​What Qualities Should Good Forex Broker Has?

Photo: Wikifx

WikiFX sorts out the following features of a good Forex trading platform for traders to stay away from illegal platforms and make the right choice.

1. Regulated by international authorities with verifiable regulation numbers. All operations on the platform, including deposits and withdrawals, are under regulation. Traders can lodge a complaint with regulators once encountering problems with funds. International authorities include FCA, ASIC, NFA, FSA, and CIMA.
2. Apply genuine MT4 software. Traders using counterfeit software will suffer from slippage and trade at prices different from those in global markets. To get familiar with the platform and spot their pain points, they are advised to adopt the MT4 simulator, in which all operations are the same as real things except the funds.
3. Approve withdrawals within 48 hours.
4. Willing to compensate for slippage.
5. Large-scaled - Only these platforms could afford the maintenance of MT4. Traders can judge the platform by observing its trading products and the spread cost charged.
6. Adopt straight-through processing (STP) without any limitation.

Below are Top 10 best brokers of this week selected by most traders:

1. OANDA
2. FOREX.com
3. AvaTrade
4. Hantec
5. IB
6. XM
7. Rakuten
8. Fortrade
9. Tickmill
10. Pepperstone

Reprinted from Wikifx, the copyright all reserved by the original author.