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Choosing a forex broker is the first step in your forex trading career. For this reason, it is critical that you choose a broker among top online forex brokers with a positive reputation in the industry.
Since there are so many FX brokers to choose from the decision-making process can sometimes be a complicated one. Listed below are some unique features that you should look out for when selecting top online forex brokers:
Customer Support
Leading customer support is the cornerstone of a good forex broker, like IMMFX. Customer support must be available on a 24-hour basis through a number of channels including email, telephone, live chat, Skype and even personal visit where necessary.
The level of service must also be outstanding, helping you to deal with any problems quickly and efficiently, whether they are related to your account, the trading platform and so on.
Selection of Trading Instruments
In today’s trading environment it’s essential that you can diversify your trading portfolio if desired, therefore your online forex broker should offer a selection of trading instruments including currency pairs, precious metals, CFDs, commodities, indices, and stocks.
Excellent Trading Conditions
Learn more about the trading conditions before signing up. How fast is the execution speed? Does the broker offer re-quotes or slippage? How tight are the spreads? The wider the spreads the greater the fees you will be charged. Also find out whether there are any additional trading fees before signing up.
Further to the above, a range of trading strategies should be supported to ensure you are given a completely flexible trading experience.
Trading Tools
A range of forex trading tools as provided by your broker is important in keeping up with the markets and benefiting from all trading opportunities. Find out whether you can gain access to tutorials or webinars, technical analysis, fundamental analysis, a forex news feed, an economic calendar and more.
The Trading Platform
This is another critical component of your trading success. One of the world’s greatest FX trading platforms is the MetaTrader 4 platform, a flexible, customizable and easy-to-use platform.
Safety of Funds
Last but certainly not least is the safety of your funds. Since you will be depositing your own hard-earned cash it is essential that the money is deposited into a premium, segregated bank account and provided with compensation.
Summing Up
All of these factors and more will ensure that you are registering with a leading forex broker that is of a reputable standing. By choosing a broker who meets all of the above standards, you will enhance your chances of making a profit from forex trading.
