The Factors for Best Forex Broker for Trade
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| Photo by Chris Liverani |
In this article you will find out the factors to consider when make choice of broker. Especially for beginners in order to get maximum profit and simple to start Forex trading. In addition we list out the top brokers who qualify such factors. At the end of this article you can click the broker of your choose and start make profit, you can also have more than one brokers with different account.
1. Forex brokers with a low minimum deposit
All trades love to have a lots of money in our trading accounts, starting out with a small deposit is highly preferable to ensure you do not take up your life savings. Trading with small amounts helps you grow your skills and prevent you from blowing up your account in the future, for example fbs Market and InstaForex.
Other than the skill building aspect, there are also other advantages that come with trading with small amounts, including; lose less, experimentation and affordable to establish.
2. Forex broker with low spread or low commission
Every broker has a spread, a spread is simply defined as the price difference between where a trader may purchase or sell an underlying asset, simply ask price less bid price.
When we have a low spread which means there is a small difference between the bid and the ask price and a high spread which means there is a large difference between the bid and the ask price.
A low spread generally indicates that volatility is low and liquidity is high the most traders prefer this because of more profitable. The broker use the spread as the profit for the business instead of charge commission but for zero spread they charge commission.
3. Reputable and legit brokers
In order to invest your capital you need reputable and legit broker. You can look if they regulate and registered by legal authorities like IFSC.
Experience of conducting such business in term of time. Payment system cashback policy and comment from other users. Should also find out the broker which cover worldwide so as to make simple to transfer money.
4. Leverage
The Forex business require a huge capital to execute lot as many retail traders not afford or willing to invest the huge amount.
The Leverage is the method Forex traders acquire large amounts of money they initially didn't have to trade with. The higher the leverage the lower the capital the smaller the funds you need to trade.
Leverage has attracted many investors in Forex as it gives the ability to fast track their potential returns.
It is good to choose the broker with high leverage, for example the different broker offer the maximum leverage so you can choose like fbs Market and InstaForex.
Assume you take leverage of 1:100, you will need to provide only 1% of the desired trade size and the remain 99% will be provide by the broker to make your trade work.
5. Trading conditions like Scalping, Hedging, EA Robot, News Trading allowed, Free Swap & Commission
There are some broker put restriction in trading, hence result to reduce opportunity for retail traders to make profit.
For example free swap help the traders who not close the order at night to proceed on another day with interest rate according.
Expert Advisory also help the trader to make profit high so if allowed by certain broker is more advantage as well as hedging also help to reduce risk of loss.
Top Best Forex Broker for Beginner to trade.
FACTOR TO CONSIDER
Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC and Hedging allowed
FACTOR TO CONSIDER
Min Deposit: $1
Spread: Fixed Spread From 3 Pips
Leverage: Up to 1:1000
Regulation: CBR, CySEC and FFMS,
Hedging allowed
3. LITEFOREX
FACTORS TO CONSIDER Min Deposit: $10Spread: Floating Spread From 1.8 Pips
Leverage: Up to 1:500
Regulation: Marshall Islands registration
4. XM FOREX
Min Deposit: $5
Spread: Fixed Spread From 1 Pips
Leverage: Up to 1:500Regulation: (IFSC) and Hedging Allowed
NB: All above brokers paid instantly for both deposit and withdraw
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