Hello, guys! I would like to know which broker to use (which is safest) to invest 50-100K $. ?? I am just plain scared to do that. I know there are a lot of brokers, who dont treat their clients right. I am just scared of losing this money ( not because of my trading style, but because of the broker company actions) Thank You very much and sorry for my bad English!
You are far more likely to lose your money from your own trading incapabilities than from brokers. Like that is 95+% of your problem.
I would consider any broker that is a member of the SIPC to be "safe." By this, I mean that you have some recourse in the event the brokerage itself fails (similar, but not identical to, the FDIC in banks). Pretty much any named broker you can think of will be in this category. You can find out if a broker is a member of the SIPC (as well as more about them) at their website: http://www.sipc.org/who/database.cfm The SPIC isn't there to bail you out from bad investment decisions, so as the previous poster mentioned, you're on your own in that department.
I might switch to Interactive Brokers..........SIPC insurance and Lloyd's insurance up to a few millions dollars (I believe it is......) As long as you are daytrading euro futures, your money should be 101% safe as far as broker bankruptcy is concerned..............
alright well if you have managed to amass 100K on your own and are not a trust fund baby then i would suggest that you do your own investments. With 100K you could even start looking into venture capital.... = you give money to someone who has the next microsoft idea. As for the whole trading idea. if you take the 100k split it up among some big caps such as aa ba msft mcd bac jpm bonds treasuries even regular CD's then over the long run (5-10) years you will be able to make some money.
get an old maytag box and a deck of cards........ go to s. broadway and canal and set up shop. "FIND THE QUEEN"
With what companies like "Interactive brokers" differ from , for example, Oanda or fxcm? Is it safer or what? Thank You!
Oanda and FXCM strictly deal with the foreign exchange (FOREX). Interactive Brokers allows trading in a wide range of products: futures, equities, options, forex, etc. I don't believe SIPC protection extends to foreign exchange accounts, but I could be wrong. Again, you need to differentiate between what you are calling: "safe." You're not going to find anywhere that protects you against bad investments. Protection is only against criminal fraud or actual theft. You probably need to be more careful when picking a Forex broker, as that seems to be the current "get-rich-quick" instrument of choice, so there's a lot more shops setting up trying to cash in on the fad. Check the review section and see what brokers people are using, check their websites, and do some research on their financials. If you find one that meets your needs, nothing says you need to plunk down $100k immediately. Stick $10k in there and see how it goes.
In my opinion "safe" means that I will never have any problems withdrawing my money, I will never have to worry about my money being safe in case of possible brokerage bankrupt etc... Currently I want to stay with Forex, so that is why I need to choose a safe Forex broker. So, I guess, Interactive brokers sound as a safe choice. Thank You guys for your advice, I will continue my search