New to Forex?
Access to information is the key to navigating the risky but rewarding Forex market. Especially when you are a novice trader and sometimes its better to start with a managed account before you start to trade for yourself.
While you can find a number of websites purporting to offer information, advice or even reviews, it is imperative to get a credible source of information.
What will you get in a credible site about Forex companies like topbrokers.com?
- Live quotes, charts and even the ability to watch the markets.
- Comprehensive analysis of all currencies, indices, commodities and even metals
- Instant news
Find the best Forex brokerage companies
Are you a Forex investor seeking to get a top Forex broker who is not only reputable but also reliable? Seeking a Forex broker is one of the important steps of trading the Forex market as a good brokerage company will give you a pleasant trading experience. There are also countless Forex brokers considering Forex is the largest financial market trading about $5.1 trillion in just a day.
You will never lack a buyer or a seller at the Forex market owing to its enormous size. But what do we consider when reviewing the best broker in the market, let’s say Forex broker Plus500 or others?
Security of your funds
It is obvious why this is the first point of consideration. After all, who wants to offer hundreds or even thousands of their hard-earned dollars to a broker who only promises that they are legit.
Lucky for you, it is not that difficult to determine the wheat from the chaff. There are many regulatory agencies across the world which aim to supervise and protect Forex traders in their jurisdiction. Always ensure that your funds are protected by choosing a reliable Forex broker from a credible informational site on Forex brokers.
You probably know that most of your trading activity happens on the platform supported by your broker. As such, the trading platform that you use should not only be user friendly but also stable enough to ensure your trades are executed successfully. Before committing to a specific broker, always review their trading platforms and the features that they have.
What entails a good broker platform?
- A live news feed
- Technical and Fundamental analysis
Good customer service
You won’t know the value of having good customer service until you lose some money or fail to go long on a trade due to a technical hitch in your broker’s platform. In such an event, having good customer service is the best way to ensure you can easily solve problems as soon as they arise. Quick and efficient customer service is as important as the performance of the company when it comes to executing the Forex trades.
You should, however, note that a Forex broker may have a good or even thoughtful support service when signing up but terrible customer service after you sign up with them.
Transaction and execution costs
Transactions costs will always be a pain, regardless of your trading experience or even volume of trade. It thus, becomes necessary to choose a broker who is considerate when imposing fees or transaction costs. Most of the brokers will either deduct a commission or will have you pay them through increasing the spreads on each trade that you make.
Before going further in your decision to choose a top-rated Forex broker, always ensure that you understand the impact of having tight spreads on your style of trading. It may be important to find a broker who balances between excellent security and low costs of transactions.
Although the Forex market is the largest in the world, there is no single entity which regulates or even monitor the trading of currencies. Owing to this, you are muck likely to find some scams in the form of Forex brokers who will vanish immediately after receiving your cash.
There are some countries that have organizations which oversee any Forex trading. For example, if you are in the US, the Commodities Futures Trade Commission and National Futures Association regulate any futures in the country. For those in the UK, the Financial Conduct Authority oversees the regulation and monitoring of currency and other forms of futures trading in the country.
Find the best Forex brokers directory at topbrokers.com. The portal offers a wide range of information which can help you to filter all the reputable Forex brokers and find the one you desire.
Companies are assessed based on a number of factors such as their security level, regulation authority, customer service and even costs involved.