The rise of forex brokers make many traders fret and worried about trading account. Not infrequently with a variety of ways nasty forex brokers will make you lose, even when you get a profit, they will also use many ways to thwart your profit.
Then how to avoid the act of forex brokers naughty and forex broker this fraud? There are several smart ways you can do to prevent you from the crime of this naughty forex broker.
DO RESEARCH
There are many ways and things you can do to choose a broker, most traders choose only by star rating and reviews only. But do you know that the star rating and reviews that can actually be set also from the brokers concerned?
Before you do the research, to be more complete and clear you must make criteria and any data you want from the broker you are looking for. You can also create a list of questions for your research that you can use in finding the best forex broker
What currency pairs are traded
Using fix spread or floating spread?
Are forex brokers willing to pay commissions for forex trading?
You want to trade by using what type of account? Mini, Cent or regular?
How much leverage do you need in trading?
What indicators do you need in trading?
Which platform do you want to use?
Are you a scalper trader?
Or are you a hedging trader?
Do you need a trailing stop? Or just Take Profit alone?
Do you like the One Click Trading feature?
Or are you a trader who uses EA robots?
Are you a mobile trading?
Which one do you choose? ECN? STP? Or Dealing Desk?
Are you one of the people who care about the reputation of forex brokers?
How to deposit or withdraw? Via what?
Is the broker ready to receive deposits and pay withdraw in large quantities without a hitch?
And the last most important question
Are you ready to accept the loss as a risk when you suffer a loss?
MAKE SURE LEGAL REGISTERED FOREX BROKERS
You certainly will not hand over your money to a troubled forex broker is not it? The only way you can transact legally and comfortably is by trading forex trading with an authorized and legal broker.
Make sure the broker you choose is an official broker and legal. There are several world-recognized regulatory bodies that you can make reference to
America: Commodity Futures Trading Commission (CFTC)
United Kingdom: Financial Services Authority (FSA)
Germany: Bundesaufsichtsamt Fur der Wertpapierhandel (BAWE)
Hongkong: Securities and Futures Commission (SFC)
Singapore: Monetary Authority of Singapore (MAS)
French: French Commission des Operations de Bourse (COB)
Australia: Australian Securities and Investments Commission (ASIC)
Indonesia: Futures and Commodity Watchdogs
DEPOSIT PROCESS AND EASY WITHDRAW
The funds in your forex account are absolutely yours and there is no reason whatsoever for forex brokers to make it difficult for you to deposit or withdrawal. Easy here means it does not mean instant, because a legal forex broker will use wire transfer and not use third party for deposit and withdrawal process. Easy here means if eligible for deposit / withdraw then its process will not be complicated.
PLATFORM ANALYSIS
This is the most important because in forex trading in the future you will be very familiar with this trading platform. There are a few things you should look into trying this trading platform:
Whether you can maximize the features provided or not?
Are you easier to track and manage transactions with account information?
Are price charts available easy to understand?
Is the execution easy? Or too much requote?
Bijaksanalah in choosing a forex broker, do not choose because affected friends or tempted bonuses big bonus. Choose a forex broker who really has a good reputation and trusted.
Then how to avoid the act of forex brokers naughty and forex broker this fraud? There are several smart ways you can do to prevent you from the crime of this naughty forex broker.
DO RESEARCH
There are many ways and things you can do to choose a broker, most traders choose only by star rating and reviews only. But do you know that the star rating and reviews that can actually be set also from the brokers concerned?
Before you do the research, to be more complete and clear you must make criteria and any data you want from the broker you are looking for. You can also create a list of questions for your research that you can use in finding the best forex broker
What currency pairs are traded
Using fix spread or floating spread?
Are forex brokers willing to pay commissions for forex trading?
You want to trade by using what type of account? Mini, Cent or regular?
How much leverage do you need in trading?
What indicators do you need in trading?
Which platform do you want to use?
Are you a scalper trader?
Or are you a hedging trader?
Do you need a trailing stop? Or just Take Profit alone?
Do you like the One Click Trading feature?
Or are you a trader who uses EA robots?
Are you a mobile trading?
Which one do you choose? ECN? STP? Or Dealing Desk?
Are you one of the people who care about the reputation of forex brokers?
How to deposit or withdraw? Via what?
Is the broker ready to receive deposits and pay withdraw in large quantities without a hitch?
And the last most important question
Are you ready to accept the loss as a risk when you suffer a loss?
MAKE SURE LEGAL REGISTERED FOREX BROKERS
You certainly will not hand over your money to a troubled forex broker is not it? The only way you can transact legally and comfortably is by trading forex trading with an authorized and legal broker.
Make sure the broker you choose is an official broker and legal. There are several world-recognized regulatory bodies that you can make reference to
America: Commodity Futures Trading Commission (CFTC)
United Kingdom: Financial Services Authority (FSA)
Germany: Bundesaufsichtsamt Fur der Wertpapierhandel (BAWE)
Hongkong: Securities and Futures Commission (SFC)
Singapore: Monetary Authority of Singapore (MAS)
French: French Commission des Operations de Bourse (COB)
Australia: Australian Securities and Investments Commission (ASIC)
Indonesia: Futures and Commodity Watchdogs
DEPOSIT PROCESS AND EASY WITHDRAW
The funds in your forex account are absolutely yours and there is no reason whatsoever for forex brokers to make it difficult for you to deposit or withdrawal. Easy here means it does not mean instant, because a legal forex broker will use wire transfer and not use third party for deposit and withdrawal process. Easy here means if eligible for deposit / withdraw then its process will not be complicated.
PLATFORM ANALYSIS
This is the most important because in forex trading in the future you will be very familiar with this trading platform. There are a few things you should look into trying this trading platform:
Whether you can maximize the features provided or not?
Are you easier to track and manage transactions with account information?
Are price charts available easy to understand?
Is the execution easy? Or too much requote?
Bijaksanalah in choosing a forex broker, do not choose because affected friends or tempted bonuses big bonus. Choose a forex broker who really has a good reputation and trusted.
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