Forex Brokers Giving Interest on Funds
There are many ways a forex broker gives back to clients. Bonuses, promotions, referring rewards, and other related credits are common among them. However, what if you can get interest just by maintaining balance in your trading account? As keeping some balance in the account is already a basic trading activity, you don't have to put in extra effort or cost to get the interest.
If you ever wonder how such advantages exist and which forex brokers opt to "pay" their clients by giving interest on funds, here are some names for your recommendation.
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What are the key features that should not be changed suddenly by brokers?
When anything is described as "subject to change," there is a potential that you may incur more losses in terms of money, time, and effort.
- Your brokerage company may execute trades with a different model than what they are supposed to.
- The platform changes. You are used to using MT4. All of sudden, you have no choice but to move to MT5.
- The stop-out level is increased. A higher stop-out level will cause you greater loss as it will let your losing position run its course until you have nothing left in the account.
- Changes in spread and/or commission. Anything related to trading costs should be a sensitive matter as it influences one's profitability in the long run.
- Leverages are lowered for no reason. This limitation may result in higher margin requirements and thus inflict on any trader who are used to trade with high leverage.
- Your pair leaves you.
- Obvious stop hunts. This often happens in market maker brokers who trade against the traders. In this case, you will find your stop losses getting executed just before the price moves in your favor.
Continue Reading at Broker Red Flags: Signs You Should Leave Your Broker
How to avoid issues related to broker bonuses?
Here are some tips for avoiding problems with Forex bonuses:
- Read the terms and conditions.
- Put your strategy first.
- Focus on profit.
- Try trading contests.
- Be a smart trader.
Continue Reading at How to Successfully Use a Forex Broker Bonus
How do brokers typically provide PayPal deposits and withdrawals?
Some brokers offer PayPal because it is considered a trusted e-wallet company with high-quality services and many internet users are already familiar with it. Among those brokers are FxPro and eToro.
Each broker imposes different policies regarding the PayPal service. FxPro for example, would charge the clients a deposit fee of 2.7% and a processing time of at least 10 minutes, whereas for withdrawal, it is free of commission but takes at least 1 working day to process.
Continue Reading at 5 Top E-Payments for Forex Deposit and Withdrawal
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?