Today I would like to share,
A Beginners Guide to Forex Trading – What You Need to Know about Best Forex brokers.
This information is very important for Beginners and I will suggest a website which will help everyone very much. Website is : http://www.toponlineforexbrokers.com/
Ok, then how to choose the right and safe Forex Broker?
1. Use a brokerage firm that provides fluctuating price spreads following actual money market movements (No Fix Spread), considering that the difference between the selling and buying prices in the market also fluctuates and is unlikely to Fix, so if there is a brokerage firm that displays the price Fix Spread then surely it is not a price in the real market and this broker must play behind it to manage your trading results.
2. Use a brokerage firm that uses 5 digits behind the comma (with 6 digits overall) in its MAJOR CURRENCY (as in EUR / USD, GBP / USD, AUD / USD, USD / CHF) considering the increasing market capitalization of forex high then it is now using 6 numbers to follow the capitalization. If the broker still uses 4 digits behind the comma (or 5 whole numbers) then surely it is the price that they set themselves.
3. We recommend that you use a brokerage company that provides a margin level of 100%, because in order to protect you from the risk of capital run out if exposed to margin call, other than that this type of broker is a non-Bandar broker and that's good.
4. It is better not to use a full ECN forex broker (if that is really ECN), because the full ECN type broker then you will not be able to do hedging techniques, and also lower leverage and there are rules of FIFO position (first in first out) which of course can be troublesome to you. But often many brokers who declare ECN but not the actual ECN, and if it happens then you should choose a brokerage company type Non Dealing Desk STP or DMA then better and flexible.
5. Do not use a brokerage firm that gives you too high leverage like 1: 1000 upwards, 1: 2000 and even up to 1: 3000 and above, it's not the right broker, and they deliberately provide unreasonable leverage with the aim of your funds can run out without the rest and finally get into the pockets of the city.
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