List of New Forex Brokers
This list contains forex brokers with 2 years of experience or less. Considered as the newcomers, these forex brokers may lack in experience. However, there are certain advantages that can only be obtained from such brokers, namely their strong commitment to provide the best service to gain and maintain new clients. The efforts are usually realized through many kinds of endeavors, from offering competitive trading conditions to withholding attractive promotions.
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How should we rate brokers on their trading platforms?
Since forex brokers mainly offer online trading, it is crucial for them to have the latest technology. First and foremost, the trading platforms must be accessible and affordable for all traders. It is also a great idea to provide additional technical indicators and trading tools to help clients take their trades to the next level.
MetaTrader 4 and MetaTrader 5 are the most popular trading platforms at the moment. As such, many brokers are content with offering these two options. However, we should also note that these days, there are loads of other available trading platforms in the market. Some of them are entirely unique and offer innovative features that are often found absent on the more popular platforms. Therefore, providing a wider list of platforms can attract more clients, especially those who are looking for specific, advanced trading tools and analysis.
Continue Reading at 5 Things to Rate in Forex Brokers Quality
How do bucket shop brokers work?
Unlike fly-by-night brokers and pyramid schemes, bucket shops do have functioning trading activities, albeit for malicious intents.
Bucketing itself refers to practices by which brokers illegally generate profits from their clients' trades, such as frequent price misquotes or re-quotes,s in order executions, etc.
For example, a trader executes a buy position of EUR/USD at 0.8294. The broker confirms the transaction has been made while the truth is the order will be executed later when the price is at 0.8298.
The difference of 4 pips is kept by the broker as their own profit; a fact that will never be revealed to the trader.
Continue Reading at Top Blacklisted Forex Brokers You Should Avoid
How do ECN brokers make a profit?
True ECN brokers do not profit from spreads but charge commission fees on each traded lot. The spreads on ECN accounts fluctuate based on market conditions and align with prices provided by liquidity providers. In the case of ECN brokers, the commission fee is more critical than the spread.
Continue Reading at ECN vs Fixed Spread, Which Type is Better?
Why do brokers manipulate charts?
Brokers may manipulate charts for various reasons, although it's important to note that not all brokers engage in such practices, and many operate with integrity. When manipulation of charts does occur, some potential reasons include:
- Generate additional fees or profits.
- Manage liquidity in the market.
- Brokers operating in unregulated or poorly regulated markets may engage in chart manipulation more frequently because they face fewer consequences.
Continue Reading at Can Brokers Manipulate Charts?
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