Having understood the meaning of forex, it’s time to take a look at some of the attributes of a good forex broker.

Here are some of the attributes you need to look out for before choosing a forex broker....


Before that...

Because to operate at international market, you need a forex broker; not just any forex broker out there, anyone can be, it takes sound knowledge of the international market…plus lots of other factors to be a good forex broker.
But one thing about foreign exchange is…

It sounds technical, but in real sense it is not if you can read some of the available tutorials provided by a few of reputable licensed forex broker.

Let me be sincere with you…

Venturing into forex trading for the first time can be confusing, and technical considering the chats, and some technicalities involved.

But I tell you, you’d find forex trading interesting by the time I’m done with outlining some of the attributes of a good forex broker.

Qualities of a good forex broker
One of the things you need to take into consideration before venturing into forex trading is to find a good forex broker that’d give you value for your investment.

1) A good forex broker is regulated/licensed
If you’ve made up your mind to start trading, you must be selective in terms of choosing a broker; make sure the firm you want to deal with is regulated. There are lots of unregulated forex brokers out there.

So, one of the attributes of a good forex broker is: it must be regulated, licensed and supervised by the local or international authority.

Without regulations, forex brokers can do as they please and this may result in some very unpleasant issues for you as a trader.

Dealing with an unregulated forex broker is like keeping your monies in an unlicensed banking institution.

Deal with a broker that adheres to local and international forex regulations. Adhering to rules and standards is the only definite sign that a broker takes trading very seriously.

2) Account freedom
A good forex broker should give access and unrestricted freedom to different accounts to choose which best suites your needs.

What this means is that if a forex broker gives you the freedom in the choice of account you want, it is signal that it can cater to different traders' financial abilities, needs and aspirations.

The power of choice goes a long way in forex trading, no gagging, no limitations.

3) Demo Accounts
A business that sounds technical should be able to over demo account with the aim of giving new comers the ability to familiarize themselves with the basics of the business.

In Forex trading, two available accounts are: Demo, and Real account(I’ll discuss about this in my next article).

A good forex broker should be able to offer a demo account for those who want to start trading to first give it a try through a demo account before they start putting in money.

If a forex broker promises you $1,000,000 as trading bonus without a demo account, please ignore such broker. Forex trading, like every other business, involves risk.

So, a broker should offer you a free demo account before opening a Live account.

By trading with a demo account you can trade with real conditions but virtual money, so it is absolutely risk free.

Demo account will open your eyes into ins and outs of trading and to put your trading strategy to the test.

Demo account will let you know your strengths and weaknesses as a trader and embark on live trading only when you are confident and ready.

4) Wide range of Trading Instruments
Closely related to account freedom is wide range of trading instruments. A forex broker should create variety of trading instruments from which its client can choose from. The more trading instruments a forex broker offers, the more opportunities are unveiled.

“Choose a broker that doesn't just offer the Major currency pairs but also the Minors, the Exotics, precious metals and other commodities. Gold for example is a very popular trading instrument during times of economic and political instability.”


5) High Risk Investment Warning
As earlier stated, trading foreign exchange involves risk (that’s peculiar to every other businesses that could bring high returns).

A good forex broker should let you know the risk involved in forex trading. A forex broker that attracts you with promotions all the time without issuing warning on the risk involved doesn’t worth dealing with.

A good forex broker should warn you from time to time that trading involves risk…that is “don’t invest more than what you can’t afford to lose.”
It’s just like saying “don’t grant loan you can’t afford to forego.”

A good broker will remind you that there is “the possibility that you sustain a loss in excess of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.”

There should be a risk warning.

6) Low Spreads
One of the regulated forex brokers, forex time explains spread simply as “If you take the bid price and the ask price of a currency pair or other asset and you calculate the difference between the two, that is the spread.”

There is a “red flag” if the spreads offered by a forex broker are high. If a forex broker offered a high spread, it means it’s going to make profit at your expense. One of the good attributes of a good forex broker is: low spreads. In that situation is you-win, I-win trading.

7) Reliable
A good forex broker must be reliable. It must have a customer service handled by ready-to-assist client agent.

Apart from the tutorials, its customer service agent must be ready to assist any time, and make provision for interaction.

Choosing a suitable and reliable broker is vital, as is choosing one that will meet your individual needs as a trader. In order to make an informed decision, a reliable broker is the key.

Convenient Deposits and Withdrawals
A good forex broker takes your convenience into consideration; it should be able to offer you a quick and easy deposits and withdrawals.

Find the rest here.......
http://forextradingcafe..com.ng/2016/05/attributes-qualities-of-good-forex-broker.html

Yes, I agree Why You Must Trade With Regulated Forex Brokers.

The forex broker is the connection between the seller and the purchaser of the currencies that are exchanged in the market. It is, therefore, important that the brokers that the traders want to work with have appropriately planned businesses and a good standing reputation.

The single most important aspect of regulation for the broker is dealing with the requirement of holding the clients’ funds in segregated accounts. This arrangement is in place to protect the users’ funds if the broker runs into financial trouble. This money may not be used by the brokers to settle their debts as it is ‘protected’. If this kind of a scenario happens, this money is to be returned to the client.

http://fxdailyreport.com/regulated-forex-brokers/

Choosing a broker for trading is very important and if we want to be a good trader then we need to choose a reliable and regulated broker. If your broker will be regulated then your trade and money will be in safe hands and there are less chances of to be scammed.


https://www.options12.com/How-To-Trade

Choosing Forex broker is very important and we should choose a reliable and trusted broker. Also broker should be regulated, with regulated broker your will be in safe hands.

https://piptionaryclub.com/

Pls I want to learn how to trade forex. My number is 08063452021 or drop your number to contact you thanks

mazeup:
Pls I want to learn how to trade forex. My number is 08063452021 or drop your number to contact you thanks

You better run while you haven't lost money.