Brokerage companies are much that is simply impossible to list them all, especially to do a detailed review. But you are able to create your list of Forex brokers, it is not so difficult, just follow the criteria below, before you choose a broker.
This is one of the most important criteria. As a rule, all the major brokers have a good reputation. By reputation, first of all, it refers to the company's image, without which it is impossible to be a leader in the financial services market and compete with other companies. Often popular brokers, who have a good reputation, provide the worst trading conditions than the young company, which opened a year ago and to attract their customers willing to provide services at more attractive prices. It should be understood that for the advertised brand has to pay, and when working with young companies, there is always the risk of running into a scam.
2. THE PRESENCE OF ADDITIONAL FUNCTIONS:
To make trading even more convenient and comfortable, reputable brokers offer additional features. For example, beginners will be useful for a free demo account with a renewable deposit, with which a novice trader can work out at the opening of the transactions, to develop their trading strategy or test an expert. In addition, for beginners brokers often provide training, including free. Availability cent accounts will advance to the real trading with minimum risk that the market will feel better. More experienced traders will be interested in analytics and forecasts.
3. TRADING CONDITIONS:
Most Forex brokers offer the most favorable trading conditions. Biggest brokers collaborate with a lot of liquidity providers, so that can offer almost zero spreads and instant execution of orders, which is very beneficial for scalpers. Also, high degree of leverage allows you to open the transaction without having to his credit a large deposit. Instant order execution ensures that your transaction will be opened at a good price without repeated requests when a new price (requotes), and deferred or protective order is triggered at a set price you without slippage in the event of increased volatility.
4. BONUSES AND PROMOTIONS:
The existence of bonuses should not be a major factor when choosing a broker, but for beginners is an additional incentive investment. It should be understood that the presence of large bonuses (more than 100% of the amount of replenishment) is probably a sign that in front of you a crook. So, many pyramid schemes, knowing that a flood of new customers begins to decline, trigger bonus shares to raise new funds, then there is their closing. While most brokers who are termed to be the best abandon the bonus system, as traders try to play them, in the end it leads to an increase in trading volumes and a drain of the deposit. All bonuses are arranged in such a manner that first spent their own funds, as well as the amount of your money close to zero; there is a cancellation of the bonus.
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.