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Tips for choosing a Forex Broker

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Tips for Choosing a Forex Broker

The foreign exchange market contributes more than $ 4 trillion in average daily exchange rates, making it the largest financial market in the world
Because there is no central market for the forex market, traders must choose a forex broker to help them carry out their trading activitie
There are a number of large and growing forex broker and choose the right ones to receive acceptable screening through many magazine and internet advertisement
In this article.
we will look at five considerations when choosing a forex broker in the competitive forex market today.

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#1 - March 15, 2019, 09:27:36 AM
« Last Edit: March 15, 2019, 09:29:09 AM by Alfrians »

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1.. Regulatory Compliance
On the U.S., a leading forex broker will become a member of the National Futures Association (NFA) and will be registered with the U. S. Commodity Futures Trading Commission (CFTC) as a Dealer Futures Commission and Retail Foreign Exchange Dealer. NFA is an independent industry organization for the futures industry in the United States. It develops regulations, programs and services to protect the integrity of markets, traders and investors, and to help members fulfill regulatory responsibilities. The CFTC is an independent government institution that regulates the futures market and commodity choices in the United States. The CFTC's mission is to "protect market users and the public from fraud, manipulation and abusive practices relating to the sale of commodities and futures and financial options, and to encourage futures and open, competitive and financial markets."

Striking or professional websites do not guarantee that the broker is a member of the NFA or CFTC regulations. A broker who is a member of the National Futures Association and is subject to CFTC regulations will state this and the NFA member number on the site, usually in the "about us" section and on each web page. Every country outside the United States has its own supervisory body. Due to potential concerns regarding deposit security and broker integrity, accounts can only be opened with companies that are properly regulated
#2 - March 15, 2019, 12:07:14 PM

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Account Details
Every forex broker has a different account offer, including:

Leverage and Margin: Forex participants have access to various amounts of leverage depending on the broker, such as 50: 1 or 200: 1. Leverage is a loan given to margin account holders by their broker. For example, using 50: 1 leverage, a trader with a $ 1,000 account size can hold a position worth $ 50,000. Leverage works well by traders with a winning position because the potential for profits greatly increases. Leverage can, however, quickly destroy a trader's account because potential losses will also increase. Leverage must be used carefully. (To learn more, see Forex Leverage: Double-Edged Sword and Add Leverage to Your Forex Trading.)

Commissions and Spreads: A broker makes money through commissions and spreads. Brokers who use commissions may charge a certain percentage of the spread, the difference between the bid and ask price of the forex pair. However, many brokers advertise that they do not charge commissions, and instead make money with wider spreads. For example, spreads can be fixed three-pip spreads (pip is the minimum unit of price change in forex), or the spread can vary depending on market volatility. EUR / USD quote from 1.3943 - 1.3946 has a three pip spread. That means that once market participants buy at 1.3946, the position has lost three pips of value because it can only be sold immediately for 1.3943. The wider the spread, the more difficult it is to generate profits. Popular trading pairs, such as EUR / USD and GBP / USD will usually have tighter spreads than the pair traded thinner.

Initial Deposit: Most forex accounts can be funded with a very small initial deposit, even as low as $ 50. With leverage, of course, purchasing power is far greater than the minimum deposit, which is one reason forex trading is very attractive to traders and investors new. Many brokers offer standard, mini and micro accounts with various initial deposit requirements.

Ease of Deposits and Withdrawals: Each forex broker has a specific withdrawal and account funding policy. Brokers can allow account holders to fund accounts online with a credit card, through ACH payments or via PayPal, or by wire transfer, bank checks or business or personal checks. Withdrawals can usually be done by check or by wire transfer. Brokers can charge for good services.
#3 - March 15, 2019, 12:10:35 PM

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3. Offered Currency Pairs

Although there are many currencies available for trading, only a few get the most attention, and therefore, trade with the largest liquidity. "The main thing" is U.S. dollars. / Japanese yen (USD / JPY), Euro / U.S. Dollar (EUR / USD), U.S. dollar / Swiss franc (USD / CHF) and British / U.S. pound. Dollar (GBP / USD). A broker may offer a large selection of forex pairs, but the most important is they offer a partner (s) where traders or investors are interested. (For more information about the main pairs, see our tutorial on Forex Currency.)
#4 - March 15, 2019, 06:31:27 PM

