Forex Brokers Guide
What Makes the Ideal Forex Broker?
When you are trading Forex choosing the right Forex broker is a very important task which can really make the difference between winning and losing. As the Foreign Exchange market has grown enormously during the past decade hundreds of new Forex brokerage companies have appeared. Some of these Forex brokers are honest and good for trading, others not. In this article, you may find all the essential aspects of trading that may assist you to evaluate any Forex brokerage company before opening a new account. Different trading styles create different brokerage needs, and therefore, before opening a new account it is wise to define your own trading style according to your special 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 are able to 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 proved right take can take some money back.
The Rating Formula is based on a 4-factor mathematical model including the 4 major aspects of Trading. The Rating Formula was introduced by TradingCenter.org and it is a concept of George M. Protonotarios. This is the version v4.1 of the Rating Formula which is developed to rate exclusively Forex Brokers.
