Make or Break!
Noteworthy, it is one of the most important decisions who makes or breaks your life.
You probably hear that more than 90 percent of retail Forex traders lose their money despite having a good strategy and following the rules of money management.
Have you ever noticed that having scam broker or illegitimate broker add fuel to fire in this regard as they tempered your trades and alter in price action?
As a result, ruined your planning resulting you to empty-handed and swindled you.
Away from such Brokers!
It is very very important to have a good broker for this you should avoid such brokers who offering:-
higher leverage like 1.1000
No swap charges.
Exorbitant bonus or offering
Delaying in withdrawal with a filmy excuse.
Brokers tend to affiliate with a bigger group or registered somewhere which is anonymous like any Iceland.
Registered on location notorious for parking ill-gotten money or outlaw for money laundering.
Consequently, brokers who pretend to represent themselves as outsource whereas factually don’t have any legitimate placing.
Who offering limited ways of depositing money.
Must take into account!
Therefore, your broker is nothing but just a mediator between you and the liquidity provider.
Consequently commercial banks and liquidity providers tend to receive swap charges – if your position is retained for more than 24hours it is like charges against the leverage.
Noteworthy, you should consider choosing such brokers whom
Regulate from the country where the broker’s principal office stand.
It seems like if a broker belongs to the UK it must be regulated from FCA.
If from Australia it is to regulate from ASIC( Australian Securities and investment commission)
Hence, these are the regulatory bodies who protect and safeguard the rights of the trader in case of any dispute.
Brokers who offering almost every channel to accept money in terms of deposit& withdrawal.
Certainly, the above-said information is useful for choosing a legitimate broker.
Keep reviewing our site for having informative materials to become a smart trader and good learner.
have happy trading.