InvestingViews forex broker and their checklist of the best trading conditions.
A broker is a link between an investor and an exchange
The choice of a broker is a question that worries not only beginners, but also experienced investors. Changes in trading plans, market opportunities and quality of service are forcing investors to look for more favorable conditions. We have compiled this checklist with the help of InvestingViews Forex experts.
Traders are people who increase their income on currency speculation by buying at a low price and selling when it rises, or, conversely, trading down. But they do not have the opportunity to independently enter Forex, and they do it through a mediator, which is a brokerage company.
Here are the main functions that a broker performs:
introduces client's operations to the interbank market;
executes orders for deals - ensures the execution of orders;
provides a trading platform for online trading (most often Metatrader 4 or Metatrader 5, c-trader, UTIP).
provides deposit and withdrawal of funds from the client's account.
The choice of a Forex broker should be made based on considerations of reliability, trading conditions and availability. Next, InvestingViews Forex experts will consider the main criteria on the basis of which you can make a decision on choosing a Forex broker.
Money security is the first thing to think about when choosing a broker.
If you are new to investing, it is best to choose a broker who can help you figure it out. For example, the InvestingViews broker offers a tutorial, and its InvestingViews.net website is so simple and straightforward that you can figure it out for yourself.
When planning to trade online, check with your broker to find out what it takes to do this. Is it possible to make transactions through the site without installing additional software, or do you have to download a special program to your computer - a trading terminal? Study the system requirements, find out if it is technically possible to install a trading terminal on your computer. For example, InvestingViews broker offers a web terminal, a PC program and a mobile application.
To execute transactions for buying and selling of securities, investors often use the broker's mobile application, for example, InvestingViews broker provides it both for iOs and Android. This is also evidenced by the results of an expert survey: more than 70% of respondents traded through the application.
If you also plan to make transactions with your phone, pay attention to the functionality and stability of the broker software.
Technical support service
No matter how good the application is, users will get a few issues sooner or later anyway. In this case they can contact the technical support service. Unfortunately, not all brokers are quick to respond to user requests. According to our research, in most cases the InvestingViews Forex broker responds quickly, with a maximum of 2 hours.
If you do not know how to work with databases and you do not plan to keep records of transactions on third-party services, pay attention to the function of recording transactions in the broker's software. Each broker has such options, but the calculation methodology and detailing may differ.
It is useful to learn how to track financial transactions yourself. According to the study, about 30% of investors at InvestingViews do not check their trade data.
Read the risk notice before signing an agreement with a broker. This document details why you can lose money when trading the securities market. It’s important to keep in mind that the market sometimes is unpredictable, because that can cost you pretty penny.
Broker gets its profits when you get yours, so company’s extremely interested in a number of your deals. You can use various analytical tools, including regular market reports. In some cases, the investor can use the ideas of the broker and make deals according to the analysts’ recommendations.
InvestingViews Forex Broker Advice: Key Points of Successful Trading
Test Your Trading Strategy - before you enter the real Forex market, you need to practice a little. Come up with your system of several steps that you need to follow in order to make a profitable trade.
Use stop loss - if you have not guessed the direction of price movement, stop loss level will help you to control losses. This limiter will help you avoid draining of your deposit.
InvestingViews Forex broker recommends constantly improving your strategy. First of all, open deals on a small account, and then go to a real account, but only with positive statistics. So you will feel confident in the Forex market and protect yourself from losing your deposit. This way, with all the instruments at hand, you will be able to increase your capital.