Translated from Russian by Google Translate
2 Сентябрь 2009

Forex Brokerage Services. With whom to work?

Retrain from the office worker or a design engineer in the Trader did not like that lazy, or simply an inveterate pessimist. Everyone who at least briefly studied the history of the currency market, its tradition, the specifics of the statistics and yield some traders thought, if he does not change its substantive work on the FX market. And, I must say that many of the individual with the command character rightly make their choice in favor of the foreign exchange market, which is not spared. I personally know these people.


Before you start trading, you must pass a very important process: you have to find a link through which you will be presented at the Forex market. And here is meant Forex broker. Today forex brokerage fairly distributed and the new man who wants to start trading there from whom to choose.

But before you finally decide that you will work with a particular broker, you should:
1. If you - a permanent Internet user, do not be lazy to study the top forex brokers. Such ratings by a lot and looking at them, you can draw some conclusions about the credibility of the mediator in the eyes of ordinary traders clients.
2. If you - from big cities, then surely there will be representation, and, perhaps, not one, different brokers. If you want to choose someone from them, then visit the offices of these campaigns. Try to at least visually assess the capabilities and competence of the staff of this company. This will help draw some conclusions.
3. Be sure to specify whether you are interested in a company member of SIPC (Investor Protection Corporation). The largest and most respected companies are necessarily members of the Western corporations.
4. Must find out what costs you will have to bear as the initial stage (opening an account), and in the subsequent (net of commission, the size of a spread, opening and maintaining position, the withdrawal of earnings)
5. And finally, the most important thing. Determine for yourself what a complex forex brokerage services you need: whether it will be integrated, or a discount service. Also, decide for yourself how you will perform the operation: through an online intermediary (broker) or through direct terminal access.

Suppose you have already studied top forex brokers, you already have a general idea of what the brokerage you are interested in Forex and a a specific Forex broker. In this case, you should definitely deal with all the terms and «paper» nuances. Needless to believe only the word, especially if the forex broker is not world renowned company with a large «tail» of traditions, putting down roots in the previous few decades of successful work in the foreign exchange market.

But if you have already decided to sign an agreement to open an account, then decide:
• What kind of you to open a trading account: margin account or cash account?
• Use Do you trust management of the trading account. In that case, you need only invest, but the rest of the work takes a competent professional.

I think that it would be correct in advance to discuss options for addressing problems. The problems are all brokers, you will believe me. For example, should clarify how conflicts will be resolved, how will process incoming requests from the client and how long it will wait for a response to them. What are the hours of service support and what to do in unusual situations that occur in the implementation of trade on the currency market. Incidentally, in some cases, forex broker asked to sign another one, an additional paper on the mechanism of conflict resolution. But keep in mind that federal laws on securities do not include the signing of the agreement. Then the question arises.

If you are doing online trading is not the territory of Russia, as, for example, from the territory of Ukraine, in what way will be governed by your relationship? All these questions are baseless and should be thought through in advance and set before you sign the agreement. By the way, no matter what form it will be done: in the form of an electronic document or written (physical).

By the way, pay attention to some of the standard tricks that use firm-day and various con artists, who are operating under the guise of confidentiality World Wide Web:
• You are guaranteed a profit? You promised a lot of money with minimum risk? In 99,9% of cases this whopper caused only by the desire to lure customers in any way.
• You promise to provide recommendations that are based on confidential or insider information, which is derived from «reliable»? Understand that if it was actually a forex broker is unlikely to become disseminate such data, as it were possible to independently «pump» means a foreign exchange market in their favor. They do not do, and attract customers on the basis of such promises. Why?

And finally, I would like to give you some simple, life advice based on personal experience.
• Never, never be afraid to ask many questions. You must be inundated by them representative of the company you are interested. They are professionals and if you cherish your name and reputation, we must fight for every customer. Therefore, they must, from the courtesy and attention to answer all your, even the most stupid questions. It is their job.
• Take the time to ask a question, what means there is this forex broker? Let it will look not quite correct, but if a company is honest and legal business, everything must be transparent. In any case, you should give a clear and reasonable response.
• If the activity is carried out using a broker fee, you can bargain for a change of their size in your favor. Of course, many brokers, the amount of commission or spread - a fixed value. But do not forget that the income of a broker is formed by you and you like, that is - customers. And Forex broker is unlikely to be interested in losing a potential customer, who then proceed to their competitor.
• And here’s what I say finally. If for any reason you are no longer satisfied with your current Forex broker, you can always switch your account to another broker. It’s enough to fill the Transfer Initiation Form and send it to the broker with whom you want to work. The rest of the work he does alone.