Friday, August 2, 2013

How to Choose Forex Brokers

Forex brokers are the necessary link to forex market, so once you decide to become a trader, you are doomed to long process of selecting the broker that not only suits you best, but doesn't scam its' traders. Almost every day, a new forex broker is being born online. With the abundant variety of features and services promised, the trick is to find a broker that you can actually trust. All of them claim to be the best, and making the right decision is not an easy task. When choosing a broker, which characteristics you should look for and compare? What are ways to build a reliable relationship with a broker? How can you ensure the security much needed in forex trading?

Each forex broker offers spreads (the so-called difference between the selling and the buying prices of a selected currency pair). The basic rule is - the lower the spread is, the better. However, for brokers the situation is reversed; since they get their commissions from spread, a higher spread is definitely better for any broker.

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