Questions to ask your Broker
When Selecting a broker ,You basically rent a service.
But atx the same time this is also a partnership.
This should at all times be a 2 way partnership and not just from your side depositing funds. simply stated, you are the client, and in this capacity you are able to negotiate sometimes better trading conditions and terms. Don’t automatically accept what is sold to you but ask for more information.
Almost all brokers have the options to create the account and trade on a demo or practice account in order to familiarize yourself with their platform ans services.
so you should ask certain questions before depositing money.
lets say you went through the selection of your broker ( we have a good list of what to look for in a broker)
- How well capitalized are you?
- Who takes the back-end of your trades?
- Are the pay outs for certain Assets and assets pairs always tthe same or are they changing ?
- if they are changing what is the max and in payouts ?
- What welcome bonus or deposit bonus are you offering?
- And can I refuse the deposit Bonus?
- what are the Bonus Conditions (how much do i need to trade in order to be able to make a withdrawal) ?
- Are my trading funds kept in a separate, secure client account, Also known as segregated account?
- If so where, which bank?
- How can I deposit funds?
- How long do withdrawals take?
- Do I have to pay for withdrawals of my funds?
- Is this something we can negotiate between us?
I am sure you will be able to think of more questions but if you are these to your brokers i am sure you have a good idea as how this broker