How to choose the right broker for yourself
There are several qualities you should look for before finding yourself the correct forex broker.
The most important thing for a good broker is that they MUST have a high level of security. They must be trustworthy and reliable. Also, they must be a member of the regulatory bodies such as FCA, PRA, ASIC, CFTC and so on.
2. Transaction Costs
Make sure you know if you need tight spreads for your type of trading, and then review your available options. It’s all about finding the correct balance between security and low transaction costs.
3. Deposit and Withdrawal
Good forex brokers will allow you to deposit funds and withdraw your earnings hassle-free. Your broker only holds your money to make trading easier so there is no reason for you to have a hard time getting the profits you have earned. Your broker should make sure that the withdrawal process is speedy and smooth.
4. Trading platform
When looking for a broker, always check what its trading platform has to offer.
Does it offer free news feed? How about easy-to-use technical and charting tools? Does it present you with all the information you will need to trade properly?
It is mandatory that your broker fills you at the best possible price for your orders.
Under normal market conditions (e.g. normal liquidity, no important news releases or surprise events), there really is no reason for your broker to not fill you at, or very close to, the market price you see when you click the “buy” or “sell” button.
For example, assuming you have a stable internet connection, if you click “buy” EUR/USD for 1.3000, you should get filled at that price or within micro-pips of it. The speed at which your orders get filled is very important, especially if you’re a scalper.
6. Customer Service
Brokers aren’t perfect, and therefore you must pick a broker that you could easily contact when problems arise.
Managing large B2B teams in Lithuanian telecommunications company BITE, I made one discovery I want to share.
By setting the same goals and specifying how exactly to speak and when to contact the customer, the results of sales managers differed radically.
We then helped people identify the time of day when they themselves are most productive and can best manage attention. The results have greatly improved.
We then allowed the scripts to be disregarded. And the results shot in to the sky.
Conclusion: Smart time management and reasonable freedom is the fastest way to success.
Be brave and flexible.
The Dark Horse Project is a long-term study of how women and men achieve success by harnessing their individuality. Most traditional research on success asks the question, “What is the best way to achieve success?” We are instead asking, “What is the best way for you to achieve success?”
"They found that people found happiness through the relentless pursuit of fulfillment. The act of seeking fulfillment brought them success and happiness, instead of fulfillment as a consequence of obtaining mastery in a chosen field.
Their work looked at people who are masters of their craft, but totally unhappy at work, because they’re unfulfilled. The dark horses are individual. They each found pride and happiness in different aspects of their work. There is no formula. Just a basic compass heading."