Finding a Forex Broker

For Forex Trading:
For forex markets I would recommend looking into CashBackForex and selecting a broker. CashBackForex is a great way to get additional income on either robots or manual trading. Earned $51 for July, $193 for August, $491 for Sept, $121 for Oct., and $148 for Nov. (lower in Oct and Nov since Dukascopy suspended).

Things to look for:

1. A reputable broker. Look at some forums on what other people are having success with. Websites: DonnaForex, ForexPeaceArmy

2. A broker to fit your trading style. If you are trying to scalp, then you want to find a broker with extremely low spreads on the currency pairs you want to trade during the time windows you want to trade.

3. Decide if you need a NFA broker. Some US brokers are NFA compliant and do not allow hedging. They also must follow the FIFO rule, which means the first trade in must be the first trade out.

4. Determine your means of funding the account. Some brokerages take credit cards, Paypal, eCurrency, etc. while most all take a wire transfer.

5. I am currently happy with PrimeBankForex for my robot trading. They are currently private but will probably open things to the public soon. Also I have used FXDD in the past but moved away from them for better spreads, and they also are now NFA compliant.

1 comment:

  1. A professional forex broker has a strong work ethics and is knowledgeable in the forex business. Make a background check before hiring to avoid costs that may harm your investments.

    ReplyDelete

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