Forex Brokers in Vietnam
Recognizing the best forex brokers is not just a matter of making sure of its security and basic trading features. You may need to compare some of them to have more clarity when browsing through some information on forex brokers.
The table below provides what may be necessary for your journey in finding the most ideal broker. Remember to always put your conditions at the front when choosing a forex broker.
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| Score | Broker | Country | Regulation | Min Deposit | Max Leverage |
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If you are interested to open an account in one of the brokers in the list above, make sure to try the forex demo account before proceeding to register in the live account.
Additional FAQ
What does registered broker mean?
If a broker is "registered", that means that the broker's registered as a company in a certain country and has one or more offices in that country. In this category, the broker does not necessarily have a license to operate as a broker and is usually not actively monitored by the country's regulatory body. The company's operations are also not always centered on the main office address but it could be outsourced to other areas.
Continue Reading at Forex Regulation Insights: Defining Your Broker's Status
How to consider trading instruments when rating brokers?
A good forex broker must offer at least major forex pairings, such as EUR/USD, GBP/USD, etc. These are the most common pairs to trade and great choices for all types of traders, so this is one of the standard qualities to be considered in a broker. If you're interested in other assets aside from forex, go for multi-asset brokers. Stocks and metals are pretty common among brokers these days, but the more assets they offer, the better.
It is worth noting that while a big number of tradable instruments can be a nice feature to offer, keep in mind that this aspect does not guarantee the broker's success. The reason is that not all clients are particularly searching for brokers with loads of varieties. Some of them might even find it a bit overwhelming. This is why there are brokers that remain popular among traders despite their limited choices of assets or currency pairs.
Continue Reading at 5 Things to Rate in Forex Brokers Quality
How to identify honest brokers?
In general, compared to scam brokers, honest brokers are more clear and straightforward in most aspects of their facilities. Other than that, some of the more specific characteristics in an honest broker are:
- Clear regulations and office addresses.
- Responsive customer support, at least in the working days.
- The trading facilities provided are transparent and synchronous.
- The website is well-maintained, updated, and equipped with a disclaimer that the profit in forex trading is proportional to the risk.
- The broker is recommended by other traders or trusted sources. For example, the regulation can be cross-checked, the name often quoted by famous news agencies or positive reviews from clients.
- Withdrawals are processed with minimum or no difficulties.
Continue Reading at 4 Common Types of Forex Broker Frauds
What does authorized broker mean?
If a broker's "authorized", that means it has the authorization to operate at a certain capacity in a country, but not necessarily as a forex broker. The actual license may not be for a brokerage business, but it could eligible only for educational institutions, analysts, fund management, or others.
Continue Reading at Forex Regulation Insights: Defining Your Broker's Status
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