Before I move my money to a broker, I ask myself just one question: how many people does it serve? If the answer is “few,” the conversation ends there. I’ll tell you how I check it and why a single question is enough for me.
It’s not even about withdrawals
The usual question is: does this broker let you withdraw your money? It’s a valid question, but it’s the second one. To withdraw money, you first have to deposit it. And before I deposit, I look at the traffic.
What I check
I go to public statistics services and check how many people visit the broker’s website. I always look at how old the site is. I look at its features. And I always go to its social media: YouTube, Telegram, everything the company runs.
The sources are different and so are the factors. But for me they all point to a single criterion: how many people this broker serves.
The math they scam you with
If the broker has few clients, of course it’s in its interest to scam you. Simply because it’s its only way to make money.
If it has many clients, a different calculation applies. The better it serves them, the happier they are. The happier they are, the longer they trade. And the longer they trade, the more it earns, and for longer.
The same thing happens at the neighborhood market. The butcher who has a line since seven in the morning isn’t going to weigh your order wrong: he needs you next Saturday and a year from now. The lone stall next to the bus terminal sees you for the first and last time, and does its math accordingly.
That’s why the main criterion is traffic. First I count the people. Everything else comes after.
