How To Choose A Forex Broker In 2019? [ 15 Ways ]

Real guide, trusted forex broker and perfect action those three things will make your best trading experience. Read the full process of CHOOSING FOREX BROKER 2019.

This is the ultimate guide to choosing an AWESOME Forex Broker.

Then youll love the actionable tips to choose a reliable Forex Exchange Broker in this guide.

BONUS:Asia Best Forex Brokers List and Reviews 2019

An FXmarketis a company that provides traders with entry to a trading platform that allows them to buy and sell currencies. Traders use these brokers to access the foreign exchange market 24 hours a day.

A foreign exchange company (often called a retail broker) handles a very small part of the total volume of the foreign exchange market. Foreign currency brokers are mainly paid through the bid-ask spread of a currency pair.

Your first priority is to behavior research to determine if a currency trading company hasan outstanding reputation and is able to meet your requirements.

The vast majority of major FX brokers will allow potential customers to test their services with a demo account or a live account so they can gain a good understanding of the systems reality.

It would be wise for you to test as many FX platforms as possible before choosing whichcompany to use.

We can discuss several types ofregulated FX brokersaccording to different criteria. So lets move.

In general, there are Dealing Desk (DD) and NDD (No Dealing Desk):

We normally consider DD brokers as market makers. The infamous term market makers is used because these FX company usually take the opposite of traders. They make money through spreads and cash.

They also try to find a similar long or short order at their other customers, before taking a counterparty exchange or passing it on to a liquidity provider. They are known to offer artificial quotes, and orders are executed on an optional basis.

Unlike DD, NDD uses STP and ECN technologies without a trading desk and route transaction orders directly to liquidity providers. This allows customers to access real markets with better and faster fillings.

It is a bridge between customers and cash providers, and there are no requotes when an order has to be executed. We distinguish two types of NDD: the STP and the ECN.

Straight Through Processing (STP) technology does not require a desk. All orders are routed to the fx companys cash suppliers and prices are executed at the bid / ask rate provided by the liquidity providers.

The liquidity providers, in this case, are hedge funds, large banks, and investors who effectively act as counterparties for each transaction. As a normal rule, the STP trading company has an internal cash pool represented by different liquidity providers, who compete for the best bid/ask spreads for STP broker orders.

More generally, STP means that the brokerage acts as a silent connection provided between the market and the trader, rather than a processing center for re-processing transactions. Please note thatSGT Marketsexclusively uses the STP model. The other advantage of an STP broker is the DMA. DMA means direct access to the market.

DMA is the time when a currency trading company places his clients orders directly in his cash pool, so orders are processed at the best price possible, with only a small margin distributed by the FX brokerage.

This actually offers the best possible distribution for its clients. The execution of the STP is simply unrequited and, because of its speed, it is perfect for traders who like scalping and exchanging news.

Its true that a few years ago, the MT4 ECN seemed excessive. In fact, the initial reaction to this concept was that it seemed impossible. If a Forex trader wanted to use the standard platform, he was supposed to trade only with one broker.

Nevertheless, the demands of the retail forex trader have come to be heard and MT4 ECN has been developed in response.

There are many similarities between STP and ECN brokers, but the main difference is routing. As mentioned above, the STP may choose to deal with different liquidity providers outside its cash pool, while ECN acts as a kind of hub.

The most important feature a good broker needs to possess is actually an advanced level of security. Obviously, youre not going to give thousands of dollars to a person who just claims to be legitimate, is he?

The good thing to do is to check the reliability of anytrustedfx brokeris not very difficult. You can find regulators around the world that separate good from bad or bad.

You might think that all brokers are regulated. But you will be surprised to know that there are also unregulated foreign exchange brokers.

Therefore, you must be a little wide-awake to find one that is regulated by a local or international organization. If the broker is not regulated, then he may work in his own way, which may not work in your favor.

The safe option is to use aregulated fx broker. He will respect the rules and respect certain standards.

