2024-09-21 21:46
IndustryEvaluating Brokers with Simple Questions and Negot
When evaluating a broker, it's useful to start by pretending to be inexperienced and asking basic questions. This can expose the rep's knowledge and honesty. A trustworthy broker won't dig themselves into a hole. Once softened up, you might even negotiate better spreads or commissions. In my case, the broker claimed I’d get an ECN account with a commission on top, and initially quoted an "only" 0.8 pips spread on the Fiber. From there, the conversation quickly deteriorated.
**Comment**: This tactic is a clever way to gauge a broker's transparency and professionalism. If they're deceptive early on, it’s a clear red flag.
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Evaluating Brokers with Simple Questions and Negot
| 2024-09-21 21:46
When evaluating a broker, it's useful to start by pretending to be inexperienced and asking basic questions. This can expose the rep's knowledge and honesty. A trustworthy broker won't dig themselves into a hole. Once softened up, you might even negotiate better spreads or commissions. In my case, the broker claimed I’d get an ECN account with a commission on top, and initially quoted an "only" 0.8 pips spread on the Fiber. From there, the conversation quickly deteriorated.
**Comment**: This tactic is a clever way to gauge a broker's transparency and professionalism. If they're deceptive early on, it’s a clear red flag.
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