There are many online brokers offering platforms to assist traders in their investments. Many services are available on these platforms, nevertheless, it is recommended to choose a reliable broker. In order to find the serious operators, it is essential to inquire about the references of a site. Therefore, the investor should consult the forums and consider the quality of services offered on the platform.
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The services offered on platforms dedicated to Forex
The security of operations is the first parameter to consider before trading on a financial platform. Many countries have one or more regulatory bodies for Forex platforms.
For added security, it is advisable to trade through a site that is licensed by a local organization. Among the regulated and reliable sites, it is wise to choose the platforms that suit the needs of the investor.
Platforms differ in the proportion of leverage, types of spreads, available capital, indicators required to place stocks, stock strategies.
To judge the performance and reliability of a site, it is recommended to open a demo account. Therefore, traders can simulate their investments through these accounts and judge the different tools and information offered by the broker. There are several parameters that allow you to compare the offers of different platforms, including
- the information available
- the relevance of the technical and financial tools to the needs of the investors.
Information available on the platforms
A Forex broker presents two basic pieces of information on its platform: the evolution of the different currency parities and the graphical analyses.
Other information can also be consulted such as economic indicators, economic or monetary news. These data are classified chronologically or according to their impact on currency rates.
In addition, on some sites, visual or auditory signals are visible to warn investors of events that influence the market.
Technical and financial parameters
The technical and financial tools are different from one platform to another. Depending on the broker, the leverage can be up to 200 times the amount of capital invested. Similarly, there are different types of margin accounts.
It is also necessary to compare the possible orders on a platform such as limits, market prices. In addition, on some platforms, investors have the opportunity to automatically schedule transactions.
The bank guarantee of a site allows to ensure the investments. In addition, a good flow on the platform promotes the processing of transactions in real time. Free transactions on a platform are always preferable. Therefore, it is recommended to check that there are no fees for subscription and possible transfers.
Information visible on the forums
Access to most forums dedicated to Forex requires prior registration. In addition, on some sites, a section is dedicated to the presentation of members.
In this section, the members talk about their ambitions, their experiences and possibly their work methodology to make profits in Forex.
Traders’ progress and information exchange
Thanks to the forums, members of a platform dedicated to Forex have the opportunity to exchange information about current events, chart analysis.
The forums allow traders to share their experiences and progress in their work strategy. In addition, the investor has the opportunity to consult information on important events and dates, the Forex calendar or books on Forex.
In addition, topics related to platforms, brokers, software or stock strategies are discussed in the forums dedicated to Forex.
Analysis of platforms through forums
Some forums dedicated to Forex are accessible to non-registered people. These forums are a vital source of information for judging the quality of a platform.
Indeed, positive and negative reviews are elements to consider in order to determine the reputation of a site. There are also forums external to platforms dedicated to Forex. These are specialized in the analysis and comparison of various platforms.
