Forex-brokers are middle men, connecting traders to forex markets. They also offer their clients’ a number of different services.
One of the services or benefits is advice. Staying up-to-date with market news, trends and all sort of market related information is crucial for making successful trades. Forex brokers offer their clients market analyses, technical analyses and research. Apart from analyses, clients can also receive education. This can be in the form of e-books, webinars and videos. Clients also get the best available currency prices.
No commission is paid. Forex brokers make their money based on pips. That means that a trader pays exactly the amount quoted.
Some forex brokers develop their own trading platforms, while others use world-renowned platforms. Trading platforms are basically software. Technology is always improving. Top rated forex brokers stay on top of these and make it available to their clients.
Support is another crucial factor. It is advised to open a demo account first to see if the forex broker’s support system meets the needs of a trader.
An added benefit to look out for when looking for a broker is the bonuses and promotions they offer. This can help traders to maximise their trades.