Best forex brokers or Forex trading is becoming undeniably more and more popular these days. Forex trading has become a very good way to make money for both people who want to earn quick and people who need a sustainable income.
Of course, there are risks. But you can avoid those risks just simply by knowing what you’re doing. Yes, forex trading will be safer if you pay attention to the most important factors in this industry.
All traders are highly eager to learn what regulation is in the forex trading because this is the main point of credibility. In order to decide whether a broker is reliable, you should check their forex regulation.
In other words, regulations or licenses can protect you. For Asian traders and forex broker, you should consider trusted regulations such as CySEC and FCA.
It is not easy to get regulations from authorized organizations. Brokers have to meet all standards about the leverage, minimum deposit, and so on.
I have just seen somewhere a very interesting slogan which is “Customer is King. King never bargains.
Traders do not bargain I think, but they will choose brokers with the low cost. Do you? Trading cost means deposit, commission, and spread. They are ratios to be compared among brokers.
Through my friend’s case, I have to focus on customer support in the first of all. If you are a broker, you should put yourselves at the position of your customers to understand. Do you want to pay for bad service?
The answer is never and never. Your trading cost is at the bottom and your regulations are a dozen, so customers will stay with you without assistance? No, traders have a lot of choices with all they need.
You will be on the path of the end if you insist on that opinion. It is the basic rule of business.
Customer services help brokers not only to keep their operation stable but to attract more customers.
We all need people who will give us feedback. That’s how we improve, Bill Gates said. How you can develop and move forward if you do not listen to your customers? Surely, they will turn back to you soon.
From all my experience with more than 30 brokers that I have traded, the lesson can be learned from is that not all the brokers are excellent and it takes some comparisons:
- Their regulation and principles that rules the trading method and policy to the clients
- How brokers organize the trading condition for traders, if they are good enough to give traders the best service.
- Number of account types.
Once you know all these important factors, you’ll know where to look when you start forex trading. However, to sharpen your skills and instinct, you should practice trading small money before going big.