Business or Entrepreneurial questions? BizWarriors is completely FREE - paid for by advertisers and donations. Click here to join today! You can now use your Facebook or Twitter account to regsiter or login. If you're new to the BizWarriors Forum, we highly recommend that you visit our Guide for New Members.

Best Forex Broker?

Discussion in 'Investments to Grow Your Business' started by Bobrichmore, Apr 17, 2015.

Share This Page

  1. Bobrichmore

    Bobrichmore Member

    I am looking for a forex broker. Any Suggestions?

  2. Investor

    Investor Member

    Hey Nick,

    That's a good question. As with anything in business, there is no one-size-fits-all broker out there.

    ForEx is an amazing opportunity, but there are so many strategies one can use, including margin trading. You need to identify what type of ForEx trader you are (or at least which resonated with you), and evaluate your goals. Once you have identified what type of trader you feel you will be, then it's important to figure out how much capital you have to start with, and what type of functionality you need from your brokerage to meet your goals.

    For example, there are folks out there who are you trading traditional pairings, such as USD/GBP, USD/JPY, USD/EUR, etc., and require simple strategies and less functionality.

    Then there are traders like me who like extremely volatile pairings that offer tremendous profitability potential (and of coure potentially devastating losses). These types of pairing can be difficult to even trade on the larger brokerages, and require specialty trading firms, with specific functionality. These types of pairings can include ZAR/THB, HUF/THB, etc.

    So first research and find your trading identity. Once you find that, then you can identify the right broker for you.

    On a side note, if you're not really serious about this, and it's more like you'd like to dabble in ForEx for amusement then you don't need a broker recommendation. Pull the trigger with any broker and get your feet wet.

  3. Dandelion

    Dandelion Member


Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.