Make sure the online FX broker offers a variety of accounts that will help you choose the right one for your needs. This will be a bonus if you find free demo accounts. Demo accounts can refine your trading strategy.

In addition to the above, you should choose a trusted broker that works with a reliable and friendly platform. If yourbest brokermeets all the criteria above, you can certainly expect more benefits.

Believe it or not, regardless of the type of forex trader, you will always be at the mercy of transaction costs. Whenever you enter your trade, you will have to pay either a commission or the spread, so it is natural to look for the cheapest and most affordable rates.

Sometimes you may not need to compromise weak trades to get more reliable, high leverage FX brokers, but make sure you need tight spreads and evaluate the choices available. Its about finding the right balance between low transaction costs and security.

Good Forex brokerswill help you deposit funds and withdraw your winnings without any hassle. Most of the time, FX brokers have no reason to stop you from withdrawing your earnings because the only reason they have your money is to facilitate the negotiations.

An original broker must make sure that the withdrawal process goes smoothly and quickly.

In the online FX market, the majority of trading activity takes place via the brokerexchange platform, which means that the brokers particular platform must be stable and user-friendly. Here this video of discussing different platforms

When looking for a broker, make sure what his platform has to offer.

What about easy-to-use graphical and technical tools?

Does it provide you with all the details you may need to negotiate effectively?

Metatrader 4 (MT4) is the undisputed standard for forex trading software. It is a programmable and highly customizable platform well suited to experienced traders. It provides a wide range of tools for graphing and return testing. Its low latency allows an immediate execution of the order.

It also offers integrations with consultants for algorithmic trade, as well as services such as Auto chartist, third party technical analysis software. Some brokers will also provide a multi-terminal version of Metatrader that will allow you to switch between multiple accounts and exchange accounts.

Most brokers offer mainly Metatrader. This is a Windows platform, but some brokers such asNordFXalso offer MetaTrader versions compatible with browsers and/or Mac-compatible.

Many brokers offer an exclusive web-based trading platform that allows you to trade only through a browser, thus avoiding software downloads. This can be particularly useful for Mac owners or merchants who may not have access to their personal PC during hours.

These web platforms tend to be less feature-rich than Metatrader. However, you should still be able to perform the basic functions of trading and creating charts. For the novice or less technical trades, online forex platforms tend to be more intuitive and user-friendly.

There may even be some advantages to using web-based platforms with some brokers. For example,Lite Forexonly provides stop-loss guarantees for transactions made via Webtrader and also makes the Inside Viewer and Trade Controller tools also available via Webtrader.

Itis a now rising trend where you can learn and discuss any strategies with your peers and even watch and copy trades from more experienced professional traders.The example isTradingView. It is a social network for traders and investors on Stock, Futures and Forex markets!

Most regulated brokersoffer one or more mobile applications to help you monitor and trade your account on the go. Mobile MetaTrader is available for iOS, Android and Windows Phone. It will be synchronized with the desktop version of your Metatrader account.

Some FX brokers also offer mobile versions of their proprietary software. This usually includes iOS and Android apps. However, the BlackBerry and Windows versions are less common.

If you are a short-term trader looking to get some scalp pips, you need to make sure that your potential broker authorizes scalping and provides a trading account.

The accounts are provided with institutional quality software, very low spreads and access to the high liquidity of the interbank market.

If you are a trader of long-term positions looking for large exchange rate fluctuations, you may be less concerned about spreads and the speed of execution of transactions, but more sensitive by interest rates day-to-day (exchange or exchange rate) offered by your broker.

It will be important to study the rates and overnight strategies of your potential broker before choosing them.

If you are a self-managed discretionary trader, you will want to make sure that yourrecommendbrokerprovides you with a good fundamental and technical analysis with which to make your decisions.

If you prefer to use automated strategies, you must ensure that your broker provides the required integrations in its software platform. Brokers offering MetaTrader 4 generally allow the integration of expert advisors. There are also a number of otherautomated trading systems called FIX API.

