How to choose the best FOREX broker? Each trader usually has its own parameters when choosing a FOREX broker of their choice.
There are several things that a trader needs to pay attention to when choosing a FOREX broker. All of this depends on the condition of the trader itself.
Here are some things that can be used as a reference when choosing a FOREX broker of your choice.
HAVE SMALL TRADING CAPITAL
If your capital for deposit in FOREX broker is limited, there are some things you can make reference when determining the online forex trading where you are trading FOREX later. These references, among others;
Choose Broker With Good Reputation
The first way, choose an online FOREX broker with good reputation, especially among online FOREX traders directly. How, look at forex forums and on facebook.
In FOREX forums there is usually a review and writing experience from other traders. You can also ask directly which broker is the best, or ask the opinion of forum users about certain brokers.
On facebook, you can type directly the name of the broker in the search column on facebook, ask in FOREX groups on facebook, and also ask directly to friend list trader on your facebook. Usually, the information on facebook is more up to date so you make quicker choices.
Choose Broker With Large Leverage
Maybe this is not in line with the advice of many experienced traders. Usually they suggest to use small leverage.
If your capital is small, you can choose a broker that offers a trading account with a large leverage. The goal is that we can trade freely, without limitation by margin limit. If your trading account leverage is small, then with small capital can only open transaction several times.
The drawback, if not careful when the loss will be exhausted all your trading capital quickly.
Deposit – Withdraw Current
Next, choose a broker with a reputation deposit and withdraw smoothly. Especially withdraw a smooth and fast yes. Usually online Forex brokers provide a way of deposit and withdraw to E-Currency like Fasapay, webmoney, and the like. Or it could be with an intermediary Introducing broker / online exchanger.
Hopefully this article can help you when choosing the best forex broker later.