The number of forex trading is very much at all, be it a conventional broker, or already online. Each broker certainly has advantages and disadvantages. Therefore we should be able to choose a broker that suits our needs and has good credibility.
Some things that you can use as a consideration in choosing a good forex broker, are:
- Choose what suits your needs.
First, you must have a list of forex brokers. After that you have to check to each website, then pay attention to the service and service. If you do not find a service or offer that suits your needs, then look for another forex brokerage agency.
- Check identity clarity
Check the office address and contact address or support, the more complete (email, phone, fax, chat, and comments from website visitors) the better of course.
- Methods of communication and assistance
The broker’s commitment to providing support should be the main requirement. The more complete the method of communication (email, phone, fax, skype, chat) the better. Live support (chat) facilities can be very helpful to us when needing immediate help when there are obstacles.
- Check the regulation:
A regulated broker will give you a feeling of security. A broker with regulation means that the broker is subject to regulation and supervision. Usually, information about this regulation is always included in the broker’s website. Usually about us, contacts, or other parts of the website.
We must also consider the regulatory body, the regulator must be trusted and have strict rules and supervision. For example, NFA (America), FCA (UK), ASIC (Australia), CySEC (Cyprus).
Try to take a moment to look, search and compare information about brokers in forums, blogs, and more. See how other people experience, whether there is a problem with the broker. See also which broker is reviewed or mentioned. The more popular a broker in a country, the broker’s commitment will be greater in the country. Brokers will provide special support services with local language, or other more regional facilities.
- Check performance and apps
In general, there are two common application models people use for online forex trading, that is, by using the app or simply with the browser only. Well please, you first try the broker is most comfortable for you. You can try it by using a demo account.
Some things you can look at and check are:
Note the data rate (whether the graph is intermittent or there is a speed interruption, the speed of order execution, whether frequent stuck, and other things are slow)
Also, note the supporting facilities for technical analyzes. such as the completeness of chart models and indicators. Some of the advanced users, facilities to create their own indicators are also needed. With complete facilities will certainly be very helpful for traders to obtain more optimal results.
For those of you who have busy and many business trips, access facilities through PDA / mobile phones may be an additional interesting feature worthy of consideration.
- Check commissions and fees
Generally, these broker fees for forex trading is already very small. No commissions at all. In contrast to local fork brokers who sometimes still attract commissions. Generally, outside brokers charge already on the spread of the pair. So pay attention to spreads, if too wide, it means that the cost in the broker is expensive.