Choose a Good Forex Broker for Your Trading Needs
WHY IS SELECTING THE RIGHT FOREX BROKER IMPORTANT? Even experienced traders may find it challenging to trade the financial markets when conditions are volatile. DailyFX, a world-leading news and analysis website, offers free analysis of the economic, political, and technical elements driving markets, assisting traders in finding opportunities.
Aside from the educational and other materials provided by DailyFX, another significant consideration for traders to consider is the platform provided by a broker.
Choosing a dependable and trustworthy forex broker that suits your needs and unique trading goals is critical, but how can you make the best decision in such a competitive market?
At the FX Week e-FX awards, IG was crowned the best retail trading platform for 2019. IG established its new US-based Forex Brokerage firm earlier this year, adding to its portfolio of regulated operations spanning five continents and supported by a workforce of over 1500 staff employees.
Although IG has had established operations in the US through subsidiaries such as DailyFX and Nadex, being able to give US citizens the ability to trade FX on the IG platform is a big step forward for the company.
With over 40 years of industry experience, IG is a regulated broker that offers low spreads, 24-hour service, and is publicly traded. These are some of the reasons why IG was recently named the Best Broker for Forex Trading by Investopedia.
To acquire access to the financial markets, you'll need a trustworthy broker. Continue reading to learn more about the variables to consider when selecting a broker.
FACTORS TO CONSIDER WHEN CHOOSING A BROKER
- Trusted/Established Provider
Look for a broker with a proven track record and longevity in the market so that your plan is your top priority when navigating the markets.
IG was founded in 1974 and is one of the major suppliers of leverage trading. They are a regulated broker with a global presence and a solid reputation for transparency and putting clients first.
The company is publicly traded and a member of the UK FTSE 250, with a market capitalisation of more than GBP 3.1 billion.
- World-Leading
Choose a broker who is at the forefront of innovation and is well regarded as an industry leader.
IG provides an internet trading platform as well as a mobile application for clients to easily access markets. Furthermore, IG offers the popular third-party trading platform, MetaTrader 4 (MT4), which provides access to a wide range of markets around the world that may be traded with the help of experienced advisors or a configurable automatic trading strategy.
IG is a world leader in innovation, and they are constantly searching for ways to improve and sustain their competitive advantage.
- Commissions and fees
Make certain that your broker's costs are upfront and competitive. IG has competitive Forex spreads, with an average of 0.9 pips for EUR/USD and margin requirements ranging from 2 to 5% depending on the pair transacted.
- Round-the-clock support
Get the help you require when you need it. IG provides 24-hour assistance, and customers can call or contact the helpdesk by email, Twitter, or a chat facility.
- Comprehensive Trader resources
Check to see if your broker provides free services like as analysis, education, and risk-management tools. With a wealth of knowledge from leading analysts, IG and DailyFX collaborate to deliver traders the most recent news and insights. DailyFX experts provide expert analysis of current market circumstances as well as instructional tools such as webinars, online courses, and interactive quizzes.
Most traders' primary - and sometimes sole - interest is following their 'advantage.' While this, coupled with good money management habits, is essential for navigating the markets, it is not the entire preparation.
As each trader embarks on this significant endeavour, it is critical not to overlook the most basic yet critical tasks, such as selecting the finest broker to access the markets.
Source : https://www.dailyfx.com/