Online Trading Broker
Online Trading Broker, Internet has given all the resources for individual trader to perform trading but one basic rule still applies:
Trader needs a broker so he can perform trading better. Choosing the right broker is indeed able to give headache to beginner trader like you. Here are several things that you need to consider when you choose trading broker.
Security You must choose legitimate broker. Do not ever hand over your hard-earned money before checking the legitimacy of the broker. Checking the legitimacy of a broker is not difficult.
Member of Regulatory Agency
Legit broker always becomes a member of Regulatory Agency in its region. If not listed as a member of Regulatory Agency, the broker is a scam. Transaction Cost Every single trade that you make is subject to transaction cost so searching for broker with low transaction cost is mandatory.
However, security should not be sacrificed only to get low transaction cost. Good balance between security and low transaction cost is better.
Deposit and Withdrawal,the broker needs to give assurance that deposit and withdrawal processes are fast and easy. The money in your account is yours so you have full right to withdraw the money at any time.
Normal market conditions
Your broker only helps you to facilitate trading and he does not have right to hold your money. Trading Platform Once you choose to trade with a broker, it means you trade using the broker’s trading platform. You need to ensure that the trading platform is stable and user friendly.
The trading platform should also give all tools and data that you need to support your trading. Execution Under normal market conditions, it is mandatory for broker to suggest you in the best possible price for every trade. Broker’s suggestion is vital to win the trade.
Customer Service, Although broker knows more about trading than trader, broker is not perfect. Good broker always provides good customer support whenever problem arises. Reviews from other traders are also helpful to determine the credibility of online trading broker.
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