WHY IS SELECTING A FOREX BROKER CRITICAL TO A TRADER’S SUCCESS!
Platinum online trading Academy has been teaching individuals to learn to trade Forex, commodities, and indices for over 8 years and some of our forex traders have been trading the financial and forex markets for over 17 years. Every Year we teach so many individuals from all walks of life on how to trade forex, so we get our reviews first hand from day traders about their respective Forex Trading Brokers and Trading Platforms. Trading with the right forex brokers is one of the most essential tools of success for trading currencies.
It is critical in the forex market to have a broker that you can rely on, this may be a certain resource or tool you require to trade without hesitation. There are different brokers that provide their own unique services to entice the investor in.
The Platinum team has researched and produced a guide for which brokers you should look at using in the market with a brief explanation of why.
BEST FOREX BROKERS FOR TRADING
*This is an average overview of Platinum Traders for the year 2018.
1. IG – They are certainly a 5-star company offering the most security for clients. They are regulated by the financial conduct authority (FCA) and been involved in the financial markets for more than 40 years. The spreads on the foreign exchange markets are variable for pairs like Eur/USD but very low.
CHOOSING THE RIGHT FOREX BROKER AND ITS IMPORTANCE:
Understanding Regulation: It is very important to understand the regulation in your country and how the laws apply. If you are in the UK, your broker must be FCA regulated. If you are unsure of this, visit the FCA register and search the broker company name. If you do open an account with a broker regulated by the FCA then you are also protected by the FSCS which is the financial services compensation scheme which covers, you for £50,000 in the event that the brokers have financial incapability’s.
Trading Tools and Platforms: Does your broker offer you charting software that is compatible with your operating system or a mobile smartphone.
The diversity of Markets offered: The broker should be offering you a diversity of markets and currency pairs to trade. You don’t want to feel limited in your options and also not to have too much choice either.
Spreads and commissions: This is important as this will be your expense when it comes to your trades, any profits you make are always after spreads and commissions are taken. Ensure you are getting competitive prices by shopping around first.
Customer Service: The quality of a good broker is always in the customer service if a broker doesn’t get back to you within a suitable period of time regarding an issue they are not the right broker to go for.
Order Types: and Execution: Some brokers when placing orders will give you excuses your trade didn’t trigger in at price due to slippage. Ensure you are not a victim of this by making sure to call and ask about this before you become a client with them.
Important Notes for beginner forex trader.
If you do not have the correct forex education or knowledge to trade the financial markets you will always have a high risk of losing money. We suggest opening a demo account to begin your currency trading journey to practice your trading strategies. CFDs are complex instruments to the untrained eye and without the correct forex trading courses risk of losses can be a hard way to learn. Also, Bear in mind that losing your money rapidly due to leverage is where 95% of retail investor accounts lose money when trading. A Golden Rule is never over leverage and risk no more than 0.5% of your account while trading.
At Platinum Lets us guide you on your Journey to Financial Freedom and teach you to make money when trading CFDs. If you are looking for a Job opportunity of a lifetime where you can earn a secondary income or looking to start a retirement plan, then speak to a senior trader today on a free consultation.
The Platinum Formula:
Perfect Fundamentals + Perfect Technical Analysis + Perfect Logic + Perfect Risk Management = Perfect Trade
The Platinum Way
At Platinum Trading Academy, United Kingdom, we teach all individuals from different walks of life to become a full-time trader or create a secondary revenue stream by trading part-time. We trade in an Institutional Way by letting the market come to us and being patient. Using Platinum’s Trading system you can take many Pips out of the market. We can ensure using this style of trading your trading will make a turnaround as you will become much more consistent.
If you want to trade like the professionals do, making consistently profitable returns from your trading, get in touch with us and we will demonstrate live exactly how we approach the markets.
Download our free ebook to read about the various Trading Patterns that work in the Financial Market. Watch Trades of the Week Videos in our video gallery. Subscribe to Platinum’s Forex Newsletter.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day!
Live from the Platinum Trading Floor.