- History of Retail Forex Trading
- Forex Broker Types: Dealing Desk and No Dealing Desk
- Dealing Desk vs. No Dealing Desk Forex Brokers
- What is a Spread in Forex Trading?
- 6 Crucial Things to Consider When Choosing a Forex Broker
- Beware of Forex Bucket Shops
- How to Protect Yourself against Forex Broker Scams
- How to Open a Forex Trading Account
Three Types of Analysis
Types of Charts
6 Crucial Things to Consider When Choosing a Forex Broker
Forex market place houses ‘n’ number of brokers who self claim to be the best. It
becomes very difficult to choose a broker when you have so many options. Listed
below are the factors to be considered for choosing a forex broker –
Safety – Or security of your money while handing over it to a broker is a factor
you can’t ignore. Luckily, regulatory agencies ease your job of hiring a credible
broker for you as these agencies have only trustworthy brokers as their members.
Every country has its own regulatory agency and you should check if the broker is a
member of that agency or not.
Commissions – Well, despite many promises and claims, it is a globally
accepted fact that every broker charges fees for his services. Never consider a
broker just because he advertises his firm as commission-free; rather select one
who discloses all kinds of charges that will be levied on you for your transaction.
Transactions – While trading, a broker helps you in making money, but he does
not have any right to hold your amount without your consent. A good broker will
make your withdraws and deposits hassle free and smooth.
Platform – A trader’s FX business vastly depends upon the platform where he
trades. Every broker deals through a particular FX platform, and you should go for
the one who offers user-friendly, dynamic and resourceful platform.
Execution – A broker should always fill you at the prices which are best for your
orders. So the broker must be very quick in executing your order as soon as you
click on buy or sell.
Customer Support – Pick a broker who is attentive to your account related
problems which can be technical too and resolves them without delay.