Choosing a reliable broker is an integral element of success when working in the international foreign exchange market, because only a reliable and trusted brokerage company can provide traders with quality service, transparency of transactions, quotation accuracy, professional and quick support.
Financial experts of Traders Union, the most respected association of Forex traders that has been providing beneficial conditions of working in the financial markets, including additional income, professional legal assistance, information support and other features since 2010, shared how to choose the right Forex broker and avoid getting scammed. In addition, the list of tested best Forex brokers is already available on the Traders Union website.
What factors do I need to consider when choosing a broker – TU tips
Traders Union recommends using an all-round method, i.e. study and analyze all areas of operation of the company that you are interested in and make a decision based on the results of your analysis.
The list of key criteria you need to take into consideration when choosing a broker:
- Period and history of the company’s operation in the financial markets.
- License of a financial regulator.
- Quick and qualified customer support team.
- Reviews about the broker by the traders.
- Response time of the broker’s customer support and reaction to the negative reviews of the clients.
In addition to the above criteria, there are a number of internal indicators of the broker, which the client cannot study and analyze independently before starting to actually work with the said broker. These are the indicators Traders Union experts analyze following a unique algorithm – a methodology for analyzing and assessing brokers.
Therefore, the Traders Union website features highly trustworthy, impartial information about the operation of Forex brokers and also regarding their reliability.
How to tell the difference between a scam broker and a reliable company
The Traders Union team not only helps traders find a trustworthy broker, but also to distinguish a reliable company from a scam.
For this purpose, financial experts and analysts of the Union regularly publish articles on the TU’s website to help traders avoid the tricks of scam brokers and instantly recognize such companies.
Key criteria that distinguish a scam broker from a reliable company:
- The company’s website has only been created recently, while the broker provides information about years of operation in the financial markets.
- The company operates without the license of any financial regulator.
- There are many negative reviews on the Internet about the company or there is no information at all.
- The broker’s website lacks information, consistently does not respond; there is no official legal address and contacts of the broker on the website.
- The broker’s customer support is too obtrusive and insists that the clients make a deposit as soon as possible.
On the Traders Union website, you will find more information about how to choose a reliable Forex broker and how to avoid becoming a victim of scams.
Be the first to receive more relevant information about the Forex market by joining Traders Union. The registration in the Union is free for traders, while the members of Traders Union are awarded additional income in the form of compensation for a part of the spread or commission for each closed trade (rebate), assistance of qualified lawyers and also additional bonuses for working with Forex brokers.