ECN broker helps their client to be straight connected to the ECN market's participants, including banks, hedge funds, brokers, even traders. ECN's clients are also possible to see the DOM (Depth of Market) from other participants. However, this broker usually asks their clients to pay off a large amount of deposit and commission. A list below will show you some ECN brokers to be considered.
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Each broker imposes different policies regarding the PayPal service. FxPro for example, would charge the clients a deposit fee of 2.7% and a processing time of at least 10 minutes, whereas for withdrawal, it is free of commission but takes at least 1 working day to process.
Continue Reading at 5 Top E-Payments for Forex Deposit and Withdrawal
Loyalty programs can keep traders staying and actively trading with their broker. Basically, the broker will give their clients rewards in many forms based on the points they accumulated through trading.
Some of the popular methods are cash rewards, gifts, lower spreads, bonuses, commissions, and many more. The idea is to keep the trader satisfied and continue to invest their money in the broker.
Continue Reading at Trade Now and Get Rewards from TMGM Loyalty Program
Here's what it means to be an ASIC-licensed forex broker currently:
- All ASIC-licensed forex brokers are required to hold at least AUD1 million in operating capital.
- Like FCA, ASIC will monitor the company continuously to ensure segregation of client funds, periodical report and audit, efficient management including AML and KYC procedures, and proper risk disclosure for clients.
- ASIC Forex brokers are not allowed to have any conflict of interest with their customers. This is the reason why Australian Forex brokers usually offer direct market access through ECN or STP facilities.
- ASIC allows leverage for forex and CFD trading up to 30:1.
Continue Reading at UK FCA vs ASIC, Which Forex Regulator is More Reliable?
As a general guideline, using a demo account for at least a few weeks can give traders a reasonable idea of a broker's quality. However, it's essential to remember that a demo account may not fully replicate the experience of live trading, as there can be differences in order execution, slippage, and liquidity between the two environments.
Continue Reading at How Long Should You Trade on Demo Account?
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