CHOOSING A FOREX BROKER

CHOOSING A FOREX BROKER:

The Brokers we Trust:

1) Hotforex europe.

2) Etoro

A broker is an intermediary with whom you have to register to be able to operate in the currency market. On the internet they are found in dozens, but what are the criteria to be considered in choosing the online brokers?

The foreign exchange is a vast market with ample opportunities for gains. For this reason, it is very important to be careful with whom you have to do, as sometimes there may be a serious risk of losing your income by putting them in the hands of disreputable companies.

And ‘therefore it is essential to rely on a broker who can guarantee reliability, safety, and quality

 

Safety

Since the Forex is an unregulated market, it is essential to make sure that the broker is legitimate. Always be wary of those who does not provide clear information on themselves, nor publish clear details on their economic stability.

Also, you should not trust those who proclaim sure gains or life annuities through patterns because many times they can hide real scams. Forex is a market like any other, where you can gain and lose, depending on the operations performed. No sure way to “win in forex”, but only revenue forecasts according to your own strategies.

One method to find that the broker is regulated is to go back to the company that controls it and make sure it is well known and solid. The brokers who are part of large investment banks or groups, or are an established company, are certainly the first to be preferred.

Another tip is to check that the operator has been registered with the Commodity Futures Trading Commission (CFTC) and is part of the US National Futures Association (NFA), whose website is http: //www.nfa.futures. org /. The most important forex brokers overseas are usually contained in these two associations, which protect private traders against fraud and dishonest practices.

Another useful aspect to consider is related to the processing of personal data and on the recording mode

. Any decent broker has to have the necessary measures in place to preserve the integrity of the data transmitted via the internet, using SSL security protocols and ensuring that customer transactions remain secure.

 

Quality and Services

Always ensure that the broker with whom you want to open an account have the seven major international currencies: EUR, USD, GBP, JPY, CHF, CAD, AUD.

A quality broker offers live odds and allows you to open and close positions quickly, without wasting time that could result in damage to your savings. Many operators offer integrated services to their platforms, such as technical analysis articles, graphics, and tools.

As for the part relating to “Account,” a good broker provides the ability to open demo accounts, where you can test the software at no risk. And accounts of different sizes (standard, mini, micro), where you can deposit variable amounts of money that are usually ranging between 250 and 1000 euro. Some operators provide an account where you can deposit even smaller amounts.

As regards the operating costs of the brokers, 3 or 4 pips spread between the bid and ask prices of currencies are to be considered acceptable

 

Service & Support

The forex market is a continuous series of operations throughout the span of 24 hours, so it is extremely recommended to choose a broker whose service is present at any time of day or night. Not so because you will need to exchange currencies at 4 am, but because the company could be located abroad and the time difference could be several hours.

The quality of support varies from broker to broker and variety of contact options, like the ability to contact support via email, phone or live chat, is something that should be taken into serious consideration

 

The software

The “heart” of a broker is the software with which it presents to the customer. Each platform can vary depending on whether it’s a web-based or downloaded version. You don’t need installing the web-based software on your computer and is accessible from any location with an internet connection.

For those who have a computer with an operating system other than Windows (Mac or Linux), the web version is the only possible alternative.

The more ‘platform known for trading, available in both web-based version and a download version is MetaTrader.

 

 

2 Comments

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  • Hello ,

    I saw your tweets and thought I will check your website. Have to say it looks very good!
    I’m also interested in this topic and have recently started my journey as young entrepreneur.

    I’m also looking for the ways on how to promote my website. I have tried AdSense and Facebok Ads, however it is getting very expensive.
    Can you recommend something what works best for you?

    Would appreciate, if you can have a quick look at my website and give me an advice what I should improve: http://janzac.com/
    (Recently I have added a new page about FutureNet and the way how users can make money on this social networking portal.)

    I have subscribed to your newsletter. 🙂

    Hope to hear from you soon.

    P.S.
    Maybe I will add link to your website on my website and you will add link to my website on your website? It will improve SEO of our websites, right? What do you think?

    Regards
    Jan Zac

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