Why best trusted forex broker in Australia?
- For the safety of your investment, you have to select a trusted forex broker.
- To avoid thinking whether you are with the right forex broker or not.
- To ensure your forex broker is regulated to conduct financial activities in Australia.
- To get the maximum benefit of your forex trading.
How to find the best trusted forex broker in Australia:
There are some clear bases which you should look on before deciding which forex broker you will go with:
The regulation of best trusted forex broker :
Forex regulation is the most important selection factor of the forex broker. You should never invest with any unregulated forex broker since you might end up loosing all your money and nobody can help you. In Australia, we prefer ASIC regulated forex brokers since ASIC is the official Australian organisation which is responsible for ensuring the compliance of any forex broker with the Australian laws. Other regulatory also including the NFA and CTFC regulations from the USA, The FCA regulation from the UK, are also considered to be strong and efficient regulations.
The spread and the commissions of the best trusted forex broker in Australia:
The spread is the difference between the selling and buying price of an asset. Forex brokers usually take a small spread like 1-3 pips (the least price decimal change). Some other brokers take a fixed commissions per trading volume, usually per standard lot (100,000 pips). Always select the broker with the lowest spread or commissions.
The trading platform of the best trusted forex broker in Australia:
Appearntly all the trading platforms looks similar since they are built using the same company called MetaQoutes, who made MetaTrader software including MetaTrader 4 ( MT4 ) and MetaTrader 5 (MT4). However, trading platform is the main connection hub between you as forex trader and the forex market so by considering the speed of orders execution, the grpahical and analytical tools and the support of Expert Advisors (EA), you should be able to determine which forex trading platform is the best.
The trading options which offered by the best trusted forex broker in Australia:
There are huge variations among the forex brokers in terms of the avaibale trading instruments. Some forex brokers offer currency trading, precious metals trading, energy trading , stocks and shares trading, and cryptocurrency trading. It depends on what you are planning to trade in. Sometimes too many options is overwhelming and useless. So you have carefully check whether the broker which you are planning to open forex account with it offers the assets which you are planning to trade it with low spread or not.
The technical support of the best trusted forex broker in Australia:
Skilled and responsive technical support is one of the great features of the best forex broker. Check whther the forx broker provieds support for at least 24 hours every day and at least 5 days every week when the forex market is open.
What do you think other things which might affect your choice of the best trusted forex broker ?