Forex Brokers/Banks

The Ultimate Guide


 

This is the ultimate guide to Forex Brokers/Banks in 2019.

 

 

All You Need To Know Is:

 

  • Which broker to choose

 

  • Why you should be careful with brokers

 

  • What you should look for before you sign up and what to expect

 

Let’s get started…

“We Trade Waves” Forex Trading & Wave Analysis and our youtube channel, Forex Trading & Wave Analysis, “One Day, YOU will be exactly where YOU want to be, until then… KEEP LEARNING, KEEP WORKING & KEEP GOING.” If You Want To LEARN/MASTER Forex Trading & “Wave Analysis” check our Forex Course Page: https://wetradewaves.com/forex-course   “Forex Trading” is a risky business, what we are sharing here or on any of our social media platforms is only our point of view on what could be the next move in the forex market and not trade signals... Trade with care.   Weekly FOREX forecast is what we publish every week & more than 25 markets are covered! so if you want to learn more about forex analysis (Forex Trading), this is a great place for you.  FOREX Trading [forex analysis] is a great business and In our experience, the best way to predict the next move in the forex market is by mastering “wave analysis” no matter what is your style of trading (day trading, swing trading…), this is why we trade waves [It’s different from Elliott wave] and we use our own advanced forex strategy. If you want to check our “Forex course” just check our website and go to our forex course page  “Forex trading” concept and a forex strategy are all that you need, we have the same concept as Elliott wave and Dow theory that the forex market moves in waves but we have our own methodology and our own technical analysis techniques. In order to master forex trading and wave analysis, you need coaching and this where our forex trading course kicks in. “Forex Trading” career & make consistent profits out of it is something we can help you with.  YOU must watch our technical analysis on youtube until the end because we always include “forex trading” tips in our weekly forex forecast (weekly outlook) no matter if you do swing trading or day trading...   Wave analysis is all that we do, let me repeat: Wave analysis is all that we do here, check our last forex trading & wave analysis videos to see our accuracy. We provide “forex course” (Forex trading course) and you can check all the details on our website. Weekly forex forecast


Choose Which FOREX Broker To Trade With

 

Choosing which FOREX broker to trade with can be a very overwhelming task, especially if you don’t know what you should be looking for.

 

In this blog, we will discuss the qualities you should look for when choosing the right FOREX broker for you.

 

With hundreds of FOREX brokers to choose from, selecting the right one can be a headache and time-consuming.

 

Look for these THREE Qualities in the broker.

 

1-  Regulated And Secure

2- Transaction And Commission Costs

3- Trading Terms

 

Let’s look at each one in turn:


#1 Regulated And Secure

  

Safety should be the first and foremost quality that you should look for in any broker. 

 

By safety, we mean a broker who won’t steal your deposit.

 

Secondly, if the broker operates honestly but goes bankrupt for some reason, you would still be able to recover your money.

 

This leads us to another important point – The broker should be regulated by financial authorities of the country they are operating in.

“We Trade Waves” Forex Trading & Wave Analysis and our youtube channel, Forex Trading & Wave Analysis, “One Day, YOU will be exactly where YOU want to be, until then… KEEP LEARNING, KEEP WORKING & KEEP GOING.” If You Want To LEARN/MASTER Forex Trading & “Wave Analysis” check our Forex Course Page: https://wetradewaves.com/forex-course   “Forex Trading” is a risky business, what we are sharing here or on any of our social media platforms is only our point of view on what could be the next move in the forex market and not trade signals... Trade with care.   Weekly FOREX forecast is what we publish every week & more than 25 markets are covered! so if you want to learn more about forex analysis (Forex Trading), this is a great place for you.  FOREX Trading [forex analysis] is a great business and In our experience, the best way to predict the next move in the forex market is by mastering “wave analysis” no matter what is your style of trading (day trading, swing trading…), this is why we trade waves [It’s different from Elliott wave] and we use our own advanced forex strategy. If you want to check our “Forex course” just check our website and go to our forex course page  “Forex trading” concept and a forex strategy are all that you need, we have the same concept as Elliott wave and Dow theory that the forex market moves in waves but we have our own methodology and our own technical analysis techniques. In order to master forex trading and wave analysis, you need coaching and this where our forex trading course kicks in. “Forex Trading” career & make consistent profits out of it is something we can help you with.  YOU must watch our technical analysis on youtube until the end because we always include “forex trading” tips in our weekly forex forecast (weekly outlook) no matter if you do swing trading or day trading...   Wave analysis is all that we do, let me repeat: Wave analysis is all that we do here, check our last forex trading & wave analysis videos to see our accuracy. We provide “forex course” (Forex trading course) and you can check all the details on our website. Weekly forex forecast


One precaution that can be taken here is to only deposit with brokers whose regulators offer deposit protection for clients (e.g. Regulated brokers in the U.K. or Australia). 

