Wrest in choosing a forex broker is safe and nice easy-easily distress. As the development of the forex market, it has been ascertained amount of forex brokers is also more and more. This will be difficult for you to automatically select the best forex broker, much less trusted.
Selecting the right forex broker need a strategy and how the right forex trading anyway. How do I choose the best forex broker?
You as an investor would have to analyze the investment objective, the amount of funding that will be invested, this type of trading, trading activity period, the strategies that will be used, and also the consideration of risk tolerance.
Forex broker will help executing forex trade. Advantages of forex brokers is received via the difference between the bid and ask, also from commissions or fees on their services.
Things you can do before choosing the best Forex Broker
1. Do a number of research
Just read the reviews broker based on the star rating alone does not guarantee.
First, you must establish 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 broker to candidates, among other things:
- Currency pairs (asangan currency) what would you trade?
- How the matching spreads to you (fixed, changed, how many pips)?
- Do you want to pay commissions for forex trading?
- Account type – such as what you would use for minimal investment (the size of the accounts)?
- L-everage – how much do you need?
- The indicator Tool – what you need to run your trading?
- Trading Platform what is needed?
- Are You A Scalper?
- Are you players Hedging?
- Do you need a Trailing Stop?
- Do you need execution features "one-click trading" or EA robots?
- Would you like the features of mobile trading?
- Would you care to choose ECN/STP/broker Dealing Desk?
- Do you care about the reputation of the broker?
- In what ways You send/receive funds transfer (wire transfer, Paypal, credit card. .. etc.)?
- How much are you prepared to pay transfer fee received/paid funds (deposit, withdraw)?
- How much readiness you accept the risk of losing funds in case of loss?
- Whether the provided features you can use with optimal or not?
- Whether the provided account information? This allows you to track and manage the trading transactions efficiently.
- Whether provided charting tools (price chart) that was easy to understand?
- And whether it provided any other information required in your trading?
- Allow all kinds of trading techniques, including scalping, martingale, etc.;
- Allow hedging or locking;
- Do not allow 3rd party transfer 3, because of the safety factor and the legality of the transfer (money laundry must with direct Bank Transfer addressed to brokerage firms are concerned, there can be no legal media such as Liberty Reserve (LR), Voucher and deposit transfers by individuals or different name);
- Leverage is provided starting from 1:100. Ideally is 1:200 1:400 or max. Don't like 1:1000 because it will blow up your trading account.
- know the old foundation of the brokerage firm. The minimum should be above 5 years.