ConnectFX is known for providing tools that help Forex traders find the best broker for them. The best part is that all of these tools are provided for absolutely FREE. There is no catch, no account to create, no email to provide, these tools are 100% free and available right now at ConnectFX.Org.
ConnectFX has just added to it’s list of tools by publishing a comprehensive guide on ‘How to Choose a Forex Broker.’ This guide clearly lays out all the things that need to be considered when finding a forex broker. Here’s a quick preview of the factors and associated topics that are included in the guide.
Proper regulation is paramount when choosing a broker. There are lots of distinct advantages of using a broker that is well regulated. This guide will cover regulation in detail as well as explaining the differences between regulatory bodies and standards. Data security should be on everyone’s mind who is considering trading Forex. This guide covers what to look for to make sure that the broker has well secured personal and private data.
Trade execution is covered in detail in this guide. It is crucial to understand the differences between dealing desk vs. straight through process brokers. Also covered are the benefits of guaranteed stop losses, and negative balance protection policies. Broker’s can have varied product offerings in addition to Forex. This guide describes some of the other products available such as equities and commodities.
The guide will spell out, for the layman, the differences between spreads, commissions, and fees. It also explains that some brokers, like Avatrade offer a choice of fixed and floating spreads. Some brokers can also charge miscellaneous fees. Trading platforms can vary greatly from broker to broker. Metatrader, web based trading, social trading, and the mobile experience are all topics that are covered.
Account options are extremely important to new traders and this guide will go over options, as well as account types, and whether or not a particular broker can meet all of the necessities in terms of minimum deposit, base currency, lot sizes, and leverage.
Customer Service is gone over in detail in this guide. Traders should be looking for brokers that offer 24hr phone, live chat and email support. Some brokers also offer alternative methods of support. Educational materials and training tools are one of the biggest assets a broker can offer a new trader. Some brokers offer free educational resources including webinars and even one on one training. All of these things are covered, and even more.
This is a great guide for beginning traders to get familiar with what they need to look out for when searching for a forex broker.
Release ID: 120676