6 important things to consider when choosing a forex trader

The the retail forex market is very competitive and so don't be a victim of fraud And losing all your money

1. Security

Every broker must have a higher level of security to ensure clients that their money is safe with them. 

luckily it's very easy to check the credibility of the the broken through regulation agency all over the world.

Some of the regulation bodies.

• United States: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
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• United Kingdom: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
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• Australia: Australian Securities and Investment Commission (ASIC)
• Switzerland: Swiss Federal Banking Commission (SFBC)
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• Germany: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN)
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• France: Autorité des Marchés Financiers (AMF)
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• Canada:  Investment Information Regulatory Organization of Canada (IIROC)
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• South Africa: The Financial Sector Conduct Authority or FSCA (previously known as the FSB.

So before you invest your money into any of forex trader make sure that the broker that you chose falls under any of those regulation bodies. 

2. Transactional fee

Each and every broker need to get something so they gain either through commission or spread. 
different account some of the brokers offer ecn account and there's a standard account so this account differ. 
So it's very important for you to look at the broker which offer a low spread and low commission.

3. Deposit and withdrawal

A good broker must make it easy for you to deposit and withdraw your profit without any sweats. Your broker only holds your money to make trading easier so there is no reason for you to have a hard time getting the profits you have earned. So every Good broker should make sure that the withdrawal process is speedy and smooth.

4. Trading platforms

Most of the traders offer trading platforms such as trading MetaTrader 4 MetaTrader 5 and send it to that lie and sign. Update on the news market.

So it's very important to look out for such traders.

5. Customer Service.

Each and every forex trader have their own call centre. A good forex trader always have a good customer service because good customer service bring bussiness.

so most of the forex trader offer online chats, facebook, twitter,  Instagram, Whatsapp, Telegram chats, Email and contacts number 24/7.

so it's very important to look for a broker with the reliable customer service and good reviews on social media.

6. Brand

Brand is very important in all the companies a failing because it reflect how people look at the company. So look for forex trader which most of the people are using and popular. Go to their Facebook page, Twitter account and even Instagram account and read about how they resolve queries and what people are saying about them.

So before deciding to invest in any of the forex trading this six factors you must look at especially if ever you don't want to lose your money because there's a lot of forex traders, which are fraudulent and they scam people for thier fortune. 

So stay tune to my podcast for the next session where I'm going to talk about the most reliable brokers you can invest or trade with.

               Stay safe and stay Rich.
                                Peace.