Broker selection

[Carl Schreiber]

MetaQuotes (MQ) is NOT a broker nor does it provide any financial, investment, brokerage, trading or data feed services, nor is it involved in any commission payments in connection with any trading operations.
Any money that you transferred to your account with MQ should be meant for paying market products, signals, and or the MQ-VPS.

Only earned money can be withdrawn easily otherwise you have to contact the Service Desk.

Any kind of discussion and/or recommendation about broker and their services are strictly forbidden in the MetaQuotes forums.
Please accept and respect this. This means that you have to take into account the following considerations and search for the information to find the broker that suits you best personally!

Basics:

• How/Where is the broker regulated?
• Consider how your broker should work: Market Maker, ECN, or STP?
  
• How is your capital managed?
• What happens if the account balance would turn negative (margin call or just closing all positions)?
• Is there any information about protection of client's funds in case the broker goes bankrupt?
• Is there information about dispute resolution in case of complaints?
• How fast is your access to the broker’s server (ping)?
• Which kind of accounts are offered with which capital requirements and costs?
• Which symbols are offered for which accounts?
• If you want to trade Signals, are the symbols offered the same as those of the Signals?
• Is scalping accepted if that is your trading strategy?
• What form of authentication is offered for the account login?
• Which trading platforms are offered?
• Clients of which countries are accepted or not accepted.
• What payment methods are offered for transferring and withdrawing that are convenient and work for you?
• How quickly is a payment usually completed (credited to the account)?
• Ask for broker reviews on the Internet.

Preferences:

• How does the customer service support you?
• What further training offers / training materials are available?
• Are there demo accounts?
• Are there additional offers such as VPS (at what price)?
• Could there be any problems with your tax authority if you trade through a particular broker from another country?

If you nevertheless believe that you have been treated unjustly and adversely by your broker, you can try the following:

• Contact your broker's support with your well-documented complaint and explain why this should not have happened.
• Contact the broker's stated dispute resolution and state your case (well documented).
• Contact, well documented, the regulatory authority indicated by the broker.
• Try to file a complaint with the police at the broker's location,
• Try to file a complaint with the police at your place of residence,
• Hire a lawyer.

[Fernando Carreiro]

This seems new as I have never noticed before, but it seems that the MetaTrader 5 Website now offers broker recommendations:

• Brokers List — https://www.metatrader5.com/en/find-broker

[Ryan L Johnson]

Fernando Carreiro #:

This seems new as I have never noticed before, but it seems that the MetaTrader 5 Website now offers broker recommendations:

• Brokers List — https://www.metatrader5.com/en/find-broker

FYI for U.S. traders... When I visit the above link, all broker information is grayed out. This is likely due to the fact that promoting broker-dealers without full and specific risk disclosure is illegal and heavily policed by the U.S. CFTC.