How to Choose a Forex Broker?

How to Choose a Forex Broker?

 

Choosing a broker for forex trading should start with collecting information about successful transactions and openness in working with clients. A good quality broker has its portfolio of transactions, a large number of reviews from clients. The easiest way is to check the published trader lists, which are continually changing and being updated. The broker with the most reviews will offer some of the safest working conditions. We also recommend that you pay attention to how the process of registration and deposit-withdrawal of money with a particular broker goes.

Forex broker license

The presence of a broker’s license allows one to judge his conscientiousness and the degree of seriousness in his trading approach. A licensed broker is more likely to settle on all transactions and conduct them profitably not only for themselves but also for the client.

Forex brokers rating

You can find several independent ratings of popular brokers. Traders are sorted here by the number and quality of reviews, working hours, and other vital parameters.

Quality of work

Typically, forex brokers offer one of two transaction processing technologies: Instant Execution or Market Execution. Instant execution is a trade execution at a precisely specified price. If the price has changed during the processing of the request, then the deal will not be executed. Market Execution is the execution of transactions at a price at the time of execution.

This technology of automatic transmission of requests and quotes belongs to the NDD (Non-Dealing Desk) system. It provides fast processing of requests so that the difference between the set and actual prices is not perceptible. NDD guarantees minimum slippage and lightning-fast performance. Choose a broker that allows you to work with both technologies for processing transactions: Instant Execution and Market Execution.

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