Been burned by sketchy brokers before and want to avoid making the same mistakes.
What red flags should I watch out for when researching new brokers? Looking at regulation, spreads, execution speed but wondering if there are other important factors I’m missing.
Try a demo account first. Test trade execution and watch for slippage. See if they’re making money or just good at marketing.
Regulation is important, but it’s equally crucial to test their customer service before making any deposits. Send them a couple of questions and observe how quickly they respond and whether their answers make sense.
Look closely at their withdrawal policies too. Many brokers simplify deposits but complicate withdrawals.
Check withdrawal times and actual customer support response.