17:47 GMT+3 / 18.04.2024

How to choose a reliable broker to trade in all markets?

At first glance, the topic of choosing a broker is already worn to holes, thousands of articles have been written and rewritten. However, not everything is so clear. The market is changing, international relations are changing, something new appears, and something loses its relevance. It is for this reason that we decided to prepare this material, which, according to our idea, should help novice traders not get confused in this very serious issue and not make a mistake with the choice. We will highlight the main criteria for choosing a brokerage company, as well as a specific example of our information partner broker NPBFX, we'll show you exactly what to look at and where to look for it.

NPBFX International Broker is a company providing financial services since 1996. The broker's clients are provided with direct access to interbank liquidity using STP/NDD technology, which completely eliminates conflicts of interest. The company offers trading on favorable terms in currencies, stocks and ETFs, indices, energy carriers, precious metals and cryptocurrency.

We have arranged the selection criteria from the most significant to the least significant, but mandatory when analyzing the broker. In principle, these criteria can be used as a checklist, step by step "screening out" unsuitable companies for them. So let's get started.

#1. Date of registration of the organization

This is the first thing to pay attention to when analyzing a brokerage company. Serious financial shocks occur periodically in the world. This is 2008, 2014, and the coronavirus recession of 2020. Many brokers went bankrupt during these difficult times, but there are also those who were able to survive during these periods, which indicates a stable business model and reliability. In this regard, brokers who have been on the market for 1-2 years, and even more so "freshly baked", who are a week old, definitely exclude them from the list. It is very important to track the entire history of the company's development, because rebranding or restructuring may take place. It may happen that the company has been operating for more than 10 years, and a year ago there was a rebranding. Without studying the information to the end, you will consider the broker young and remove it from the list.

Example with NPBFX. NPBFX broker has been serving clients from all over the world for 26 years. Until 2016, the services were provided by the Russian bank "Nefteprombank". After that, there was a rebranding, a new brand was presented to the markets – NPBFX (NEFTEPROMBANKFX). The broker's development history is publicly available on the official website. Therefore, it is important to carefully study all the information that we have written above, and do not spare time for this.

#2. Countries served

This criterion has now become one of the most relevant on the market, especially for citizens of the Russian Federation and Belarus. Many Western, and not only, brokers have stopped serving clients from these countries for political reasons. You will not be able to register and trade in such companies. This is not critical, since there are serious brokers who do not have these restrictions.

Example with NPBFX. NPBFX international broker discusses citizens of the Russian Federation and Belarus on general terms, so you will not have any problems with registration and trading.

#3. Trading conditions

After being selected according to the first two criteria, your list will be significantly reduced. The next thing you need to pay attention to is the trading conditions that the broker offers to its clients. Absolutely everything needs to be analyzed here. Start by studying the types of accounts. What are offered, what are the minimum deposit requirements, what margin leverage, etc. It may turn out that your capital is not enough even to open a basic account. Some brokers may have a minimum deposit of $1,000 or $10,000. The same applies to leverage. Some of the brokers can provide a maximum of 1:100, and some even 1:50. Not every trading strategy will be able to show its effectiveness on such a small shoulder. It is also important to understand the relationship that the smaller the leverage, the more you will need a deposit to get more or less tangible profit from the market.

Example with NPBFX. For example, in NPBFX you can start trading with only $10 or 500 Russian rubles. These are the minimum requirements for a deposit on the Master account. In addition, using this type of account, the trader has the opportunity to trade using a leverage of 1:1000. We would like to draw your attention to one more important point. The broker offers its clients various financial payment options, including bank cards, electronic money and crypto wallets. As you know, now many financial institutions are experiencing significant problems with payments due to sanctions.

#4. Available trading assets

The pool of trading instruments offered by the broker is an equally important issue when deciding on cooperation. Carefully study the entry into which markets the company offers you. This will make it possible to form a full-fledged trading portfolio of different assets in the future, which will make trading more flexible and secure. Even if you are not familiar with hedging yet, then with experience you will definitely start insuring your open trades in other markets. That's when you will need, for example, gold, which helps to wait out inflationary and geopolitical risks. Or oil, which is growing steadily and can insure any unprofitable position. It is highly desirable that the broker provides the opportunity to trade all instruments on one account. This will save you from unnecessary "jumps" on different accounts, which prevents you from comfortably controlling trade transactions.

Example with NPBFX. In NPBFX, you can trade assets from 5 markets at once from one trading account. You can form a trading portfolio of fiat currencies and crypto, stock market stocks and indices, as well as include precious metals and energy carriers in it. In total, more than 130 trading instruments are available. This amount is enough to implement any trading strategy.

#5. Broker's reputation

After filtering by the four previous criteria, most likely, you will have only a few companies left. Now it is necessary to analyze how the broker's clients feel, whether they have complaints or, on the contrary, they are satisfied with everything. Why we put, it would seem, such an important criterion as reviews in the last position. In fact, we do not reduce its significance at all, but it is worth considering it after all the previous ones. And by no means use it as the only one in making a decision about cooperation. If you find a few negative reviews, this is not a reason to give up on the company. It is necessary to study each comment in detail. This may be the black PR of competitors or trolling of users who have never traded in the company. There are situations when a trader blames the broker for his problems, although during a detailed investigation it turns out that the reason is the incompetence of the client himself. There are thousands of examples. Therefore, you need to approach any negative carefully and be sure to read what good things are written about the company.

Example with NPBFX. About NPBFX on the Internet, you can find hundreds of reviews from the company's customers over the years of service. Our analysis showed that 97% of them have a positive tone. This is an excellent indicator. Yes, there are also negative reviews. But, somewhere the client did not study the rules for using the traded bonus and suffered losses, somewhere he tried to withdraw profits to other banking details and wrote a negative to the company that he was not being withdrawn money. There are no really serious problems. And the work experience since 1996 inspires confidence. A significant advantage of the broker is the insurance of 20,000 euros for each client from an independent SRO – Financial Commission, of which NPBFX is a member.


We are sure that you have already realized that choosing a broker is a very serious and responsible task. It requires a certain amount of experience and knowledge from the trader. In addition, a deep analysis of the market will require time. If you are not sure that you will be able to cope with this on your own, then we recommend choosing our information partner - NPBFX broker to start. Thanks to this article, you already know a lot about him, and more detailed information is available on the official website of the broker.

03 September 2022

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Trading in Financial Markets carries a high level of risk for investors. All materials are published for informational purposes only.