What is Forex Broker?
Forex Broker means a company which supervises and advises investors about conversion rates and terms in Forex market. all other articles about What is Forex.
Forex Broker refers to a firm which supervises and advises investors about conversion rate and terms in Forex market. Brokers are also known trading broker. Brokers can also provide trading chance and other services. These companies can work as an intermediary between two forex market actors: the buyer and the seller. If you are wondering that will you need a broker for earning money with forex, the answer is up to you. Forex companies may be advantageous for you because its services. Of course you can buy or sell currencies directly through banks by yourself, however, brokers services such as analysis tools and access to leverage possibility makes your operation easier. Brokers have relationship with banks and in this respect they can offer you the best available price which is got by banks. Forex brokers also offers a trading platform and with this platform forex traders can buy and sell foreign money.
It is not a easy to decide which broker will you work with. In this case, you may make some research. Some broker companies offers traders a practice accounts (demo accounts) so you can understand the market system better. This is a great way to decide the correct company for you. If you want to work with a forex broker you should know that it requires some paperworks just as banks do. Also, there are some rules and processes that you should follow to open a forex account with a broker.
What Forex Brokers Offers ?
* Demo accounts (in this case you can make practice and understand the system easily)
* Forex leverage ( every account offers this opportunity)
* Two different balances ( actual balance and net balance)
List of best forex brokers online:
1- Dukascopy, founded in Switzerland in 1998
2- MB Trading, founded in CA in 1999
3- ATC Brokers, founded in CA in 2005
4- Oanda, founded in Canada in 1996
5- TradeKing, founded in NJ in 1999
6- Etoro, founded in Crete in 2007
7- Swissquote, founded in Switzerland in 2002
8- Ufx Markets, founded in 2007