How to choose a real quality forex broker?
09 / December / 19 Visitors: 25
Today, a trader has a wide choice among brokers, and this choice will largely depend on how profitable you will trade. Unscrupulous "kitchens" easily merge client deposits by inserting studs, zeroing the results of trades, and some can evaporate at all. However, if you have chosen the right broker, you will be able to trade as freely as possible, without fear for the integrity and quality of order execution, as well as payment of your earned money. How to choose a Forex Broker? Today we will share with you universal criteria for choosing the right forex broker: Choose a broker licensed by CySec, FCA or other serious organizations. For example, a large "European" FxPro has got both. This ensures that the broker fulfills a number of mandatory requirements of regulatory organizations, such as segregation of accounts, where the company's money is kept separate from clients' funds, is audited and carefully treats its obligations to clients. Violations can result in fines and sometimes license revocation. The company insures its clients' funds against non-trading risks up to EUR 20 thousand. Is the search circle narrowing? Then let's move on to the next point: Look at how many years a broker has been working in the market. In priority those who work long and stably: FxPro (to pass on a site) in the market more than 10 years, agree, not small term for business. And during this time there was not a single regulator fine or serious censure. You should also read the reviews. However, keep in mind the fact that you should not always blindly trust the ratings, here, as everywhere else, there is a competitive war - not all ratings and reviews are independent. Another indicator is the number of prestigious awards. FxPro has received 40 UK and international awards, many of which are based not only on commissions, but also on open votes, which also indicates the level of satisfaction traders have with the quality of their services. Finally, assess whether the trading instruments, spreads and other trading conditions are similar to those offered. In FxPro (go to the website) you will find an online spread table of the largest brokers and make sure that they are among the tightest in the market. Besides, here you will find not only traditional currency pairs, but also stocks of the largest world companies, gold, oil and other assets in demand among traders - only more than 300. This is an absolutely universal algorithm, which is suitable for determining the quality of a company in the forex market. We took FxPro as an example, because in our opinion, they are really an example of quality brokerage in the Forex market. Brokerage choice To make the conversation about FxPro complete, we should note that they provide a lot of advantages for their traders. We have already mentioned that they have some of the most attractive spreads in the market, but the speed of order execution is also impressive: the company reports that 99% of orders are executed in 50 ms. What is especially important for traders is the many convenient ways to deposit and withdraw funds. An additional plus is that the company works with online banking PSB -Retail, which allows you to transfer funds without commission. And from time to time FxPro runs promotions for free deposit from plastic cards, when all commissions are paid by the broker at his expense. In the FxPro Direct cabinet you will find analytics from the leaders of Trading Central industry, a convenient economic calendar with a rating of importance, constantly updated FxPro blog with the most important topics for traders. They also have a curious development in the "Trader's Panel", with the help of which you can "look through" which pairs and positions are the most popular among the company's clients. If you are a trader who works with Expert Advisors, then we advise you to pay attention to the Quant strategy constructor for MT4. It will allow you to convert your proven trading style trading algorithm quickly and easily, knowledge of the programming language is simply not useful. For those who prefer cTrader, FxPro (more details) offers cAlgo application with built-in code editor to create their own robots or download new algorithms from developers. In the final analysis we would like to add that they protect their clients from negative balance, so that the trader's account will never be negative. We wish you to choose the right partners for trading. Have a successful trading!