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.
Forex Trading with a trusted broker is a key factor in securing your profit. Fair forex brokers will transmit your requested market order without any intervention, which means no re-quote or fake slippage. In turn, this fair forex trading condition will make each pip (profit) gain more transparent and consistent.
Normally, a regulated broker will have a license number. Traders can check out the legitimacy of the number through the official website of the said regulator. If the number doesn't exist or is registered under a completely different company, there is a chance that it might be a scam.
Low spread: The spread will bring a very significant impact as scalpers could trade multiple positions during a short period of time.
Complete trading tools: Scalpers are always more focused on the action and reaction pattern of the price movement from time to time. Therefore, they need a complete and qualified technical analysis feature.
Allow scalping: Scalping can be restricted or not allowed in some brokers, so it's important to make sure that your broker has no certain conditions on the strategy.
There are several ways you can determine whether a broker is problematic or not. After all, there are some conditions that may not be the broker's fault. Here are the ways you can do:
Determine the problem first. Is it really the broker's fault, or are there other factors involved?
Make sure you have followed the rules. If you did, but still encounter issues, then it might be the broker that is the cause.
Ask the broker's customer support, with some proofs.
Consult with other traders.
If it's proven that the broker is the root of the problem, take immediate action and look for another reliable broker.