Most frequently asked questions about brokers
Discussions about choosing a broker are the most common topic on forums and blogs, but besides a specific discussion about which forex broker is best to choose
for trading, there are a lot of questions that arise in almost every trader.
In addition to reliability, there are a lot of other points that you should pay attention to, not to say that they radically affect trading, but it will not be superfluous to know them.
So, what would be useful for any trader to know?
1. The size of the spread - this is how you can evaluate the greed of the broker; the average size of the spread on EURUSD should not exceed 0.5 points. True, if it is much less than this indicator, then your intermediary makes money by draining deposits.
2. Rebate of the spread - almost any broker has such a concept as rebate , thanks to it you can reduce the spread by 20-40 percent.
To do this, you should contact the support service, and if such a service exists, they will convey your wishes to the partner who attracted you to the company. 3. Are there Russian brokers? - Yes, they exist, but most of them are registered in offshore zones, which is safer in relation to the changing Russian legislation. Therefore, almost all DCs that are supposedly Russian have Russian-speaking staff, offices in Russia, websites in Russian, but in no case are they registered.
4. Brokers Fraudsters - surprisingly, there are not so many obvious scammers on Forex; most often, managers do their work negligently, because of this, failures occur, for which the trader and in no case the brokerage company pays.
In addition, the trader may be offered paid services, the need to purchase which is quite doubtful - trading training, CDs, books, paid terminals, advisors and scripts .
All this can be obtained completely free of charge. 5. Unpleasant surprises - delays in withdrawals of up to a week, withdrawal limits during the day, a ban on scalping trading, a ban on trading with advisors, widening the spread.
Any of the brokers is a commercial organization, he is only interested in his own earnings, so saving and increasing your money is only your task. Always carefully read additional terms and conditions in contracts and do not hesitate to use all additional Forex bonuses provided by brokers.