4 PRECEDENT HELP YOU CHOOSE THE TRUSTED FOREX BROKERFinancial investment is an effective investment channel and attracts many participants, the proof is just looking at the number of active brokers on the market today.
The brokers grow “like mushrooms after the rain”, making investors wonder which broker to choose to both ensure their safety and provide the best services.
So through this article, we will together discuss the NEED precedent to choose a reputable exchange as well as refer to some reputable exchanges on the market today.
The first precedent that you should consider when choosing an exchange is the level of credibility and transparency of the exchange. A reputable broker will give you a sense of peace of mind when handing over your assets.
One of the factors to evaluating the reputation of an exchange is through operating certificates licensed by major financial institutions.
List of countries with respective regulatory frames:
- USA: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
- UK: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
- Australia: Australian Securities and Investment Commission (ASIC)
- Switzerland: Swiss Federal Banking Commission (SFBC)
- Germany: Bundesanstalt für Finanzdienstleistungsaufsicht
- France: Autorité des Marchés Financiers (AMF)
- Canada: Investment Information Regulatory Organization of Canada (IIROC)
The above are some management agencies under major countries with high reliability. To ensure your safety before depositing into an exchange, check their quality on the trustworthy lists and make sure the brokers you choose are managed by one of the most reputable agencies.
Transaction costs are the fee that traders have to pay for their transactions. It is the payments for the bank and the broker receive when they perform a certain role.
Transaction costs are very important for investors as they are one of the main determinants of net profitability. Regardless of the type of investment transaction there are transaction costs, including Forex.
Forex trading fees include: Spread, Commission and Swap.
So, when in doubt , choose an exchange that has a low Total Trading cost instead of Low Spread.
Low spreads but Commission and High swaps are one of the “traps” that non-transparent Forex exchanges often use. You need to have an overview and consider choosing between transaction costs and credibility of the exchange.
The market is witnessing extremely intense competition among Forex brokers in Vietnam. Finding reputable exchanges with low transaction costs is no longer a problem.
Most trading in Forex takes place through the brokers’ trading platforms. Therefore, one of the indispensable factors when evaluating a reputable broker is a good trading platform, stable and easy to use.
Check that the technical analysis tools on the chart are complete? Is the operation easy? Is the server system of the exchange often overloaded or unstable when trading? These are the most basic factors that investors need to check to assess the quality of the trading platform.
Does it usually happen? Maybe yes since requite bugs are often blamed on the system by non-transparent exchanges. However, this is often a deliberate ploy to make more profits for the broker from “matching prices more profitable for the broker”.
Care Services and Customers Support
In forex trading, not just new investors, professional investors still have to face inevitable problems of negligence. However, with reputable and professional trading brokers, when something goes wrong, you can completely contact it to handle the problem.
The customer care and support service is also a factor in evaluating the professionalism of the broker. The more professional and reputable the broker, the more professional the customer care team is.
Some brokers often delay customer troubleshooting. This is a common problem with non-reputable brokers, they are usually very agile in the process of opening trading accounts and making deposits. But extremely slow in troubleshooting.
ASX Markets – The Most Trusted Forex Brokers Ever
ASX Markets (Asia Exchange Markets) is an emerging FX /Index /Stock Broker exchange recently but has received good reviews from Vietnamese and Global Traders. Their difference lies in its extremely competitive spread across all accounts. Raw stands out with spreads from zero, but commissions up to $ 10/lot fx.
Even so, it’s still lower than many brokers of the same size. Trading with ASX Markets Broker will make your investment secure and grow up better.