3-6:CHIFLEY:Eight basic tips for choosing a Forex broker.docx
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1、CHIFLEY: Eight basic tips for choosing a Forex brokerThere are a few things to keep in mind when you want to choose an online forex broker.#1-Number of spreadsSpread, calculated in points, is the difference between the currency you buy or sell at a given point in time.Foreign exchange is not traded
2、through the redemption center, so depending on the broker spread you use, there are different spreads. Some online forex brokers have variable spreads; some have two spreads depending on day and night.The spread of some brokers depends on the position of the market. When the market is flat, the spre
3、ad is relatively low and when the market is active, the spread is relatively high. I like brokers with fixed spreads because the long-term trading fixed spreads are safer.#2-Execution What is the broker order execution speed? Do they provide automatic execution? How much can you trade before applyin
4、g for a quote?- Are they betting on customers?The best way to understand is to apply for a demo account and test it.#3- Leverage optionLeverage is the total ratio of funds that can be used for trading to your principal. For example, when your ratio is 100:1, your broker will lend you $100 for each d
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