How to choose a brokerage firm in the forex market

[zid abdellatif 1]

 

After knowing the most important factors that help you know how to trade in the forex market, we now know how to choose the right brokerage company for you. Through the fierce competition between brokerage firms, each company provides many advantages and characteristics to attract investors, and therefore it is necessary to know the basics and requirements that must be met in the brokerage company that will invest through it.

First: Is the brokerage firm operating legally and authorized by the competent regulatory authorities?

It must be ensured that the brokerage company operates legally and obtains official licenses from the competent authorities, and it is also necessary to know the country that granted the license to the brokerage firm, in addition to knowing whether the brokerage company operates from within the country that granted the license or from outside, all of this to be assured that that company It works under a respectable supervisory authority, applies standards of integrity and transparency, and is subject to strict and strict monitoring.

Second: Transparency and integrity of the trading platform owned by the brokerage firm

Choosing a trading platform that works with the latest advanced electronic devices, in order to ensure that you do not break down or occur with any malfunction and stop during work, especially during times of international economic data issuance, which are the times in which stability is necessary, and this matter is one of the things that prove integrity and transparency The trading platform of a brokerage firm.

Third: Providing customer service

One of the necessary things that must be met in the brokerage company is to provide excellent customer service, and a brokerage company must be chosen that provides customer service in several languages to facilitate dealing with them, because customer service is the one who answers and answers all your questions and inquiries, and that service provides you with smart solutions and good opinions when Your entry into new trading deals, and that service must be available permanently during the day and throughout the week. In addition, the methods of communicating with it are easy and simple and available through the electronic devices of the investors.

Fourth: Does the brokerage firm provide any additional services?

Providing a special manager for accounts and managing trading operations is one of the most important things that must be available in the brokerage company, as the brokerage company is considered the link between the investor and the currency market, and for this one must choose a brokerage company that assigns a manager to teach the investor how to manage his money in the forex market.

Fifth: The types of accounts available in the brokerage company

Many brokerage firms provide more than one type of account, and every investor can choose the type of account that suits him and commensurate with his financial capabilities, and among the most important types of accounts provided by brokerage firms are:

Demo account: It is an account in which a new trader begins in order to familiarize himself with the method of trading in the forex market and gain experience and skill before entering into real deals.
Silver account
Bronze account
The golden account is the highest type of accounts in brokerage firms.
Islamic account
Also, there are many factors and conditions that must be available and known when choosing a brokerage company, such as: Knowing the costs or commissions and additional expenses required from the trader, or knowing if the brokerage company provides some additional services of value such as providing the investor with all the important bulletins, data and information related to market movement. Coins,

In sum, the foreign exchange market or what is called "Forex" is a huge market that attracts many investors, and in which trading operations are carried out on stocks, foreign currencies, commodities, metals, etc. Dealing within the market, you must also know well the criteria for choosing the brokerage company that you will work with, and what are the advantages that it will give you upon registration through it, the forex market is one of the largest markets in the world, and it is a market full of companies, institutions and investors, but do not be intimidated or hesitant, Because investing in the foreign exchange market is profitable and makes you make a lot of money, but if you know the art of money management.

[Muayad 125]

A very good article, everyone must know these points to choose the right company from among the many companies that exploit traders.

Thank you for raising this important topic.

Edited October 2, 2020 by Muayad

[younes Phénomèn 113]

Thank you so much
I agree with you
You should choose a licensed forex broker.
Just be careful.
good luck for everbody