23 Nov

how to choose best forex broker

admin Learn Forex Trading 0 Comments

Security: There are many online Forex brokers and lots of them are actually scams cheating on their clients. To avoid unnecessary issues, it's better to entrust money with a regulated Forex broker. Regulated Forex brokers are under supervising of a trustworthy regulatory agency. The strictest broker regulations exist in Europe, Northern America, Japan, and Australia. So, before depositing any money on your Forex trading account, check whether or not your broker is registered with a minimum of one among the following agencies.

United Kingdom: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
United States: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
Australia: Australian Securities and Investment Commission (ASIC)
Switzerland: Swiss Federal Banking Commission (SFBC)
Germany: Federal Financial Supervisory Authority (BaFIN)
France: Autorité des Marchés Financiers (AMF)
No matter what kind of currency trader you are, like it or not, you will always be subject to transaction costs.
Transaction cost or Spread or Commission: No matter what quite currency trader you're, like it or not, you'll always be subject to transaction costs.
Every single time you enter a trade, you may need to pay for either the Forex spread or a commission therefore it's only natural to seem for the most cheap and cheapest rates. Generally, you'll need to sacrifice low transaction for a lot of reliable broker.
Make sure you recognize if you would like tight spreads for your kind of trading, so review your available options. It’s all about finding the right balance between security and low transaction prices.
Ease of Deposit and withdrawal: Good Forex brokers can allow you to deposit your funds and withdraw your earnings harass free. Brokers extremely haven't any reason to make it hard for you to withdraw your profits as a result of the only reason they hold your funds are to make trades.
Your broker only holds your cash to make trading easier, thus there's no reason for you to own a hard time obtaining the profits you've got earned. Your broker should certify that the withdrawal process is speedy and smooth.
Each Forex broker has specific account withdrawal and funding policies. Brokers could allow account holders to fund accounts on-line with a wire transfer, or via ACH payment, or via PayPal, or bank check, or with a credit card, or cheque or business. Withdrawals will usually be created by check or by wire transfer. The broker could charge a fee for either service.
Trading platform: In on-line Forex trading, most trading activity happens through the broker’s trading platform. This suggests that the trading platform of your broker should be easy and stable.
When looking for a broker, continually check what its trading platform must supply. Does it supply free news feed? However about easy-to-use technical and charting tools? Will it gift you with all the knowledge you'll need to trade properly?
Execution: It is necessary that your broker fills you within the best possible worth for your orders.
Under traditional market conditions (e.g. no important news release, traditional liquidity or surprise events), there extremely is not any reason for your broker to not fill you in, or very near, the market value you see once you click the “buy” or “sell” button.
For example, assuming you've got a stable internet connection, if you click “buy” EUR/USD for 1.3000, you should get filled at that value or within micro-pips on it. The speed at that your orders get filled is extremely important, particularly if you’re a speculator.
A few pips difference in value will create that a lot of harder on you to win that trade.
Customer service: Brokers aren’t good, and so you want to choose a broker that you just might easily contact once issues arise.
The ability of brokers once dealing with the account or technical support problems is simply as important as their performance on executing trades. Brokers are also kind and useful during the account opening process, however, have terrible “after sales” support.
Is the company a broker or a dealer?
Understanding the character of a broker versus a deal is usually an important task, as there are presently many differing kinds of companies to work with for over-the-counter Forex trading (OTC FX).
Previous Next
Share This Post

Why we choose Forex Market?
Oct 06 , 2015

Forex, Commodity and Binary Trading Signals on 5th May 2016
May 04 , 2016

Forex Trading Terminologies
Oct 21 , 2015


Free Forex Trading Seminar In Salem
Aug 19 , 2018

Forex Weekly Technical Outlook on 7-11 August 2017
Aug 07 , 2017

Forex Weekly Technical Outlook on 24-28 JULY 2017
Jul 24 , 2017

watercolor paints

Read ICM Capital Review

  LeTechs Rating  
  Regulation   FCA
  Branches   UAE, China, Russia, Mauritius
  Bonus   $1000


watercolor paints

Read Fidelis Capital Markets Review

  LeTechs Rating  
  Regulation   FSA, St. Vincent and the Grenadines
  Branches   Except USA, Belgium and British Columbia
  Bonus   200% Bonus




Google Plus

Risk warning: Trading foreign exchange (Forex Trading) and contracts for differences (CFDs) on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment. Therefore, you should not invest or risk money that you cannot afford to lose. Please ensure you fully understand the risk involved before trading, and if necessary seek independent advice.

Copyright © 2015 LeTechs. All Rights Reserved.