How To Choose The Right Broker For You

How to Choose the Right Forex Broker

Choosing the Right Forex Broker

As of today, there are hundreds of Forex brokers around the world claiming to be the best among the rest. But we all know that only a few of them are really good Forex brokers.

Some will even tell you how they helped their clients make millions of dollars within a week . Some online Forex brokers will even inform you that they are regulated by the EU and other spurious agencies that do not exist.

The most annoying lie is that they do not charge commissions. If they don’t charge commission, then how do they make their money? Perhaps by lying to you about the real price of the currency, a practice that is immoral and evil .

To avoid such bogus Forex brokers, you really need to make sure due diligence is practiced . And we believe you are on the right track of choosin g the right Forex broker with the following tips .

Forex Broker Reputation

How many years of experience do they have?

Are they registered by FCA, NFA, CFTC, CySec, ASIC or any reputable regulatory body?

Do they have good or bad reviews?

These are some of the questions you need to ask yourself before choosing any Forex broker.

Of course, some of them will prevaricate about their reputation.

But you can confirm their claims by doing your research on the Internet or by contacting their previous or existing clients.

You would also be better off if you use our platform to check their reputation. At Forex Rank, we help you to find the most reputable forex brokers that can meet your needs.

We also show you the rankings of each Forex broker so that you can make the right decision. All listed forex brokers on forex ranks website have been “reputation verified”. We have researched every broker to make sure they meet our standards and feel confident providing this to you, the trader.

Broker Deposits and Withdrawals

After you’ve confirmed the reputation of your potential Forex broker, the next thing you should consider is whether you have the leverage to terminate your Forex account and withdraw your funds anytime you are not pleased with the services offered.

This right should not be negotiable. You should also confirm that you can deposit money with your Forex broker with ease. In sum , make sure that all these criteria are clearly specified in the terms and conditions of working with your potential Forex broker.

Spreads

In simple terms, the spread is a difference between the price of buying a currency (ask price) and the price of selling a currency (bid price) .

It is the gain which you r Forex broker helps you to make by selling a particular currency. In return, your Forex broker charges you for maximizing your spread, which is not fixed most times due to market changes.

So, make sure you compare the commission of each Forex broker before you make your final decision. We have seen situation s where Forex brokers would lie about the spread in order to maximize their own profit.

Thus, you need to be ve ry vigilant about pricing. Another option you have is to use Forex Rank to select the best Forex broker who will not try to manipulate the spread.

Margin

A margin is a short-term loan you borrow money from your Forex broker at a fixed interest rate so that you can increase your investment return.

Before setting up a margin account with your potential Forex broker , ask him or her about the margin percentage, which is usually 1% or 2%. The lower the margin percentage, the lower the amount you will deposit with your Forex broker.

For ins tance, if you want to trade $1,000, 000, a 1% margin percentage means that you will deposit $10, 000 and a 2% means you will deposit $20, 000. So, the more funds you deposit into your margin account, the more the risk you are taking. For instance, a 2% margin requirement represents a leverage of 50:1 while 0.50% represents a leverage of 200:1.

Trading Platform

A trading platform is the software application where all trades are performed. Some Forex brokers have devised disingenuous ways of manipulating their trading platform to their advantage.

Hence , your pri ority should be finding an online forex trading platform that is reliable a nd has the greatest automation. One of the best and most popular platforms is metatrader 4.

It features many built in trading and charting tools and also have a well made mobile app to trade on the go on your mobile device. Eg) Iphone Samsung’s, tablets etc.

Currencies and Other Markets Offered

There are more than 100 currencies in the world, but only a few of them are relevant in the Forex market.

This includes the U.S dollar/Swiss franc (USD/CHF), the Euro/U.S. dollar (EUR/USD), U.S. dollar/Japanese (USD/JPY), and the British pound/U.S. dollar (GPD/USD) “the majors”. Regardless, you should confirm whet her your Forex broker offers the selected Forex pairs you prefer before investing your funds.

All of our brokers listed have a wide range of markets to trade including currencies (Forex), cryptocurrencies(Bitcoin etc), futures,cfd’s, precious metals and stock indices. Take a look at our forex broker review page for more info Here.

Customer Service

This should be your most important criteria for choosing the right Forex broker.

You don’t want a situation where you want to buy or sell a particular currency and you can’t reach your Forex broker on time or need some important account changes handled.

A good Forex broker should be able to provide you 24/5 customer support as well as respond to your complaints and educate you about how you can minimize losses.

Offering a live chat to chat to clients is always a bonus. Forex rank has tested all brokers for customer service satisfaction.

Bottom Line

There is nothing more fulfilling than choosing the right Forex broker. You will have peace of mind and have more time to do other important things (like trading!).

