Forex trading brokers can be found all over the internet today. And because it's so easy to place an ad, the chances of being scammed or becoming an excellent marketer are equally high.
A forex trading broker is a person or company that holds your money to buy and sell based on your decisions. You can also look for the top forex dealing broker in South Africa via the web.
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Here are 3 tips to help you research and decide on your forex trading broker.
1. Are forex brokers regulated?
Just because there is a broker doesn't mean it's regulated. If your forex trading broker is based in South Africa, they must be registered with the Commodity Futures Trading Commission as a Futures Commission Trader and be a member of the National Futures Association.
2. Enterprise customer service
The broker must be informed and able to answer all your questions quickly. A good forex broker should provide you with quick and satisfactory answers to all your questions.
3. Trading Options
The services offered are different from any forex trading broker. Does the broker take commissions and spreads? Make sure the spread is small enough to offset the commission. What is the Minimum Trade Size Your Forex Broker Offers?
Your final suggestion is to make a list of forex trading brokers and check the list of criteria that you think are mandatory. That way you can narrow the circle and find your ideal, or at least second best, forex trading broker.