6 common ways of choosing a Forex Broker

The Forex market has thousands of different brokerage companies that provide their services to everyone who wants to do business in this area. Proceeding from this, it is very important to choose the reliable broker. On the Internet, there are many resources that provide necessary information about brokers. Among these resources can be identified Broker-ABC. The main function of this site is monitoring and constant updating of information about broker companies, thanks to which the most current information is always available. In addition, the site has a forum where you can discussion your questions with other traders.

In this article, we consider the six most important ways that should be considered when choosing a broker.

  1. Regulation

Regulation of the broker is one of the most important aspects of its reliability. There are a large number of regulators, for example, CySec, Finra, CFTC, ASIC, FSA and many others. Financial regulators are obliged to monitor the activities of brokers and they are the guarantor of the reliability and transparency of all trading operations of brokerage companies. When choosing a broker in the first place, it is worth paying attention on the availability of broker’s regulation. If the broker is not regulated by any financial organization, then most likely, it is not worth to cooperate with it.

  1. Website

The face of the company is a website. That’s why it should be intuitive, easy to use and to contain all the necessary information for a potential client. You should pay attention on the number of available languages (a good broker has at least ten of them), the availability of up-to-date contact information and information about the use of the resource and financial risks.

  1. Customer Support

Customer service is no less important factor when choosing a broker. Before you begin to cooperate with the broker, be sure to check how his support service works. You can do it by phone, via an email or online chat on the broker’s website. If you do not get a professional service or a representative of the support service will not be able to answer all your questions, it is worth to consider whether it is worth to open an account with this company.

  1. Trading Platform

For trading in Forex, there are large number of trading platforms, each of them has its own set of pros and cons. But the most popular platforms are MetaTrader 4 and MetaTrader5. These terminals have the greatest number of necessary functions for performing trading operations and can be used as a web platform, desktop program or mobile application. But, not all brokers use these trading platforms. If the broker whom you choose supports MetaTrader4 or MetaTrader5, then you should take a closer look at this broker.

  1. Types of accounts

Before you start cooperation with the broker, make sure that a broker has trading accounts that suit you. To do this, you need to clearly understand how many funds you are willing to invest and what conditions are important for you. Trading accounts are different, with different trading conditions, such as spread, leverage, bonuses, learning program and many others. Different types of accounts often have a different minimum deposit, also pay attention on it. In addition, the availability of a demo account is a good indicator.

  1. Reviews

After checking everything and you are ready to start working with the broker, be sure to read as many reviews about it as possible. Reading reviews, ratings of brokers (for example http://broker-abc.com/top-100-fx-rating/) and comments of other users can very much help to make the right choice. In addition, you can always ask a question in the broker’s discussion and get even more useful information.
Following these simple but effective rules, you will be able to select a broker quickly that will fully meet your requirements and work with which will bring you additional income in the future.

*** SPECIAL ALERT — July 25, 2020 — TWO of this Year’s Motley Fool Stock Picks Have Already Tripled and Two have Doubled! ****

We have been tracking ALL of the Motley Fool stock picks since January 2016. That’s 4+ years, 54 months and 108 stock picks. As of Friday, July 24th 2 of their 12 2020 stocks picks have already tripled (TSLA, SHOP). In addition, 4 of their 2019, 8 of their 2018, 7 of their 2016 and 10 of their 2016 picks have also doubled. Best of all, over these 54 months, the average stock pick is up 111%. That beats the SP500 by an average of 87%. And that’s even accounting for all of this COVID mess that has wreaked havoc on some stocks but presented opportunity for other stocks. THAT is how the Fool does so well!

  • Shopify (SHOP) – April 2, 2020 pick and it is already up 163%
  • Zoom Video (ZM) – March 19, 2020 pick and it is already up 107%
  • DexCom (DXCM) picked Feb 20, 2020 right before the market crashed and it is still up 26%
  • Tesla (TSLA) picked January 2, 2020 before the crash and it is up 123% compared to the SP500 -7% so it is ahead of the market by 130%
  • HubSpot (HUBS) picked December 5, 2019 and it is up 46%
  • Netflix (NFLX) picked November 21, 2019 and it is up 42%
  • Trade Desk (TTD) picked November 11, 2019 and up 111%
  • Zoom Video originally picked Oct 3 and it is up 234%
  • SolarEdge (SEDG) picked September 19, 2019 and it is up 44%

Now, no one can guarantee that their next picks will be as strong, but our 4.5 years of experience has been super-profitable. They also claim that since inception, their average pick is up 424% and now we believe them. You sure don’t want to risk missing out. Many analysts are saying that we have passed the bottom of this COVID crisis and stocks will recover quickly. So make sure you have the best stocks in your portfolio.

Normally the Fool service is priced at $199 per year but they are currently offering it for just $99/year if you click this link

CLICK HERE to get The Motley Fool’s Stock Picks for just $99 per Year! 




GET UP TO $1,000 IN FREE STOCK

WHEN YOU OPEN A ROBINHOOD BROKERAGE ACCOUNT

Robinhood was the first brokerage site to NOT charge commissions when they opened in 2013. They just past 10,000,000 accounts and to celebrate they are offering up to $1,000 in free stock when you open a new account.

Here’s the details: You must click on a special promo link to open your new Robinhood account. Then when you fund your account with at least $10, you will receive one stock valued between $5 and $500. Then, you will get a link to share with your friends. Every time one of your friends opens an account, you will receive another free stock valued between $5 and $500. Click here to learn more about this Special Robinhood offer.

Claim your free stock NOW

(before it’s too late)

Leave a Reply

Your email address will not be published. Required fields are marked *