Check out the Best 30 Forex Brokers!
We are happy to announce that we are now listing “30 Online Forex & CFD Brokers” with completed information including main introduction, bonus promotions and also news releases.
In the below link, you can find out the list of all Forex brokers with some main important service details.
As we have pointed out in the page, there are some very important points to compare when you choose your Forex broker.
Let us educate you for this matter today.
Regulation & License
License is your Forex broker’s accreditation. This is the first thing you may want to check before getting into any other details.
If a Forex broker has acquired the license from major financial regulatory bodies such as JFSA in Japan, CySEC in Cyprus, ASIC in Australia or FCA in UK etc, that means that the Forex broker is following their strict rules of management and it is a one great motive for you to trust the broker.
If your Forex broker hasn’t acquired any financial licenses or licensed by some very minor regulatory bodies such as the ones of offshore islands, then you may want to be careful with their activities. This does not mean that the broker is looking to work on fraudulent activities, but the broker maybe less monitored by third entities.
You may also check the license by visiting the official website of each regulatory body, to confirm the details of the license.
“Leverage” is a one of the main tool when trading Forex. “Leverage” will increase your trading opportunities, and you will have a great chance to earn millions with much smaller amount of funds.
But it also means “Risk”. You must remember that “Leverage” comes with great risks depending on your account balance.
The average leverage among hundreds of Forex brokers is around 1:200 – 500, the maximum leverage in the world is currently 1:3000 which is offered by FBS in Belize.
If you cannot afford thousands of dollars to invest in, that wouldn’t be a problem with “Leverage”. You can even start trading with a few dollars literally.
“Spread” is the main trading cost when you trade Forex.
If the spread is 1 pip, then that means that the trading cost is 10 dollars per 100,000 dollars of transaction round turn.
By choosing a Forex broker with tighter spread, you maybe able to save a lot of money when trading continuously.
Normally, the spread and trading commissions get tighter and cheaper by increasing your trading volume and account balance.
You may want to check out account specifications and negotiate with your Forex broker for your better deals if possible.
Retail Forex Market is very luxurious.
Many Forex brokers offer very gorgeous bonus promotions, such No Deposit Bonuses that don’t require any deposit to start trading, 100% Deposit Bonus that will double up your deposit amount and many other.
Before joining any bonus promotions, it is important to look through the Terms and Conditions to see if there is any tricky conditions added.
Sometimes, Bonus Promotions may sound too gorgeous and sketchy, but there are very helpful occasionally.