Introducing broker Forex: The foreign exchange market is a type of exchange for the global decentralized trading of international currencies.
According to the statistics from the Bank for International Settlements – which serves central banks in their pursuit of monetary and financial stability – the average of currency exchange is 4 trillion US dollars a day.
That is why more and more people are looking to start trading in the Forex market and some of them start with searching for an Introducing Broker Forex or IB to guide them in the process.
Before you start investing in the Forex market and also before you hire an IB it is necessary to think about some things. First, there are thousands of brokers offering their services on the internet and you can find different categories. Second, there are brokers that make money manipulating and increasing the spread artificially by buying big amounts of a currency to make it expensive or vice versa, it is better to avoid this type of brokers because their models are not helpful.
There is also another type of introducing broker Forex named Electronic Communication Network (ECN) brokers, they do not make money spreading so they do not manipulate the transactions. That is the better option when you start trading in the Forex market.
It is also important to be sure of what a broker offers, some of their services include:
– Trades. Most introducing broker Forex provide a demo account to practice in a ‘live situation’. This allows to start in the trading market more confidently.
– Accounts. Some IBs offers accounts with no minimum deposit or small deposits amount.
– Brokerage and payment details. How are you going to pay the broker and how is he going to pay you, look for the best option for your necessities.
– Trading platforms. Some IBs offers platforms that will be useful for you when trading, some of them offer training in the use of the platforms and some provide applications for smartphones and tablets.
It is also important before choose any broker to research about them to get to know them and choose the person that can full fill your requirements, is a good idea to search if they have a good record in order to be safe and avoid scams.
Remember that an introducing broker Forex is usually an expert that will be able to help you to be successful and if you follow the previous suggestion is likely to find a good one.