. There are more things to consider than you thought. Having a good broker is far more important for your success than you thought.
Bottom line: A broker should
- be your reliably ally, not your enemy.
- offer the markets you want to trade and a wide selection of trading platforms. These are features, not benefits.
Ownership, auditing and insurance
Cost of trading
- spreads!!! fixed vs variable
over the phone execution: once your account is open, close or open a trade over the phone and time how long it takes. It should not be taking longer than 1m! Note that this may vary when the market is moving fast during major news announcements
- dispute resolution procedure
- margin call procedure
24/7 account manager. Am I retail or premium client?
Before you open an account, call the company’s help desk with a fake question to test how long it takes to get a response.
Withdrawal time and cost
how fast can you get your money?
google the broker name with words like review, experience, ripoff. The thing to keep in mind tis that you are bound to find more bad than good reviews, because people are more likely to leave them when they are angry.
minimum account balances