GENERAL RISK WARNING:
Trading
the Financial Market has a high level of risk and can result in the loss
of all your funds. You should never invest money that you cannot afford to lose
Tips on finding the best FX brokers
- check the Initial deposit accepted by the broker
- Select a fast and efficient trading platform
- Know the process of withdrawing your
funds
- Check the Quality of the Customer support
- The broker must offer a demo account
HERE BELLOW IS RECOMMENDED AND TRUSTED BROKER BY US AS FOREX ENTRY HUB BLOG
How to choose a broker
Choosing a broker is important and critical moment. Nowadays there are a lot of companies which provide access to the international exchange market Forex.All companies which provide services on the exchange market can be divided into brokers and investment banks.We will consider all main factors below, which influence the adequate choice of a broker:
- The amount of initial capital
- Broker’s publicity and reputation
- Work time during the working week
- Commission charges
- Spread
- Different additional limitations for trading process
- Reliable communication with a broker and technical support service
- Additional services and products for clients
- Operational convenience of software
- Initial capital.
- If the broker offers you to begin trade with 1000$ or less it means that your positions will not be executed directly and only by means of summing up the position of some participants.
- If you decided to begin the trading activity with big investments, so well-established western bank, in which the sum of initial capital should be not less than 50000-100000$ will be appropriate for you.
- Many people think, that the it is necessary to start trading with this amount of money. However, you can manage with little sums. The main rule, which trader should follow, is that the deposit sum should be equal to the amount, the loss of which will not be ruinous for you.
- The broker’s reputation.
- Work time during the work week.
- Consequently, because of the pause in broker’s work it will be risky enough to leave the position opened on weekend.
- Commission charges.
- Spread.
- -With a fixed spread
- -With a floating spread
- The fixed spread is the constant difference between the purchasing rate of exchange and selling rate irrespective of what situation is formed in the market. However nowadays there are a lot of brokers which offer the floating spread. But due to frequent fluctuation of prices on the market Forex by the floating spread there appeared a lot of discomforts for trader, because spread can access about 50 points. However, the floating spread has its advantages. For instance, in the calm market the floating spread can decrease to 1-2 points while the fixed spread remains the former level.
- Different additional limitations for trading process.
- Reliable communication with a broker and technical support service
- Additional services and products for clients.
- Operational convenience of software.