So, you've decided to start trading forex? That's great news! Forex trading is exciting, can be very profitable and it's a form of trading that has exploded over the recent years. Ok, you want to trade forex. The next step is to choose a forex broker. A forex broker is your connection to the forex market and will sell and buy forex as you instruct them too. This service isn't free of course. Brokers make money trough commission either as a flat fee or more commonly by taking a few pips from every trade - known as the spread. Choosing the best broker for forex trading will depend a lot on what your needs are and how you plan to trade. Some things to consider are:
How much money do you want to invest?
All brokers have a minimum deposit that you need to have in your account in order to trade, but apart from that, there can be huge differences. Some brokers allow you to trade with as little as $50, while others require $100,000.
How do you want to trade?
Do you want to make many small trades or a few big ones? The commission structure of a broker can greatly affect your profit margins.
How much customer support do you need?
As a new trader you'll probably want to know that you can talk to a customer rep 24/7, and it wouldn't hurt to get some free training material as well. If you're more experienced, then you may just want to be able to get hold of customer support if there's a technical error
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