Becoming a great trader is important to start a Forex business; however, choosing the best FX broker is also needed to be considered. Forex or Foreign Exchange successfully gains investors’ interest because the profit is bigger than the stock business. As the biggest business which can reach a profit of 7 billion USD per day, an investor must find a credible and trusted company before entering this business.
Several Criteria in Finding Good Brokers
Here, there are several criteria find finding the good one which can be helpful for you:
- Legal Brokers
Nowadays, there are so many irresponsible brokers who act and offer great investment with nonsense profit. To avoid it we have to choose the legal brokers in several aspects. the easiest way is by checking the business brokers to government agencies that deal with business brokers. Usually, it can be checked online on the official website so investors can find easily the status of certain brokers. Besides, for international brokers, we also can check by visiting the trading forum to investigate history.
- Credible Company Address
The best FX broker usually have a clear address of their company. The address must explain the street name, building number, and area so it can be found easily by google maps. The address itself is usually clearly mentioned on the broker’s profile official website. Otherwise, the fake broker’s company, they will not write the company address.
- Reachable Customer Service
It is understandable if the client may get confused with the trading activity because it happens 24 hours in a day. Customer service is the first thing client can reach if they find a certain problem. Customer service also needs to be available nonstop every Monday to Friday because clients from different parts of the world may call them. Not only by calling, customer service of great brokers needed to be available by live chat, e-mail, video call, or skype for clients.
- The acceptable minimum amount for investment
The best FX broker will never ask clients to invest a certain amount of money. Clients are allowed to put in a minimum deposit. We must be careful when brokers set a high minimum deposit to the client in the beginning. Even though each company has its own regulation about it, usually there is such a standard amount for this business.
- Offers free demo on the website
Before jump to the real market of Forex trading, brokers usually offer free demo and direction from the customer service about how to do the business. By checking the demo version of it, we also can find the brokers’ quality. So, it is important to use a trial or demo version to check and evaluate the check the transaction.
- Accessible website
Another point that can be the criteria of a trusted broker can be seen from its official website. The face brokers website usually provides a small amount of information on its website. Meanwhile. the best FX broker tend to make its website more professional by design and its features. Such a good design and features will help its client to find the information about the company profiles and its services.