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Broker Forex

Written by ForexCult Team
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Broker Forex In the following article, I am going to take the time to tell you about broker forex. It is an important part of your trading that you become aware of broker forex and that you understand what broker forex is all about. In this article, I am going to tell you about how a broker forex should go about handling business with you and how the broker forex should respond to certain situations. I hope that you will find the information very helpful when you are trading in the forex market. The first thing that we are going to talk about is the bells as well as the whistles. When you are researching broker forex, you should always remember that any forex broker that is worth one grain of salt is going to offer you actual real time quotes. The broker forex is also going to offer you the ability to quickly enter the market as well as exit the market. These are the actual minimum requirements for any particular trading software. You may be able to upgrade the software that you have by paying the broker forex a fee on a monthly basis. It is commonly known now that the broker forex is most likely going to offer you an integrated charting as well as a technical analysis package when you have their trading platform. The actual level of integration is known to vary depending on the trading platforms and you should make sure that you understand them carefully as well. Broker Forex and Mini Accounts You will notice that most of the broker forex is going to offer you what is known as a very small account that is known as a mini account and then there is also an account that is even smaller and is known as the micro account; these accounts can be opened with a few hundred dollars. You may think that these accounts are not worth your time but the truth of the matter is that these accounts are actually a great way to get started and they are also a great way to test your individual trading skills as well as the fact that they give you the ability to even gain more experience when it comes to trading. Now that we have got that covered you should know that you need to take the time to make sure that you know the broker forex policies as well as the features before you actually take the time to decide on a certain broker. In this paragraph, I am going to tell you about a couple of those policies and features so that you know what they are. The first feature that you should know about is the currency pairs that are available. When you are trying to decide on a broker forex, it is important that you make sure that the broker forex at least offers the seven major currency pairs. The next thing that you should make sure that you examine is the transaction cost. When it comes to the transaction cost, the costs are actually calculated in pips. You will notice that if the number of pips is lower then you will be able to make more profit. These are just a few of the features that you should know about, so make sure that you take the time to look into them a little better. Broker Forex and Other Policies When it comes to the policies of the broker forex, it is important that you know them. You should make sure that you take all the time that it takes to read the actual fine print section of the contract with the broker so that you are able to be fully aware when it comes to all the nuances that a broker may actually trade to impose on you as a new trader in the market. When it comes to trading forex, finding a reliable broker is known to be a critical part of the process and it is not easy by any means, in fact it actually requires you do have to do some real work that you may not think is required but it is if you are wanting to make sure that you are able to find the right forex broker. It is important that you never go with the first broker that comes across as reliable to you, you want to make sure that you keep searching and that you take the time to try different demo accounts as well.

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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.