too many choices make you so confused,if you're a forex,how do you choose a broker?inexperienced new traders don't know how to start,and it's ok cause we'll help you with that
we've put it together very easy five steps to find which broker most fits your needs,
you might think that five steps is too little but we think it's enough for you to make your decision
the first step,you need to ask yourself main important questions when you review different brokers
you will review different brokers and check out their available features,
we have put a comparison guide by taking the most asked questions on the internet,and surveyed some of the most asked about brokers
with this guide,you can narrow the choices and finally talk with different brokers and demo trading on platforms,now here we go
step 1:
in the US,check to see if the broker you chose is a member of the national futures association(NFA) or commodity futures trading commission(CFTC)
in the united kingdom,check to see if the broker is a member of the financial service authority(FSA)
each country has its own regulating authority to regard the deposits,if the broker isn't a member of any recognized regulating firm,then u should think well before singing them
step 2:
each broker has different account offerings including leverages
you should check out how much leverage the broker will give you
the most recommended review is leverage the killer before deciding which leverage most fits you
step 3:
there are a great deal of currencies available for trading,but only few which are recommended,so trade with the greatest liquidity,the most recommended are dollar,yen,euro,frank,British pound,so check out which forex pair you're interested in
step 4:
compare the brokers and choose the one fits you most
step 5:
choose two brokers or more that fits your needs and satisfy them and open up demo accounts
trade in different market environments
learn different features of trading platforms
the last thing you wanna do is being afraid of asking questions,customer service would support you and would be glad to answer your questions
demo trading platforms and almost similar but slightly different at some stuff
they're different at speed of execution, slippage, and platform reliability
when you d have your strategy down,ready to move to a live account?,
see which broker will fit your trading needs and take the decision
Very nice and beautiful post...
ReplyDeleteFortunity