Sometimes it is difficult to make a decision, a Forex broker to open a trading account, it is too. Most of them have different features, capabilities, weaknesses and interests, which is why I created a checklist to help you decide to use a forex broker adventure.
1. And 'set?
The first question you should ask yourself is: is the broker I use regulated? There should be no doubt about this first point. All regulated brokers must submit financial reports to the authorities and when they do not, the authorities have the right to fine them or terminate their membership. This enforces Forex brokers to keep transparent financial reporting.
Brokers must be regulated by their local regulatory authorities, for example, brokers based in the United States, they must be regulated by the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission), the Swiss based brokers will be regulated by the Institute of the FDF (Swiss Finance) and so on.
In addition, when the Forex broker is regulated investors to challenge any resolution, to increase investor protection.
Second Terms
This article refers to elements of the trading platform and trading conditions with the selected broker. Key factors are:
Spread - Obviously, the smaller the margin of the currency pairs are the conditions for investors and traders.
Running Platform - execution of operations refers to how quickly and consistently, is the execution of transactions. Some brokers guarantee fast and transparent executions in normal market conditions.
Fractional trading - Some brokers allow investors and traders to trade in installments instead of trading full lots "100,000 units" or "300,000 units", which allow you to trade "163,345 units" or "325,911 units". This is very useful for operations risk a certain percentage of your balance for each transaction.
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