Which broker to choose, recommendations and error analysis.
Errors committed when choosing a forex broker is usually very costly to any of the traders, except that you can just lose some money as a result of not going to work orders, as there is a high probability of completely lose the entire deposit.
Which broker to choose what to protect yourself from such trouble? This is one of the major issues faced by any of the traders. However, there are plenty of nuances that are not always pay attention, but they can testify in favor of the reliability of the dealing center, or vice versa does not characterize it with the best side.
What should pay attention to studying the contract and trading terms?
1. The duration of transactions – this item can be an unpleasant surprise to any of the traders, some dealing centers limit the minimum lifetime of the order of 1-3 minutes, the other vice versa independently of the transaction is closed longer than 2-3 weeks. So be very careful if your strategy does not fit into such a framework.
2. Automated trading – not just reading the contract, I ran across this place as the prohibition of the use in trading various programs for automated trading. The penalty can be the account lock and a fine, and it’s in the best case.
3. Withdrawal of funds – there is someone in that much, some DC forex prohibits withdraw money earlier than two weeks after the opening of the account, and who insists that your funds may be withdrawn only in the same way that you update your account. Typically, this option does not cause major problems but it creates some inconvenience.
4. The dimensions of stop orders – the minimum amount of take-profit and stop-loss.
5. The other trouble – above options except the name when choosing a dealing center reading a contract, you can discover other pitfalls.
Conclusion of the contract with the broker is a rather crucial moment, and it is not necessary to treat it carelessly, spending only a few minutes, you can avoid fairly large error.
Technical issues when choosing a forex broker.
Unfortunately, to learn how to really work the trading platform you choose Dealing Center, you can only practice. Moreover, some moments occur even when trading on demo account. In order to test the dealing desk, or rather his work, just open a few deals with minimum lot and monitor such moments:
1. The rate of opening orders – must be no more than 1-2 seconds.
2. No slip – before placing the order, record the opening price, and then check against the result.
3. No re-quotes – if you are constantly comes failure when placing an order, your order is simply not keeping pace with the market price, so if you are bidding on short periods of time you’d better look for another broker.
4. Stable operation of the term – no freezes or break connection.
5. Activation of orders – one of the most important things, if not trigger a stop loss you can just lose all the money.
Before testing, make sure you know which broker to choose – for scalping, with cent accounts, or other necessary criteria. Do not be lazy, before you update your account to specify all the necessary nuances in customer service.
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