If you are from big cities, then you have the opportunity to visit the offices of these campaigns. Try to at least visually assess the capabilities and competencies of employees. With the right forex trends this is important.
Crediting and Withdrawing Funds
When it comes to depositing and withdrawing money from your trading account, it is important not only to know what payment methods are available but also how the broker processes the withdrawal:
- Is there a minimum payout requirement?
- Can you withdraw at any time or are payments processed once a month?
- How long will it take to get my money?
- In case you used a free bonus, what are the withdrawal conditions?
- Is there a withdrawal fee?
Each broker offers its own set of payment methods, some of which are: Paypal, Moneybookers, Webmoney, credit or debit card, Neteller, Wire Transfer, and Liberty Reserve. Pay attention to what the participants of a brokerage house say whether it is easy to withdraw funds and withdraw money.
MetaTrader 4 Platform Support
The company must support MetaTrader 4, as this is the most common trading program and most scripts, advisers and other tools are tailored for it. If you want to change the broker, it will be much easier if you use MetaTrader 4 in the previous company. All your codes and scripts will be saved and useful in the future and there will be no need to waste time developing a new interface.
Free demo account and minimum deposit requirement
As a newcomer to Forex, you can practice on a demo account before entering the market. Most brokers offer such a free opportunity in most cases, a limited amount of time on average, per month. Check how long you can use a demo account. It is important to clarify the provision of a minimum balance of a mini-account because you are just starting to work on the exchange and find out:
How much money do you need to deposit in order to open an account?
Small minimum deposit requirements are great for a mini account this is the best thing to do after practicing with a demo. You can definitely improve your trading skills and at the same time lose a minimum. Yes, in the beginning, be prepared for failure.
Leverage or Leverage
Define: what are the maximum and minimum leverage currently offered? This is essential for a good money management strategy. In most cases, leverage starts at 50: 1, so, for example, with a $ 1 position and a leverage of 200: 1 there will be an actual $ 200 management for you in the market. Do not overdo it with 1: 500 or more, because a high debt load increases both potential profit and potential loss.
Quick Support, Support
It is very important at the initial step to test how the support or support works, its professionalism, whether there is a chat. Ask any questions and check about the company’s work, ask for leverage, deposit methods, how many tools they have on the platform, etc. This will determine how much time is required for their response. In addition, you can experience the representative’s attitude and desire to solve the problem.
Never be afraid to ask a lot of questions. They are professionals and if they value their name and reputation, they must fight for each client. Thus, they must politely and attentively answer all your, even the most stupid questions. This is their job.