Before you consider opening an account with a particular forex broker, you need to assess your trading task based on the profitability and the level of investment.
Not all forex brokers are created equal, there some that are troublesome while other are beginners friendly. There are many factors to consider before you select a good forex broker, but don’t worry I’ll discuss them in this content.
As a beginner you need to select a broker that will leverage your trading profits based on your initial capital. Make sure you have money that you can afford to lose (That’s my opinion).
Let’s talk how to select the best forex broker that can turn your initial investment into massive profits.
Below are the factors that you should bookmark or print, the tips will help you in making money in forex trading.
a. Select a broker that is regulated by US Government or any other related body that deals with forex brokerage.
b. Make sure you select a broker that has less spread as this will help you reduce your loss and increase your profits.
c. Look for the one that allows the use of EA’S, SCALPING AND THE USE OF MT4. There are some brokers that don’t allow the use of forex robot. The reason why brokers hate forex brokers is that most forex robot makes money and they reduce risk. (That’s My Personal Opinion).
d. Look for broker that does not make money with your loss. There are brokers that will have more losses and thus will make money to the brokers. There are some brokers like to trade against the traders especially the beginners.
e. Check the one that it’s transparency in there trading task
f. Go with a forex broker that has a FREE DEMO ACCOUNT. Free account will help you experience with the brokers trading activities.
g. Make sure there is no hidden conditions from the forexbroker. If you really need a robust broker, then i’ll recommend you check review of traderush.com, it’s one of the most powerful broker online.
h.Go with a forex that has a fantastic support. Don’t select a broker that has no chart live support. Personally I love live support.
i. Try a forex broker that has a local office where you can walk in and walk out.
Let’s go to the best forex brokers that I personally recommend
These are forex brokers that are fully regulated, if you’ve any doubt, kindly do a Google search and come back with results on the comment below.
I pride myself in giving more information on forex broker selection. There are many traders who are hoodwink in signing up with worthless brokers and they end up losing money and their investment.
I have the best forex broker, now what next?
Once you’ve identify a good forex broker, the next step that I’d recommend is to buy forex robot. The reason why I recommend the use of forex robot, it’s because it can reduce risks in trading and they have the capability of predicting the market condition.
Do not be a worry lot in using forexrobot, they work as long as you set your parameters okay. If you’ve any issue on forex robot kindly leave your comments below for discussion.
Over to You
We have gone through the steps in selecting a good forex broker, what’s your thought about it? If you want to maximize your profits in trading forex, kindly chose the best broker that will leverage your profits.
Leave your comments below for discussion and we will debate the matter.