Yes, you are right! To trade more effectively, a trader should check their trading conditions, regulations, spreads, and commissions when choosing a broker. After that, you can check what type of promotional programs they offer like deposit bonuses welcome bonuses, and many more.
Hey! I have been doing some comparison on several brokers; if you could recommend one based on your experienced with them, that would be great
I prefer trading with brokers that do not provide any bonus offers since most of them are scammers. It is better to choose a regulated broker such as CMC or FP Markets. I trade with FP Market, and they provide lower commission costs, which are $3 per lot, with over 10,000 different instruments to trade in stocks and commodities.
I agree as well, using a higher deposit broker is not safe since they are mostly scammers. It is better to trade with regulated brokers such as ICM, CMC, or FP Markets.
In my opinion, high bonus is very risky because most brokers who offer high bonus are scammers or have a catch that is only revealed after investing in it. I suggest using properly regulated brokers like Etoro, CMC, or FP Markets that provide high leverage and low commission costs.
I do agree that high deposit bonuses are mostly a scam, and it's one of the most used methods by scammers to lure in traders. It is better to use good, regulated brokers or older brokers that have been in the forex business for over a decade, like ICM and FP Markets.
If you are not an experienced broker, I suggest avoiding using high deposit bonus brokers because they carry a higher risk, and some high-deposit bonus brokers are scammers. Trading with top-tier regulated brokers like Etoro, CMC, or FP Markets is safer since it is under govt regulation and there is no room for errors during live trading.