Out of hundreds of Forex brokers, have you chosen the right one?
This is what you should be looking for when you sign up with a Forex Broker.
There are hundreds of Forex brokers in the world.
If you are looking to trade Forex or CFDs(Stocks, Commodities, Equity Indices etc), you may need to choose one out of them.
But how you are going to choose the right one to increase your profitability to the maximum.
Here, we like to introduce you 3 important things you must consider when choosing a Forex broker.
Withdrawal Issues & Reviews
Check out reviews of the broker on the web.
We understand that many reviews are useless or don’t even make sense though, it is still good to check them all to see if there is a possible problem on the broker’s service or not.
If many reviews are stating the same problem, then you should be careful of it and also contact the broker to inquire the issue for more details.
Investors are the best regulators. It is important to know what really investors are thinking about the broker.
Trading cost can range from 0.0 pip – 5 pips normally, depending on each broker’s condition.
1 pip makes 10 USD difference on a position worth of 100,000 USD. So if the spread(the difference between bid and ask price) is a few pips higher than others, then you are losing more than a dozens of dollars on each position.
Why not consider the cost before choosing a broker, so you can save a lot of costs eventually.
*Pip is the second smallest decimal point the price can change. If the price of EUR/USD is 1.2345, then the decimal point where the 4 is where 1 pip moves. i.e. price movement from 1.2345 to 1.2355 is 1 pip.
Forex market is very luxurious market, where many bonus promotions are available by Forex brokers.
Some promotions even offer “unlimited 100% deposit bonus”, “over 10 USD cash back on each trade” and “Demo Trading Contest to win 1 million USD” etc.
Some promotions do sound too gorgeous to believe, but it is worth checking out before start trading.
Combination of trading and bonus is also very important.
Who is NSFX?
NSFX is an online Forex & CFD brokerage firm based in Malta.
Since the foundation in 2012, the broker strives to offer STP(Straight Through Processing) trading environment through all account types.
It is the broker’s main advantage, and they guarantees that
there is no market price manipulation or interference to clients’ orders.
NSFX also discloses the list of their connected liquidity providers which are Barclays, CitiFX Pro, UBX, Currenex and Deutsche Bank.
With the top tier banks connected to the MT4 and NSFX Pro platform, you can benefit from the most “fair” trading environment in the retail market.
For more information of NSFX, please visit the page here.