Can you share some of your insights from working with brokers

[Davidvictorson]

I have been considering this for a while now, and I believe it is the right time to give it a try. I am interested in working with a trading broker, as I have heard a lot about them and I am always open to new experiences. In my understanding, a crypto or bitcoin broker is a person or firm that acts as a middleman between you and the cryptocurrency or market. Can you share some of your insights from working with brokers? What is your worst experience?

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1715199043

[Husires]

In Bitcoin, you do not need a broker to conduct trading, and therefore the person can go directly to the cryptocurrency platform and place orders to buy and sell, so the role of broker is if there are no platforms in your country or derivatives trading (you need a license and it is high risk)

Thus, the only thing left for you is to be a crypto broker for a service that does not exist, as you can work by creating a topic here or through peer-to-peer platforms like Binance P2P, BSIQ, HODLHODL.

[Hamphser]

In Bitcoin, you do not need a broker to conduct trading, and therefore the person can go directly to the cryptocurrency platform and place orders to buy and sell, so the role of broker is if there are no platforms in your country or derivatives trading (you need a license and it is high risk)

Thus, the only thing left for you is to be a crypto broker for a service that does not exist, as you can work by creating a topic here or through peer-to-peer platforms like Binance P2P, BSIQ, HODLHODL.

When it comes in comparison in between crypto and to those standard or those known traditional investment firms then it is really just on the same concept but turns out on different terms been mentioned.

If we do speak about forex/stock brokers then of course you should really be that trusting into a certain company which does really have that good standing and reputation and just like on crypto too on which

it would be that understandable that we should stick on whats the current top known or popular rather than on making yourself getting involved on which are something new.
We do know the risk of scam platforms and brokers out there and this is why we should really be that careful on dealing up with things and proceed out with caution.

[crzy]

I have been considering this for a while now, and I believe it is the right time to give it a try. I am interested in working with a trading broker, as I have heard a lot about them and I am always open to new experiences. In my understanding, a crypto or bitcoin broker is a person or firm that acts as a middleman between you and the cryptocurrency or market. Can you share some of your insights from working with brokers? What is your worst experience?

Does this mean you have no knowledge about trading and wanted to seek the help of professionals?
This could be a good one if you’re a busy person and let someone handle your money, you just need to make sure that you are dealing with the right broker where they are responsible enough if something bad happen. Actually there is no need for a broker in crypto trading, but again it will depend on your situation and if you are willing to pay for the broker, then why not.

[logfiles]

Can you share some of your insights from working with brokers?

Why would you want to work with a broker, yet you can directly deal with a crypto exchange and end up even paying additional fees?

What is your worst experience?

No experience with them, but a few that I have looked into seem to require lots of KYC even before you start trading with them.

Also, very few broker platforms support or even allow crypto deposits and withdrawals
Their trading interface is also not usually advanced or does not contain additional TA features, as is the case with crypto exchanges.

[Strongkored]

Can you share some of your insights from working with brokers? What is your worst experience?

I don't think in crypto it is needed to working with brokers and usually brokers will be used more often in stock and forex trading, my experience with brokers is in forex and it goes very badly and maybe because I chose the wrong broker and my experience actually cannot be used as a benchmark that brokers in trading are not needed.

[noorman0]

Do you have a target market plan, or do you have wholesaler references? In the crypto space where the average exchange can serve global users, the role of brokers I don't think is really needed. Or if the broker you want to work with also offers other services than buying and selling crypto which will not be offered on exchanges in general.
At the moment I don't have many references to the advantages of using a broker over exchanges, except for only flexible transaction fees (which is useful for high trading levels.

[hd49728]

It a person is a professional trader, he can succeed and get rich by trading. When he is rich already, he will no longer have interest to continue working as a broker.

If a broker is still a broker and is doing it as his main job or only job, he did not succeed by trading. If you listen to advice for not-yet successful or failed broker, do you think you will get rich by applying that broker's advice?

[palle11]

Broker is more popular in the stock market. They are those who have studied the stocks of different companies whether correctly or not but they give advise to an intending hodler on which stock to invest on but in bitcoin or crypto trading, I think that broker phase is not really seen or known because it is more of an open unregulated market. So either the exchanges as platform provides that process for trade but not advise because brokers are more of advisory.

[armanda90]

Frustrated with many kinds of broker in forex trading have been scam from withdrawing process delay until they cut off the withdrawing fund from many user, I don't trust yet with several broker for forex trading in my country because they not get legal license from government and indicate scam suddenly when got much fund from member.

I think little wrong when discussing about broker here because in Bitcointalk forum dominance with bitcoin trading on exchange market and not use third party with broker without any legalize yet from their government.

[el kaka22]

I did it once, it wasn't really a pleasant feeling. Back when I first got into stocks around 2009 to 2010, I started working with a broker, and I explained to him that I wanted to deal with stocks that have dividends because usually before the dividend payment date the price goes up, so you get the dividend AND the increase together, and he kept on insisting that other companies do not pay dividends and goes up higher because of that since they use all of that to grow.

I explained to him many times that simple math would be like that but they don't, and they won't, it is not just about math, it is about humane psychology on the market and that's how I wanted to invest, and after a while I got annoyed enough to stop.

[Wapfika]

Broker is more popular in the stock market. They are those who have studied the stocks of different companies whether correctly or not but they give advise to an intending hodler on which stock to invest on but in bitcoin or crypto trading, I think that broker phase is not really seen or known because it is more of an open unregulated market. So either the exchanges as platform provides that process for trade but not advise because brokers are more of advisory.

When it comes in crypto it’s not really that popular since the market is too wide and there are many altcoins to consider with unlike in stocks that only known companies should be study and the price didn’t move that much. Broker mostly in my country were refer as agents or finance coach, they are hired to trade the money but only in stock market some even have broker in real estates and insurances. But never heard  yet if also have in bitcoin, though there are financial wealth coach who do talking or seminars about crypto.

[GeorgeJohn]

Broker is more popular in the stock market. They are those who have studied the stocks of different companies whether correctly or not but they give advise to an intending hodler on which stock to invest on but in bitcoin or crypto trading, I think that broker phase is not really seen or known because it is more of an open unregulated market. So either the exchanges as platform provides that process for trade but not advise because brokers are more of advisory.

In the normal circumstances you don't need brokers for Trading,  for Trading what we need to know concerning Trading is the ability to interpret the chart of the market, so the aspect of brokers is like marketers who is looking for the easiest way of making directions of how you can exchange your btc in that domain.