Highest Trustpilot Rating Forex Brokers

A good broker must be able to ensure the safety of the client's funds. Aside from obtaining licenses from trusted authorities, it's also important to have preventive measures that could save traders from doom. One of the easiest examples is negative balance protection, which ensures that traders are never in debt with their broker. In other words, the trader's balance will never be negative. This is why it's an important aspect that every good broker must have.

Some traders may not find this feature that significant, but it's something that many people would be grateful for. The truth is that there have been many cases where traders ended up owing money to their brokers. To prevent a repetition of similar events, the availability of negative balance protection can be very helpful.

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A good forex broker must offer at least major forex pairings, such as EUR/USD, GBP/USD, etc. These are the most common pairs to trade and great choices for all types of traders, so this is one of the standard qualities to be considered in a broker. If you're interested in other assets aside from forex, go for multi-asset brokers. Stocks and metals are pretty common among brokers these days, but the more assets they offer, the better.

It is worth noting that while a big number of tradable instruments can be a nice feature to offer, keep in mind that this aspect does not guarantee the broker's success. The reason is that not all clients are particularly searching for brokers with loads of varieties. Some of them might even find it a bit overwhelming. This is why there are brokers that remain popular among traders despite their limited choices of assets or currency pairs.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

Trading conditions are a great way to start because they are basically the foundation of the broker service itself. This includes the amount of trading spreads and commissions, leverages, and more. Trading conditions can directly impact the trader's overall trading cost, making it a critical aspect of any broker's selling value. Great pricing must be one of the top priorities to offer to potential clients, especially with the cut-throat competition between brokers these days.

Moreover, since standard regulations are starting to take effect, regulated brokers can no longer offer fantastic bonuses or exaggerated promises of high returns. Instead, they can offer low fees to reduce the trader's cost, combined with a transparent trading ecosystem and no hidden fees.

Continue Reading at 5 Things to Rate in Forex Brokers Quality

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