Important things before choosing a Forex Broker

Important things before choosing a Forex Broker

There are several things you should do to be able to choose the best Forex Broker to make your choice.

1. Do some research

Just read the reviews broker based on the star rating alone is not a guarantee.
First, you must establish the criteria and the things that need to be expected from a broker, and what you want out of this business. Then do your own research.
To support your research, you can make a list of questions to ask Your broker to candidates, among other things:
– Currency pairs (asangan currency) what would you trade?
– How the spreads are suitable for you (fixed, changed, how many pips)?
– Do you want to pay commissions for forex trading?
– What kind of account types that you will use for minimal investment (the size of the accounts)?
L-everage – how much do you need?
– The indicator tool is what you need to start trading?
– Trading Platform what is needed?
– Are You Scalper?
– Are you players Hedging?
– Do you need a Trailing Stop?
– Do you need execution features "one-click trading" or EA robots?
– Would you like the features of mobile trading?
– Would you care to choose ECN/STP/broker Dealing Desk?
– Do you care about reputable forex broker?
– In what ways you send/receive funds transfer (wire transfer, Paypal, credit card. .. etc.)?
– How much are you prepared to pay transfer fee received/paid funds (deposit, withdraw)?
– How much readiness you accept the risk of losing funds in case of loss?

2. Make sure the legally registered forex broker

You're not going to hand over large amounts of money to the person who just admitted that he is a legitimate/registered legally.
Make sure you examine and analyze the forex brokers on legal bodies concerned. In Indonesia, you can check it out to commodity futures trading Supervisory Board (BAPPEBTI), Jakarta Futures Exchange (JFX), and Futures Clearing Indonesia (KBI).

3. Facilitate the setor and pull funds

There is no reason for the forex brokers to make it difficult for You in attracting funds. A good broker will dress it so you can just as easily as it might do setor or withdraw funds.

4. analysis platform

In forex trading, online Forex trading platform is one of the important factors in finding the best forex broker, because the majority of trading activity conducted through the trading platform provided by the forex broker.
Some things to consider when trying to forex trading platform from the broker are:
– Whether the provided features you can use with optimal or not?
– Whether the provided account information? This allows you to track and manage the trading transactions efficiently.
– Whether provided charting tools (price chart) that was easy to understand?
– And whether it provided any other information required in your trading?

5. Order Fulfillment (Execution Order)

Forex brokers have the obligation of fulfilling client orders at the best price. At the moment the market is in a State of normal (normal liquidity, no important news which is broadcast, or large events), there is no reason for the forex brokers not to fulfill the order client on, or at least approaching, market prices are visible at a time when clients press ' buy ' or ' sell ' on their computer.
In addition to some of the things you should consider before choosing the best forex broker, here are tips on choosing a forex broker is genuine and trustworthy.

1. Allow all kinds of trading techniques, including scalping, martingale, etc.;
2. Allow hedging or locking;
3. Do not allow 3rd party transfer 3, because of the safety factor and the legality of money laundry (transfer must be with a Bank Transfer directly addressed to brokerage firms are concerned, there can be no such legal media with Liberty Reserve (LR), Voucher and deposit transfers by individuals or different name);
4. the provided Leverage from 1: 100. Ideally is 1: 200 or 1: 400 max. Don't be like the 1: 1000 because it will blow up your trading account.
5. know the old establishment of the brokerage firm. The minimum should be above 5 years.
With the trading on forex, you are risking the investment fund is not a little. The greater the yield, however the greater the risk.

Then the bijaksanalah in choosing a forex broker and forex trading company. Remember, choose the forex broker with a good reputation, and don't believe its rating, awards and the like which indicates they are the best broker. Except that the rating agencies are giving really be trusted like Forbes, Fortune, Inc., Barons, Deloitte. Outside the institutions it should not.