Welcome to FX VIEW
An online broker is a mediator in the financial market industry. Today, we are seeing huge competition among broker companies that are fighting for their client, providing the best service. Regardless of whether you are new to the market or an experienced trader, the approach to choosing a broker to enter the trading market remains an important aspect for everyone. A variety of trading instruments, zero transaction fees, low spreads, a variety of trading platforms, deposit insurance and bonuses – this and much more can be found in our reviews on FX-view.com.
TOP 10 Online Brokers
*All pricing data was obtained from a published web site as of 2020 and is believed to be accurate, but is not guaranteed.
How to select a online broker right for you
Forex trading has been evolving since its conception, and brokers have been keeping up with it. Access to the market will, in one way or another, have to involve them. Choosing a online broker who will trade against you, will make sure that at the start, you will make enough money to keep you interested. Then wipe out your account as soon as you stake most of your equity. Now let’s talk about what you have to consider before you select your forex broker and what you must watch out for.
- Putting in Lots of Effort
- Advice from Fellow Traders
- States / Countries
Most people believe that the forex market is where you can make insane amounts of money without putting in enough effort. Such are the 75% of people who, before they trade, pay no attention to risk warning disclaimer given by their brokers. If a lot of money is what you want to pull out of the forex market, you should consider every nuance involved.
Online brokers make money whether you make a profit or not. Before you even think about selecting a broker, visit this page. Look at how many brokers have been constantly called out by fellow trades on their operations.
Consider what country or state the online broker has been established in. The political climate in the region and what influence the government has over the country. Do you think that the government can, in one way or another, devalue the currency? Ever wondered why American citizens can’t be allowed by the country to have a leverage of more than 1:50?
Most online brokers offer different types of leverage. You should understand that, and how it will affect your equity and margin levels. The higher it is, the easier to make a profit and a devastating loss if a price spike happens.
Take time to carefully go through your broker’s portfolio. Properly ensure that your broker meets the suggestions recommended. Most brokers offer demo accounts, register for as many as you can. Run them side by side and watch the differences on how price movement varies between them. See which brokers’ price movements freeze during high market volume.
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Best online trading platforms
It’s no doubt the finance sector has embraced digital innovations globally. Financial instruments’ trading is also matching with this pace. Traditional exchanges are now getting replaced by online trading platforms. Interestingly adoption to the digital hype by investors is also on a stir. Instant access to data, convenience, and security are some of the benefits online trading platforms offer that attract investors’ adoption to online investment modules. Jack D.Schwager once stated that; if you don’t stay with your winners, you will not pay for the losers. Through his great wisdom, let’s review the characteristics and examples of the best online trading platform.
In choosing your online trading platform, it’s essential to consider the onboarding costs attached to it. Values range from zero onwards. An example of a trading platform that charges you nothing to onboard no recurring fee besides minimum balance is webull.
An online platform with a friendly interface is the best bet for beginners with no hidden costs. According to stockbrokers.com, TD Ameritrade was ranked best for overall and beginners in 2020.
A veteran investor would prefer a trading platform that offers robust market research to its investors and various trading options. Regardless of the changes in the market, good investing advice is paramount and timeless. Examples of the best trading platforms in this category are; interactive brokers and Charles swab.
In deciding your online trading platform, do thorough research, study, and analyze all available trading options for investment decisions. Check on pricing, technology exposure, and the availability of your portfolio diversification options. Equally, check on platform quality besides its customer service. Finally, there is risk in every trade, so be prepared for the ups and downs.