 

This means that even if your broker goes bankrupt, the government will bail you out by paying back your funds up to a certain amount.

 
Beyond that, try to choose a broker with a healthy financial situation and a good reputation. 
 


#2 Transaction And Commission Costs

 

Higher Commission costs can impact your trading result exponentially. 

 

The amount of these fees depends on the broker type, and the type of service to which the trader signs up. No matter what sort of trader you are, you will ALWAYS be subject to transaction costs.

 

For the purposes of retail traders, the situation is best summarised by saying the Dealing Desk Brokers charge spreads only, while ECN Brokers charge spreads as well as commissions.

 

If you are trading a smaller account, try and stick to a standard account and not an ECN raw spread account. With an ECN account, you will incur higher transaction costs.

 

Every single time you enter a trade, you will have to pay for either the spread or a commission, so look for the most affordable and cheapest rates.

 

Remember, sometimes you may need to sacrifice low transaction fees for a more reliable broker. It’s all about finding the correct balance between security and low transaction costs. 

 

Below is an explanation of the spread:

 

EURUSD Chart With Drawings

“We Trade Waves” Forex Trading & Wave Analysis and our youtube channel, Forex Trading & Wave Analysis, “One Day, YOU will be exactly where YOU want to be, until then… KEEP LEARNING, KEEP WORKING & KEEP GOING.” If You Want To LEARN/MASTER Forex Trading & “Wave Analysis” check our Forex Course Page: https://wetradewaves.com/forex-course   “Forex Trading” is a risky business, what we are sharing here or on any of our social media platforms is only our point of view on what could be the next move in the forex market and not trade signals... Trade with care.   Weekly FOREX forecast is what we publish every week & more than 25 markets are covered! so if you want to learn more about forex analysis (Forex Trading), this is a great place for you.  FOREX Trading [forex analysis] is a great business and In our experience, the best way to predict the next move in the forex market is by mastering “wave analysis” no matter what is your style of trading (day trading, swing trading…), this is why we trade waves [It’s different from Elliott wave] and we use our own advanced forex strategy. If you want to check our “Forex course” just check our website and go to our forex course page  “Forex trading” concept and a forex strategy are all that you need, we have the same concept as Elliott wave and Dow theory that the forex market moves in waves but we have our own methodology and our own technical analysis techniques. In order to master forex trading and wave analysis, you need coaching and this where our forex trading course kicks in. “Forex Trading” career & make consistent profits out of it is something we can help you with.  YOU must watch our technical analysis on youtube until the end because we always include “forex trading” tips in our weekly forex forecast (weekly outlook) no matter if you do swing trading or day trading...   Wave analysis is all that we do, let me repeat: Wave analysis is all that we do here, check our last forex trading & wave analysis videos to see our accuracy. We provide “forex course” (Forex trading course) and you can check all the details on our website. Weekly forex forecast


Make sense? good
 
So now you know what we are trying to show you, let's move on to the point #3


#3 Trading Terms

 

Time to shed some light on the trading terms below you may have come across.

 

1-  Deposits & Withdrawals

2- Customer Service

3- Trading Platforms

4- Execution

 

And now we can go to the first point


 1- Deposits & withdrawals:

 

Being able to make deposits and withdraw money from your broker quickly and easily is very important. This all depends on the type of withdrawal and deposit options your broker supports.

 

It is also a good idea to check the withdrawal time, as many traders complain that it can take up to a week to withdraw, when they wanted their funds available more quickly.

 

Good brokers will allow you to deposit and withdraw funds hassle-free and makes sure that the withdrawal process is speedy and smooth.

 

2- Customer Service:

 

Whenever one runs into any sort of trouble with their broker, it is the duty of the customer service agent to sort everything out. The customer service skills and availability of the staff should be a factor within the broker selection balance.

