Choosing a Forex Broker Explained

Choosing a forex broker that is right for you is very important. There are thousands of forex brokers available and not everyone will be right for you. In this video i break down exactly which things you should consider when choosing a forex broker.

#forexbroker #forex #mt4

You can place bets on the world's currencies through forex (foreign exchange) brokerage accounts, buying or selling currency pairs that react to economic developments all over the globe. The forex market operates 24/6, opening on Sunday afternoon in the U.S. and closing after stock traders complete their business on Friday afternoon. The volume of currency trading is enormous, transacting an estimated $4 trillion per day, which is larger than the world's stock or bond markets.

Forex traders take long and short sale positions on currency pairs, which calculate the exchange rate between two forms of legal tender, like the euro (EUR) and U.S. dollar (USD). A long position opens a trade that makes money when the exchange rate moves higher; a short sale profits when it moves lower. Unlike stocks, a trader doesn't borrow money or securities from a broker to open a short sale position, but she may have to pay a rollover fee.

Brokers hold your money in an account that changes value nightly in reaction to daily profits and losses, and they handle fees that may include commissions, access to expert advice and withdrawal requests. Some brokers hide their fee schedules within legal jargon buried deep in website fine print, which means potential clients need to do their homework before opening an account.

How to Choose a Forex Broker
Choosing a forex broker requires you first to figure out what type of investor you are and your goals in investing in currencies.

Each broker that features forex investments has advantages and disadvantages. Some of the most important things to consider are regulation, the level of security provided by these companies and transaction fees.

Many forex brokers are regulated. Brokers in the U.S. are regulated by the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC), and France, Germany, Switzerland, Austria, Canada and the United Kingdom also regulate forex brokers.
Brokers also differ in their platforms have different required account minimums and transaction fees.

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The information contained here and the resources available for download through this website is not intended as, and shall not be understood or construed as, financial advice. I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained on this Website is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.

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*None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.

[yonatanperednik]

Aren't you afraid that an unregulated broker will one day just disappear with your money? This issue concerns me with my regulated broker (and I'm really not sure what kind of regulation the forex industry has). I'd be happy to hear your point of view about this issue.

[t..]

I use Blueberry and I'm from Canada; they gave me 400x leverage. That's more then enough for me and I love Blueberry.

[jeffjeff]

I gotta comment on this. I actually just started trading and I did research on my broker and to my surprise I searched what you mentioned and watched your video it was the exact research I did. I think I'm in the right direction 😅

[deepesh]

As per your suggestion I have opened account with osprey. Thank you so much for your guidance 😊

[debyaka]

Dont use brokers, Just open bank accounts in the countries with the currency pairs you expect to be trading in, All you usually need is a residency permit and then you can get the bank accounts and trade broker/commision free.

[TheMovingAverage]

ATTENTION EVERYONE
PLEASE WATCH THIS
Top 10 Trading Mistakes!!

[skillfa]

Hello Arty...Thanks for sharing your experience, If I don't take your valuable time, I have a few questions for you...
My first question is, is your proposal for a broker still the same broker after a year of publishing this video? Because I am watching the video now in December 2022..
My second question is, have you decided to implement your website? Because I went several times and wanted to use the tutorials and courses that are available, which unfortunately did not work and could not be clicked, I think it is being prepared. .it's true?
In the end, I have to tell you that: I have chosen you as a role model and teacher in my personal life for a long time, even though we are the same age, but your abilities in business, as well as your ability to tolerate and interpret problems, are very important to me. It gives me motivation and energy to move forward...
I hope you will always be happy and, as you say, have a ridiculous smile on your face🖐🙏

[ismilehussain]

Hi. Thanks for an informative video. I actually tried Osprey on a demo account. Pretty amazing but all transfers are crypto. No bank wire transfers😞

[spacewalktraveller]

Thanks for the video. I looked at Osprey and I couldn't find anything about the owners or who they are. On the about us page they are very vague. The problem is if they close up shop, which they always do, you have no way of getting your money back. There's nothing wrong with trading off shore, it all depends on your risk appetite, it all boils down to personal choice. I would personally prefer to go with someone who is properly regulated, at least I have a chance of getting my money back. There are just too many shark out there for my liking.

[wck]

Yet another valuable video, awesome share Arty. quick question... As I have been practicing using trading-view, how would we link a broker to trading-view that's not on their list? cheers mate keep them coming.

[tayyabraza]

Noted:This video has 612 Likes & litterly not even a Single Dislike proving TMA a name of Trust .
Lots of Love for Mentor from Islamabad Pakistan 💚🇵🇰

[soundaround]

There needs to be a LOVE button for your videos! Which broker do reccommend to use for a live trading account?

[mxifly]

Do you have a playlist that I can follow, So I can methodically learn

[heychad]

So, to be clear, when committing to a trade, you take into account the brokerage fees before taking profit? For example, if all you want out of the trade is 10 pips, then you would have to wait for more depending on what fee your brokerage takes. Am I correct?

[philmollot]

Hi Arty. I'm new to your channel and I'm loving it. I just joined Eightcap Broker out Australia and the numbers are a bit better than you showed. I know this video is from a ways back but if the spread and comission have not gotten a little better it's worth a look. Keep up the great work.

[martinettenes]

Great & Informative Video (as usual) Thank You ...

[mantassakinis]

Hi everyone, have quick question, why do you need a broker, let’s say if you trading cryptocurrency, you need just wallet and then transfer your money from crypto wallet to your bank, so don’t understand why need a broker ? Thank you

[thentekyan]

do you have any idea about good broker in USA ? Thanks for your info

[SelvamSelvam-kwpb]

Many thanks sir I'm apply and start make money

[marcus_w]

I saw your video and looked into OspreyFX. The big no no currently is the offered withdrawal methods. Whats this with the withdrawal in bitcoin over a specified wallet - even on a credit card? You need a bitcoin wallet to withdraw your funds, even though bitcoin is volatile af nowadays? For example: I'd like to withdraw $1, 000 - and when my withdrawal finally clears, I eventually get 800 out of it.