Forex Brokers That Accept Mastercard 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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What are the various types of chart manipulation that brokers engage in?
- Slippage: You should be cautious if the slippage happens very frequently and ends up negative most of (if not all) the time.
- Spoofing: It consists of developing a fake interest in a currency pair by placing phony orders on them without the actual purpose of trading that currency in the future.
- False spikes: Unethical brokers make use of this feature by fabricating price surges in order to trick unsuspecting traders into placing orders.
- Stop hunting: They bring the prices to a point close to the stop loss order that forces you to exit the trade, after which they push the prices to move in the opposite direction.
- Front running: When a trader indicates that they intend to make an order, the broker immediately places their own order to profit from any changes in pricing.
Continue Reading at Can Brokers Manipulate Charts?
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
What are the top forex brokers for Malaysian trader?
These are some of the best Malaysian brokers to consider:
- Tickmil: LFSA with License Number MB/18/0028.
- FBS: LFSA with License Number MB/18/0028.
- IFC Market: LFSA with License Number MB/20/0049.
- ICM Market: LFSA with License Number MB/18/0029.
- Hirose: LFSA with License Number MB/15/0006.
- Deriv: LFSA with License Number MB/18/0024.
- XM Malaysia: Not regulated by the LFSA.
Continue Reading at Top Forex Brokers for Malaysian Traders
What criteria should a real broker possess in Nigeria?
Generally, there are five major factors to consider when choosing a broker and they are:
- Level of regulation: You need to know if the broker is subject to the regulations of the Central Bank of Nigeria and if they operate accordingly. A lack of regulation should be a red flag and set off alarm bells in your mind.
- Trading platform: How does the trading platform look? Is there a registration number on the website that can be verified? Is a demo account available where you can test strategies and other account features?
- Currency pairs being offered: What kind of currency pairs does the broker have on offer? Is it just the minor pairs or exotic pairs that have low liquidity? Are major pairs that have high liquidity and are more profitable available?
- Account features: how are charges and commissions deducted and what are the percentages? What kind of leverage and margin accounts are offered? And what are the terms of deposit and withdrawal?
- Customer service: Is the customer service reliable? Can they provide succinct answers to your inquiries?
Continue Reading at Identifying Fake Forex Brokers in Nigeria
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