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Chapter 38, Part I. Some Talk About Brokers. Page 2

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 28, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    After some time the CFTC has released two root documents that have opened the door to Forex market for everybody. They were Commodity Futures Modernization Act and Commodity Exchange Act. By these documents, they actually have legitimized the appearance of retail forex brokers – this was in fact just a single link in the chain that was absent and does not allow developing retail forex trading a brokerage. Once there was fast and public internet, the appearence of retail forex brokers has let me and you think about trading as a business.

    As a result retail brokers have started to appear as mushrooms after the rain, struggling and competing with each other for clients and giving by that competition an additional way of development of the forex trading industry. Now there are many brokers and to choose a good broker is not a simple task, especially when you will hear a bit more about scam in a later chapter.

    Pipruit: Ok, and what forex broker should I choose?
    Commander in Pips: Well, hence now we are discussing just the technical specific of brokers but not a morale one, then I might say that choice is up to you.

    Pipruit: As usual… When something difficult comes – “the choice is up to me”.
    Commander in Pips: Really? Ok, I will give you some additional clarification, so you will get a bit more understanding. In fact, choosing of the broker will be simple if you can answer on the question what kind of trader you are. For instance, you may choose – would you like to pay some trading fee but get tighter bid/ask spread or do you better prefer a bit wider spreads but without any fees and commissions?

     
    #1 Sive Morten, Dec 28, 2013
    Lasted edited by : Oct 15, 2016
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