A good forex brоker is not the one who gave you the maximum bonus and lured you with some marketing moves. A good broker must be chosen carefully, not focusing on momentary “bangs”.
The most important question which arises to any person who decided to earn on Forex is who can be trusted here. When working on Forex you want to be sure that your money is safe, your broker is trustworthy, your information is confidential. In order to choose the right broker you must know how to choose. In other words – you must know the criteria according to which you can evaluate a Forex broker.
The most important moment is the broker’s reputation. When choosing a broker, pay special attention to its brand and reputation. The optimal choice is a well-known company, ideally one that has been operating on the market for a long time. As a rule, you can find out about such a company and its history on its own corporate website and (with the help of search engines) through the publications in the press. You can read about broker reputation on this site: https://forex-up.com/black-rating/broker/.
also you can read reviews of other traders, working or having worked with this broker, on numerous online FOREX forums. It is not difficult to find such feedbacks, just run a search on the brand of this or that broker. However, in the latter case, make allowance for the “casino effect”. Often weak players, after trying to make millions with a deposit of fifty dollars, remain with nothing, and they can take their “offense at fate,” tarnishing the name of a solid and conscientious brokerage company. You can read reviews on your broker here: https://forex-up.com/broker-reviews/prestigeoption-review/.
Another important component is the amount of commissions, charged by a brоker from his traders. The basic profit of the conscientious brоker or the dealing center is a spread – the difference between the buying and selling price of the currency. The value of the spread may be different in different brokerage companies or stipulated by additional conditions. For example, the spread may be constant in all trading conditions (fixed), or it may be variable (floating) and, in case of significant fluctuations of one currency or another on the market, its value can be significantly increased. Usually at the serious forex brokers the spread price is not high and varies from 2 to 6 pips depending on the trading instrument. If you ling in trading – try Exness Raw Spread Account
Another criterion for choosing a forex broker is the range of trading instruments that it works with. The wider the list of currency pairs that you can trade through the internet trading platform of the broker, the higher your opportunities to maneuver in the market, to apply a particular trading strategy, etc., etc.
