Forex trading is more than just a game of luck. Although commonly misconstrued as a pursuit almost akin to gambling, it takes talent and tactics to achieve success on the markets, not simply good fortune. This means that in order to tip the scales of fate in your favour, you need to be prepared to work hard, learn, and devote many hours to mastering your new pastime.
The best place to start is with a suitable broker, but choosing one can sometimes feel like a minefield. With a myriad of companies to pick from, it can be overwhelming, so it’s important to have an idea of what you’re looking for before you begin your search. To help you out, here are a few pointers to bear in mind…
#1: Excellent Customer Service
Irrespective of the type of broker you choose to use, excellent customer care should always be provided. Any questions you have should be given the time they deserve, and the reputation of the company you pick should be faultless. Should you wish to make an enquiry, expect a person at the other end of the line, as opposed to a voice machine or automated service. Renowned names like AxiTrader are usually especially strong in these areas, so look for brokers that come highly recommended.
#2: Extensive Resources
Even if you choose to use an execution-only broker, they should still be devoted to your success, and one of the ways that they should demonstrate this is by providing extensive resources. Companies that offer blog posts, YouTube tutorials, economic calendars and so on will give you a real advantage over their less invested counterparts, and these assets should earn them some serious brownie points when it comes to making your final selection.
#3: Efficient and Reliable Platforms
Last but not least, make sure that you choose a broker that offers a wide variety of efficient and reliable platforms. In particular, prioritise those who give their customers a choice between MT4 and MT5, as well as those offering options compatible with a wide range of software. It’s essential to find the right fit for your trading strategy and lifestyle, and the more extensive the choices you’re offered, the more likely you are to achieve this end goal.
When it comes to choosing a broker, personal preference will play its role, yet it’s important to ensure that you’re getting the service that you deserve. Ensure that you’ve chosen a company that ticks each of these boxes, and you’ll know that you are.