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Questions To Ask a Broker

First Set of Questions to ask

Now, the questions you want to ask are very simple, very basic.

  • Are you regulated?
  • Who are you regulated by?
  • Are you located in my country?

(Note: Having a broker in your own country isalways a good thing. If you have a broker located outside of your country, you give up basic rights as a citizen. You do have rights as a citizen where you live if your broker’s located, where you live, because there’s a governing body.)

Second Set of Questions to ask

  • Do you have any technology?
  • Can I place trades over my phone?
  • Can I place trades online?
  • Do I have to download something?
    • Is it desktop? Is it web-based?
    • Does it work on Macs? Does it work on PCs?
  • What are you using to trade with?
  • Do you have a demo? (A demo account’s like fake money).
  • Am I able to practice before I open up an account? (Using the demo account)
  • Do you charge for the data feed? If so, how much is that?

Ask About Commissions

What are your commissions?

When you place a trade, your broker is going to charge you a commission or a fee for every trade you enter in, every trade you close. ( Why commissions? because they’re going to handle all the compliance side )

We call those round turn fees.

To understand and know thier fees, Ask them – I plan on placing 20 trades in a month. What am I looking at? I’m going to trade 20 micro contracts, or I’m going to trade 20 round term e-mini contracts. What does that look like?

15 Comments

  1. Robert Johansen
    June 24, 2021 @ 12:24 am

    Who do you recommend? I live in the US

    Reply

    • Traders Agency Analyst
      July 20, 2021 @ 10:34 pm

      Hi Robert. Thanks so much for dropping us a comment. There is a variety of broker platform option and we suggest test driving a few demo accounts for you to get a feel for which you’re most comfortable operation on. There are many tutorial videos on the web to be viewed as well. We look forward to working with you!

      Reply

  2. Wilbur Arrington
    June 24, 2021 @ 2:29 am

    Josh,
    Do you use Ninja Trader 8? And if so, are they a reliable broker? I’m really interested in them, because I see you use it all the time.

    Reply

    • BR Spurr
      July 19, 2021 @ 11:52 pm

      Hi, thank you for reaching out. Each platform is different depending in what you are trying to do do. The Tunnel Trader Add-on is available in three platforms. You will also need a broker that is compatible with the charting platform you choose.

      With NT8 you can have the indicators + self directed auto strategy as long as you can run NT8 on your computer (Windows 10) . You will need a NinjaTrader Trader+ license to have the automation features enabled .

      With Tradingview for now you are limited to indicators only + alerts for when the lines touch the bars. From TV you can use Pro, Pro+, or Premium depending on the features that you would like such as having TV on multiple devices, doing open ended alerts, and creating many layouts.

      Finally we also offer the Tunnel Trader (indicators only) in the TradeStation 10 desktop program which would have to run on Windows 10.

      Kind regards

      Reply

    • Traders Agency Analyst
      July 20, 2021 @ 10:32 pm

      Hi Wilbur. Thanks so much for dropping us a comment. We here at Traders Agency utilize a variety of brokers. Our best advice would be to try a demo account on whichever brokers you’re considering and/or look to some tutorial videos for some information. They all basically accomplish the same thing, however there’s a lot of personal preference when it comes to selecting a broker. I hope this helps you through your journey. We look forward to working with you!

      Reply

  3. Nicole Gilfert
    June 24, 2021 @ 2:31 am

    This was very helpful. Thank you so much for all your help. No matter what it is that I have issues with attaining or understanding, your always there to my rescue! Like a super hero! Joshman! Or like futuresman! A real day superman. Thanks Josh!

    Reply

    • Traders Agency Analyst
      July 20, 2021 @ 10:29 pm

      Hi Nicole! Thank you so much for you comment. It truly means everything to Josh and his entire team that all of their students are finding incredible value in the content and research we deliver. It’s more thank our pleasure to help and we look forward to working with you!

      Reply

  4. Daniel Tu
    June 25, 2021 @ 7:48 am

    Hello Josh,

    This is Daniel Tu. How are you? Hey Josh, please allow me to give you a compliment of yourself, and there is no word describe you as smart as well organized as well documented public figures. I really like all your posts which are so meaningful to me as I have learned all the techniques of investments. Again, thank you.

    Reply

    • Traders Agency Analyst
      July 20, 2021 @ 10:27 pm

      Hi Daniel. Thank you so much for the kind note! Josh and his entire team are here to serve the students with the highest level of commitment to market research and education excellence. We look forward to working with you!

      Reply

  5. Faisal Rachman Rachim
    July 7, 2021 @ 6:14 am

    Bubble economic can rise inflation every time I”am so sorry

    Reply

  6. Daniel
    July 7, 2021 @ 5:51 pm

    Who do YOU recommend in uk ?

    Reply

  7. Denis
    August 19, 2021 @ 5:55 am

    I have a TDameritrade account. Can this work with trading view and ninjatrader auto

    Reply

    • Traders Agency Analyst Anthony Speciale
      August 19, 2021 @ 5:37 pm

      Hi Denis. Thanks so much for taking the time to read our article and leaving us a comment. When it comes to placing orders, any brokerage can handle that. As far as uploading our indicators, we host them on the following platforms: TradeStation, NinjaTrader & TradingView. Automated strategies we offer only function on NinjaTrader at this time. Happy Trading!

      Reply

  8. Matthew
    August 30, 2021 @ 4:48 pm

    If I am using TradeStation, do I place my trade on the Trading View platform that’s connected to TradeStation or place trades on TradeStation platform? As I understand TradeStation is also a brokerage firm
    Thanks

    Reply

    • Traders Agency Analyst Anthony Speciale
      August 30, 2021 @ 5:15 pm

      Hi Matthew. Thank you so much for leaving us a comment. Yes, you can link your TradeStation account directly to your TradingView account. You’ll then be able to place and manage your trades directly on your TV charts. It works seamlessly. You are correct, TradeStation is a brokerage platform. Happy Trading!

      Reply

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