At Forex Rank, we take pride in helping you find the best Forex brokers from around the world. Just give us a try and you will be glad you did! You can check our Forex Broker Reviews so that you can feel confident that your money is in safe hands.

Binary Options – How To Choose The Right Broker

Binary options are becoming a more and more popular and accessible tool for exchange trading for private investors. However, most beginners with no experience or professional expertise make a lot of mistakes which are critical to their trading results. One of the main causes of loss of capital in binary trading is the choice of a brokerage platform which is unsafe and professionally unfit for effective trading. In this article we will offer a list of recommendations which will allow you to choose the optimum platform, based on its trading conditions and technical tools, for consistently profitable results with binary options.

So, let’s first understand the need for a broker for the implementation of trading processes and profiting. The presence of a mediator for working with options is necessary due to the legal conditions on the market which are set by regulators. Only having the status of a legal entity and a market regulator’s license allows you to directly enter into transactions with binary options. For this reason, the online investor needs a broker to register transactions on the binary market on their behalf.

When choosing a brokerage company many investors rarely pay attention to the complete list of the company’s working conditions or their technical capabilities. This eventually leads to negative results. In addition, the choice of an unsafe and non-professional trading platform can lead to collaboration with scammers who simply do not give you the opportunity to earn money and eventually take possession of your funds. For these purposes, there exist many schemes and technical approaches – from quote fraud to the outright theft of your investment. Against this backdrop, we recommend working with the resources of systemic, licensed companies, which occupy a fairly large segment of this financial services market.

The safety and professionalism of the broker can be determined in a number of ways – by using company ratings on special informational services or by making your own conclusions based on analysis of the broker’s activities and its professional services and tools. The latter method is the most effective and allows investors to determine the best possible operating conditions for binary trading instruments for themselves.

How is a professional broker different ?

On this issue, we offer a list of conditions and technical parameters for brokerage companies that are the hallmark of a secure platform with professional trading services for binary trading:

• A license from the national regulator of the trader’s country of residence
• A professional terminal, preferably a proprietary design, on which a variety of technical analysis tools and a wide range of support services are available
• A demo account – a quality training simulator available only on professional platforms
• Free training
• Quality analytics
• The minimum trading conditions
• A wide range of marketing related offers – bonuses
• Positive feedback from traders

As an example of a secure platform with a list of professional services that contribute to obtaining good results, we can offer the platform for online trading from the European Binomo broker, where investors can take advantage of the following range of services:

• A license from the Russian financial market regulator FMRRC
• The broker’s trading terminal is equipped with an indicator and chart set of analysis tools, gives access to a wide range of assets, and offers options yields of up to 90% and the maximum number of additional technical tools

• A demo account on the main trading platform for training in real market conditions
• A system of free training based on progressive approaches

• Daily professional analytics
• The widest possible range of bonus offers – for account replenishment, recurrent promotions, and professional tournaments with big prize pools

• The minimum trading conditions – a trading account starts at $10, the amount of the minimum bet is $1
• The bulk of traders’ reviews are positive which gives the broker a good reputation

Taking into account the list of indicators for the company, the existence of a regulator’s license, as well as the availability of professional technical tools on the broker’s trading platform, this platform for binary trading is safe and effective for use on the binary market.

By choosing the right broker, you will be able to maximize your potential on the matter of consistently high earnings and save yourself from the unpleasant consequences of working with fraudsters.

How to Choose an Online Stock Broker

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How to Choose an Online Stock Broker

When it comes to day trading, pretty much all you need to get started is a computer or laptop, an internet connection, and an online stock broker.

In this day and age, most of us have the former two on lock. But as for the online stock broker … which one should you choose?

Your broker is the gateway to executing trades, so it’s important to take the time to choose one that suits your personal trading needs so that you can maximize every trade.

This post will educate you on some of the things to look for in potential online stock brokers, and how to narrow down your choices.

What Is an Online Stock Broker?

An online stock broker is a web-based broker that facilitates trades.

At one time, your options were limited in terms of online stock brokers. These days, however, there are many different options out there, from brokerages associated with big banks to purely web-based ones.

While the variety is a good thing overall, it can make the decision more difficult because there are many more contenders for your account.

How to Choose an Online Stock Broker

How can you narrow down the many choices available so that you can figure out which broker is just right for you?

Short on time? Our lead trainer, Tim Bohen has some quick tips for choosing a broker — watch it here!

While the answer is ultimately up to you, these considerations can help you make an educated decision:

What are your goals?

Before you settle on an online broker, take a little time to consider your individual goals as an investor.

Not only can clear goals provide motivation, but they can help you decide on the best approach for trading and a broker.

