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How To Choose A Forex Broker: Forex-RateIt!


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Tips on how to choose a forex broker for forex trading

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How To Choose A Forex Broker: Forex-RateIt!

  1. 1. How to Choose a Forex Broker? By –
  2. 2. FOREX stands for FOReign EXchange It is one of the world’s largest financial markets with a daily trade worth over 2 trillion By –
  3. 3. Do YOU want a piece of the larger FOREX pie? By –
  4. 4. Start Trading in the Forex Market? To start trading in the forex market, you have to set up an account with a forex broker. Forex brokers are firms or individuals who assist you in the trading activity. They carry out trade (buying or selling currencies) as per your instructions. By –
  5. 5. How Does a Forex Broker Help You? Provides software platform which enables online forex trading. Offers updates related to the forex market. Advises traders in the selection of currency pairs. Facilitates trading through expert market analysis.  Helps with trading strategies and offers timely alerts. By –
  6. 6. Are You Looking for a Forex Broker? Internet is flooded with online forex brokers. Do not select a broker randomly. Invest time in thorough market research. Your decision will impact your profit. By –
  7. 7. How to Choose a Forex Broker? 1 Regulations 2 Minimum Deposit 3 Leverage 4 Demo Account 5 Spreads By –
  8. 8. Is Your Forex Broker Regulated? Trading with an unregulated broker is like putting your money at risk. Make sure the broker is fully regulated with the concerned authority. Some of the major regulatory authorities are - Financial Services Authority UK and U.S. Securities and Exchange Commission. By –
  9. 9. What is the Minimum Account Deposit? Choose a broker as per your investment budget. Look out for minimum account deposits. It is the amount required to start a live trading account. Some of the most popular forex brokers have high minimum deposit. For budget accounts, opt for emerging forex brokers. By –
  10. 10. What is the Leverage? In forex, leverage is the margin ratio available to the account deposit. With a leverage of 100 and minimum deposit $5,000, you can trade for $500,000. Different brokers offer different leverage ratio. As per the experts, 100:1 leverage is sufficient for individual traders. A high ratio will compel you to trade for higher positions increasing risk factors. By –
  11. 11. Does the Broker Offers Demo Account? A demo account is a free trading account that allows users to hone their trading skills. You can experiment with currency trading through a demo account without losing money. It enables you to test the features of trading platform. Novice traders should opt for a broker that offers demo account. A demo account is available for a limited period. By –
  12. 12. Understanding Spreads Spreads are crucial for short-term traders. Not all brokers deal in all the currency pairs. Choose a broker that offers good spread range for the currency pairs in which your are interested in. An ideal spreads range is between 2 to 3 pips. By –
  13. 13. Read Broker Reviews Always read broker reviews provided by forex experts and users. Expert reviews contain detailed analysis of the broker. User reviews offers in insight into the operational excellence of the broker. By –
  14. 14. For more information on Forex Brokers and Forex Education, visit