When the time has come to choose the right forex broker there are some criterias you should pay attention to.
On the internet there are lot of websites who compare online forex brokers. For example: bestonlineforexbrokers.com
Please, do not get fooled by any promotion or bonus. Usually these "gifts" are bound to some conditions, which makes going for that bonus rather not recommendable. And besides a good and experienced trader does not choose his broker due to bonus, but due to money guarantee, speads, swaps, software etc.
When I was young and unexperienced I gave a shot at plus500. The good thing about plus500 is that I could withdraw my money easily - and that they offer a great choice of currencies, stocks etc. The pros so far.
The cons: They charge toooo much for overnight positions (rollover) and the "free bonus - no deposit required" is a... joke. For getting 25 Euros cashed out you have to trade 50 mini lots. But the bonus thing is not crucial, important is - at least for the longterm traders - the overnight premium/commission. Example: For EUR/USD the rollover is 0.018% which means, that if you have an open position of 10'000 USD, you will have to pay 1.8 USD each and every night, which is definately almost 2 pips!
To be continued...
No comments:
Post a Comment
Note: only a member of this blog may post a comment.