The interesting matter is algorithmic traders should additionally think about procuring a virtual personal server (VPS) that may continue to execute your fancy strategy, even when your computer is turned off or disconnected from the Internet.Sign Up Free VPS- SGT Markets

The expertise of any broker in dealing with technical support or account issues is just as important as their overall performance in executing your transactions.

Brokers can be helpful or friendly when opening your account but benefit from poor after-sales support.

Thats why you need to research and read online reviews of previous and current customers about their customer support services.

It is always suggested to choose a broker with low spreads. With high spreads, brokers should earn more money. However, this can make you lose more.

High spreads are signs of red flags, especially for beginners. So you should always choose a safe option and choose one that offers low spreads.

Leverage is a process that allows investors to trade a big deal with a small deposit. This will increase your purchasing power. It is simply calculated as a ratio. For example, a ratio of 1: 500 will increase your purchasing power up to 500 times.

With a deposit of $ 1,000, the purchasing power will be $ 500,000.

With significant leverage, you can expect more profits even with a small deposit. But the disadvantage is a loss. If you lose, you will lose a big sum. Therefore, it is important to act smartly to avoid such a situation.

The forex industry is changing rapidly. Its unpredictable. Execution is the completion of a buy or sells order for the security. Order execution occurs when filled, not when the investor places it. When an investor sends a trade, it is sent to the broker, who then determines the best way to do it.

You must act quickly and efficiently to make money with this unstable industry. If you choose an experienced broker, he can act quickly to ensure more profits. Any delay could cause a loss.

This is a feature that allows you to make sure your losses do not exceed a certain amount. Most brokers offer this feature, but it is always important to check with your broker before signing.

When you open a real account, avoid all the bonuses offered by thescam broker. Heres a quick example: Open a $ 500 account and get an instant $ 100 cash bonus!

Nothing really comes for free. If you accept a bonus, it can interfere with withdrawals because some of the money in your account now belongs to the brokers.

Send an email with your account application stating explicitly that you do not want to participate in any of the bonuses offered.

See around the unique list of realDeposit BonusandNo Deposit Bonusbrokers that you can grab anyone without hesitation.

Once you have gone through the previous steps, you can move on to the next step, which is arguably the most difficult part of the process. Its looking for third-party brokerage information. It is also the key element in understanding how to choose thebest onlinebroker in the world.

Amodern Forex companycan write anything on his website. They can make the appearance attractive and anything can seem legitimate. But its harder to simulate what others write about your services. It is true that some brokers really pay people for good reviews.

So, even if you find information about thetop forex companyon which you are researching, you must be very critical about it. There are no strict guidelines on how to decide whether the exam is legitimate and trustworthy.

It is like using your common sense and your intuition again. If the exam is uncomfortable, you should probably trust that feeling.

It is not always the quality of writing that is written. Sometimes the false reviews are very well written and trustworthy. If anything, I tend to neglect some positive reviews and see if I can find negative reviews.

They could have been a legitimate broker for a while, but after a while, they started to rip people off.

So some good reviews matter little if they were written as 3 years ago and recent ones indicate that people are struggling to withdraw their funds.

The number of evaluations for each broker depends on his age and popularity. Many brokers have reviewed there, but there are many who do not. TopAsiaFX recently picked up 10 regulated brokersand described a descriptive review. See why picked up those best 10 in 2019:

– NordFX has been awarded in 5 times: 2017 ShowFx World, 2017 Forex Awards, 2018 Fxdailyinfo Awards, 2018 International Business Magazine Awards and 2018 Global Brands Awards

– During its years of operation, NordFX has seen over 1,250,000 accounts being opened by clients from over 190 countries.

– 0.0 pips and order execution of less than 0.5 sec. Leverage 1:1000, which is available for all currency pairs and metals.

– Allowing 4 account types: FIX, Pro, Zero, and Crypto

– At the end of March 2019, the company has achieved another improvement in business conditions, significantly reducing spreads and transaction costs.

