Pages

Saturday, 23 June 2012

Best Forex Brokers

Criteria For Selecting the Best Forex brokers:

The Forex market is considered the largest financial market in the world. About $1.5 trillion are executed through the daily currency trading and this is the only market that offers 24 hours trading. Thanks to levers, the potential to multiply your capital and make profits are high.

For the best brokers the requirement for participating in currency trading is that they provide access to Forex traders. But what are the other aspects that determine the best Forex brokers? A minimum requirement is the use of real-time quotes, to allow quick, market-oriented actions. Also, it is useful for a broker to provide various analysis, charting tools, and a free unlimited demo account for beginners.

Individual brokers also differ in the minimum deposit, payable by the investor, as well as by the number of tradable currency pairs. Depending on whether traders want to trade only with the major currencies, or with foreign currencies, currency plays an important role in choosing the best Forex brokers.

Some Forex brokers offer training programs that can be used by beginners or advanced traders to expand their level of expertise in foreign exchange. The best brokers offer good support, available 24 hours a day. The best Forex brokers also offer various deposit options for different accounts. Integrated real-time news systems also assist you in understanding price movements and identifying entry and exit points in time. This is useful as foreign exchange rates react very quickly after news about economic or political events. If you are informed quickly, you are able to react in time and make good trading decisions.

# Minimum Size of The Forex Depot

Most brokers usually require a minimum deposit for the depot. These minimum deposit sizes vary between brokers but are generally between U.S. $10, and $50,000, (sometimes even larger amounts). One should also inquire in advance, about the payment limits for accounts, sometimes there are not only minimum deposit amounts but also maximum deposit amounts.

# Trading Software

This is important, you should find out in advance if the used trading software is installed locally (Windows / Mac / Linux) or whether a web-based access is used by the browser. Both options have their advantages and disadvantages, so it could be beneficial to have both versions offered together. You can then, depending on the situation (e.g. failure of a computer) go back to a local software or web browser. It is an advantage if the best Forex brokers also supports the MetaTrader software. This software is a quasi-standard in professional Forex trading, and a first choice for many when it comes to choosing trading software.

# Demo Accounts

Most of the best Forex brokers offer demo where you can practise using their trading software. But remember that these account often have a limited life span. Demo accounts that are available for longer, or are unlimited can be a big advantage.

# Maximum Leverage

The maximum leverage indicates actual money with which traders can use to perform trades. The charm of trading Forex is that you can trade large sums of money with little actual money. e.g.: with a leverage of 100 you can with a trade $ 100, and in Forex currency pairs its worth U.S$ 10,000.

# Margin

The safety margin measures the performance of a trader on the Forex market. The top brokers protect their traders against losses that might otherwise incur in trading. A minimum margin of 1% is required at a leverage of 1:100, and a trade volume of U.S. $ 10,000 requires a margin of U.S.$ 100.

See more on the best Forex brokers and how to choose them at www.forextactics.net or see some Forex broker reviews here, good luck!

No comments:

Related Posts