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How to Choose the Best Forex Platform to Trade At

Updated on February 12, 2016

How to Choose the Best Forex Platform to Trade At

Choosing a reliable platform to trade Forex markets is very important if you are to be successful in Forex trading. Some of the best performers in Forex trading owe their triumph to the Forex platform they used in placing trades. Here are some top tips to help you choose the best platforms for trading Forex

1. Liquidity Assets

The first thing you should look for in a broker is the size of liquidity attached to the company. The larger the firm, the more the liquidity and therefore the higher chances that you are not dealing with unscrupulous tradesmen. You can either do your personal research on the Forex company or use someone who has placed Forex trades before on the platform to get more information about the trader’s assets. A brokerage firm with more assets is always the best to hire.

2. Educational Material

The best Forex platforms provide traders with periodic educational materials that make them aware of any changes in trading patterns. This is very useful for anyone who wants to succeed in Forex trading. For example, traders should know the difference about A Book and B Book booking before placing their Forex trades. This will allow them to know the risks involved and how to maximize on the Forex trading patterns for increased earnings. A Booking occurs when your broker has sent all of your trades to the real market or liquidity providers. B booking on the other hand is when your broker keeps the trade in-house and takes the other side to the real market. Having some knowledge on how these two types of Forex trading work can help you make informed decisions on how you want t invest your money.

3. Customer Service

Trading in Forex requires constant communication with your brokers. The Forex platform you choose should therefore have a customer support system that is active 24/7 every week. A Forex broker helping you place trades on Forex market can only act perfectly well if the two of you can maintain frequent communication. This will allow the brokers to advice you on the best moments to make trade and when to hold on your trading ambitions to avoid losing your money.

Lastly, remember that Forex platforms ar


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