How to Choose a Stock Trading Broker | PROs and CONs
Stock trading broker is a free lecture from the Algo Stock Trading Course:
https://eatradingacademy.com/courses/stock-trading/stock-market-course/
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Like with every other business, there are scamming websites, scamming brokers that are ready to take your money.
And usually, these are the Stock trading brokers that people will start calling you on the phone, will ask you to deposit money will tell you what is the upcoming IPO, what is the best opportunity to invest at the moment.
And they want to take your money. And what usually happens is the people never see their money again. And these are the so-called scam brokers, which you need to stay away from.
You should always be very careful when you are choosing your broker.
This is why in many of my courses and videos, I showed that I usually deposit some money with the broker. A small amount, let's say $100 or $200. Then I withdraw them back to make sure that the website is trusty.
So the first important thing is for the broker to be regulated and there are different regulatory companies in the different countries.
So always make sure that your broker is regulated. And secondly, always test the broker with a small amount, before you fund an account with a huge amount and then find out that actually, that was the wrong broker.
Now, the next important thing is to find a broker with low commissions.
I usually avoid suggesting any brokers in my courses, and quite often I ask my video editor to hide the broker name in my videos. Because I don't want anyone to accept any broker as a recommendation.
Because if I tell you I'm using that broker right now, it's a very trusty one.
By the time you're watching that video, this broker could be gone, no more on the market. Or they can change their commissions.
And actually, it happens all the time. The brokers change their trading fees, commissions, all their conditions.
So the good thing is actually every 3 or 6 months to look around for a new, better brokers that you can use. And of course, if you are looking into Stock trading or Stock investing, seriously, you better keep your Stocks and funds in a few different places.
Same thing with Cryptocurrencies. I always keep them on a few different Crypto wallets so I don't put all of the risks in one basket. Now, the thing with this low commission brokers is, usually they offer the trading or the investing via mobile app, and I do that as well.
I have a few accounts with different brokers from where I buy and sell Stocks from the phone. Probably I'll be recording some more courses in the future about that as well.
But when we are talking about Expert Advisors and Robots, Algorithmic trading, you need to have the Meta Trader platform. So when you are choosing your broker, make sure they offer Stocks on the Meta Trading platform so you will be able to trade with the Robots.
And if you have really hard times finding a broker, let us know. We will give you always some names, but one more time, that's a personal choice. Always do your diligence, do your research, talk with some experts in the field, so you can choose a trusty and regulated broker. And most importantly, the broker will make you feel comfortable while you are trading or investing with that broker.
And if you would like to know which are the brokers that we currently use, we have a page on our Academy's website called Brokers.
Have a look at all of our online courses:
https://eatradingacademy.com/courses/
Let’s connect on social:
Facebook: https://www.facebook.com/eaforexacademy/
Instagram: https://www.instagram.com/eaforexacademy/
LinkedIn: https://www.linkedin.com/company/33249615/
Twitter: https://twitter.com/EAForexAcademy
https://eatradingacademy.com/courses/stock-trading/stock-market-course/
✘Check out my crypto investments on Patreon:
https://www.patreon.com/petkoalexandrov
✘Sign up to Crypto.com, and we both get a Bonus!
Referral Code: 5ta2mexnsw
Like with every other business, there are scamming websites, scamming brokers that are ready to take your money.
And usually, these are the Stock trading brokers that people will start calling you on the phone, will ask you to deposit money will tell you what is the upcoming IPO, what is the best opportunity to invest at the moment.
And they want to take your money. And what usually happens is the people never see their money again. And these are the so-called scam brokers, which you need to stay away from.
You should always be very careful when you are choosing your broker.
This is why in many of my courses and videos, I showed that I usually deposit some money with the broker. A small amount, let's say $100 or $200. Then I withdraw them back to make sure that the website is trusty.
So the first important thing is for the broker to be regulated and there are different regulatory companies in the different countries.
So always make sure that your broker is regulated. And secondly, always test the broker with a small amount, before you fund an account with a huge amount and then find out that actually, that was the wrong broker.
Now, the next important thing is to find a broker with low commissions.
I usually avoid suggesting any brokers in my courses, and quite often I ask my video editor to hide the broker name in my videos. Because I don't want anyone to accept any broker as a recommendation.
Because if I tell you I'm using that broker right now, it's a very trusty one.
By the time you're watching that video, this broker could be gone, no more on the market. Or they can change their commissions.
And actually, it happens all the time. The brokers change their trading fees, commissions, all their conditions.
So the good thing is actually every 3 or 6 months to look around for a new, better brokers that you can use. And of course, if you are looking into Stock trading or Stock investing, seriously, you better keep your Stocks and funds in a few different places.
Same thing with Cryptocurrencies. I always keep them on a few different Crypto wallets so I don't put all of the risks in one basket. Now, the thing with this low commission brokers is, usually they offer the trading or the investing via mobile app, and I do that as well.
I have a few accounts with different brokers from where I buy and sell Stocks from the phone. Probably I'll be recording some more courses in the future about that as well.
But when we are talking about Expert Advisors and Robots, Algorithmic trading, you need to have the Meta Trader platform. So when you are choosing your broker, make sure they offer Stocks on the Meta Trading platform so you will be able to trade with the Robots.
And if you have really hard times finding a broker, let us know. We will give you always some names, but one more time, that's a personal choice. Always do your diligence, do your research, talk with some experts in the field, so you can choose a trusty and regulated broker. And most importantly, the broker will make you feel comfortable while you are trading or investing with that broker.
And if you would like to know which are the brokers that we currently use, we have a page on our Academy's website called Brokers.
Have a look at all of our online courses:
https://eatradingacademy.com/courses/
Let’s connect on social:
Facebook: https://www.facebook.com/eaforexacademy/
Instagram: https://www.instagram.com/eaforexacademy/
LinkedIn: https://www.linkedin.com/company/33249615/
Twitter: https://twitter.com/EAForexAcademy
