SwissUnion reviews and advice for traders from broker
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Actually, the main difficulty when choosing a forex broker is to specify which trading parameters you need. Every brokerage company has both strengths and weaknesses, and it's up to you to decide which ones are critical and which ones can be neglected.
In this material, we will learn how to look for a good broker and analyze your investment strategy. SwissUnion reviews about this broker we take as an example.
First of all, make a list of forex brokers you are interested in. Then compare forex brokers on a number of criteria.
Secondly, select a few brokers that appeal to you the most and open demo accounts with them to give it a try.
Once a balanced solution is formed, it's time to start trading for real: now you have all the necessary knowledge to register a real account with a forex broker.
SwissUnion reviews: 1. Company type
Retail Forex trading is offered by various types of companies: brokers, dealers, ECN brokers.
Forex brokers are actually intermediaries between forex traders and market makers. They are also classified as NDD (Non Dealing Desk), which means that customer orders are processed automatically, without the intervention of any dealing desk.
SwissUnion.net reviews say that only by being well versed in the types of companies, you can make the right choice of your own.
SwissUnion.net review: 2. Trading platforms
Traders can choose which hardware and trading applications are best for them. Some traders opt for web apps, while others stick with desktop software. Choosing the right trading platform is important for traders based on their trading preferences.
Any trading platform that comes to the attention of potential clients must be reliable enough to avoid frequent freezes or system crashes that can occur during global news or events. Therefore, we consider reliability as the #1 feature of any platform, while design and hardware go further. This is especially important for aggressive traders (intraday or scalpers) who make frequent trades over long sessions and at any time over a 24 hour period.
The trading platform must be able to quickly place orders or close a trade.
One-click operations are beneficial when trading and managing limits, stop losses, etc. Many platforms also offer benefits such as additional instruments and charts.
SwissUnion.net review: 3. Types of trading accounts
Trading accounts depend on the number of traded lots, so they are divided into several types: standard, mini, micro accounts. A standard lot consists of 100,000 units, a mini-account is ten times smaller (10,000 units), and a micro-account is hundreds of times smaller and is only 1000 units. And with some brokers, you can set up an individual account size.
Low capital accounts are mainly addressed to forex beginners who have recently entered the forex market and want to try their hand at currency trading without risking their wealth.
SwissUnion reviews: 4. Fees and commissions
The amount of fees and commissions claimed by a forex broker is sometimes critical to the trader who makes the choice with which forex company to trade with. With some market makers, you may find that they do not charge commissions and commissions. In this case, they make money on spreads, so check how many pips should be paid to the broker per trade.
Regardless of whether fees and commissions are charged or not, the golden rule is to do a preliminary investigation of the broker and find out if the selected company has a good reputation in the foreign exchange market and whether it has connections with well-established banks to provide traders with any amount of liquidity they need. ...
SwissUnion reviews say that the company meets all the criteria for a decent and reliable company for cooperation.
What do customers say:
“SwissUnion has a service at a height unattainable for other brokers. But its main advantage for me is transparency. This is not a black box, you have a good idea of what you pay commissions for, and yes - you are not deceived, because you yourself see everything. Great, this is exactly the broker I need. ”
“Basically, I use a mobile application for trading, because I constantly ride somewhere, and my computer is stationary. SwissUnion has a good one in general, with a clear interface, practically does not buggy and with convenient customizable push notifications, such that you will definitely not miss the increase to the values you need. In my opinion, one of the most comfortable brokers to work with ”
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