You as a trader are of course in the forex market with the main goal of making a profit with the strategies you already have. But, currently, among novice traders, many are still confused about which one to use the best forex broker. Today, a lot of forex brokers have sprung up, which are competing with each other to attract clients. However, among the many forex brokers that have sprung up, for those of you who are undergoing forex trading, you can still count the number of trusted and properly regulated forex brokers that can be considered. Check out http://www.wvwv.org/forex-brokers/forex-brokers-ranking.html to see how reliable the broker of your choosing.
In researching a broker, the first is to make sure the regulations. Regulatory recommendations used are from FCA UK, ASIC AU, MFSA, MiFID. The supporting thing is if the broker also operates in the USA and is CFTC / NFA regulated. As far as we have researched, brokers that are regulated in the USA (CFTC / NFA license) in particular, the broker only covers traders from the USA. To be able to accept clients from Europe and Asia the broker needs to do a business expansion, for example by setting up a branch in the UK or AU. This is if you choose to use an international broker. If you have a goal of using a domestic broker. Make sure the broker you use is regulated.
Several official forex brokers operate on a dealing desk model. The regulations are good. However, a fair trading environment is more likely to be achieved by choosing a broker with a non-dealing desk. Since dealing desk brokers do not place orders on the market, dealing desk type brokers have a conflict of interest with traders. If traders are profitable they have to spend money to pay for your profit. However, non-dealing desk type brokers, these brokers immediately throw/forward your orders to the forex market so that they do not have a conflict of interest with you. This non-dealing desk broker is still happy and has no problem if you profit continuously.
