How to Choose a Forex Broker
You already know what is forex and forex trading and can not wait to try the forex market.It is important to choose a forex broker, that will work in your interest. Мost new traders do not have and idea where to start. The best way is forex broker be recommended you by a friend who was traded by this forex broker. If you do not have a friend who is an active forex trader has several steps which must follow when choose a forex broker.
1. Is registered Forex broker in some regulatory authorities such as FCM or NFA or other. If a forex broker is not registered with any of these or other recognized regulatory authorities, consider whether to sign with them. I do not advise to choose a forex broker who does not regulated.
2. Is Forex broker Dealing Desk or Non-Dealing Desk broker. Does the forex broker offer fixed or non-fixed spreads, how big spread. How fast are orders. How are performed manually or automatically.Charged a forex broker commission or it is fixed in the spread.
3. With what leverage works broker. Under what conditions using margin call. Forex brokers charge you interest. How much slippage can be expected in normal and fast moving markets.Leverage is one of the most important parameters when choose a forex broker.
4. What is the minimum balance required to open a forex account with a forex trader.What is the minimum amount that can be marketed. Can customers change the default size which is traded on the forex market. Do customers interest free funds in your Forex account.
5. What trading platform forex trader uses, does forex trading platform for mobile phones, how many different types of currency pairs available for tradе, allowing you clients to use automat systems for forex trading offers you services such as charts, news blogs and comments market.
6. Try the demo platform forex broker demo platforms offer conditions that are approaching nearly 100% to the real Forex trade. If you satisfied terms of demo trading open a real account with forex broker.
Many brokers offer great welcome bonuses when you open a real account but not the bonus guide you how to choose a forex broker. On the right choice of forex broker depends on your future success as a forex trader.
When choose a forex broker you can look at the review of those recommended by us Forex Brokers.
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