Must-see! Which Forex Broker to Choose in 2021?

No certain venues are there for the forex market, making it a must to choose forex brokers for trading, which can be troublesome. Therefore, WikiFX got your back with an explanation of how to make the choice.

1. Compliance

This depends on whether a forex broker has registered at its home regulator. Regulated brokers conduct the management of deposits in line with laws and regulations, which is crucial for capital security and the execution of subsequent orders.

2. Detailed information of accounts

Leverage and margin: Margin accounts must be opened when conducting transactions. Leverage is the loan provided by the forex broker.

Commission and spread: Both are risk-free returns of forex brokers. Larger the spread is, higher the trading costs are.

Initial deposits: The majority of clients can start with tiny initial capital whereas some high-quality forex brokers may require a higher start-up amount to ensure that investors are responsible for their trading.

3. Supply for currency pairs

An important factor comes whether a broker is able to provide more tradeable currencies.

4. Customer service

High-quality forex brokers should guarantee personalization, 24-hour response and assistance.

5. Trading platforms

Most importantly, well-designed trading platforms are equipped with clear-cut buttons for “Buy” and “Sell”, even “Alert” sometimes that can close all outstanding positions. Poorly designed interfaces can lead to order-input errors.

WikiFX, a forex broker info search tool, is popular among global senior investors!