Forex Brokers That Accept Bank Wire Payment Method for Deposit and Withdrawal
Recognizing the best forex brokers is not just a matter of identity and basic trading needs. 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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Is it true that all brokers are basically market makers?
The majority of forex brokers are hybrids that provide market maker, STP, and ECN conditions all at once. Even if brokers implement the STP/ECN model, their liquidity providers are still market makers.
Thus, it is not wrong to say that all forex brokers are basically "market makers". Therefore, based on this label, we cannot determine a broker's quality.
Continue Reading at Are Market Maker Brokers Always Bad?
Why do some brokers offer extremely high leverage?
Forex brokers, especially market makers are typically aware that most newbies are inexperienced, and there's a high chance that they're going to misuse the leverage. Thus, they usually offer high leverage to attract new clients.
In other words, many market makers are using high leverage as a part of their marketing offers. They'd invite you to take a lot of risks, knowing that it's not a good move to do especially if you're starting.
Continue Reading at 5 Signs Your Broker Trades Against You
What are forex brokers' terms on scalping?
Because of its nature, many brokers set some definitions and limitations for applying a scalping strategy. A forex broker may arrange terms such as the minimum pips for every stop loss and profit target, the minimum duration of a holding position, or other terms related to scalping. Although most brokers now allow their clients to apply the scalping method freely, some prohibit the strategy strictly.
Furthermore, some brokers may say that they allow scalping but then set some limitations for clients' orders that are suspected of practicing scalping. This usually results in brokers' intervention, resulting in clients' loss. In other words, some brokers may try to discourage scalping indirectly by using hidden strategies that put their clients at a disadvantage.
Continue Reading at The Secrets of Successful Scalping Strategy
What are the valid documents that can be used as evidence of a scam broker?
Collect all relevant documents, communications, and transaction records related to the scam.
Some evidence you can gather are:
- Screenshot of your trades
- Communication records
- Account statements
- Transaction history
- Terms and conditions of your broker
- Testimonials from other traders
Continue Reading at How to Recover from Forex Broker Scams
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