All the forex companies work under the same condition and policy of providing services in order to get paid. They serve as outlets where you and your client can meet and transact business. There are, however, several things these forex companies may want you to know even before you think of investing your cash into the business. Most often than not, these things are listed in the terms and conditions of service while others may choose to be mute about them. In this article, we shall be looking at those things forex companies want you to know but may not necessarily say.
LIST OF THINGS FOREX COMPANIES WANT THEIR CLIENTS TO KNOW
1. TYPES OF ACCOUNTS
Your forex company wants you to have a general idea about the types of account they have and the account range and sizes. This is because these accounts come with a wide range of differences and guarantees to engage in certain businesses in the forex market. They also want you to know the differences and similarities that exist between these account types and the possible ways you can register for each account type.
2. YOUR CATEGORY
The company will want you to know which category you will belong to before registering with them. Are you registering as a market maker or a true broker? The forex company will like you to identify which category of customers you fall into.
3. CAPITAL PROTECTION
The company will like you to have a general knowledge of how well your capital can be protected while in the market. Although they provide you with a platform to do business, they are not responsible for what you do with your money and hence, the security of your funds is largely your own responsibilities.
4. FINANCIAL REGULATIONS
Most of the companies will want the client to have knowledge of financial regulations such as the acquisition of the needed licenses before starting operation. The company will want you to know if there are restrictions on the amount of money you can invest in the business, or if there are any laws prohibiting the trade in your region.
5. THE HELP AND SUPPORT AVAILABLE TO YOU
The company wants you to know your right as a customer and to exercise them when the time comes. It is the duty of the company to educate you on their policies but they are under no obligation to remind you about them. As a customer, each forex company will want you to have knowledge of all the help you can get and how you can possibly access them when in need.
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.