Many traders use Forex Brokers to invest money and increase benefit. There are many different companies, which are ready to propose the platform for investments. It is necessary to choose one of them, which is the most comfortable for you.
What Can Forex Broker Propose
The most trustful Forex online brokers can propose the following:
- many instruments to analyze the bet;
- maximal credit leverage;
- tight spreads;
- ECN technologies;
- friendly interface;
- MetaTrader 4 and MetaTrader 5 platforms;
- feature of using swap-free accounts;
- feature to work with goods, currency and precious metal;
- easy way to refill account and to get money.
It is better to work with the reliable Forex broker to avoid scamming.
How Brokers Work
Brokers are the mediators between trader and supplier. Suppliers make a public offer and traders can make a deal with any of them. As for the brokers, they get a commission for every deal. It is possible to work on the stock market too, but it is necessary to have enough money for it. According to the practice, trader benefit is about 20% of the deposit on the Forex account.
There is no general rule for regulating the brokers’ business. Some States make them get the special license from the Central Bank. In another States, the companies pay taxes as the common organizations.
How to Choose the Best Broker
There are several rules to choose the reliable company for earning money with Forex. Specialists recommend keeping in mind the following:
- financial rate of the company (it can be from C – low rate to AAA – the highest rate);
- reputation (it is easy to read some comments on different websites to understand weather it is profitably to cooperate with the current company);
- trade conditions (the number of instruments, different features and commission);
- support (it is important to have support, which can solve any problem as fast as possible);
- soft (most brokers propose MetaTrader 4, but some of them use MetaTrader 5 too);
- trader’s study (special courses for traders are important, it can increase their rate and will help them earning money).
Not a broker has a responsibility for traders’ activity. If someone lost money while working, the company won’t have any responsibility.