If you are trying to find the best broker for currency trading you will want to find the following:
- Personal account management
- Live training, one-on-one help
- Rates, Limits and Stop-Loss
- No software download
- Instant Deposit with Credit Card
- Margin trading with small start up (US$50 - US$200)
- Freeze the Rate you see and trade Forex online
- No hidden costs
- Security and Safety
- Competitive Spreads
- Live Real-Time streaming quotes
This is just an abbreviated list of the things that I look for in a trading platform with a good broker for currency trading. Let me briefly touch on each component.
Personal account management - Ask these questions: Do you have your own account service manager working closely with you? Are the dealing room services are offered to you by expert Forex dealers? Can you speak with them over the phone, over e-mail, or over a chat line.
Live training, one-on-one help - Your broker for currency trading should offer background information for the Forex market, a guided-tour, seminars, one-on-one training, chat, telephone support, forex assistance tools, etc ... If you are using their services then they should provide you with.
Rates, Limits and Stop-Loss - Your broker for currency trading should execute your set rates, including Stop-Loss and Take-Profit rates, by using the latest technologies. Remember, you should not lose more than your Stop-Loss amount at risk, as defined by you.
No software download - I don't know about you but I prefer not to have to use a program that I have to download. I want to start trading immediately. Without a software download required you may login to your account and trade anytime, from anywhere. I like that.
Instant deposit with credit card - It is always nice to have a broker with currency trading that which allows you to fund your account with your credit card, so you can start trading immediately, regardless of banking work days or
hours.
Margin trading with small start up (US$50 - US$200) - A lot of platforms advertise that they have "DEMO accounts" available. That may be helpful to a new trader but far more beneficial is a system that enables you to trade with small amounts as well as large. I would look for a platform that you can start using even with an amount as little as $50! No bank would ever offer you such an opportunity! When trading, you may deposit the sum that suits you, or fits the amount that you are willing to risk. Starting to trade with such small amounts is the best way to get acquainted with the Forex marketplace. Much better than operating "DEMO" accounts, where you are not really risking your own money. After getting familiar with such a system, you may increase your level and scope of activity, as you find fit.
Freeze the Rate you see and trade Forex online - Try to find broker for currency trading that gives you the possibility to Freeze the Buy or the Sell rate that you see for a few seconds, regardless of rate movements. That means that the rate you see and freeze is the rate you get (if you decide to make the deal). During those "FREEZE" seconds, the Forex market could change, however - you are guaranteed to use the rate you have frozen, in case you wish to materialize it into a deal. It will b hard to find this component but seek and you will find it out there.
No hidden costs - This is a big one for me. I do not like being duped. Just be straight forward with me, that is all I ask. Yet, this is very hard to find. I want transparency when it comes to spreads and commissions. A really good broker in currency trading will be transparent.
Security and Safety - Make sure that whatever happens: failure, disaster, etc. your transactions are intact, secure, and backed up.
Competitive Spreads - This speaks for itself, "How many "pips" do they offer as their spread?"
Live Real-Time streaming quotes This is another big one for me. I do not know why a broker/platform would not have this benefit but many do not.
I hope this information helps, I have tried to be as thorough as possible. When it comes to finding the best broker/platform, I have included a link below. it is the best that I have come across. Good luck.
Make a Killing Trading Forex! Forex Killer is the place to visit.
See what a Forex Trading Robot can do for you! Forex Robot is a must.
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