Some tips when choosing a broker:

Are you a regulated broker?

One of the first steps is to check if the broker is regulated. This is done by verifying the different records in which these types of companies must appear, such as the NFA and the CFTC, although there are several different entities or regulatory bodies. If, for example, the broker mentions being regulated by the CNMV (which is the financial regulator of Spain), this can be verified on the official website of the CNMV, with the broker's regulation number.

Which Are the opinions and comments about the company? (Broker reputation) As the question says, what do other traders say about this broker? Just as you should do some research when buying stocks (or lean or not, for a certain investment), you should also do it before selecting one broker or another.

Do some research on the broker with which you are thinking of opening an account. Asking other traders (investors) is also a good idea. Think of it as when you want to buy a second-hand (used) product from a seller, it is best to buy from a seller with a good reputation and a positive rating. A salesperson who has already made a lot of sales. Investigate before if he is a good seller, if someone has already bought from him before.

Is your customer service good?

There is nothing as irritating as waiting and waiting and waiting for help. A good idea is (before opening your account), check the company's customer service with a question, so you know how long it takes to respond or contact you.

Imagine being in the middle of an operation and you need customer service for a technical problem, but the broker's support does not answer you. It won't be fun at all. It is a fundamental point.

Does it have customer service in your language?

Customer service in your language is very important, because if you later have a problem or doubt, you should use it.

The language of the platform is also important, as you will have to deal with it (and master it) while trading. If you are fluent in English, the chances are that you will have many more options to choose from when it comes to brokers.

What trading platform will I use?

 The trading platform, for an investor, is their entry into the markets. Be careful with this. As a trader you should ensure that you can understand and use the platform and the software. Some of the most popular platforms are MetaTrader, Ninjatrader, Sirix, or Ctrader.

Some brokers also have their own platform developed by them. A good idea is to look for explanatory videos (tutorials) on YouTube, so you can see how the platform works.

How much do you need to deposit to start operating on the internet? (Minimum initial deposit)

Another very important item (for some traders) is how much the broker asks for as an initial deposit. Some traders prefer to start trading with small amounts (or no) of money, or with large amounts in order to diversify more. This is one of the aspects that as a trader you should have well defined.

- Frequently asked questions and doubts -