Let's face reality. Everyone is in the business to make money, including middlemen. There are two main types of brokers. Dealing office and non-dealing office. An important fact to know when trading is that in a dealing desk environment there is hardly any win-win situation. So-called big forex brokers may trade against you
Now the question arises, how do you find real brokers that do not deal? basic. Go and find ECN brokers. Although it sounds simple, some considerations are surrounding it as well. For example, an ECN environment may not be offered with smaller accounts such as "micro" or even with "standard" accounts less than a certain deposit margin. So if you want a real ECN broker, a minimum deposit might not be an option. You can find the best forex brokers in South Africa via www.globex360.co.za.
It is also true that some brokers may not only trade against you but also send fake price highs and lows to end your profitable open trades. This is a dirty tactic used by a few of the so-called “best forex brokers” to take advantage of the innocence of unsuspecting novice traders.
Forex is the most dynamic financial market in the world. It is so dynamic that there is no central regulatory body to endorse prices and set data. While this particular phenomenon has been the backbone of forex, some brokers abuse it against their clients to manipulate market conditions and trends, simply because the average trader cannot validate the chart data provided by the broker. Do you still think that your broker is the best forex broker in the market?
Discover the important characteristics of the best forex brokers. The most important part of forex trading is not the trading strategy but the balance between all the components that go into trading decisions. Even if you have a system, it can be useless if you don't have the best forex broker to go along with it.