Thursday, March 23, 2017
What is forex broker?
 
"Interested in Forex? Need to choose between the hundreds of Forex brokers out there? Have no fear! The Definitive Guide to Forex Brokers is here to present you with the most comprehensive overview of what Forex brokers are about and what they can do for you."
Since online Forex trading first broke out in the early 2000’s there has been a steady rise in the number of Forex brokers out there offering their services to a constantly growing number of traders.
With so many brokers out there, we’ve noticed that it has become increasingly hard to distinguish among them and to determine which one provides the best solution to specific trader needs, so we’ve decided to create The Definitive Guide to Forex Brokers to help make the picture a little clearer.
With each chapter of this guide we will introduce you to a set of criteria by which you can judge whether a Forex broker is right for you or not, and hopefully enable you to make a more informed choice.
But before we get to that, let’s start from the basics…

What is a Forex broker?

Forex brokers are your entryway into the currency markets. On the most basic level, a Forex broker provides you with a trading account which you can use to speculate on global currency movements. That is what all Forex brokers have in common; after that there are a thousand ways in which brokers can differ from each other.
From their selection of currencies, to their fees structure, to even the basic way in which they place your orders to sell and buy currencies, Forex brokers come in all shapes and sizes.
It is our mission in writing this guide to provide you with the tools to understand these differences and make the best choice of Forex broker for you.
Mobile forex have also mobile trading platforms to trade foreign exchange and gain profit from anywhere on the globe.

Why do I need a Forex broker?

And that’s where the Forex Broker comes in. You might think that you can easily arrange this type of deal by yourself. But consider the fact that in order to make any kind of profit on a Forex transaction, you have to exchange thousands, tens of thousands and even hundreds of thousands of currency units.
That complicates things a little, doesn’t it?
Now to that, add the fact that the Foreign Exchange market sees over $4 trillion worth of currency change hands every day. It would be impossible for any individual trader to find a buyer/seller at the best price among all that noise.
And that’s where the Forex Broker comes in.
Not only do Forex brokers arrange the trade, but they can also leverage your trade so you don’t have to put all your savings into one Forex investment, and do it for a much smaller fee than, for example, a bank.

Ready to discover how to find the Forex broker for you? Just follow the Green brick road!

Forex brokers are important to gain high profits!
 
The Evolution of Forex Brokers
To understand how Forex brokers function, it’s useful to take a look at how we got to where we are today. How did offline Forex trading work? What happened when Forex brokers went online? How did social media affect Forex brokers? All this and more will be covered in this chapter.
 
Forex Broker Types
What’s the difference between a Market Maker an STP and an ECN broker? Why do some brokers have a dealing desk while others don’t? The type of broker you end up going with can make a huge impact on your trading success and this chapter will talk about the advantages and disadvantages of each.
 
Forex Trading Platforms
One of the main advantages of using online Forex Brokers is that they provide you with trading software which enables you to access the market and manage your trades independently. These platform range from bare bones simplicity to overwhelming sophistication, and in this chapter we’ll take a look at what makes a good Forex trading platform.
 
Broker Tools and Services
In addition to fulfilling basic brokerage functions, Forex brokers can offer a wide variety of tools and services. From Forex signals, to educational resources, to demo accounts and personal account managers, it’s up to you to decide which service or tool you absolutely can’t do without. In order to do so, this chapter will give you a comprehensive overview of all the extras a broker can offer you.
 
Spreads and commissions
All decent Forex brokers make their money off of commissions or spreads. In this chapter we will discover everything about the various fees brokers charge: what is the different between fixed spreads and real-time spreads? What are overnight and over the weekend rollover fees? And how can you reduce costs? Find out now.
 
Forex Broker Regulations
Regulation is a word that gets thrown around a lot in relation to Forex brokers, but few people actually understand the function and importance of regulations, as well as the difference between various regulatory bodies. In this chapter we present an overview of all existing brokers regulations, their demands, how they may limit your Forex broker, and how they protect you, the trader.
 
Social Forex Brokers
In recent years many Forex Brokers have embraced the social approach to finance by creating social trading networks. Each social trading network is different in what kind of interactions it offers, what information traders exchange and how that information can be implemented. This chapter will take you through the range of what a social Forex Broker can offer you.
 
Opening an account
Opening a Forex Broker account can be quick and easy or it can be frustrating and time consuming, depending on the broker. Learn what to expect when opening an account, how soon you can start trading , what documents may be requested, how to make deposits and withdrawals, how to work with an account manager and more in this chapter.
 
Choosing the Best Forex Brokers
Now that you’re more familiar with the world of Forex Brokers, it’s time to get to the crux of the matter: choosing the best Forex Broker for you. Discover the most important parameters to look for when choosing a Forex Broker: Which broker type is best? What to look for in regulation? What are reasonable spreads and fees? What kind of instruments does the broker offer? What kind of support do you need? All this and more in just one succinct chapter!
Forex Brokers Glossary
Confused about some of the terms you may have heard associated with Forex Brokers? Have no fear, our comprehensive Forex Brokers glossary is here!
GET THE 1 YEAR PREMIUM SERVICE FOR FREE!