Forex broker demographics are rapidly expanding as more people are turning to online trading for new and accessible ways of learning how financial markets work and the possibility of making money off them.
Forex broker demographics are rapidly expanding as more people are turning to online trading for new and accessible ways of learning how financial markets work and the possibility of making money off them. However, beginners who are not too familiar with forex are often baffled by the more complex features of trading, quitting a few trades later because they couldn’t comprehend the whole market dynamic and leaving a great financial opportunity behind. But would-be traders have the option of relying on a helping hand that is not only familiar with market features but also very well-connected with the most trusted brokers around. Introducing Brokers (IB) are this helping hand, and even though they don’t trade, they have a vast market experience that provides any forex broker with the basic guidelines to start a potentially successful trading career. An IB refers clients to the clearing firm and provides additional customer support for both the client and the dealer. They are usually compensated with a portion of the spread on each trade their client makes. They also help newcomers through the process of opening up an account, basic software operation and the potential risks involved in trading. Depending on the volume and frequency of your trades they can also advice on profitable trading strategies while keeping you inform of all the latest developments. Frequently, Introducing Brokers are referred to as the “middle man”, when in fact IB’s should never hold client funds nor interfere with the trading process in any way. In reality, using an IB can actually increase your potential for success as a forex broker by:-Having permanent support for any problem you may encounter while trading. Customer support in dealing firms is often inconsistent and it also depends on the volume of your trading. The bigger your trades, the higher you are in the priority list.-Receiving further free-of-charge assistance, like advanced charting software or a free eSignal, which can dramatically improve a forex broker trading results. -Getting rebates for every trade that you make. For each operation performed, the broker pays a percentage of the operation to the IB, which in turn gives a high percentage of that money back to you. Finally, an Introducing Broker is an excellent way for new traders to meet other important players in Forex. Top quality contacts can be a great source of forex analysis and more profitable operations.