 

The competence of brokers when dealing with the account or technical support issues is just as important as their performance on executing trades.

 

3- Trading Platform:

 

An adequate, simple, fast and user-friendly trading platform is critical in trading successfully.

 

When looking for a broker, always check what their trading platform has to offer.

 

Check if their trading platform offers a newsfeed and user-friendly toolkit.

 

In the next blog, you can have additional insight into which trading platform to choose for smooth & reliable trading.

 

4- Execution:

 

In choosing the right broker it is crucial that your broker fills your order at the best price possible in times of higher volatility, especially if you are a Swing trader/Scalper. Speed and reliability are the pivotal characteristics of a broker having the best execution.


 

In essence, you need a regulated broker:

 

  •  Where your money is safe
  •  With tight spreads and fees
  •  Which suits your trading style i.e. Swing trader/Scalper etc. 

 


Brokerage selection is a time-consuming task, but an essential time investment into your eventual success as a FOREX trader.


Our Recommendations?

 

You Can Visit Our Brokers Page Here: |BROKERS|

Or, below are our recommended brokers we have tested these and vouch for these.

SWISSQUOTE BANK

“We Trade Waves” Forex Trading & Wave Analysis and our youtube channel, Forex Trading & Wave Analysis, “One Day, YOU will be exactly where YOU want to be, until then… KEEP LEARNING, KEEP WORKING & KEEP GOING.” If You Want To LEARN/MASTER Forex Trading & “Wave Analysis” check our Forex Course Page: https://wetradewaves.com/forex-course   “Forex Trading” is a risky business, what we are sharing here or on any of our social media platforms is only our point of view on what could be the next move in the forex market and not trade signals... Trade with care.   Weekly FOREX forecast is what we publish every week & more than 25 markets are covered! so if you want to learn more about forex analysis (Forex Trading), this is a great place for you.  FOREX Trading [forex analysis] is a great business and In our experience, the best way to predict the next move in the forex market is by mastering “wave analysis” no matter what is your style of trading (day trading, swing trading…), this is why we trade waves [It’s different from Elliott wave] and we use our own advanced forex strategy. If you want to check our “Forex course” just check our website and go to our forex course page  “Forex trading” concept and a forex strategy are all that you need, we have the same concept as Elliott wave and Dow theory that the forex market moves in waves but we have our own methodology and our own technical analysis techniques. In order to master forex trading and wave analysis, you need coaching and this where our forex trading course kicks in. “Forex Trading” career & make consistent profits out of it is something we can help you with.  YOU must watch our technical analysis on youtube until the end because we always include “forex trading” tips in our weekly forex forecast (weekly outlook) no matter if you do swing trading or day trading...   Wave analysis is all that we do, let me repeat: Wave analysis is all that we do here, check our last forex trading & wave analysis videos to see our accuracy. We provide “forex course” (Forex trading course) and you can check all the details on our website. Weekly forex forecast

SAXO BANK

“We Trade Waves” Forex Trading & Wave Analysis and our youtube channel, Forex Trading & Wave Analysis, “One Day, YOU will be exactly where YOU want to be, until then… KEEP LEARNING, KEEP WORKING & KEEP GOING.” If You Want To LEARN/MASTER Forex Trading & “Wave Analysis” check our Forex Course Page: https://wetradewaves.com/forex-course   “Forex Trading” is a risky business, what we are sharing here or on any of our social media platforms is only our point of view on what could be the next move in the forex market and not trade signals... Trade with care.   Weekly FOREX forecast is what we publish every week & more than 25 markets are covered! so if you want to learn more about forex analysis (Forex Trading), this is a great place for you.  FOREX Trading [forex analysis] is a great business and In our experience, the best way to predict the next move in the forex market is by mastering “wave analysis” no matter what is your style of trading (day trading, swing trading…), this is why we trade waves [It’s different from Elliott wave] and we use our own advanced forex strategy. If you want to check our “Forex course” just check our website and go to our forex course page  “Forex trading” concept and a forex strategy are all that you need, we have the same concept as Elliott wave and Dow theory that the forex market moves in waves but we have our own methodology and our own technical analysis techniques. In order to master forex trading and wave analysis, you need coaching and this where our forex trading course kicks in. “Forex Trading” career & make consistent profits out of it is something we can help you with.  YOU must watch our technical analysis on youtube until the end because we always include “forex trading” tips in our weekly forex forecast (weekly outlook) no matter if you do swing trading or day trading...   Wave analysis is all that we do, let me repeat: Wave analysis is all that we do here, check our last forex trading & wave analysis videos to see our accuracy. We provide “forex course” (Forex trading course) and you can check all the details on our website. Weekly forex forecast

