Sunday, 8 July 2012

New Forex Brokers

The Benefits of Using a New Forex Broker

Whether you are already trading Forex regularly or are looking for a way to begin, you're probably overwhelmed with all of your options. In fact, there are hundreds of Forex brokers to choose from, many of which offer similar services. So how can you know which one to choose?

The most important thing to consider before choosing a new broker is whether or not the broker is regulated and registered with an acceptable governing body. If you're a Forex trader based out of the United States, you'll need to choose a new Forex broker that is regulated by the CFTC (Commodity Futures Trading Commission) and the NFA (National Futures Association). Because of the steep costs of registering with these agencies, only long-established Forex brokers are registered. However, if you live outside of the United States, you can - and should - consider trading with a Forex broker that is new to the market.

Governing bodies outside of the United States, such as the Financial Services Authority, register both established and new Forex brokers, ensuring that your money will be protected with every deposit. A prime example of a stellar new broker is Sunbird FX, a broker which has existed for quite some time, but has recently expanded to serve traders worldwide. The benefits of using Sunbird FX as compared with an older broker are numerous. For starters, Sunbird Forex offers excellent customer service via phone, chat and email. Unlike larger brokers who are often flooded with inquiries, this new Forex broker takes the time to answer each query in a timely fashion.

Moreover, new brokers like Sunbird FX often offer cutting-edge technology that older brokers fail to offer. Some of the best features that are offered by new brokers are excellent customized trading desktops, access to the exclusive MetaTrader 5 platform, and superior mobile trading platforms. If you're looking for these features, you can find them on Sunbird FX, but you can also try Plus500, an older company that has recently been regulated and provides an innovative platform for new traders.

Lastly, it's important to consider many of the bells and whistles offered by newer brokers in an effort to grab traders away from more established brands. Many new Forex brokers offer free signals, access to the latest in mobile trading technology and unparalleled charting options to provide the widest possible trading experience. Yet despite these excellent features, it's always a good idea to try a demo account or research the broker thoroughly before investing any money. Once you've tried a new broker, you may be ready to start a new trading trend.

See also: Sunbird FX Review

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