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How to choose a forex broker

Как выбрать форекс брокера Today, the Forex market includes companies, as an online service, and off-line. For example, dealing centers, where you can come and get consulting services or simply to give funds to the management. However, this diversity raises the question: how to choose a broker for trading on Forex, what criteria?

The market is now quite a lot of fraudulent companies, which discredit trade Forex. Therefore needs an informed choice. Unfortunately, it is not always easy to do, but still possible.

Is the current situation in the Forex market, allowing the development of fraudulent schemes, due to the lack of any regulation in this sphere by the state. No, legislation on stock trading exists. But legislation, regulating relations in the Forex market today there is no. At the same time,, There are articles of the Civil Code, Tax Code, that govern the creation of legal entities and natural persons-entrepreneurs, and the procedure for reporting and payment of taxes.

Therefore, the lack of regulation of relations in the Forex market by the state does not relieve the parties, receiving any benefits from conducting activities in this market from the obligation to pay taxes, and report the source and amount of income. Generally, legal entity, working in the field of finance should have the appropriate license from the National Bank. By Forex brokers until it is irrelevant. Therefore, companies are quickly and disappear quickly, that presents the question of reliability in the first place.

Reliability indices broker?

The first sign - reputation Forex broker. You can not be lazy and need to be familiar with all kinds of information, available in the public domain. In addressing the issue, which broker to choose, need to look at the age of. The longer experience, so it may be safer Forex Broker.

Can I pay attention to brokers beginners in Forex, that offer very favorable conditions? One can, but only if, if it is already known representation of brands in the market, subsidiaries of foreign brokerage firms, with solid capital market confidence. But for companies, have arisen "out of nowhere", should be treated with caution. Even if they have a very favorable working conditions.

Reputation in the Forex market - is a very solid capital for broker, which is earned over the years. Therefore, a very reputable companies value their reputation. A novice brokers, though offering good conditions, no image are not burdened with luggage. They is not worth anything close to one day, not returning money to customers, outstanding. Therefore, you need to choose a time-tested, and the experience of other traders in the company.

In determining the, with any of the brokers work in the Forex market, you need to pay attention to the openness of. What other information is available at, Besides trading platforms, analysts and consultants articles? If there is a description of, are the first person, tells the story of creation, has the structure, Licenses, resolution, etc., that a company is more credible. It bears little resemblance to the one-day firms.

Must also pay attention to the level of the site and the information on it. If the site is created by individual design, has all the necessary parameters. Information, which is shown on the site - the unique information, and not reprinted from other sites, and masquerading as their own, that a company earns another plus in asset trust.

But even when all of the conditions, start working on an unfamiliar site still need a small amount.

Good customer service - one of the indicators of quality of service broker

Question customer support is quite acute. Therefore, he must be given time. The question really is important. Since the ability of a broker to react quickly to customer questions for the trader sometimes means a lot. Availability of skilled clock support online chat or by telephone, trader guarantees trouble-free operation.

In order not to be mistaken as a customer support, need to work with her - ask questions, see, how efficiently and quickly meet management site. Knowledge of these parameters will help to orient, any chance of unexpected situations during the trading session. Pay attention to the time of response, whether they are identical to those, declared by the company.

When communicating with the customer service necessary to pay attention to the manner, in which you communicate with service managers. If they allow themselves to rudeness or scorn, if the information is not complete or even incorrect, then such broker is better not to.

In small firms, service providers dealing or brokerage, every client has its own manager. In large companies,, having a large number of customers, provide such a service is more difficult. There is a division for VIP-clients and clients ordinary. But consultants in large companies have professionally and quickly.

Choosing a reliable Forex broker can be carried out and the number of communication channels, that the broker provides. Good, when there is a possibility of communication via Skype, phone or other type of instantaneous communication. This will help, in case of, when an urgent need to adjust the position or amend the terms of the transaction.

How to determine how good trading conditions provides broker?

Good trading conditions, that may be offered to the trader at the broker forex market, include several basic components.

1. Types of accounts

Account type trader chooses depending on the purpose of trading. If a trader - new to Forex, or whether he wants to try out a new strategy, Micro accounts will suit him. Currency Micro accounts - Cent. This account allows you to open the small lots, which reduces the risk of loss.

Professional traders interested account, giving the opportunity to trade on the interbank markets. To this type belong NDD accounts, ECN, STP.

2. No restrictions on the size of the minimum deposit

This is an important opportunity not only for beginners, but also for professionals. Having the ability to conduct operations with the smallest amounts (sometimes from one dollar) allows you to check the viability of the strategy and work methods of conducting trades.

