Have you ever considered which is more dangerous in a gun and a bullet? A gun without a bullet is partially harmless. A gun pointed at you in this state can only harm you psychologically. The reason is because you have no idea whether it’s loaded or not and you might not want to take such risk. Another way a gun at this state could be harmful is if you are being hit with it, this is why I said in my earlier statement that a gun without bullet is partially harmless. To be more factual, a bullet is what makes a gun to be considered as one of the most dangerous weapon invented by man.
Cogently, the Market acts as the ‘gun’ whiles your broker act as the ‘bullet’. After seven years of trading experience, I realized that your broker determines your fate in the world of forex trading. You have to conquer this variable before your success can be guaranteed. Even if you have the perfect strategy combined with a balanced trading psyche, if you are not doing business with the right broker, all your efforts and resources are waste of time. You need a broker who will offer conducive trading environment for you to be profitable.
Most brokers claim to be transparent, reliable and trustworthy when you are about or just signing up an account with them due to the fact that they need more customers in their company. They often act to seem to be nice and caring from their technical department to their customer care department not until they show you their true self. This sudden negative behavior varies from broker to broker, some starts with manipulating your trades and some even go to the extent of not processing your withdrawals when requested. Your withdrawals are the final stage in the chain and also the most important. It is very frustrating to have gone through a lot of brain stress to get profits into your account and then denied the access of withdrawing it. This is the reason why I tell my fellow traders the money you see on the screen isn’t yours till it’s processed out to your personal bank account.
Please be careful when choosing a broker, make sure you do your necessary homework before investing your hard earned money into a broker. Make sure they provide a conducive trading environment such as no stop loss hunting (price manipulation), no execution delays and trade plug-ins, and finally a high level of pay-outs (withdrawals). The broker must also have been in business for at least more than five years of operation. Personally the only broker that has offered me 95% of all these qualities is ‘INSTAFOREX’. It is very difficult to get a broker with a 100% performance but I am 95% satisfied with Instaforex service!
Remember your broker is the bullet that is being fired out from the gun, which happens to be the most dangerous, so think deeply and carefully before making your decision. Do not focus all your attention on the gun (the market) but focus also on the bullet (brokers).