so you guys are looking for brokers you
want high leverage you want good spreads
you want all the things that you find in
a good broker so in this video
i'm going to show you a few things that
you really need to look
out for as well as how to find the right
broker that suits your
trading style
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welcome back to the channel everybody my
name is artie and this is the moving
average a show where we discuss
everything day trading to keep you
profitable on a consistent basis
so with all of the regulations coming
out all across the world with brokers
and different leverage types
people are looking for a new broker for
example in the united states you're only
allowed to have a 1 to 30 leverage
account that's why a lot of people go
offshore a lot of different brokers are
actually in australia because you can
get higher leverage there but now with
the regulations changing in australia
they're moving to lower leverage i
myself was using blueberry markets for a
long time
but since the regulations are changing i
had to cancel that brokerage account and
go for a new one
after scouring the internet for a very
very long time
and testing out multiple brokers i
finally landed on one i will tell you
what it is later on in this video but i
want to tell
you what things you should be keeping an
eye out for
when choosing your broker so the main
things that you want to do
is to stay in profit right so to be
profitable
you need to have low spreads meaning the
buy and
sell prices at any given time are very
tight
so that the price doesn't have to go up
too much to get out of that spread for
you to get into profit
a one pip spread is very very nice and
that's kind of the standard that i'm
looking for across the board the next
thing you want to consider is the
commission
how much money is your broker taking
every time that you place a trade for
example my broker takes
seven cents for every .01
lot size position it's pretty small some
brokers actually offer commission
free trading which is good in theory but
if their spreads go from one pip to five
pips but they have no commission
you're actually paying a lot more the
next thing that you want to consider
is what you like trading do you like
trading forex do you like trading crypto
do you like trading indices you need to
pick a broker
that allows you to trade the things that
you want to trade
me for example i love trading ethereum i
love trading us 30
and i love trading one 4x pair
australian dollar us dollar so if i have
a list of brokers and they don't allow
me to trade those three things
they're not even a consideration so when
choosing a broker what do you need to do
the only way to realize how good the
broker is is to actually test them out
you can sign up for any broker that you
want
and you can create a demo account with
that broker
that way you can see the spreads you can
see the commissions
if you have issues you can contact their
customer support and see if that is good
the only thing you can't test
is if your funds are withdrawable with
ease so
just do a quick youtube search or a
google search to see
how good that broker is when it comes to
withdrawing now the next thing to
consider
is the position size and contract size
that your broker
offers a lot of my inbox is people dming
me
about why my .01 on us 30
makes more money than their .01 and it
all has to do with the contract size and
you can actually find that out
when you open up a demo account with
your broker i will show you that
right now so when you open up a demo
account with your broker you can
use mt4 just log into mt4 on your phone
using the username and password that was
emailed to you from your broker
it's a username for your demo account
and a password for your demo account you
can create a demo account with any
amount of money that you want in it
i would consider using a reasonable
amount something that you would start a
real
live trading account with like 100 or a
thousand dollars
don't do these hundred thousand dollar
demo accounts because it teaches you
reckless practices when you're beginning
so for me you can see the three things
that i like to trade the most
ethereum us 30 and australian dollar
us dollar and you can also see the
spreads here i basically have
a one pip spread on 4x pairs which is
really
really nice it's the difference between
the buying and the selling on us 30
it is a two dollar spread which is very
very nice
and on ethereum because it's a
cryptocurrency and it is more volatility
it's a much higher spread at three
dollars but it's far better than bitcoin
on my broker because bitcoin has i think
like a hundred dollar spread which
sucks don't don't do big spreads now to
find out the contract size
what you want to do is click on it and
you can either trade
look at the chart or get the details on
the details tab
it will show you the contract size how
much the swap is if you let the trade go
into the next day and all of the
information that you need to know on
here but to really test it out you just
want to trade you want to make
three different orders you want to buy a
.01
you want to buy a .10
and if you've got enough money in your
demo account you want to buy a one
standard lot this will actually show you
in dollars how much you can make
for each dollar move on us 30 or a forex
currency pair
or a cryptocurrency pair and one of the
main things that you want to look out
for because some brokers are notorious
for this
when you click on a position and you
want to close it
and you click this close with loss
button or close with profit button
how long it takes to actually execute
this trade
some brokers have a very long lag time
which is just enough
for you to make less money and or not be
in profit anymore if you want to close a
trade at break even
so click the close button and see how
fast this occurs
so for me my requirements are a low
spread being able to trade crypto
currencies and
indices a high leverage either 1 to 200
or 1 to 500
and the ability to withdraw in
cryptocurrencies because i kind of like
to stay
under the radar in order to do that i
had to go with a
unregulated broker which means they're
not regulated by any government body
i am allowed to pay in crypto currencies
and withdraw
cryptocurrencies so every one of my
trades that go into profit
at the end of the month i'll transfer to
bitcoin transfer that bitcoin into my
bitcoin wallet take out what i need for
living expenses
through a bitcoin atm and i'm a happy
camper so in order to meet all those
criteria
my actual like pool of different brokers
to choose from was quite small and then
i had to sift through which ones were
crap and which ones were good i
eventually landed on
osprey fx they allowed me to trade
crypto
they got great spreads low commissions
and i can use crypto it's simply a
personal preference for me
and it might not fit your trading style
so what you need to do is take into
consideration all the things that i said
in this video
and what your trading style is and what
you're looking for out of a broker
and then just go with them but what you
need to do to find that is actually test
each one
create a demo account on all the brokers
on your list that meet your requirements
test them out see if they're good demo
on them if you like it
sign up pay in money to that broker and
use them now if you guys want to sign up
for osprey there's a link down below
but if you're still watching this video
guess what that means that you like the
video
so if you wouldn't mind go below my face
and click the thumbs up button
it really makes me feel good about
myself and it helps the channel grow and
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and we'll see you in the next one