3 Easy Steps to Find and Choose the Best Forex Broker

3 Easy Steps to Find and Choose the Best Forex Broker

A forex broker or a forex brokerage firm is an individual or institute (financial institute, bank Forex broker scam s, dealers) that serves retail traders orders (sell, buy orders etc.) and provide him with the market liquidity, Forex Brokers can also provide its costumers with such services like manage accounts, provide trading signals, forex education program.

It is very recommended for new forex traders to choose a trusted, reliable, effective broker, because this step is very impotent for newbies to avoid been scammed and cheated.

one of the most common problems faced by every new forex trader is how to choose the best forex broker that suits their trading needs, and what I’m going to share with you in this articles is How to find and choose the best forex broker in 3 easy steps.

When it comes to forex trading, every one knows it’s all about money, forex brokers make money when traders opens new trades and positions, when you open a new trade the broker will credit some pips (the last digit in the rate. e.g. for EUR/USD 1 point = 0.0001) from your balance, usually 3 pips spread (The difference between the bid and ask prices). there is two types of spread, fixed and variable, as a trader you should always look for a low spread broker, some times you can find a 0 spread brokers, or 0.5 pip spread broker, that sound good but don’t be fooled, before you open an account ask your broker if there are some commissions, and swap free accounts.

the second thing you should look for in your broker is regulation, be sure your broker is licensed and regulated by one of the largest Regulatory Organizations (NFA, FSA..) this is very important factor to be away of scam, there are a lot of non regulated forex broker looking to eat your money. the third and last step to choose the best forex broker is to choose a broker that offers many trading platforms and terminals, a good broker will provide you with an award-winning platform such as Meta Trader 4, a very popular, easy to use and user-friendly trading software, also there is a variety of platforms like Currenex, Trading Station II, web-based platform. the factor why most traders prefer metatrader is due to its acceptance of costumed indicators and expert advisors (EAs).

Moreover, a lot of forex brokers will encourage you to open an account with th

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