How to choose the best broker and platform? Forex trading is a very lucrative business in the financial market because its turnover reaches $4 trillion per day, making it the largest business in the world's spotlight. The large number of people involved in the same business makes this business increasingly grow and spread.

However, there is one important thing that traders must do before they dive into the world of forex trading, namely opening a trading account and choosing the right forex broker. This is very important as an initial step in pursuing the forex business because the broker is the party that will facilitate the trading activities of traders in the world market and plays a role in bringing together sellers and buyers.

5 Ways to Choose a Trusted Forex Trading Company

Brokers can be companies, institutions, or even individuals. Given how important the role of a broker is, it is only natural that we are selective and careful in choosing it because otherwise, instead of getting profit, we will be trapped in fraud. So, how do you choose the best broker and platform that suits forex trading? Although it is not easy, we must be able to do it.

How to Choose the Best Broker and Platform

The financial investment business is the most fraud-prone sector. There are several steps that can be taken when we are going to choose a broker. The following steps are considered safe and useful enough to recognize and distinguish which forex brokers and platforms are trusted and which forex brokers and platforms are fake.

Benefits of Using Forex Trading Brokers from Indonesia

  • Check Broker Regulations

In Indonesia, the term forex broker has officially changed to Commodity Futures Broker (PBK) and its existence has also been regulated by law and has received permission from the Commodity Futures Trading Supervisory Agency (BAPPEBTI) so that all its activities will be supervised by BAPPEBTI.

Even for some well-known brokers they also have official permits from the Indonesia Futures Exchange (BBJ) and the Indonesia Commodity and Derivatives Exchange (ICDX). Therefore, if a broker does not have official permits from these three bodies, it is certain that he is not a trusted broker and his activities are considered illegal in Indonesia.

Pay Close Attention to Your Trading Account

There are 3 things to consider, namely the commission and spread given by the broker, the initial deposit, and the ease of deposit and withdrawal. By looking at the three broker facilities, you will be able to decide which broker provides the most comfortable facilities for your forex trading activities.

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View Available Forex Products

The more product and instrument choices a broker has, the more guaranteed its legality in the forex market.

Trading Platform Used

Make sure your chosen broker provides the best forex trading platform for you because the platform is the gateway for traders to the world market so you must have a platform that has complete features and can make it easier to make transactions and analysis.

Check the Services Provided

Choose a broker that provides services for its traders according to real-time forex market conditions, which is 24 hours a day and 5 days a week. So that whenever you encounter obstacles, the broker will be ready to help solve them.

The Important Role of Brokers in Forex Trading

The importance of the role of a broker is indeed very influential on the smooth running of the forex business. Therefore, the accuracy in choosing a broker will determine the fate of your fortune in this forex business. Hopefully, some of the steps on how to choose the best broker and platform above can help you in finding and choosing a trusted broker who can help smooth your business in forex trading.

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To minimize the risk of failure up to 0%, you can chose your broker wisely. There are many brokers one the market with various qualification. So chose which one is the best to help your forex trading activity. Good luck.

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