Forex Brokers That Accept Boleto Bancrio Payment Method for Deposit and Withdrawal

They are different in terms of service. A broker makes money by bringing together assets to buyers and sellers. Meanwhile, a market maker helps create a market for investors to buy or sell securities.

Continue Reading at What Does a Market Maker Do Behind You?

In order to avoid such a disadvantage, we have to know who the broker's liquidity providers are and their shareholders. Regrettably, it is impossible.

Few regulators require brokers to declare their liquidity providers' information publicly, and even fewer brokers are open about their shareholding information.

Continue Reading at Can ECN Brokers Cheat on You?

Generally, there are five major factors to consider when choosing a broker and they are:

1. Level of regulation: You need to know if the broker is subject to the regulations of the Central Bank of Nigeria and if they operate accordingly. A lack of regulation should be a red flag and set off alarm bells in your mind.
2. Trading platform: How does the trading platform look? Is there a registration number on the website that can be verified? Is a demo account available where you can test strategies and other account features?
3. Currency pairs being offered: What kind of currency pairs does the broker have on offer? Is it just the minor pairs or exotic pairs that have low liquidity? Are major pairs that have high liquidity and are more profitable available?
4. Account features: how are charges and commissions deducted and what are the percentages? What kind of leverage and margin accounts are offered? And what are the terms of deposit and withdrawal? 
5. Customer service: Is the customer service reliable? Can they provide succinct answers to your inquiries?

Continue Reading at Identifying Fake Forex Brokers in Nigeria

Please note that not all unregulated brokers are bad. There are many reasons why a broker decides to stay unregulated. For instance, some brokers might still be working towards obtaining a license from a regulator. It's worth mentioning that the cost of obtaining a license might be millions, so not all brokers can afford that from the start. Obtaining a license also takes a relatively long process, so the broker may be waiting for its license to be released.

Continue Reading at Do You Have to Trade with Regulated Brokers?