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Forex Brokers in Switzerland

Written by ForexCult Team
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Forex Brokers in Switzerland In the following article, I am going to discuss if you why forex brokers in Switzerland are the same as anywhere else in the world. When you decide to pick your forex broker, it doesn’t matter where they are located because they mainly all operate on the same methods and systems. The only difference that you may notice is how one broker does things may be different from the way that another forex broker does things. In this article you are going to learn about things that you should avoid when you are looking for forex brokers in Switzerland or forex brokers anywhere else in the world. Forex Brokers in Switzerland What to Avoid One thing that is very important that you try to avoid when you are looking for a forex broker is sniping or in other words hunting. This is known as the premature purchasing and the premature selling of the near points that are present. These acts are known to be shady and are done by brokers who are looking to increase their profits. You should know that there is no broker that is going to own up to these acts but if you believe that your broker is doing this, you should probably go with your gut notion that they are. The only way that you are going to be able to tell if a broker is really and truly doing this is to talk to other traders that have experience with these brokers. There is no sort of organization that will let you know if these shady acts are taking place or not. However, the bottom line is that you need to talk to other traders either online or face to face to actually be able to find out who the honest brokers are and who the dishonest brokers are. Another thing that you are going to want to avoid is margin rules that are strict, if you are trading with money that is borrowed, your individual broker will have an actual say in how much of a risk you are able to take. Saying that, your individual broker can actually purchase as well as sell at its discretion and in turn this can be a bad situation for you as a trader. If you think that these things are going on, once again the only way that you are able to find out is if you talk to other traders. Forex Brokers in Switzerland, the Truth When it comes to forex brokers in Switzerland as well as any other place in the world you need to make sure that you are picking an honest forex broker. You can make sure that you are choosing a honest broker by going online and talking in discussion forums as well as meeting with other traders face to face to talk about the situations that are occurring. There are some things that you should look for when you are choosing forex brokers in Switzerland or anywhere else in the world and one of those things is a wide range of options for leverage. The bottom line when it comes to the leverage options is to make sure that if you are a trader with limited capital the you should make sure that the broker that you have chosen offers you a high leverage. However, if your capital is not an issue you will want to go with any broker that has a wide variety of options for leverage. When it comes to the options that you have, this actually lets you be able to decide the amount of risk that you are willing to take on individually. Forex Brokers in Switzerland and Account Types When it comes to the type of account that you are going to chose normally you will be give an option of two different types of accounts from your broker. The smallest account that you are able to have is known as a mini account, and then you have a standard account and also a premium account. When it comes to the mini account you will find that it may request that you trade a low amount of two hundred and fifty dollars and also offers you a high leverage. The standard account will actually let you trade a wide variety of leverages however there is a minimum of around two thousand dollars. The premium account requires what is known to be a significant amount of capital however it will let you decide the different levels of leverage and also tools as well as services.

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.