What is a forex broker?
- Thread starter PIPruit
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Solution
A forex broker is a company that offers people who want to trade currencies and other assets the chance to do so through their services. Forex brokers offer financial services to traders and thus they act as a portal for traders to enter and trade in the forex markets.
Forex brokers enable their clients to trade through a platform that the broker offers. Many forex brokers offer their trading services through the famous MT4 platform, or its more recent version MT5.
Forex brokers often are connected to banks or market makers who provide liquidity and help execute the transactions for traders through the broker. Some brokers are connected to more than one bank and thus they can offer better prices, i.e. lower spreads for...
Forex brokers enable their clients to trade through a platform that the broker offers. Many forex brokers offer their trading services through the famous MT4 platform, or its more recent version MT5.
Forex brokers often are connected to banks or market makers who provide liquidity and help execute the transactions for traders through the broker. Some brokers are connected to more than one bank and thus they can offer better prices, i.e. lower spreads for...
ArnavDeshmukh
Private, 1st Class
- Messages
- 46
I recommend choosing FxGlory Broker due to its excellent features, commitment to customer satisfaction, and 24/7 customer support.A forex broker allows you to make money, or lose itMaybe even scam you for your money, it all depends where you end up going to.
ImogenBeaumont
Private, 1st Class
- Messages
- 41
I think you're spot on! It's your trading performance and profit that matter most, not just your broker's activity. Stay focused on your own success!
Fenrilrajas
Recruit
- Messages
- 59
It is important to understand that forex broker is a company that doesn't create markets for its clients, but provides access to financial markets so that traders can participate in global trading.
It is like a ticket search service. You get access to market where tickets are sold. And how up-to-date information about tickets you get depends on how often information is updated.
It's the same with brokers. If broker uses technology that allows you to place orders quickly, it's good broker. In addition, quality of broker depends on whether you will have slippages. But sometimes other reasons can also affect it. For example, you need to take volatility into account.
It is like a ticket search service. You get access to market where tickets are sold. And how up-to-date information about tickets you get depends on how often information is updated.
It's the same with brokers. If broker uses technology that allows you to place orders quickly, it's good broker. In addition, quality of broker depends on whether you will have slippages. But sometimes other reasons can also affect it. For example, you need to take volatility into account.
Robert_Johnson
Recruit
- Messages
- 3
In simple words, a forex broker is like a middleman that helps traders to trade currencies. They provide a platform for buying and selling different currencies, and in return, they charge a small fee called a Spread. We can think of them as a BRIDGE connecting us (traders) to the global currency market.
Hope this helps.
Hope this helps.
Benjihenco8219
Private
- Messages
- 19
Simply put, it is what connects you (a trader) to the forex market using a trading platform. They offer you ways to amplify your resources, ways to try out trading without real money (Demo accounts), guidance with their customer support and customer services, and other services of the sort.
Gerra
Recruit
- Messages
- 7
Brokers provide a platform for trading. Some forex brokers supply their customers with a selection of several sorts of trading platforms. Also I was searching for a Forex Broker that can allow me to do my trades without any restrictions. I found FXOpen International allow trading based of News, Scalping and also High-volume trades.
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