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Choosing a broker.
A broker is a company that provides Forex trading for private traders. The success of trading on the stock exchange depends not a little on what conditions the brokerage company provides. You can approach the choice of a brokerage company in a simplified way – choose a leader from the general ratings. There are a lot of ratings on the Internet, and the same companies constantly appear in them, but sometimes new names appear. However, you need to know what are the characteristics of a good forex broker:
License. A brokerage company must have a license to carry out transactions on the Forex market in open access. The license means that the company is verified by the state regulator.
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Guarantee fund. A serious brokerage company has a security fund, due to which customers can compensate for losses. It is important to understand that losses are compensated not from unsuccessful transactions, but when the company closes. The funds are placed on special bank accounts and guarantee the financial security of the client.
Trading accounts. Brokerage companies offer several types of accounts, before registering, you just need to clarify whether there is a trading account of the type you need. Firstly, there should be a free demo account for the training. It is optimal if small trading accounts are provided on the stock exchange, especially for beginners. Brokers distribute accounts in a hierarchical order — the larger the deposit amount on the account, the more opportunities for transactions on the exchange are provided to the client. Also pay attention to how you can open and close a trading account with a broker. What is the time frame for withdrawal, whether there are commissions for replenishment and withdrawal to the bank card.
Commissions. Brokers earn commissions for transactions on the stock exchange, so you need to find out what exactly traders pay for and what the price of mediation is. In this context, working conditions are also important due to the size of the deposit amount. Therefore, you need to pay attention to the size of the minimum deposit amount and what it gives. Sometimes such limited trading opportunities are offered with a minimum amount that it is better to choose another brokerage company.
