What can you learn from the broker's specification?

One of the most important stages when trading Forex is choosing a broker, but in order to make the most successful choice you need to compare the trading conditions of different brokerage companies.

The easiest way to do this is to obtain information directly from the broker’s website and analyze the specification of assets available for trading.

In order to find this specification, go to the website of the company that interests you - http://time-forex.com/spisok-brokerov , there we click on the “Trading” tab.

Next, select the “Contract Specifications” tab; sometimes this information may be hidden under another menu item.

After the transition, you will see a table containing all the necessary information on currency pairs or other assets - cryptocurrencies, stocks, metals or futures:

1. In the first line, you can select the account type, because the commission amount usually differs dramatically depending on the type of account, and the assets available for trading also differ.

The more prestigious the account, the more assets are available for trading and the lower the commission (spread and swap).

2. In the second line, you can select the asset category - currency pair, CFD , metal or cryptocurrency.

3. By selecting an asset category, you can find out for each asset - the pip value, spread size, swap depending on the direction of the transaction and additional commission if present.

When comparing, you should consider the number of digits in the quote, as brokers can have both four-digit and five-digit quotes, creating the illusion of a low spread.

You can also compare the size of the spread for currency pairs from different brokers on the page - http://time-forex.com/vsebrokery/spred-broker