For instance, if your goal is to save for retirement, you may have different needs than if you want to buy a car in the next year. Assessing the aggressiveness and frequency with which you’ll be trading can help you determine which broker is the best fit.

What’s the account minimum?

Be sure to look at what minimums are required to open an account with various brokers.

These days, many online stock brokers have no required minimum to open an account. This is great for new traders who are starting out with fairly small accounts.

However, others may require as much as $10,000 as a starting account balance. Obviously, depending on the account size you want to get started with, this can take some brokers off the table from the start.

Recently, StocksToTrade incorporated broker integration, so you can execute trades right from the platform. As a limited-time promotion, traders can open an account with Tradier with just a $500 minimum account requirement! This is for a limited time, and it’s exclusive to STT members!

Are there trade commissions or fees?

It’s not uncommon for brokers to charge commissions or fees on trades. However, you want to make sure to research what these fees are before you sign up.

For example, at the time of this writing, popular brokers Ally Invest and E-Trade both charge commission fees of $6.95 per trade. This is charged upon buying or selling.

Other brokers, like Robinhood ( soon compatible with StocksToTrade ) , don’t charge a transaction fee on trades. However, this doesn’t mean that everything is free.

As thei r website says, “there are fees charged by the U.S. Securities & Exchange Commission and FINRA on all sell orders.” So while Robinhood won’t be charging their own fee, they will charge the amount required by these regulatory agencies.

Are there other account-related fees?

Be sure to dig a little deeper than just commissions and per-trade fees. While a broker might seem like they have a very reasonable fee structure, sometimes there can be hidden costs that can add up over time.

For instance, some accounts will have a yearly fee, or may charge if you dip below a certain balance, or if you are inactive for a period of time. There may even be a closing fee on some accounts.

Be sure to research any account fees like this from the beginning, rather than being surprised by them later. You don’t want to lose money due to unforeseen fees.

Is it available in your country?

If you’re not in the U.S., can you still use an online broker? Absolutely. Interactive Brokers is available to non-U.S. members, and it’s compatible with StocksToTrade.

Do they have stock analysis tools?

Some brokers offer stock analysis tools for free. Others offer them for a fee. And others have minimal resources for analysis.

If you are a member of StocksToTrade , this may not be as big of a consideration, because you already have a thorough platform to perform analysis and you may not need this feature as much.

So, for instance, if you already have the analysis tools via StocksToTrade, you might be able to choose a broker with fewer analysis tools if you like their other offerings.

Consider customer service.

If you have an issue or an inquiry, how easy is it to get in touch with the customer service department?

Researching the customer service offerings is something that many traders overlook when opening accounts, but that can prove very frustrating later on when you find yourself in need of assistance.

Consider calling the customer service department before opening an account to ask any outstanding questions. It can be very informative!

Ask around.

There’s nothing like a person-to-person review. Read online reviews and ask other traders their thoughts on various brokers.

Chances are, you’ll find out some invaluable information this way that can confirm the brokerage you’re leaning toward, or alert you of potential red flags.

Conclusion:

Choosing an online stock broker should not be taken lightly . The right broker can help you make the most of every trade, which can help you get ahead over time. It’s worth your time and research to make sure you find an online stock broker that’s well suited to your needs.

Big News!

StocksToTrade has established itself as a premier platform to help you choose the best stocks to trade, but now it’s even better.

We’re proud to introduce one of our most exciting developments yet: broker integration! Now, you can research, plan, AND execute a trade all on one platform.

Try StocksToTrade for 7 Full Days for just $7.00! StocksToTrade was built by traders for traders. Cut the amount of time, stress, and anxiety you experience behind the keyboard and only deal with the handful of real trade opportunities daily. Find the stocks that matter!

The STT scanners do the work for you, navigating through the market based on your imported watchlists. Then, when STT alerts you of a potential trade that meets all your criteria, instead of clicking over to a separate broker page, you can take action right from the platform!

It’s time to simplify your trading process. The new, updated StocksToTrade is compatible with a variety of different brokers — see if your brokers made the cut.

Looking for a New Broker?

More great news: We’ve teamed up with Tradier to offer StocksToTrade members a sweet deal: unlimited trades for just $14.99/month, with a $500 account minimum*. Boom.

Your success is important to us. With such a low monthly fee and unlimited trades, you’re practically covering the data service fee included in your subscription to our platform!

*Offer only available through your StocksToTrade application. Brokerage service provided by Tradier Brokerage Inc. (“TBI). TBI does not offer OTC Markets or OTC-BB trading

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should seek the advice of a qualified securities professional before making any investment,and investigate and fully understand any and all risks before investing.