Choosing The Best Forex Broker is not easy choice. As the development of the forex market, one would expect that the number of forex brokers also increased. This automatically makes it difficult to choose the best forex broker, much less reliable.
Options strategies and forex broker Forex market right decision in the right way anyway. How to choose the best forex broker?
Your goal as an investor should analyze the investment, the amount of funds to be invested, the type of trade, commercial activity period, a strategy to use, and consideration of risk tolerance.
Forex broker is financial company who will help execute forex trades trough online metatrader program. Profit earned through forex broker is the difference between the bid and ask, also of commissions or fees on their services.
The things you can do before choosing The Best Forex Broker, here some Tips
1 . Do some research
Just read broker reviews by star rating alone is not guarantee.
First, you must define the criteria and the things that need to be expected from a broker, and what you want out of this business. Then do your own research.
To support your research, you can make a list of questions to ask your prospective forex brokers, among others :
- What Currency pairs would you trade on?
- What spreads is suitable for you ( fixed, changed, how many pips ) ?
- Are you willing to pay a commission for forex trading ?
- Account Type what you will use for a minimal investment ( account size ) ?
- How much leverage you need ?
- Indicators Tool what you need to run trading?
- What Trading platform is needed ?
- Are you scalper ?
- Are you a player Hedging ?
- Do you need a Trailing Stop ?
- Do you need execution features a "one - click- trading" or EA robots ?
- Do you want the features of mobile trading?
- Would you care to choose brokers ECN / STP / Dealing Desk ?
- Are you concerned about the reputation of the forex broker ?
- In what ways do you send / receive funds transfers ( wire transfers, Paypal, creditcard.. etc)?
- How much are you prepared to pay a transfer fee receive / pay funds ( deposit , withdraw) ?
- How many of your readiness to accept the risk of losing funds in the event of a loss ?
2. Ensure the registered forex brokers legallity
You are not going to hand over large sums of money to people who just admitted that he is a legitimate / registered legally.
Make sure you examine and analyze the forex broker on the relevant legal bodies. In Indonesia, you can check it out to the Commodity Futures Trading Regulatory Agency (BAPPEBTI), Jakarta Futures Exchange (BBJ), and Indonesian Derivatives Clearing House (KBI).
3. Facilitate the attraction of funds deposited and withdrawal
There is no reason to complicate your forex broker to withdraw the funds. Good broker will work to make as easy as possible you can do withdrawing funds or depositing.
4. Platform analysis
In online forex trading, trading platforms becomes an important factor in finding the best forex broker, because the majority of trading activity conducted through the trading platform provided by a forex broker.
Some things to consider when trying to forex trading platform of the broker is:
- Have the features provided with the optimum you can use or not?
- Is provided account information? It lets you track and manage trading operations efficiently.
- Is charting tools available (price chart) is easy to understand?
- And is there any supplier other information needed in your trading?
Forex brokers have a duty to fulfill client orders at the best price. ASAP. At the moment the market is in a normal state (normal liquidity, there is no important news broadcast, or big events), there is no excuse for not meeting forex broker for client orders on, or at least approach, which looks at the market price when the client presses the button 'buy 'or' sell 'on their computer.
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