Tips for Choosing the Right Broker in Trading

There are several things that need to be taken into consideration in choosing a forex broker to support our trading. Because the broker is our work partner later. And we need to know what are the advantages and disadvantages of the broker.

Here are tips on how to choose a broker that you can use for consideration.

1. Have a Demo Account

Good forex brokers usually have a demo account. So that novice traders can freely try and practice taking positions without fear of losing money. This demo account can also be used to practice using the tools used on the platform.

So for prospective traders, take advantage of the facilities provided by the broker to practice until they can and are ready to use a real account.

2. Spread Size

Spread is the difference between the selling price in the market and the selling price at the broker. This spread is an advantage of the broker itself. The size of this spread is determined by the broker itself. Sometimes there are brokers who provide small spreads but take a commission from each transaction.

Then a good broker has what kind of spread? certainly not too far from the market price and do not take a commission from each of our transactions.

3. Regulation

A good broker must have good regulations and have been approved by institutions such as BAPPEBTI. However, not all brokers have BAPPEBTI legality, but they are good and usable brokers. This is because they have obtained permission from international institutions in their respective countries.

4. Help Service

Of course, our trading will not always be smooth and run well. Therefore, each broker will provide assistance services that can be accessed via email, telephone and chat services on their official website.

This support is of course for the best service for potential investors.

5. Security

As explained above, a good broker has been recognized by official institutions such as BAPPEBTI. There are many such institutions in the world. The following are the institutions that provide licenses to brokers in the world.

Indonesia: BAPPEBTI, BBJ and KBI

United States: NFA and CFTC

England: FCA

Germany: BaFIN

France: AMF

Switzerland: SFBC

But usually good brokers are also tested by time. The point is that the company has survived long enough, it could be in a period of 10 years and above.

6. Withdrawal and Deposit

This is one of the most crucial in the trading business. Because this is closely related to the continuity of one's trading. The ease of withdrawing and depositing funds is usually supported by the integration of the broker with local banks in Indonesia.

Before that for novice traders, watch this video so that your trading is safer.


Note:

For further information, you can call 03315106055.
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