In this article we would be reviewing the best forex companies in the world based on trading conditions and customer satisfaction & forex brokers ranking.
SECURITY AS AN IMPORTANT FACTOR IN FOREX TRADING
The first and foremost characteristic that a good broker must have is a high level of security. All things considered, you're not going to hand thousands of dollars to a man who simply asserts he's genuine, isn't that so? Luckily, checking the validity of a forex broker isn't hard. There are regulatory agencies all over the world that differentiate the trustworthy from the fraudulent ones.
BELOW IS A LIST OF COUNTRIES WITH THEIR CORRESPONDING REGULATORY BODIES:
1. United States: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
2. United Kingdom: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
3. Australia: Australian Securities and Investment Commission (ASIC)
4. Switzerland: Swiss Federal Banking Commission (SFBC)
5. Germany: BundesanstaltfürFinanzdienstleistungsaufsicht (BAFIN)
6. France: Autorité des Marchés Financiers (AMF)
7. Canada: Autorité des Marchés Financiers (AMF)
Before THINKING of putting your money in a broker, ensure that the representative is an individual from the administrative bodies said above.
Regardless of what sort of forex broker you are, similar to it or not, you will dependably be liable to exchange costs. The best brokers each and every time they enter an exchange, pay for either the spread or a commission so it is just normal to search for the most moderate and least expensive rates.
STORE AND WITHDRAWAL
Best FX brokers will enable you to store and pull back out your cash whenever and wherever hassle free. Brokers truly have no intention whatsoever, to make it difficult for you to pull out or withdraw your benefits in light of the fact that the main reason they hold your cash is to encourage trading.
The best traders regularly utilize the best trading platform; this implies the platform must be easy to use and stable. When searching for a broker, dependably check what its trading platform brings to the table. Does it offer free news feeds? What about simple to-utilize specialized and diagramming instruments? Does it give all of you the data you should trade appropriately?
The best broker fills you at the best possible price for your orders. In your typical everyday market situation the best broker should fill you in at the market price you see when you click the “buy” or “sell” button.For example, assuming you have a stable internet connection, if you click “buy” EUR/USD for 1.3000, you should get filled at that price or within micro-pips of it. The speed at which your orders get filled is very important, especially if you’re a scalper.A few pips difference in price can make that much harder on you to win that trade.
The best brokers know the importance of customer service and take it very seriously the competence of brokers when dealing with account or technical support issues is just as important as their performance on executing trades.Brokers may be kind and helpful during the account opening process, but have terrible “after sales” support
Regardless of what sort of forex broker you are, similar to it or not, you will dependably be liable to exchange costs. Each and every time you enter an exchange, you should pay for either the spread or a commission so it is just normal to search for the most moderate and least expensive rates.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.