3. Reasonable size of spreads and swaps

Trader is useful to know, that brokers can provide a floating rate spreads, so fixed. If a fixed spread is always the same value, generally, a few points. That floating spread varies depending on market volatility. You need to pay attention to the fact, whether the maximum limit on the floating spread. Good, if it is set.

Swap - is holding two counter transactions (purchase / sale or sale / purchase) combination. At the same time the transactions are made in the same amounts, but with different dates. Swaps do not use on short positions. It is a mechanism for medium-and long-term transactions. Therefore, it is important, that would have had the opportunity to broker the provision of swap and bezsvopovyh (swap-free) Accounts.

4. Maximum Leverage

Not always the leverage necessary. Traders, with sufficient supply of equity, prefer not to use leverage. Although, it reduces financial leverage transactions, experienced traders prefer not to increase the risks of margin.

Traders, not yet earned enough money, high leverage can greatly help. Since the use of leverage is free and in the case of a successful transaction, significantly increases the deposit.

5. Prompt execution of orders, minimum requotes and slippage when choosing a forex broker.

The execution speed of operations affect the result very much trading. So better to choose traders brokers, providing instant execution of orders (Instant Execution). This treatment option is also called the precise execution of orders, that is more consistent with the meaning of this function. Since the present embodiment orders traders broker must make a deal for the price, specified in the application, without deviation.

But it is impossible to stop the movement of the trend. In a matter of seconds the market is changing and changing price. Therefore, there may be requotes, forcing the trader to leave the market and log in again.

Therefore, you should choose a broker, where requotes allowed only when a large scope of market fluctuations in foreign currency. And under normal vibrations can be avoided requotes, and it must provide their broker trader. If it is not, it is better to find another trading platform and another broker.

Precise execution of orders gives an opportunity to reduce the risk of slipping orders. Poet, if the broker does not reduce the amount of slippage on the site, through the use of modern technologies, you should change this broker.

6. Disconnections with the trading server.

Communication failure - a very unpleasant situation. Reliability of communication must be provided broker. One of the main tasks is to ensure a stable broker communication. When connection is broken, especially in very important moments of the transaction, trader may incur unnecessary losses. And well, if the broker can restore trader loss. But better still choose a mediator, capable of providing a high level of communication.

It should be noted, that the speed of the server, from which the trader works, should also provide a high level of connectivity.

Ease of trading terminal broker solves many

The most convenient platform for trading are trading platform MetaTrader 4 и MetaTrader 5. These platforms have all the necessary tools and allow traders to build their strategies, test them and use with maximum convenience and information support.

Good trading platform should enable communication with the account via mobile devices. For this platform should have a mobile version. All major trading platforms have the version, and are able to provide access to and from the mobile phone and tablet.

The importance of input methods-withdrawal when choosing a reliable forex broker

The more opportunities to enter the trading account and withdraw money from their Forex trading system, the easier it becomes work for the trader. Therefore, the broker must provide their traders with different ways to deposit and withdraw money. Not only electronic payment systems, but bank transfers, withdrawals to Visa or MasterCard must be given to the services of traders. This level of transparency increases the reliability of the broker, suggests, that he does not shy away from tax liabilities, and, respectively, it does not threaten the sudden closure.

An important point is the ability of instant entry to the account. It may be necessary in the conduct of trade, when a trader can not or do not want to interrupt trade. Therefore, communication with electronic wallets and convenient option replenishment without logging out of the trading platform - is the positive characteristics of the broker.

Financial turnover - the most accurate operation, but still there, that money "off course". Therefore, the broker must provide the ability to search and search for this payment must also be sufficiently urgent.

At withdrawal, trader should not wait longer time, allocated to their chosen payment system. Deviation in timing can be output only large amounts. In most cases, it should be fast enough to process.

Loyalty Programs Forex brokers

Loyalty Programs - this broker marketing tools, by what he holds and encourages traders. Through promotions or contests, Broker gives traders to test their strength and compete for the prize, that are very important. And this is important for beginners. Also brokers encourage favorable terms those traders, that support large turnover on its operations.

Such loyalty programs allow for the development of the trader, motivate him to continue cooperation with the broker, and thereby create conditions for the development and brokerage, and Trader. Therefore, they are a useful tool. But, before taking part in any promotions or competitions, need to consider very carefully their terms. It often happens, that text advertising campaign does not coincide with its actual program.

Output. All tips, above, have one goal - to help you select the broker new traders, and help market participants to avoid a collision with brokers-night.

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