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Educational content, not investment advice.

Souq Dailyسوق ديليSouq Daily

Lesson 1 of 84:055 Sources

How to choose a broker

Video coming soon

Presented by NourIn Arabic, with captions. Other languages are coming.

Educational content, not investment advice. Nour explains how markets work. She never tells you what to buy or sell.

Choose a broker with four checks, in this order: licence, total cost, execution and withdrawals.

  • Verify the licence yourself on the regulator's official register, and compare the legal name, website and contact details to avoid clone firms.
  • Compare total cost, not the advert: spread + commission + swap. A "no commission" account can cost more per trade.
  • Read the order execution policy and watch slippage.
  • Read withdrawal terms, start small and test a withdrawal early.

Quick check

Three questions. Pick an answer to see why.

0/3

  1. 1.Where should you verify a broker's licence?

  2. 2.Account A: 1.5-pip spread, no commission. Account B: 0.3-pip spread + $7 commission. For 1 lot of EUR/USD ($10 per pip), which is cheaper?

  3. 3.What is a "clone firm"?

Sources

Every fact in this lesson is backed by the sources below.

  1. 1.FCA — How to check a firm or individual is authorisedCheck the register before dealing; compare contact details; clone firms; avoid 'no longer authorised' firms
  2. 2.IOSCO — I-SCAN investor alerts networkIOSCO alerts network listing warnings from member regulators about unlicensed entities
  3. 3.ESMA — Final product intervention measures on CFDs (2018)EU retail CFD protections: leverage limits, margin close-out, negative balance protection
  4. 4.FCA Handbook COBS 11.2A — Best executionBest execution: all sufficient steps for best possible result (price, costs, speed, likelihood of execution)
  5. 5.FCA ScamSmart — How to avoid investment scamsWarning signs: unexpected contact, pressure to act fast, too-good-to-be-true offers; legitimate firms will wait

Educational content, not investment advice. Risk warning: trading forex, CFDs, gold and crypto carries a high level of risk and may not be suitable for everyone. You can lose more than you put in. Souq Daily is an education platform. Nothing here is investment advice, a recommendation or an offer, and past performance does not predict future results.