Choosing the right Forex Broker – There are still many people, especially Indonesia, who are confused in choosing a broker, this confusion itself makes people confused and then they enter the wrong broker because it is easy to be lured by certain parties.
This is of course very important to pay attention to, the spread of various fake foreign currencies which will certainly make losses for those who try to trade. Of course, we as novice investors will ask questions about how to choose the right broker?
You don’t need to worry anymore because on this occasion the admin himself will share tips or how to choose the right forex broker, so that later you can run a trade easily without having to worry about things happening that you don’t want. There are several ways that you need to do are as follows.
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How to choose a Forex Broker
- Security at the Broker
The first way that you can do in choosing the right broker is of course making sure in advance about the security that exists at the broker. But you also have to pay attention to several things and usually every broker has many differences between each other, for example trading conditions, additional services or instruments offered. All usually have their own differences and all of them will play a role in shaping the forex broker and shaping the quality that is produced.
- Checking Legality
The next step is to check the legality. If the broker is licensed by CoFTRA, of course you can feel more secure, CoFTRA is a regulation in Indonesia under the supervision of the Ministry of Finance, so you can feel more secure if the broker you choose has the legality.
- Separate account or not
The following are certainly things you need to pay attention to, especially when it comes to money. To my knowledge and information, the correct forex brokers themselves usually use the concept of a segregated account or separate account. This is an important thing, especially in a case that may rarely happen to a bankrupt broker because the trader’s funds will remain safe later.
- Have a physical office
Having a physical office, especially in Indonesia, is an added value in itself, because later we will be given more convenience.
Because later if you can’t solve the problem online, then you can have an option, namely for you to go directly to the place or to the forex broker’s office which should be recorded on the website. In addition, you can also report to CoFTRA if you feel that the assistance or solution provided is not satisfactory.
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- Forex Brokers as Partners in Business
In running a business, of course, trust is a must. This relates later to a forex broker because if it is mentioned more and more virally in the media and others, you yourself will get feedback from other parties and later will get a confidence for the prospective trader that the partners he joins in are safe and can be trusted. believe.
This is an important step because if you feel confident and feel safe with the dean of the broker, plus you get a lot of opinions from the public or from other parties who are far more understanding in this field that the partners you join are safe then You yourself will become calmer and more flexible in living it.
But still, you have to be slow and careful in choosing a forex broker. Don’t be too hasty and you can apply some of the tips or methods mentioned above and only after that you can determine which broker you will choose.
Maybe that’s the discussion this time, hopefully it will help you in choosing a broker. Stay careful, have fun in learning and good luck!