List of Growing Forex Brokers
Forex brokers with 5 years of experience or less offer more stability with the advantages from their initial years still remained. Their passing from the first two years proves their promising and competitive edge. At the same time, they normally want to maintain some attractive features for new clients to attract even more clients. Therefore, traders looking for beginner-friendly trading conditions are usually more adept with these kinds of brokers if they are afraid of depositing their money in some freshly launched brokers.
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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
How to rate brokers on their executions?
Essentially, there are four types of brokers based on their execution model, namely Market Makers, Electronic Communication Network (ECN), Direct Market Access (DMA), and Straight Through Processing (STP). Market Makers are called Dealing Desk brokers, while ECN, DMA, and STP are called No Dealing Desk (NDD) brokers. Using a Dealing Desk or NDD broker can affect the trader's trading cost.
There is no such thing as a "bad" execution model, but not all models are suitable for everyone. For beginners, STP brokers are highly recommended. These brokers act as a middleman, typically offers variable spreads, and don't charge commissions. Other benefits of trading with an STP broker are faster-filling orders, the freedom to avoid price quotes, less risk compared to other types of brokers, and the availability of live market trends.
Continue Reading at 5 Things to Rate in Forex Brokers Quality
What are the risk of scalping for brokers?
Several downsides of scalping make brokers forbid this practice, including the risk of overloading the servers. Aggressive scalpers can even open multiple positions within minutes. The broker's server can be overloaded if many scalpers perform that action several times daily.
Continue Reading at Why Do Brokers Restrict Scalping?
What criteria we can use to determine a good Indian broker?
- Does the broker support Indian local currency?
- Does the country's regulatory body license it?
- Is the Indian language on the website available?
- Does it have a physical office in India?
- Does it support local deposit and withdrawal options?
- Does it have an Indian phone number or email?
- Does it have a local webinar program or seminar for Indian traders?
- Does it provide bonus/promotion programs for Indian clients?
You don't have to look for a broker with all the characteristics above. In fact, brokers with 3-4 criteria are already sufficient for Indian traders; just make sure the brokers at least support INR account currency.
Continue Reading at Top Forex Brokers in India
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