Forex Brokers That Accept Wire Transfers Payment Method for Deposit and Withdrawal
Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
The downside of using wire transfer is it will take more time to accomplish the process. Usually, the process takes about 1 to 5 business days. This method also requires a decent cost. So, if you commit using this payment method, you need to be patient and consider not making frequent transactions.
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Why forex industry in Nigeria is dominated by international forex brokers?
Local brokerage executives and regular traders in Nigeria believe that forex traders will be safe trading within their own risk limits. Many traders in these countries feel safe when trading with foreign brokers.
They feel safe because the international brokers they use is a European broker and is regulated by European regulators. Despite this, trading experts in Nigeria believe that the notion would only apply to experienced traders; beginners would still be at high risk as they tend to be gullible.
Continue Reading at Is It Safe to Trade Forex in Nigeria?
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
Should you consider starting your own brokerage?
Starting your brokerage can be appealing for several reasons. It provides a way to stay involved in the trading industry, potentially offers better income predictability, and allows you to use your market knowledge to create a broker that caters to traders' needs.
Continue Reading at What You Need to Know Before Starting Your Own Brokerage
Why do brokers need to have a physical office?
Nowadays, it's easy to build a reputable website and manipulate the general overview of the website. As a result, scams in "online businesses" also pop out here and there.
That is why brokers with physical offices are more convincing.
Continue Reading at Beware the Trap of Money Game in Forex Brokers
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