10 Questions to Ask When Picking A Futures/FX Broker (trading in 2017)
What should you look for in a broker and why does it matter? Here are 10 questions you should ask yourself when considering what broker could be right for you. So we do not recommend brokers, we do not give individual opinions, this is not a complete list in fact if you feel there are questions that are helpful which can help others then I would encourage you to write them in the comments section below. With that being said, here we go…. So what country is the broker in? Some countries offer residences and non-residences insurance on deposits in case of the bank that the broker is connected too goes bankrupt or the broker itself has a capital problem. This might or might not be important to you.
So how big is the broker? There are brokers that are private companies , there are some that are public where you can find out exactly how many clients they have and what their average account size is or how much clients funds they are actually holding … Again this might or might not be important to you but it could be something that does sway your decision. So what is the minimum deposit size? Some brokers have pretty large deposit sizes and this might be too large for you. Or you might be looking for a large deposit size to know that your going to be the small fish in the big pond instead of being the big fish in the small pond. So are you able to meet their deposit size and are those deposit sizes big enough? So what kind of leverage do they give you? Some might be thinking that they rather have a broker that give clients less leverage thinking that the broker won’t be as susceptible to risk…
Where others could be looking for a broker that might give them a little bit more leverage… so obviously asking the question, what sort of leverage you would use would seem to be relatively important..
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