Choose A Broker

Protect your money. Do your research before dealing with any broker.  There will always be scammers out there, so beware.  Remember, if it's too good to be true, then walk before you leap.

As much as your are doing right now, I used the internet to help me pick the more trustworthy broker.  I read several blogs, visited a number of forums, read some reviews and their company profiles. Read about other people's opinions about each broker.  Then, formulate your own pros and cons with each broker that you have researched.  

In the end, I chose FXCM.  I chose FXCM because they have been in the business for a long time now (since 1999).  They have weathered a lot of hiccups along the way but are able to stay afloat (most recent was last Jan 2015).  It is a US-based company which, in my opinion, may have better regulations.  If anything goes awry with their company, then I would definitely hear it in the news.

Here are links for some research on FXCM:

• Who is FXCM?
• https://en.wikipedia.org/wiki/FXCM
• http://www.marketswiki.com/mwiki/Forex_Capital_Markets_(FXCM)
• http://www.bloomberg.com/news/articles/2015-01-16/fxcm-said-to-be-in-talks-with-jefferies-for-200-million-rescue

FXCM owns the Forex trading news and research web site - DailyFX.  I find this valuable in getting insights on how the market will pan out during the day.  A lot of jargons there so take some time to get yourself familiarized.  Do not be intimidated by the terms, but allow yourself to be challenged, to be curious to learn.

They also run a monthly contest for small account holders.  They award prize money to those who would be able to get the highest returns on their investment.  There are indeed a few percentage of traders who are able to double their money in 30-days.  However, proceed with caution.  Read more on their contest here.  As for me, I did not chose FXCM for the contest, in fact I have learned about the contest only a month after I join.  Winning this contest is not my goal.  My goal is to proceed with caution that I may earn and limit my losses. 

Disclaimer: This is not a promotion.  I do not have any affiliation with FXCM or am I receiving any compensation for writing this article.  I am solely a client and FXCM is my broker. Please use your own discretion to pick your broker.  I will not be liable for any loses you will incur should you also choose FXCM as your broker.

I will update this blog soon to share to you the links to other blogs, reviews and articles about other brokers, that you may be wiser when you finally pick your broker.