About Me
Finding a Forex broker is a tough process to navigate through and for most people, the necessity of outside assistance is needed. Trying to trade in the Forex market without a broker could lead to devastating results for the normal trader. Similarly, hiring the wrong Forex broker can lead to the same result as trying to muddle through it alone. It is highly important that you be diligent in researching any prospective brokerage firms to handle your financial portfolio.
A good Forex broker will supply you with clients that were successful and can attest to the specific broker's qualifications and success history. Put yourself in that position, would you testify to someone's strengths if they did a poor job for you? Client history testimony should be present in any prospective Forex broker and plentiful to indicate a solid background with trading. You can tentatively assess a lot from a Forex broker with a list of clients that will speak up for the brokerage firm or individual broker. It should be noted that all word of mouth testimony should be taken with a grain of salt and dissected to collect the pertinent information. Testimony should be used in your research to find a Forex broker but should not be the deciding factor.
Another good morsel to test the reliability of any potential Forex broker is the amount of information, literature and lessons that they are willing to give to you. Most Forex brokers are of a high reputation and a solid background however, there are many out there that don't have a good history or no history and it is wise to steer clear of these brokers. You are trying to find a trusted financial advisor and settling for second best, just won't do. The more a potential Forex broker is willing to do for you in the area of helping you understand the Forex trading system, the better quality trader they will be for you.
A good avenue to travel down when seeking a good Forex broker is to ask your acquaintances about Forex brokers and how they met. This can not only give you prospective referrals to great Forex brokers but will also equip you with ideas and resources that you may not have located. If you get a referral from friends, be sure to still research that specific broker and his qualifications before committing to any formal agreement.
The other factor in finding a good Forex broker is the margin of return that is offered. A Forex trading margin used to influence your money and many Forex brokers offer different margins. Finding a Forex broker, who gives a margin of ten to one isn't a very good find so it's worth the time to reinvest in research. Remember that this industry is all about customer service and catering to the clients so if your prospective Forex broker doesn't return your calls within a reasonable time frame it would be advisable to keep searching.
Saturday, December 1, 2007
4 Tips For Choosing a Reputable Forex Broker
Tuesday, November 27, 2007
MIG Investments
| Free Demo Account: | Yes (open a demo account) |
| Mini Forex Trading: | Yes |
| Minimum Account Size: | $2,000 |
| Minimum Trade Size: | 1 mini lot (10k) |
| Customers: | Individuals, money managers, introducing brokers, brokerage firms, and hedge funds. |
| Languages: | English, French, German, Spanish, Italian, Portuguese, Chinese, Japanese, Russian, Arabic, Dutch, Danish, Swedish, Finnish, Ukrainian, and Turkish. |
| Services: MIG Investments is a Swiss online Forex and Bullion broker that provides a unique and individualized service to Forex traders worldwide. Our offering is highly competitive with 2 pip spreads on five currency pairs, leverage of up to 200:1, no commission on all trades, streamline dealing for up to 20 million and no maintenance margin! Our advanced trading platform allows for automated trading: clients can program their own trading strategies or have MIG do the programming. *We offer institutional spreads from 1 pip on EURUSD and USDJPY. Most Institutional spreads are reduced by 1-2 pips compared to standard spreads. |
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i-TradeFX
| Free Demo Account: | Yes (open a demo account) |
| Mini Forex Trading: | Yes |
| Minimum Account Size: | $300 |
| Minimum Trade Size: | 1 mini lot (10k) |
| Customers: | Individuals, money managers, introducing brokers, and brokerage firms. |
| Languages: | Software: English, Spanish, German, Chinese, Japanese, and French. Customer Support: English and Spanish. |
| Services: I-Trade FX desk acts as a market-maker in the forex market. I-Trade FX staff prides itself on offering a unique dealing and trading environment on its desk to ensure our clients get their questions answered and problems addressed, quickly, with straight-forward answers. Your business is important to us and so is your satisfaction. Our trading platform has been designed by traders for traders, which we believe is one of the most outstanding platforms in the industry. |
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FXCM
| Free Demo Account: | Yes (open a demo account) |
| Mini Forex Trading: | Yes |
| Minimum Account Size: | $300 |
| Minimum Trade Size: | 1 mini lot (10k) |
| Customers: | FXCM has over 90,000 accounts via the FXCM trading platform. |
| Languages: | English, Arabic, Bengali, Cantonese, Farsi, French, German, Greek, Gujarati, Hebrew, Hindi, Japanese, Korean, Mandarin, Portuguese, Russian, Spanish, Swedish, Tagalog, and Urdu. |
| Services: FXCM's No Dealing Desk execution gives users access to streaming prices from multiple banks with spreads as low at 2 pips. The NDD agency execution means that you'll be trading directly with the bank's prices, not your broker, and you will never have a dealer interrupting your trades. FXCM also has 24 hour, 7 days a week LIVE support- Phone, IM, and E-mail. Sign up for a free practice account now! |
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Crown Forex
| Free Demo Account: | Yes (open a demo account) |
| Mini Forex Trading: | Yes |
| Minimum Account Size: | $300 |
| Minimum Trade Size: | 1 mini lot (10k) |
| Customers: | Individuals, corporations, introducing brokers, and brokerage firms. |
| Languages: | English, French, Spanish, Romanian, and Arabic. |
| Services: Crown Forex offers trading on 13 currency pairs + gold and silver, superior customer service, one pip spread on all major currency pairs, zero commission, and no interest on swaps or over night maintenance margin. You can complement the package by selecting your own leverage. Our added value is our excellent and reliable news service. |
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Interbank FX
| Free Demo Account: | Yes (open a demo account) |
| Mini Forex Trading: | Yes |
| Minimum Account Size: | $250 |
| Minimum Trade Size: | 1 micro lot ($100) |
| Customers: | Retail investors, sophisticated money managers, and introducing brokers. |
| Languages: | Cambodian, Castellano, French, Hindi, Italian, Japanese, Korean, Mandarin Chinese, Pakistani, Portuguese, Russian, Samoan, Spanish, Tagalog, Taiwanese, and Tongan. |
| Services: Our straight through order processing and unique business model make your continued success critical to our companies health and well being. |
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ac-markets
| Free Demo Account: | Yes (open a demo account) |
| Mini Forex Trading: | No |
| Minimum Account Size: | $5,000 |
| Minimum Trade Size: | 1 lot (100k) |
| Customers: | Private investors, introducing brokers, fund managers, financial institutions, banks. |
| Languages: | English, Spanish, German, French, Italian, Portuguese, Arabic, Russian, and Greek. |
Services:
Execution specialist offering competitive and transparent online dealing. Spot and forward foreign exchange currency pairs and precious metals. Customers can choose to trade foreign exchange in any way they see fit. ACM provides services to a variety of foreign market participants from institutional traders to asset managers and other foreign exchange brokers using our services to private longer term investors, scalpers, arbitragers and extremely active day-traders.
| Spreads: | |
| EURUSD | 2 |
| GBPUSD | 3 |
| USDJPY | 2 |
| USDCHF | 3 |
| AUDUSD | 3 |
| EURCHF | 3 |
| EURGBP | 3 |
| USDCAD | 4 |
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