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Forex Brokers Guide

Forex Brokers Guide

What makes the ideal Forex Broker?

Choosing the right Forex broker is very important when trading Forex. As the Foreign Exchange market has grown enormously during the past two decades, hundreds of new brokerage firms have appeared. Some of these companies are decent and good for trading, some others not. This article is about how to evaluate a Forex brokerage company.

Different trading styles create different brokerage needs, and therefore, before opening a new account it is wise to define your trading style according to your capabilities, your available time for trading, and most importantly your risk appetite.

(1) SAFETY OF MONEY

• FOREX STYLES: ALL TRADING STYLES
• IMPORTANCE: 10/10

1.1 Regulation

The safety of money when trading online is the top issue for any wise trader. An honest Forex broker should apply rules and policies to ensure the integrity of its operations. It’s highly recommended to choose only among Forex brokers who are regulated by trusted regulatory bodies. Regulators monitor and control all their listed Forex brokers and can impose penalties in case these brokers are misbehaving. Furthermore, traders who are scammed can make an official complaint to the regulator, and if they are proven right, they can take their money back. » More about regulators

1.2 Years of Operation

Many years in the industry can guarantee to a certain extent that a Forex broker runs a successful business model. Opening an account with a Forex broker that is already in the market for at least 3 years can add extra levels of credibility to your selection. Avoid always Forex companies in their first year of foundation.

1.3 Bank Account Segregation

Client bank account segregation means that the client’s funds are segregated from the company’s funds and it is also an important issue for the integrity and clarity of any Forex Broker’s operations.

1.4 In the Case of a Broker's Insolvency

Some Forex brokers are insured in the case of insolvency:

• In Switzerland, FINMA covers up to CHF 100,000 per client » Dukascopy Bank
• In the UK, the Financial Services Compensation Scheme (FSCS) pays up to GBP 50,000 per client
• In Cyprus, the CIF covers up to EUR 20,000 per client

Read more: Forex Brokers Guide

Forex Brokers offering a Free VPS Hosting

A VPS operates as a virtual machine offering reliable and fast execution, and unstoppable operation 24x7x365 when applying automated-trading strategies. ► What is Forex VPS Hosting?

VPS hosting offers a combination of hardware and software that can be accessed remotely by any other computer via the internet.

Forex Brokers Offering a Free VPS to Traders

Quite a few Forex brokers offer free VPS hosting to their customers usually based on monthly-volume requirements.

Read more: Forex Brokers offering a Free VPS Hosting