When choosing a formal foreign exchange platform, you need to consider four elements
First: What we need to consider is the transaction cost. In foreign exchange investment, the transaction cost is the so-called spread.
In the spread, there are two very important concepts, namely fixed spread and floating spread. Fixed spread means that except for very special market fluctuations, fixed spread trading is maintained. Floating spread means that the trading spread changes with market fluctuations.
Try to choose a platform with a smaller fixed spread, the smaller the spread, the lower the cost;
Second: Is the deposit of funds safe?
At present, most brokers say that they have cooperation with big banks, but when choosing, they still need to actually investigate. At present, the best foreign exchange traders are from abroad.
Third: For foreign exchange investment, the stability of the platform and the speed of placing orders are very important.
The foreign exchange market is changing rapidly, and if the line is often disconnected during trading, it will directly threaten the profit. Therefore, you must choose a powerful foreign exchange trading platform.
Fourth: Supervision
Regulation is the most direct measure of whether a foreign exchange dealer is reliable. Secondly, different regulatory agencies have different regulatory strengths. Among them, the more influential ones are the National Futures Association (NFA), the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Swiss Financial Market Supervisory Authority (FINMA), and companies like Vanuatu (VFSC) Institutions basically have no regulatory effect; you can check the regulatory status of traders on the official website of brokersview.com.
In short, we have countless choices for foreign exchange traders, and among so many brokers, it is particularly important to choose the one that suits you.
If you choose, give priority to excluding unregulated, dummy, and unqualified foreign exchange brokerage business supervision (many have the so-called ordinary license title, which you need to know how to distinguish yourself). This type of platform has the highest possibility of running away.
The second is big companies with big supervision (UK, US, Australia and Hong Kong). Even if there are big companies with big supervision, it is impossible to open an account under big supervision. It’s all offshore supervision and has little effect. I don’t know about Hong Kong, but someone who understands can tell me.
Don’t invest too much, diversify funds into multiple accounts, and if the scale of funds is too large, it is recommended to choose stocks and futures.
The foreign exchange market is changing rapidly, and if the line is often disconnected during trading, it will directly threaten the profit. Therefore, you must choose a powerful foreign exchange trading platform.
