The foreign exchange market with a $4 trillion traded every day is the biggest financial market worldwide. Its high liquidity and non-stop trading makes this market an attractive place to invest your capital in order to get the highest margins. You can gain access to it by a forex broker, whose target is to seek for a best offer supplying the deal arranged by their customers. Here are a few tips for finding your ideal place to open a forex account.
Although there is an extremely high amount of sites to be found on the Internet offering such services, you should only trust a regulated forex broker. A regulatory body in each country has a list of registered institutions which are being overseen by it. All best forex brokers are enlisted on governments’ lists and therefore offer the best and secure services. Second most important issues are fees. Forex broker earns on either commissions for each transaction or on bid and ask spread. Many brokers charge no commissions, but offer wider spreads making each deal less profitable for their clients. Top forex brokers offer thin spreads and low fees because of the size of their activity and high liquidity. Another important matter is the platform for the account itself and its extra features. Beginning investors have little experience and hence they need a simple web interface and an option to operate from a forex demo account. Such an account helps you become familiar with market realms and the way you run your account. The biggest advantage of a forex demo is that you do not trade with real money so in case of a wrong decision you do not lose real money. Best forex brokers would offer you a forex demo with a high leverage and an access to many popular currency pairs. Albeit such an artificial forex account has some limitiations, it is a powerful lesson , investing.