The Characteristics of a Good Forex Broker, What Is It?
Well, this is the right time to find a forex broker, in the form of a firm or company that gives real traders towards a trading platform. From there, traders can trade foreign exchange (valve). The difference in selling from the ask and supply prices (forex spread) becomes a source of profit for a broker.
Why do you need their help? In fact, the major players in this foreign currency trade come from central banks around the world. The world's major currency domains (US, Eurо, Pound, and Yen) and the central banks of certain countries are fulfilling this currency transaction.
It's impossible for small individual traders to enter into the middle of the 'rakаѕа' аѕаr fоrеx, usually transacting with them. Keep in mind, to be able to make transactions with these banks there is a minimum transaction number that must be filled. One trader's request is not enough to reach the minimum limit.
Therefore, there must be a link between your individual traders and you in order to be able to trade with other market players. Later, it is this liaison who will be in charge of continuing requests from several traders to bigger brokers or reeds. And so on until the return is denied in the forex market.
Well, here we will discuss how to choose a good and trusted forex broker.
Rерutа is important
The very first step you should take in choosing a broker or forex broker is to find out the reputation of the company. This is important because you don't want to be a victim of fraud, right.
Typically, this service allows multiple clients to test existing services with a demo account. This method also needs to be a place for you to practice or do simulations before jumping into the real sky. Is it ukuр one platform? Not too. The more you test multiple platforms, the wiser you will be to decide which business to use.
In Indonesian legislation, the term commodity number broker (PBK) is used to refer to this brokerage. One way to find out which business route you are aiming for is to find out if the PBK is legal or not in Indonesia. This is demonstrated by bagging the permit of the Commodity Futures Trading Supervisory Agency (Bарреbtі), which also serves as a supervisor and regulator on the fоrеx form.
The identity that is clearly listed
A good reputation must also be supported by the broker, obviously. This includes the company's track record, office address, and ease of contacting related contacts (email, telephone, mail mail). If you have trouble finding out the address of the office, or maybe the address is just a PO BOX.
Customer service quality
The uniqueness of the service provided by this online trading service provider is the sales service. Most traders will choose to do a trial or free trial using a demo account on the service. Therefore, this is the right time to test the quality of the broker's customer service. How do they address your need to try out existing facilities, including technical assistance with opening an account, feedback on control and regulation.
If in the presales service you feel the need for trading can be accommodated by several companies, then the company deserves to be included in the short list of the browser.
Of course, each company has different services, policies, and rules. Before deciding, you need to research how the services and facilities they provide. The terms of a good forex broker are if they offer:
Low spreads, especially if they get closer to zero
Level, average 1:100
A user-friendly and easy-to-use trading platform, for example Metatrader
Demo account, a forex trading account that can be used for free without needing to deposit any additional funds
Variations in the number of currencies to be traded, especially major currencies
Methods of withdrawal and withdrawal or withdrawal of funds provided, including bank transfers and e-payments (example: PayPal).
Even though in trading later you will be assisted by a preferred forex broker, you still need to understand the basics of this field in order to reap the benefits. Anyway, there are a number of funds that you invest here. Good or bad a broker depends on the 4 things above, plus to what extent they are able to facilitate your needs and steady trading. Congratulations on choosing carefully!