How to choose a reputable and reliable Forex broker? The international Forex industry includes scams along with reputable brokers. With that said, it is crucial to focus on several aspects when choosing a broking company to go with…
You can look for the client feedback to see whether the broking company’s promises match the reality. Still, there is risk that some comments may be sponsored by the very company.
The second variant is to look for other relevant information like the operating history, licenses from major regulators and prestigious awards etc. Still, some of those factors can be delusive for rookies and even intermediate traders.
At the same time, it is crucial to cooperate with a reputable broker since only such businesses are capable of giving you stability and security in every single aspect related to Forex trading. They make use of the so-called client-oriented approach where the client’s profit equals the company’s profit. Such companies provide beneficial trading conditions coupled with security of funds, transparency, flexibility and innovation. Indeed, such companies are interested in their clients’ long-term success unlike scams and dirty dealing centers, which are focused on depriving their clients of their money.
If you want to tell fakes from reputable brokers but do not have time, desire or experience to do that, you can make use of Masterforex-V Expo, a popular online project embracing unbiased ratings of Forex brokers. It is owned by Masterforex-V Academy, Europe’s Ultimate Online Forex Coaching Solution.
The unbiased ratings are based on transparent criteria. On top of that, the experts introduced a new way of defining the true essence of any broking company. It is called a test drive.
The latest test drive was given to the broking company known as Larson and Holtz. Let’s have a closer look at the results of this test drive…
Larson and Holtz Tested
The test drive was conducted to test several aspects at a time. The list includes:
• 5 live accounts – 3 accounts for beginners and 2 NDD accounts
• deposit/withdrawal options
• the quality of services
• the efficiency of promos and bonuses
The focus was made on accounts for beginners and NDD accounts. The former are for rookies (low risk, absence of re-quotes, competitive spreads, majors, deposits from $25) while the latter are for advanced traders (currencies and CFDs, aggressive trading, deposits from $300). On top of that, the peculiarity of NDD accounts is that client orders are sent directly to liquidity providers without the broker’s interference.
On top of that, the users are given a unique chance to enjoy the industry’s most prolonged zero spreads. The list of tested parameters also included the speed and precision of quoting, order processing and execution as well as expenditures, spread behavior on news, trading software efficiency and client support.
If to consider opening and closing trades, they speed is almost instantaneous and without slippage.
This is what Bay_Yol (one of the testers) says:
On the surface, the company’s website seems overloaded with information. Later, when you get used to it, everything seems pretty comfortable – convenient links get you where you need it pretty fast.
Before withdrawing funds, you should confirm your ID by sending a screenshot of your passport as well as a signed withdrawal request when withdrawing over $2500. Deposit options are standard - most online payment systems + bank transfers.
The spreads on NDD accounts are acceptable - 2-3 percent on majors. During news releases, there are practically no gaps, which is a benefit as well. Market execution is instantaneous, without delays (at least, I didn’t have any). Limit orders are executed at the desired price. Stop-loss and take-profit orders see no slippage during a calm market.
All in all, several dozens of market and limit orders were executed to test he execution speed and slippage. I have no complaints…
U-sin, the other tester, shares his colleague’s standpoint. The market execution is really fast. Pending (limit) orders can be placed anywhere starting from 1 nano-point away from the current price. The spreads are low as compare to other broking companies working with the same technology.
Al in all, the tested aspects were rated “A”, which means that Larson and Holtz can be called a reputable broker with excellent trading conditions and other benefits. It certainly deserves trust. This is confirmed personally by Masterforex-V Academy and its trading experts.
