Which broker should I open an account with?
Every year, dozens of brokerage companies offering online trading services appear on the Forex market. Among all this variety, it is not difficult to get confused, so the most common question among beginners is the following: "which broker is better to open an account with?". To answer this question, you need to have a good understanding of the quality of services provided, because now in the era of Internet development, it is quite easy to inflate your reputation to unimaginable proportions, but in fact you do not get any quality services or money.
Reliable Forex brokers with a minimum Deposit
Reliability criteria are quite subjective. For some, a prerequisite for the reliability of a broker is the availability of a license, preferably FCA, or even better, a banking license, of course, in foreign Bank brokers, for example, from Switzerland or Germany. For others, the criterion of reliability is the presence of a high reputation in the market and extensive experience (at least 10 years). Of course, it is important to take everything into account, but it should be understood that such titans with banking licenses and a high reputation often offer less favorable trading conditions and inflated minimum Deposit requirements. And where do novice traders get a lot of capital?
We believe that the following two conditions must be met for successful Forex trading:
- High speed of transaction execution without requotes;
- Quick withdrawal of funds.
Both of these conditions are met if the broker has an ECN account with STP / NDD technology. If a broker has an ECN account, it means that it brings transactions to the interbank market, as a result of which you get the best prices from the largest liquidity providers (banks) with minimal spread and high execution speed. In addition, if the broker andif you use the STP / NDD model, it reduces the probability that you will come across a market maker or simply a "kitchen" that earns money on the deposits of losing traders. This means that the broker will not put obstacles in your way, and you can safely withdraw your honestly earned money.
Thus, even a young brokerage company that has an ECN account and offers more favorable trading conditions may be more reliable than experienced brokers. To finally decide which broker is best to open an account with, check out our rating of Forex brokers with a detailed overview of each company and real reviews of traders.