– SGT Markets holds a license as a Primary Dealer by the Financial Services Commission (License number SIBA / L / 11/0987).

– Allows various types of accounts: MT4 (Android / iOS), Equinix LD4 servers, MAMs, FIX APIs, and MAM / PAMM

– The best international banking practices regarding client funds and the policy of Know Your Clients.

– Spreads start from as low as 0.0 pips with trading in more than 100 instruments.

– LiteForex has services to traders, partners and institutional clients in more than 200 countries.

– One Click Trading service is available for LiteForex clients in MetaTrader4 and MetaTrader5 terminals.

– Video reviews, daily analytical articles, signals, and expert opinions.

– OctaFX is a multi-award-winning broker. Recently: ASIA BEST BROKER 2018 (GLOBAL BANKING AND FINANCIAL PERFORMANCE), BEST FX BROKER AND TRADE CONDITION 2018 (MAGAZINE CEO EUROPEAN) with 22 other awards.

– Access to CFD, commodity and index with award-winning Forex trading conditions.

– It provides customers with a series of cTrader platforms.

– 50% Bonus on Deposit with Negative Balance Protection.

– There is no commission on deposits and withdrawals,

– Exness is an award-winning broker. Recently added: Best Broker MT4 Forex 2016, Best Broker in Education 2015, Best Trading Terms 2014 with 10 other awards.

– The company provides more than 120 currency pairs, free VPS hosting, Up-to-date financial news from Dow Jones and the most common benefits.

– Leverage up to 1: unlimited, order execution from 0.01 seconds and minimum initial deposit for the Mini account – 1 USD

– Partners receive up to 25% while a list of onlinebrokers receives more than 30% of transactions made by registered customers.

– Available 24/7 with consultation in 15 languages.

– IC Markets is the only True ECN broker in the world which is regulated by ASIC based in Australia.

– The company offers variable spreads on its MT4, MT5, and cTrader forex platforms.

– It is dedicated to innovation, constant improvement and the use of advanced technologies previously unavailable.

– The company provides daily Forex information, analysis with a monthly volume report.

– Tickmill is the modern broker regulated by the Seychelles Financial Services Authority (FSA).

– Modern traders and scalpers are available on Tickmill.

– New customers have the opportunity to trade with free funds.

– Add, transfer or withdraw funds easily, using the handiest payment method.

– PaxForex is registered in St. Vincent and the Grenadines.

– This broker provides Cent, Mini, Standard and VIP accounts with opening balances of $10, $100, $2,000 and $10,000 respectively.

– 100% Forex deposit bonus for deposits of up to $1,200 USD.

– JustForex is an online broker of NDD and ECN that is regulated by the International Financial Services Commission of Belize (license number IFSC / 60/241 / TS / 16).

– Every 8 seconds a new account opens with JustForex.

– The average earnings of JustForex operators are 7 times higher than their initial deposits.

– 70% of the operators use JustForexs analysis as basic elements for their trading strategy.

– Established in 2010, ThinkMarkets is a multi-asset premium online brokerage based in London and Melbourne and centers in the Asia Pacific, the Middle East, and North Africa, Europe, and South America.

– ThinkMarkets is the proud winner of the year in the Best Forex Trading Experience & Best Forex Trading Innovation categories by the UK Forex Awards 2017.

– It is equipped with an easy-to-use interface, an advanced graphics package, a series of technical indicators, a comprehensive support testing environment and a variety of Expert Advisors (EA).

– The Trade Interceptor and MetaTrader 4 platforms have it covered both on the desktop and mobile devices.

– Fast and reliable execution of orders due to our partnership with Equinix, the largest data center in the world.

Before opening an account, here are simple 5 steps you need to executeyourself…

And if your broker treats you unfairly, do not forget to record everything and ask for an explanation. If that fails, you can share on social media or inform the regulators.

ChiefEditor at TopAsiaFX. He is an Asia-based trading Author andDigital Marketer. He has spent over a half-decade covering news on Forex and Cryptocurrency.

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