What You Really Need is Not A Forex Broker Review! Learn Why!
The Mistake Most Newbie or Inexperienced Forex Traders usually make is Rushing to Open a Live Forex Trading Account with any Forex Broker Advertising their Competitive Low Spreads and High Leverage after reading a Forex Broker Review completely ignoring the other critical elements to note about the Efficiency, Integrity and Reliability of the Forex Trading Broker in Question.
There are no doubts about Low Market Spreads reducing the overall Cost of Trading, and High Leverage when controlled wisely with skill and the necessary Trading Experience being a very valuable tool to the Currency Trader but these aren’t the only things we can use to Judge the capacity of any Forex Trading Broker.
- Minimum Slippage
Slippage occurs when there’s a Tremendous Increase in Volatility due to a sudden surge in Trading Activity usually caused by a Major Political or News Event. Some less than Ethical Forex Brokers milk these occurrences to their fullest extent by offering Very Wide Spreads to the Forex Traders.
Some Forex Brokers Advertising Low Spreads usually follow that line at the bottom of their Webpage or License Agreement, which they know most Inexperienced Traders do not read with “In Normal Market Conditions” clearly pointing out to you that they do not guarantee such spread in case of hyper volatile market conditions.
- Efficient Customer Support
Am sure you do not want to become business partners with a Forex Broker who takes forever to reply your Troubling emails or worst still doesn’t even reply them.
An Efficient and Top Class Customer Support is another very important factor you’d want to consider when deciding if a Forex Broker is worth your Precious Time and Money. If they have a Live Chat Platform with Competent Support Agents that makes it even all the the more better.
- Reputation
You wouldn’t want to be friends with a fraudster would you? of course not! Talk More of Entrusting your Hard Earned Trading Cash with a Dishonest Forex Broker whose ethics are questionable.
Establishing that the Forex Broker you wish to Trade with is Honest, Reliable and Trustworthy is enough to give you a peaceful sleep at night. Trading in itself is enough of a nerve Testing Adventure Let’s not add a dishonest Forex Broker to our worries.
- High Leverage
This is an Exclusive Advantage in itself. I strongly advice that Traders who wish to use a High Leverage should have acquired a certain degree of Technique, Skills and Confidence Trading the Currency Markets.
With that out if the way, if you trust your Trading Abilities well enough after you must having acquired the Right Forex Trading Education, High Leverage could get you making the Big Bucks in Record Time. You want your Broker to have this option available when you’re ready to make this switch.
- Variety of Forex Trading Platforms
You’re not always going to be on your Computer or Trading Desk. Being a Trader, you’ll also want to check in on your Trading Positions to see what’s up with them.
A Broker Offering a Variety of Trading Platforms for Handheld and Mobile Devices or a Web Based Trading Portal makes your Trading Life the Easier and More Convenient.
- Low Spreads
You want your Forex Broker of Choice to offer Very Low Spreads since Forex Trading is Not a Commission Based Market, Spreads are our Cost of Trading, in other words, Higher Spreads makes Trading more Expensive and Vice Versa.
- Bonus On Every Deposit
Trading Capital is the Most Important thing to any Trader without which you couldn’t even be able to Trade in the first place. The More funds you have available to Trade with, the more Money you’ll be able to make eventually.
If you start Trading with a $1000 Forex Trading Account Balance you’ll make more than a Trader with a $100 Account even if you two would be using the same Trade Entry, Exit and Risk Management Strategies.
Bonuses offered by Forex Brokers help Boost your Trading Capital thus helping you make more Money in half the Time.
- Investor Friendly Forex Services
The Forex Trading broker I work with offers a wide range of services to help both Traders and Investors alike.
The ForexCopy Service Helps you get to Subscribe Automatically to Trades of Professional Forex Traders you choose who have Consistent Profits without even the need to Transfer Trading Funds from your Trading Account to The ForexCopy Trader’s Account. Thus Making Money as a Forex Investor.
Instaforex also offer a wide Range of Services which I Talk about in More Detail in this blog post Titled “What is a Managed Forex Account?”. To Open an Account @ Instaforex visit this link.
Hope you found this post helpful, do not hesitate to ask any question you might have. love to hear your comments. That’s it for now people. cheers…
Forex Coach,
Anas Abba
|
||||
Anas Abba is an Active Forex Trader and Fund Manager at DigiTrix Fx Firms. His "Crack-the-markets-with-your-mind" Style of trading has helped 100+ of Aspiring Forex Traders all over the world achieve their dreams of Financial Freedom Through Currency Trading. Connect With Anas Abba (Forex Coach) on Google+ or Join His "Schooling Y'all on Forex" Community to get The Hottest Forex Trading Tips, Techniques and Strategies.
0 comments:
Post a Comment