Best Way to Test a Broker Before Adding More Funds?

[Rickshaw]

Hi folks, my question is pretty basic. When you switch to a new broker, how do you test them before fully committing? I know about demo trading, but it does not give the full picture. I have opened small accounts with a few brokers like Titan FX, Vantage Markets, and Hola Prime Markets because I liked their trading conditions. I wanted to know if anyone else does this when choosing brokers and what methods you use to decide if a broker is good enough to start trading with a larger amount of capital.

So far, I am satisfied with the execution speed, withdrawal processing, and customer support. I just wanted to ask if there is anything else I should be checking with a small account before adding more funds. Thanks in advance.

 

[danielhoward]

I think you’ve already checked all the important things. I’d still say give your small account some more time and practice. You can gradually add more funds as you grow, but scaling up all at once requires more planning and risk assessment.

 

[Rickshaw]

I think you’ve already checked all the important things. I’d still say give your small account some more time and practice. You can gradually add more funds as you grow, but scaling up all at once requires more planning and risk assessment.

Thanks for the advice. I won’t be scaling up in one go, and a bit more practice never hurts. I’ll stick with a small account until I’m confident enough to take on more risk.

 

[Cheeky]

Good approach. Most traders don’t even bother testing on a demo before signing up and then end up losing funds by choosing the wrong broker. If more traders were this cautious, there would be far fewer cases like that. Having said that, I’d suggest running the account for at least a month before adding more funds.