The Best Forex Broker For You!

Looking for the best forex broker?  “Best” being relative here.  Best in terms of what?  Finding the best forex broker for you may be different from the best forex broker for me as our trading goals, systems and strategies differ from each other on an individual trader to trader basis.

For large traders who want managed accounts with an individual assigned forex broker who deals with his account, the “best forex broker” may be the one he personally gets along well with or who responds to his requests for trades or assistance immediately.

For a retail forex trader presumably like yourself, you may define the “best forex broker” as a company that executes your trades accurately via their trading platform.  Or as one that pays out your forex account within one day when you request it.  Or the best forex broker could be the one that has the nicest trading platform or that give the best spread.

So finding the best forex broker “for you” is not as easy at is seems albeit it being VERY important to have the best you can get as your forex broker WILL have a determining influence on whether you make money in the forex market or not.  They can really give you that extra edge you need in order to be successful in the Forex market or they can break you as many a forex trader will be able to tell you.

Surmising I suppose the best forex broker will be one that delivers a combination of all the relevant factors.  Some being more important than others but there are some CRUCIAL things that you should look out for when searching for a forex broker. These considerations are paramount as there are many rogue forex broking companies online that will take your money and split.  Trust me, it has happened MORE than once not just with me but with quite a few traders I know.

So here are the things I consider when looking for the best forex broker as being crucial:

1. Will they pay out my forex trading account timeously when asked to do so?  Trust me, some forex brokers can give you a serious run around once you want to withdraw any finds from your forex account.  This is a big warning sign that they are crooked.
2. Do they exert any influence on the trading platform during trade?  This is another favourite trick of forex brokers to defraud you of your forex account.  Manipulate the spread and or price during a trade as to either stop you out or turn your winning trade into a losing one.  Fraud!
3. Ease of placing trades.  The best forex broker will have an easy to use trading platform that will allow you to place trades easily.  The system must also be responsive to trade submissions so that there is not a 10 second lapse between submitting an order and it being executed.  1000’s of Dollars can be lost this way.
4. They must make their money on a per transaction basis and not bargaining on the money you loose.  Most forex traders do not realize that when they place an order with their broker they are not actually trading the markets live.  They are trading with their broker who will be making the trade somewhere else.  They rely on you losing so they can claim your money as being lost in the trade whilst they are in fact not even trading your money on the market in real time.

Beginner forex traders tend to look for the best ‘spread’ and or for the lowest account opening balances when they start to trade but soon when they have lost a bunch of money through a crooked forex broker, they try to find the best forex broker.

In my mind, the best forex broker is the one that is not going to cheat you out of your money!  Other considerations in finding the best forex broker of course are things like :

• Getting continued forex training and advice.
• Getting forex signals and forex outlooks for your chosen currency.
• Providing market intelligence of currency movements.
• Friendly and helpful support

With a little research, you can find the right Forex broker who is the BEST for you and that can be trusted. If you lack referrals for Forex brokers, you can try and do a little research of your own.

The best forex brokers will offer potential clients with a demo account. This will allow you to try out their trading platform without actually risking money. You should look for a demo platform that works just like the real thing and you should also determine if you are comfortable with the trading platform.

This is my final suggestion for you to try out their demo system and find out everything you can about them by having direct contact with them, asking them the hard questions such as “how long do I have to wait for account payouts” etc and see how fast and courteous their responses are.  Also read forums and what other say about a particular broker and in the process you will find the best forex broker for you.

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Best Forex Broker

Best Forex Broker Reviewed

If you are planning to invest in the Forex market, you will have to get the services of aforex broker to handle your trade transactions. The kind of broker will largely depend on the type of your investment structure. Majority of brokers represent a brokerage company, and they are entrusted to buy and sell foreign currencies. Their services are vital for doing Forex trading, so don’t think twice on hiring them to help you.

Forex Brokers need licenses in order to operate in the Forex market, and it requires from them to pass some tests to do this. The test are by all means not easy, so one needs to have a solid and relevant knowledge in business and finance matters, with the ideal person having finished or obtained a Bachelors or Masters Degree in both or either fields of study.

Forex Brokers differ from a Forex Analyst. A Forex Analysts’ sole job is to analyze or come up with a specific set of conclusions based on market trends, data’s, and other pertinent information. They usually give Forex “signals” or predictions of fluctuations of the currencies, but at most times, the signals are done by software analysis programs. A Forex broker is just an authorized agent of a financial institution that will follow your instructions and preferences regarding your Forex trading deals and transactions, as dictated and limited with the type of account you have with them.

How The Best Forex Brokers Make Money

Forex Brokers earn their income through commission basis on the sales of a Forex account, and as they buy and sell forex in your account, they get to earn a specified percentage from the transaction. Most brokers usually charge a certain amount for their fees for all of their consummated transactions.

Forex Brokers fall into two categories: Discount and Full Service Brokers. Discount Brokers don’t give investment advice and charge a lower commission. Their fees are low because of their limited service. Full Service Brokers offer more services on your investments and other helpful investment advices, and are paid on a commission basis. So, it’s really advantageous on your part to determine well before hand what kind of Forex Broker to get; as they will be the ones who’ll you have to deal with every time you do Forex transactions.

Your choice of  best forex broker should be influenced by your trading style and type of trader that you are. They are an integral and indispensable part of every day Forex trading. It’s up to you to decide whether to get a Full Service Forex Broker (for larger trading clients) to get the most out of currency trading if you are new to Forex, or choose a discount retail forex broker if you want to do majority of trading decisions yourself. Whichever best forex broker you choose, both are wise investment choices.

Finding the best forex broker starts with a desire to learn and a drive to become a great trader. But learning forex trading online takes dedication and a good teacher. But once you learn how to trade and do so successfully your life will change and you have options and financial resources you never had before.

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