Forex Broker Review : How To Do It For Your Trading Security

There are many requests for forex broker review in order to start investing or trading forex and gold safely. Moreover, the interest of people to enter the world of forex trading is very high. Because of that, many beginners are looking for information about forex brokers that are comfortable and safe.

The criteria for a forex broker to be categorized as the best certainly varies. However, what must be considered very carefully is the legitimacy of the broker. Do not let the money invested in it be forfeited because you will be tempted by fake investments.

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Therefore, the main criteria for choosing a forex broker is to check the legitimacy of the company. That is the earliest way to review the right and correct forex broker for the safety and convenience of your trading. There are at least 5 things that need to be analyzed in a forex broker review.

Main Features a Forex Broker

Before deciding which broker you will use for forex trading activities, it is important to look at the performance and legitimacy of the company. So that beginners can better understand how to invest in forex trading. At least the broker should provide the features in question.

Such as, special educational pages, webinars, training that can be done in person, and market analysis guides. This is certainly something that beginners need. Well, here summarizes some interesting features that must be present when you start for forex broker review, as follows:

1. Transaction Fees and Spreads

It should at least provide a commission-free account and use spreads. Having the choice of account will be more attractive, as spreads or commissions can help clients choose the type that best suits their needs.

2. Leverage

When you start for forex broker review, choose one that offers leverage levels up to 1:888. This is quite high, although not the highest. However, it is important to note that leverage terms in each country may vary. You must check the Leverage regulations in each country.

3. Low Minimum Deposit

Also choose one that offers ease of opening. Also, pay attention to the minimum account opening deposit, at least look for those starting from $5. The low deposit makes merchant access more open. Including for novice traders who have limited capital, but want to try to enter the world of forex trading.

4. Withdrawal and Deposit

This is an important factor when you start for forex broker review. Look for a broker that provides different ways to withdraw or deposit money. Choose a broker that provides local or bank payments, credit cards, Paypal, Payoneer, Neteller and UnionPay.

Being able to deposit and withdraw in local currency can be the right choice. In this case the deposit amount will be converted to USD or Euro based on the Central Bank rate prevailing at the time the deposit is processed. Also make sure that transfer options are available through various accounts at local banks.

5. Charts

When you start for forex broker review, try to choose a broker that provides a variety of charts and indicators to perform technical analysis.

6. Update and Market News

Don't forget to also choose a broker that provides real-time updates on market news and conditions. Important information for traders taking positions.

7. Features for Beginners

Finally, when you do a forex broker review. Make sure the trading application you choose provides features for beginners. The best brokers will definitely provide material for beginners, so that they can better educate beginners to make it easier to understand trading, these are the features that means, as follows:

a. Educational Materials

The educational materials available are divided into 3 levels of experience and are also shown through videos or by hosting webinars in various languages.

b. Material Analysis

The available material is presented in the form of an analytical blog on the latest and upcoming trends in the CFD (Contract for Difference) market until the economic calendar is available.

c. Customer Service Support

When you do for forex broker review, you have to make sure that the trading application you are going to use supports 24/7 customer service, apart from that, choose one that has callback services, chat and email.

Forex Broker Review : How To Do It

Again, we must study well ( DYOR ) or do Your Own Research. Before deciding to jump into forex trading. Forex is an instrument that has no small risk. Of course, even beginners and advanced traders need to do a review to get a qualified forex broker partner.

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The review process will later build confidence that your choice is the best and most reliable forex broker. About what needs to be done to carry out a proper analysis etc. Well, here are things you need to do when reviewing a forex broker, as follows:

1. Forex Broker License Review

A Forex broker review is required for the licensing evaluation aspect first, by:

  • Check on the regulatory agency's website
  • Confirmation by telephone and correspondence with regulatory authorities

The results of the license evaluation will determine several things, namely: Ensuring the validity of the licence, Determining the value given to the broker, Locating the broker's rating, Confirming the validity of the licence, the value and rating of the broker whose information is available on the forex website and the application.

2. Forex Broker Supervisory Level Review

Monitoring level data processing for forex broker reviews is done through 2 methods, namely:

  • In hand by the audit team
  • Automatic with inspection system

Therefore, the level of supervision goes through several stages such as: Supervision of pricing standards, Supervision of the real value demigration model, Regulatory utility model. High-level technologies such as regulatory odds prediction models are also used by WikiFX to conduct quantitative assessments at the broker's regulatory level.

3. Software Quality Review

At the 3rd point for forex broker reviews, software quality checks are carried out with 3 processes as follows:

  • The dynamics of forex data
  • By engineer test team
  • Through the System

Make sure you also test and test the quality of the forex broker software for at least 3 aspects, such as: Software security, speed of operation, and stability.

4. Ability to Manage Risk

This is quite a critical and complex aspect. There are many factors in a forex broker review for Risk Management Ability points. Some of them are:

  • Operation index command
  • Static index model user
  • Global public opinion index
  • Liquidity index
  • Credit

In addition, more than 40 factors are monitored and evaluated in real time through the system. Furthermore, the data obtained from the risk management capability points is used for the forex management team and the cloud system.

5. Forex Broker Business Strengths Review

There are at least three aspects to a forex broker review on the Business Strength point.

  • Business compliance verification model
  • Business lifecycle validation model
  • Business sustainability assessment model

In addition, there is an additional aspect, which is more than 10 other detection models that are maintained when creating a comprehensive system for the broker's business level. We then consulted all the results of the review with several qualified parties, namely Global Eye System and Tianshi Global Enterprise Consultant.

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