Foreign Exchange Wealth Demystified

  Dealing practices takes into consideration numerous variables like Price feed, Trade Execution, Customer Service, Banking Relationship, Net Capital, Platform and Order Type.   All brokers differ when it comes to execution. So, make sure the execution and dealing practices of the broker match your trading style. Make a list of exactly what you need to accomplish and look for a forex dealing firm (broker) that will most closely match your requirements. A good introducing broker that works with multiple platforms is a good resource to use. Price feed can work for you and against you depending on your trading style. Some firms will quote a low spread but will be always off market by 1-2 pips. This is a market making strategy they use. When it comes to dealing practices the STP or ECN models are the best in my opinion. Bigger firms that have been around longer are also better to use than smaller shops.   You should also look for firms that have solid liquidity provi...

  Choosing the right broker is a major determinant of success or otherwise in forex trading career. The fact that there is no centralized exchange made it a custom for dealing firms also known as brokers to tailor their activities to certain areas of interest ranging from price feed, market making system, platform, capitalization order execution, and lot more. Based on this challenge, trading firms tries to fit to different trading styles. Forex is a much unregulated industry with a very high income potential to brokers and as such it is very necessary to choose rightly. Even though it is almost impossible to distinguish solid clearing firms from low level bucket shops that will do everything possible to make you lose, caution had to be exercise when selecting a dealing firm to trade on. Below is what to look out for when choosing a broker service :- o    Players involved o    Regulation and Capitalization o    Dealing practices The player...