List Of Forex Brokers
With the recent explosion of Forex brokers in the retail market it can prove difficult in selecting one which is best suited to your trading needs. A useful way to make a comparison is to make a list of online Forex Brokers and record information about their account facilities. In this way you will be able to make a direct comparison and ultimately an informed decision based upon your trading requirements. List Of Forex Brokers
When making a list of online Forex brokers to compare note down the pros and cons of each broker. You many find if useful to consider the following points:
The trading platform offered by the Forex Broker
Most Forex brokers will allow you to open a free demo account. Demo accounts can be set up in just a matter of minutes and offer the opportunity to make an initial assessment of the platform and what is has to offer. Usually all the features of the live platform will be made available, allowing you to establish whether it will be likely to suit your needs. This can also be a good time to test out the level of service provided and the efficiency of the broker in dealing with any queries that you may have.
Instructional material on offer from the broker
Instructions on how to operate the trading platform will be provided by the broker. This will be designed to familiarise you with the platforms operation and showcase particular features. You will also often find you are given access to free guides covering the basics of the Forex Markets and an introduction to fundamental and technical analysis. List Of Forex Brokers
If you are experienced in Forex then much of this beginner material may not be of interest. Look instead for any advanced training material on offer. This may include articles or possibly even free structured courses or webinars. Bear in mind though that you many have to open a live account in order to access these facilities.
Account types offered by the broker
As competition for retail customer increases online Forex brokers are becoming more competitive. This has led to brokers increasingly offering both Mini and Micro accounts. These allow you to trade smaller ‘lots’ than have been available previously. If you intend to trade with a smaller amount of capital then look for these accounts while you get used to the markets as they will help you to balance risk.
Account Deposit currencies
Accounts are generally denominated in US dollars. Increasingly however brokers are offering accounts in other currencies. JPY, EUR, GBP and regional currencies are now offered by some brokers. Ensure you compare the range of deposit options available if it is important for you to trade in your regional currency..
By creating a list of online Forex Brokers you will quickly be able to compare brokers. This will help you to ensure that you are able to select the Forex broker with the best set of facilities to meet your needs. List Of Forex Brokers