Monday, December 28, 2009

Here are some key points when looking for A Forex Broker Review




1. Available currency pairs - Each FX broker will have, at the minimum, the seven major currencies.

2. Transaction costs - The forex broker is paid based on the bid ask spread. There should be no other hidden charges or fees. If the spread is smaller, that means it is better for you. Pip spreads vary from broker to broker so do some competitive shopping.

3. Immediate execution of orders - You will need a broker who will be able to consistently execute your trade swiftly.

4. Margin requirement - If you want to have more leverage, choose a low margin requirement. You can use margin to your advantage to produce huge profits.

5. User-friendly trading platform - Before deciding to go with one particular broker, choose a few forex brokers and ask to sign up for a free demo account.

You would do well to trade with play money while you are deciding which broker and which program works best for you

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