Select the right Broker company
As now a days so many scam happen in stock market but according to me if you go through the procedure and find some good broker then you will definitely got good profit.
I'd also recommend reviewing the Forex broker's trading assets, tools and instruments and the the payment to the broker.
Most importantly, check the broker's support service; unfortunately for many of us traders, we don't check it until we need it...
Thanks Fxugprofit to share some useful points specially Regulation and Slippage. In near future, I will search forex broker. I hope, it will help me to choose the best broker for trading.
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Hi Guys!
I think one of the most important thing in the FOREX trading the broker company where we will be trade.
If i would be begginer trader right now, i would check the broker company by the following aspects
Regulation: If the Broker company is not regulated by any financial organization, if something bad happen, you can not appeal and get help from nobody. If the Brokercompany it is regulated, your equity it is in much safer place. Better to select broker company wich is not placed in OFFSHORE country.
Spreads, Slippage: You have to try the platform, where you will be trade. You can check the spreads how bigs are. The big spreads are not good for traders. Usually the big spreads for example on EURUSD over 1,5 pip. IF the spreads are fixed, that is not good at all, cause in the market the prices are changing second by second and that is probably a market maker which is not transfer your order to the market.. Also check the slippage, when you open a position on demo account check how long take to execute the trade and check the price was it the wished price where you wanted to open? If too slow the execution , it can be sign it is a bad broker firm and if the price can not execute mostly also bad sign.
ECN vs Market maker If you would like to open safe forex account, you have to know the honest brokerages, does not allow to open account with small equity, for example 100 USD 500 USD because there is a minimum lot size, what they can forward to the market.The execution can be ECN , which is transfer your orders to the market, if you win you win by other forex traders on the market, If it is Market maker you will” fight” against your broker, because your win will be from the broker company, but if you lose you will give the money for the Broker company. For a market maker better, if you lose, than you win, and they can generate interesting errors during your trad
The best if you take your decision by these aspects. I do not offer any brokerage because it is not my business. If you are begginner trader, do not trade with real money, unless you learn enough to trade the markets safely. During your your study you can invest through our professional trading team, and you can learn deeply the forex trading.
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Attila Batics-Professional Forex trader