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4. Customer Service

Forex trading takes place 24 hours a day, so broker customer support must be available at any time. Another consideration is the ease with which a person can talk to a living person, rather than an auto attendant who often takes time and is often frustrated. When considering brokers, a speed dial can give you an idea of the type of customer service they provide, the waiting time and the ability of representatives to answer questions about spreads, leverage, regulations, and company details appropriately. These details include how long they have become forex brokers and the size of their trading volume (larger brokers generally have better access to prices and execution).
#5 - March 15, 2019, 06:33:13 PM

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5. Trading Platform
Trading platform is an investor portal to the market. Thus, traders must ensure that any platform and software is easy to use, in accordance with the visuals, has a variety of technical and / or fundamental analysis tools, and that trade can enter and exit easily. This last point is very important: A well-designed trading platform will have a clear 'buy' and 'sell' button, and some even have a 'panic' button that closes all open positions. Poorly designed interfaces, on the other hand, can cause expensive order entry errors, such as accidentally adding positions rather than closing them, or running slowly when you intend to last long. (For more information, see What Should I Look for When Choosing a Forex Trading Platform?)

Consideration
#6 - March 15, 2019, 06:34:48 PM

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wow, the info is very useful, this can be a consideration for new traders like me, so as not to be wrong in placing funds into Forex Brokers.
#7 - March 16, 2019, 11:55:49 AM

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Tips for Choosing a Forex Broker

The foreign exchange market contributes more than $ 4 trillion in average daily exchange rates, making it the largest financial market in the world
Because there is no central market for the forex market, traders must choose a forex broker to help them carry out their trading activitie
There are a number of large and growing forex broker and choose the right ones to receive acceptable screening through many magazine and internet advertisement
In this article.
we will look at five considerations when choosing a forex broker in the competitive forex market today.
how we know if the broker is regulated or not ? where we get that info sir
#8 - March 21, 2019, 04:10:22 PM

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if I myself, before choosing a broker, see what regulations overshadow the broker, because regulation is very important for traders to choose brokers, so I myself choose a broker through testimonials that tell the client that the broker is good or not.
#9 - March 28, 2019, 01:20:02 AM

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very good education, I can consider choosing a broker for the future.
#10 - March 29, 2019, 02:39:50 AM

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if I myself, before choosing a broker, see what regulations overshadow the broker, because regulation is very important for traders to choose brokers, so I myself choose a broker through testimonials that tell the client that the broker is good or not.
same with me, and then their offer, like what they offer to us, like their line up product account and is that profit for us or even that might become our nighmare, choose broker carefully
#11 - April 04, 2019, 05:05:06 PM

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same with me, and then their offer, like what they offer to us, like their line up product account and is that profit for us or even that might become our nighmare, choose broker carefully
my personal opinion, it's simple. find a broker that is truly mutually beneficial, the service is also good and also has proven its legality, that's the most important thing.
not assessing how many brokers give bonuses, because sometimes many bonuses are harmful.
#12 - April 07, 2019, 12:00:05 PM

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Tips for Choosing a Forex Broker

The foreign exchange market contributes more than $ 4 trillion in average daily exchange rates, making it the largest financial market in the world
Because there is no central market for the forex market, traders must choose a forex broker to help them carry out their trading activitie
There are a number of large and growing forex broker and choose the right ones to receive acceptable screening through many magazine and internet advertisement
In this article.
we will look at five considerations when choosing a forex broker in the competitive forex market today.
actually choosing a broker in my personal opinion is not grandiose.
because there is no broker that is very perfect.
so choose a broker who has the legality that is not approved and according to our needs.
#13 - April 26, 2019, 02:55:29 PM

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actually choosing a broker in my personal opinion is not grandiose.
because there is no broker that is very perfect.
so choose a broker who has the legality that is not approved and according to our needs.
good, legal and legal entity.
but I also like brokers with low spreads and fast depo / wd.
#14 - May 07, 2019, 05:55:41 AM

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Tips for Choosing a Forex Broker

The foreign exchange market contributes more than $ 4 trillion in average daily exchange rates, making it the largest financial market in the world
Because there is no central market for the forex market, traders must choose a forex broker to help them carry out their trading activitie
There are a number of large and growing forex broker and choose the right ones to receive acceptable screening through many magazine and internet advertisement
In this article.
we will look at five considerations when choosing a forex broker in the competitive forex market today.
for the selection of brokers do not really bother. look for a broker according to your needs, and also try to always look for the background of the broker
#15 - May 09, 2019, 03:50:37 AM

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