Home / broker / How to choose a broker

How to choose a broker

How to choose a broker
broker, broker forex, Forex, forex broker, fx trading, forex trader,

broker, broker forex, Forex, forex broker, fx trading, forex trader, 

After a long and hard work on a demo account you managed to acquire some security in their abilities currency.

Before you start trading in the forex market you should open an account with a broker. A broker is a person or company that executes orders at the discretion of the customer or distributor. Brokers earn money through commissions or fees for their services, or the difference between buying and selling prices. In simple words, the broker is our access point to enter the world’s largest stock exchange, ie FOREX. Brokers are available to us via the Internet from anywhere in the world through its website can open your account currency (Forex account), tasks that cast a certain amount of money and we can start with the trade and use our computers.

Broker simply much on the Internet, so special attention should be paid! Each broker offers more or less than the other, opt for a broker who is, above all, reliable so that payments are made, the broker who corresponded to the strategy that aggressive currency market access etc .. .

When choosing a broker find out where regulatory agencies reported.

broker, broker forex, Forex, forex broker, fx trading, forex trader,

broker, broker forex, Forex, forex broker, fx trading, forex trader, 
In the US, the broker must be registered as a Futures Commission Merchant (FCM) with Trading Commission Commodity Futures (CFTC) and should be a member of the NFA. The CFTC and NFA were established to protect traders against fraud, manipulation, etc … Each agent can check the record of the CFTC and a member of the NFA and their disciplinary history at the phone number NFA (800) 621-3570 or by checking the website www.nfa NFA .futures.org / BasicNet /. Among the registered search only those with clean regulatory records companies and good financial performance.

Forex is a market that is active 24 hours a day, from Sunday to Friday from 23h to 23h.

During his work each broker must have a 24 hour support in the form of a support. One way to check a particular broker is that if you rely on your website always in the service and if any problem which speed you can get any answer to your question. You should also pay attention to whether people support in qualifying to give an answer. Here are timely and accurate information appreciated.

The trading platform (online trading platform) is a very important part of every trader. Some traders corresponds to a kind of platform, some other more practical … With most brokers is the most common platform MT4.

Forex market is extremely quick and timely information (in seconds) is required in order to make quick decisions when it comes to trade. Make sure you check if you have a fast Internet connection (ADSL, WiFi, HSDPA). If you do not, do not try to trade. Dial-up it is not entirely responsible for Forex trading!

The inscription can be divided into three parts:

1. Select the type of account

2. registration

3rd activation task

Order Types

We distinguish a couple of types of accounts, and are as follows:

standard currency account – the account of the common currency. These orders are aimed at retailers with much experience in the forex market who are willing to invest $ 1,000 and up. With a standard account for working professionals, so if you are in all this is still a beginner, it is recommended that these tasks opens.

Forex mini account; the mini forex account. Depending on the agent, you can open a mini account with deposit more than a dollar. Usually, it is a condition of opening these types of accounts deposited a few hundred dollars. This is a great way to start and test your trading skills and to gain experience, although often only serve to enrich a broker because small margin, and therefore frequent margin calls-a!

As forex broker today increasingly, competition forcing them to Forex traders offer the most favorable conditions, so it can meet very often with forex brokers that have very small initial stake, and some will and donate some money for the name of an additional bonus for you was found to begin with, just to get them open account.

Micro forex account is a micro forex account. Some accounts of micro forex brokers are those in which the money you spend is not counted in dollars or euros, but in cents. Insert, for example, $ 10 and you will have to take into account 1000 cents. This is ideal for beginners, as they can operate with real money, and have the feeling of working with large digits.


By opening an account you will have to fill the forms in which you need to enter your information such as name, address, city and country of residence. It is not uncommon for a broker you need to scan some of your personal documents (eg, passport, identity card or driver) and to submit it to their respective email. They need this to protect themselves in case of any fraud that may be able to make some of its customers.

Account activation:

Once you have all this before you can access email from the corridor with all the instructions on how to download the program and its platform it needs to operate, and will, among other things, contain information about your username and password as well as ways you can pay the money.

Before selecting a forex broker online, you need to thoroughly examine the possibility and rules of the respective broker and that means the following:

The first available number of currency pairs to trade, namely that each runner has to offer to operate with a minimum of seven major currencies, namely (EUR, USD, CHF, GBP, CAD, JPY, AUD). Eight currency that most commonly traded (USD, EUR, JPY, GBP, CHF, CAD, AUD and NZD) are called the major currencies. All other currencies are called minor currencies or small. Do not worry about small coins, which are there for professionals. In fact this site mainly discuss most nickels more liquid and therefore as USD, EUR, JPY, GBP and CHF.

2. The cost of transaction: pipima calculated. What is the number of smaller per trade by the broker (spread), higher profits taps are traders. If several riders are compared, you will see that each has a different extension in each currency pair. It is preferable to choose a broker that has the smallest extension, their profits for each trade was higher.

3. minimum margin requirements: the lower the required margin is greater potential for higher profits and losses. margins percentages ranging from 25% onwards. low margin requirement is excellent if its commercial success.

4.The requirements for minimum trade size: the size of trade with one lot may differ from broker to broker (1,000, 10,000 and 100,000 units). Lot consisting of 100,000 units is called a “standard” lot, lot consisting of 10,000 units called mini (long), much consisting of 1,000 units is called a lot of “micro”.

5.Interest to a  day (rollover swap) determines the difference between the interest rate the country of the base currency and interest rates in other countries. The higher the interest rate differential between the two currencies in the currency pair, the higher the interest rate to be charged one day.

6.Interest rates on accounts in the margin: Most brokers pay interest on margin trading accounts. Interest rates typically vary depending on the currency in which the deposit was made. If you opt for an extended break from trading, the money in your margin account will collect interest. It should be noted that most brokers do not allow the charging of interest, unless the minimum margin requirement is at least 2% (leverage in the range of 50: 1).

7. Hours of operation: almost all brokers are equal their hours to match the hours of worldwide marketing currency time in Serbia, which is the time from Sunday 23.00h 11:00 p.m. Friday, but for accurate information hours of work are to consult with your broker.

8. free charts and technical analysis: Choose a broker that gives you the best charting and technical analysis. Find a broker that offers free professional services and all necessary assistance for your trade was successful.

Currently ninth automatic execution of your order: This article is very important when selecting a forex broker. Do not choose a broker that changes the price (re-appointment) after you’ve already clicked or a company offering price “ice”. This is very important when trading ” at a glance ‘, ie. When the strategy of his tent to take a small number of taps.

About admin

One comment

  1. Forex Trendy is an advanced software capable of recognizing the most PROFITABLE continuation chart patterns. It scans through all the forex pairs, on all time frames and analyzes every prospective breakout.

Leave a Reply

%d bloggers like this: