Which Forex broker to choose? How to orient yourself in a market where there are many operators, all of whom would seem to be able to offer you the best possible conditions. What are the factors to consider?
How can we choose a Forex broker who is reliable, serious, affordable, who can be our partner in the world of investments, our ideal partner for trading currencies and trying to get the best possible results?
In today’s article, we have prepared a guide to help both experts and non-experts choose a good broker. If you want to know more, read on!
The first factor among the fundamental ones for choosing a good Forex broker is regulatory compliance.
These are authorizations issued by the national control and supervisory bodies on the stock exchanges and financial markets.
When we talk about authorizations, we are talking about authorizations that are issued only when the brokers meet particularly restrictive criteria that are set.
Variety of Assets
The second fundamental point for choosing a Forex broker is the quantity and quality of the assets offered.
On the one hand, we must consider the Forex pairs available (having more on the same platform can help us create broader strategies).
On the other hand, we must be interested, especially today, in the presence of other types of assets that we can always choose through the broker we will choose.
The best Forex brokers today can offer you in addition to the currency market also:
Commodities: they are among the most interesting investments for small investors and those with more important capital and strategies. In raw materials, we find assets such as oil, natural gas, copper, precious metals and even food products such as wheat, cocoa, coffee;
Stocks: the stock market is an excellent supplement for any type of strategy, both short and long term; the best Forex brokers also often offer you stocks from the best stock markets in the world;
ETFs: automatically managed capitals have very low commission costs and at the same time can guarantee you good returns even in the medium and long term;
Cryptocurrencies: they are a market very similar to Forex, even if they follow different logics in some cases; almost all the best Forex brokers can guarantee you access to the main cryptocurrencies, such as Bitcoin, Litecoin, Dash, etc.
A good broker should offer you something more than Forex, especially if you intend to create a truly differentiated portfolio, a portfolio that is stable and can withstand the inevitable waves of the markets. The brokerage reviews are great sources of info regarding the assets offered. Make sure to read some of them, such as the HubbleBIT review.
Commissions must be low.
Brokers are not charities; they obviously have to take profits by applying commissions on the trades that users complete.
However, not all brokers are the same in this sense: some offer you the right commission profiles, which affect relatively little on the performance of our investments.
On the other hand, there are brokers who, unfortunately, make you pay a very high price for every single trade. Choose brokers who can offer you fair commissions, who don’t ask you an exaggerated price for the services they offer!