IC MARKETS

“We Trade Waves” Forex Trading & Wave Analysis and our youtube channel, Forex Trading & Wave Analysis, “One Day, YOU will be exactly where YOU want to be, until then… KEEP LEARNING, KEEP WORKING & KEEP GOING.” If You Want To LEARN/MASTER Forex Trading & “Wave Analysis” check our Forex Course Page: https://wetradewaves.com/forex-course   “Forex Trading” is a risky business, what we are sharing here or on any of our social media platforms is only our point of view on what could be the next move in the forex market and not trade signals... Trade with care.   Weekly FOREX forecast is what we publish every week & more than 25 markets are covered! so if you want to learn more about forex analysis (Forex Trading), this is a great place for you.  FOREX Trading [forex analysis] is a great business and In our experience, the best way to predict the next move in the forex market is by mastering “wave analysis” no matter what is your style of trading (day trading, swing trading…), this is why we trade waves [It’s different from Elliott wave] and we use our own advanced forex strategy. If you want to check our “Forex course” just check our website and go to our forex course page  “Forex trading” concept and a forex strategy are all that you need, we have the same concept as Elliott wave and Dow theory that the forex market moves in waves but we have our own methodology and our own technical analysis techniques. In order to master forex trading and wave analysis, you need coaching and this where our forex trading course kicks in. “Forex Trading” career & make consistent profits out of it is something we can help you with.  YOU must watch our technical analysis on youtube until the end because we always include “forex trading” tips in our weekly forex forecast (weekly outlook) no matter if you do swing trading or day trading...   Wave analysis is all that we do, let me repeat: Wave analysis is all that we do here, check our last forex trading & wave analysis videos to see our accuracy. We provide “forex course” (Forex trading course) and you can check all the details on our website. Weekly forex forecast

ETORO

“We Trade Waves” Forex Trading & Wave Analysis and our youtube channel, Forex Trading & Wave Analysis, “One Day, YOU will be exactly where YOU want to be, until then… KEEP LEARNING, KEEP WORKING & KEEP GOING.” If You Want To LEARN/MASTER Forex Trading & “Wave Analysis” check our Forex Course Page: https://wetradewaves.com/forex-course   “Forex Trading” is a risky business, what we are sharing here or on any of our social media platforms is only our point of view on what could be the next move in the forex market and not trade signals... Trade with care.   Weekly FOREX forecast is what we publish every week & more than 25 markets are covered! so if you want to learn more about forex analysis (Forex Trading), this is a great place for you.  FOREX Trading [forex analysis] is a great business and In our experience, the best way to predict the next move in the forex market is by mastering “wave analysis” no matter what is your style of trading (day trading, swing trading…), this is why we trade waves [It’s different from Elliott wave] and we use our own advanced forex strategy. If you want to check our “Forex course” just check our website and go to our forex course page  “Forex trading” concept and a forex strategy are all that you need, we have the same concept as Elliott wave and Dow theory that the forex market moves in waves but we have our own methodology and our own technical analysis techniques. In order to master forex trading and wave analysis, you need coaching and this where our forex trading course kicks in. “Forex Trading” career & make consistent profits out of it is something we can help you with.  YOU must watch our technical analysis on youtube until the end because we always include “forex trading” tips in our weekly forex forecast (weekly outlook) no matter if you do swing trading or day trading...   Wave analysis is all that we do, let me repeat: Wave analysis is all that we do here, check our last forex trading & wave analysis videos to see our accuracy. We provide “forex course” (Forex trading course) and you can check all the details on our website. Weekly forex forecast


Conclusion 

 

We hope this guide helped show you how to choose the right Forex Broker/Bank.

 

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Now It's Your Turn

 

We’d like to hear what you have to say: Please send us an email with your feedback at info@wetradewaves.com

 

Do not forget to check our course page here: |COURSE|