Almost everyone who set out to start making money on the Forex market has come across an important practical moment – how to choose the most suitable and reliable brokerage company? In our time, there are a great many of them, and they offer, at first glance, the same services ..
The choice of a broker is always a search for some compromise, most often between price and accessibility. Reliable brokers with low spreads are a small breed that usually requires impressive starting deposits and long -term opening and confirmation of account. These include, say, companies such as Dukascopy, Mig Bank or Acmarkets. All of the above, by the way, are located and regulated in Switzerland, which in itself is evidence of stability. The second, largest group is brokers of the “local scale”, the origin, regulation and principles of which are not always transparent. It is usually very simple to open an account in such companies, but they do not require any documents and their own funds to start trading, which, it should be noted, is far from always a sign of friendliness to the client. The third group, which is somewhere in the middle of the quality and accessibility, can be distinguished by large “mass” brokers like Alpari and FXCM, which are trying to offer, on the one hand, low requirements for the start of trade, and on the other, a decent quality of customer service.
Another important characteristic of the broker is the type of access to the market. There are two main types of similar systems: diling centers, when the broker undertakes to be the second side in any client transaction-and NDD (English. No Dealing Desk, T. e. Without a childbearing center) when a broker provides direct access to t. n. interbank liquidity, which means that several large banks compete for the right to become the second side in your transaction. Each type has its own disadvantages and advantages, for example, diling centers are usually much more flexible to the size of the minimum deposit, while NDD most often require significant starting amounts. At the same time, the latter give a guarantee that there will be no manipulations with quotes from the broker, and the former often do not observe this important principle.
You can make the final choice in favor of a particular company, however, the above information will be able to serve as a useful basis for making a more informed and thoughtful decision.