Choosing Forex broker - no easy task. So, what should I look for when deciding whether to initiate cooperation with one or another financial company? A good Forex broker, first of all, must be reliable and offer good trading conditions and convenience. There are many companies and banks, which represent different combinations of these criteria. Serious investors are choosing major western brokerage houses, mainly for reasons of reliability.
A reliable broker is generally considered a broker under the following components of the definition of reliability:
long history of work;
License and accountability to regulators;
effective system of risk management within the company;
insurance to their responsibilities to clients;
protection of the contractual relationship;
legal transparency.
By itself, the licensing process cuts apparent scam. Finance company shall disclose to the state of their owners, to provide statutory documents, financial statements. In addition, regulators monitor financial performance, operational activities.
Unfortunately, the availability of licenses and controllability of regulatory agencies does not guarantee the safety of your money. However, this is a serious plus in choosing a broker in the market Forex.
In addition, the brokerage firm must still be fairly respectable. Hard to speculate whether the company's positive reputation, and if so, on what grounds this can be judged. Unfortunately, neither the presence of prestigious awards, or high places in the rankings are not indicative of good reputation. This is only a question of money. But the presence of a negative reputation (whether litigation or deceived clients), you can find out quite easily with the help of Internet sites and specialized forums.
Of course, working conditions are important in any business. Qualitative work conditions include: the exact quotes and competitive spreads, trading with a guaranteed execution of pending orders, advanced trading platform, wide tools, trading interest on the deposit customers.
An important point when choosing a broker is a wealth of tools that is available to trade the company's clients. It is very important to try their hand at different markets with different instruments and conditions.
Another important factor is the interest on the funds to client's trading account, as well as the ability to trade discrete lots. Well, generally accepted standards for the largest brokers are:
News around the clock support for customers in the terminal.
Daily analytical market research rates, stock indices and metals.
24-hour technical support.
The presence of a personal manager for major clients
Important component when choosing a Forex broker is to provide a trading platform with common standards for brokers in the Forex market:
availability of free demo accounts (ie, opportunities to practice on virtual money, test the trading strategy).
graphic support, the possibilities of technical analysis or export data to a technical analysis systems (Omega, etc.).
operational reliability and low requirements for the user's computer and the speed of your Internet connection.
I hope these tips will help you avoid common mistakes when choosing a broker in the market Forex.
A reliable broker is generally considered a broker under the following components of the definition of reliability:
long history of work;
License and accountability to regulators;
effective system of risk management within the company;
insurance to their responsibilities to clients;
protection of the contractual relationship;
legal transparency.
By itself, the licensing process cuts apparent scam. Finance company shall disclose to the state of their owners, to provide statutory documents, financial statements. In addition, regulators monitor financial performance, operational activities.
Unfortunately, the availability of licenses and controllability of regulatory agencies does not guarantee the safety of your money. However, this is a serious plus in choosing a broker in the market Forex.
In addition, the brokerage firm must still be fairly respectable. Hard to speculate whether the company's positive reputation, and if so, on what grounds this can be judged. Unfortunately, neither the presence of prestigious awards, or high places in the rankings are not indicative of good reputation. This is only a question of money. But the presence of a negative reputation (whether litigation or deceived clients), you can find out quite easily with the help of Internet sites and specialized forums.
Of course, working conditions are important in any business. Qualitative work conditions include: the exact quotes and competitive spreads, trading with a guaranteed execution of pending orders, advanced trading platform, wide tools, trading interest on the deposit customers.
An important point when choosing a broker is a wealth of tools that is available to trade the company's clients. It is very important to try their hand at different markets with different instruments and conditions.
Another important factor is the interest on the funds to client's trading account, as well as the ability to trade discrete lots. Well, generally accepted standards for the largest brokers are:
News around the clock support for customers in the terminal.
Daily analytical market research rates, stock indices and metals.
24-hour technical support.
The presence of a personal manager for major clients
Important component when choosing a Forex broker is to provide a trading platform with common standards for brokers in the Forex market:
availability of free demo accounts (ie, opportunities to practice on virtual money, test the trading strategy).
graphic support, the possibilities of technical analysis or export data to a technical analysis systems (Omega, etc.).
operational reliability and low requirements for the user's computer and the speed of your Internet connection.
I hope these tips will help you avoid common mistakes when choosing a broker in the market Forex.