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Choosing the best SpreadBetting Broker to suit youI want to speak a little about choosing a spread betting broker after al...
the Commodities Futures Trading Commission (CFTC)This should be clearly displayed on their webpage so you shouldnt haveany...
at the various joining bonuss they provide.If you stick to these basic rules, you should be up and trading with agreat bro...
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Choosing the best spread betting broker to suit you

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I want to speak a little about choosing a spread betting broker after all its where we need to start before we can trade on any kind of Forex market.

Published in: Economy & Finance, Business
  • Which spread betting broker? We compare brokers here http://www.financial-spread-betting.com/spreadbetting/compare-spreads.html
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Choosing the best spread betting broker to suit you

  1. 1. Choosing the best SpreadBetting Broker to suit youI want to speak a little about choosing a spread betting broker after allits where we need to start before we can trade on any kind of Forexmarket. With the major brokers finally coming on board like Alpari,there is no reason not to get sign up to start your journey into the Forextrading world.Its no wonder trading the financial market has got so popular, peopleare getting really fed up with pathetic interest rates they get on theirsavings, some as low as 0.02%!And with the economy in the worse state it has been since the 1940smore people are looking to learn a new skill and taking action to earnsome extra cash.Because of the increasing popularity of spread betting, this means moreand more companies are looking for your business, which is good newsfor us, because it means they are competing and getting the best offersand rates, to give to us, the customer.So I have created a handy checklist to help you choose the right spreadbetting company to suit you and your trading style.First things first you need to check if they are regulated ornot.Most brokers are regulated, but many arent, some of these unregulatedbroker may look like they offer some great deals and fantastic rates andbecause it can be a bit of a challenge to find a broker that suits yourtrading needs, it can be very tempting to go with an unregulated brokerwho appears to have what you are looking for. While an unregulatedbroker isnt aways going to rip you off, the odds are definitely againstyou.Bottom line isAlways use a regulated provider.All of the top rated brokers in the UK are all registered with theFinancial Service Authority (FSA), if based in the US the top ratedbrokers are registered with the National Futures Association (NFA) or
  2. 2. the Commodities Futures Trading Commission (CFTC)This should be clearly displayed on their webpage so you shouldnt haveany problem finding this out.Next thing we need to check is dealing spreadNow you may think that spread betting providers dont chargecommission, this isnt 100% true. The spread betting companies rely onwhat we call a dealing spread, this is the difference between the bid andask price, or as it also know as the buy and sell.For example the spread on USD/JPY is normally 2-3 pips. The sell pricewould be 0.89882 and the buy price 0.89884.So if you were trading at £1 a pip the cost of each trade would be £2.This is how Spread betting companies make their money, so when yourlooking for a spread betting company, make sure the dealing spreads arelow and competitive.Ok another thing; make sure they offer some kind of demotrading.Most brokers offer you a free demo account to play around with,imagine it as playing with Monopoly money. You can deposit a pretendamount of money and trade it exactly like you would real money, thisway you can test your trading and get it up to scratch before taking theplunge and depositing your hard earned cash.I recommend you always start with a demo account if you are new totrading, it is a vital start to your journey, its the perfect way to learn, andremember, always treat your demo account like you would a liveaccount.One more thing...Try and take advantage of bonus offers, there is a few spread bettingcompanies that are now offering great incentives to join.This is great news for us....But it should never be the main factor in your decision.If you find two or three providers that meet your needs, its wise to look
  3. 3. at the various joining bonuss they provide.If you stick to these basic rules, you should be up and trading with agreat broker very soon.Who do I recommend?I obviously have my favourite broker, although like I mentioned beforeyou should make your decision on your own needs and style, somebrokers that are great for one person, may be wrong for another, its allplaying around with a few free demo accountsTry before you buy!Until next timeChris (admin)  

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