Great Forex Trading Stuff...

Hi Traders

I'm writing today just to make sure that you do not miss out on these cool, free stuff...

If you reviewed above free trading stuff then let's to see What to look for while choosing a broker?

Online forex trading can be very lucrative if you can combine the right trading style with the right broker. In this article we’ll take a look at the most important points which must be considered before opening an account.

Regulation

Is the firm regulated by authorities like the CFTC, NFA or the FSA in the UK? If it is not, stay away from it at all costs. This is a black and white issue: never risk your funds by depositing them at an unregulated broker.

The Bid-ask spread

The bid-ask spread is what the broker is charging you, so make sure that the spread is suitable to your trading style, and general preferences. If you are a scalper, or a frequent trader, a high bid-ask spread will enrich the broker and get you depressed while struggling with the cost of the trades. Accommodating the spread is easier for long term traders, but we should still choose a broker with an optimal spread to ensure the best performance.

Dealing Desk

Brokers have dealing desks to respond to emergencies such as server failure, or connection problems on the side of the trader, but the dealing desk can also use manipulative techniques against clients such as the notorious stop running which was common in the early days of the forex brokerage business. In order to have a quiet sleep at night, you may seek a broker which doesn’t have a dealing desk which can interfere with your trading orders.

Deposits and Withdrawals

Ease of withdrawal is foremost in any traders mind. As clients we don’t want to deal with problems when we choose to withdraw the funds entrusted to the broker during trading. Unfortunately, withdrawal can be arduous and stressful at some firms, so it is a great idea to check forex broker reviews and visit forums in order to ask experienced trader about their experiences with the brokers.

Attitude to trading styles

Traders have different styles, but not all brokers are equally accommodative to such diversity. Some brokers have very restrictive policies towards scalpers, others do not accommodate news traders. In general, established brokers with a good technical staff are welcoming to all kinds of traders, but problems may be encountered with new and smaller firms. It is a good idea to discuss these points with the broker before opening an account.

Secondary Tools

Items such as news feed from a financial news provider like Reuters, or IFR can be very important for fundamental traders. Similarly, a trader who utilizes options market related data should ensure that the broker’s platform incorporates information on expiries and option sizes. Some traders prefer certain indicator combinations for trading, and they too should ensure that the broker’s software implements them before opening the account.

Forum

Does the broker have a forum where you can discuss your feelings with fellow traders? Not only does a forum allow you take share your experiences with others, but it also helps you get an idea on the professionalism of the firms’ staff by their responses and attitude to clients.

Conclusion

The top forex brokers in the world may not help you much if they do not allow your trading style, or do not offer the tools that you require. Make sure that you scrutinize the firm thoroughly before making a decision. It may take your while, but it is better than regretting your recklessness after being defrauded by a fake company...


have a good trading day
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