Online Forex brokers provide traders with all the required online trading services to access and trade on the foreign exchange market. In spite of the fact that they offer Forex services, they are not identical and may provide the same services with quite different terms.
What Are Online Forex Brokers?
Forex brokers play an intermediate role between traders and the market. Brokers offer online services, however, not all of them are legal. Some online Forex brokers offer legal services, whereas there can be also found brokers who are trying to deceive their clients. Learn more about What is Forex broker.
In the same way some online Forex brokers are regulated and some are not. Unfortunately, most traders do not spend time on analyzing Forex brokers so as to make the right choice. As a result of making unwise choice they can be fooled and trade without any profit or not be able to withdraw funds from the account.
What Do Offer Online Forex Brokers?
At first sight traders may be confused to see all the brokers offering the same services. But actually these services are not identical; each broker realizes its own policy and methods of operation that affect the overall trade of its traders. Good brokers should offer the following services:
- Online trading platform - Online trading platform realizes multifunctional software connection between a trader and a broker for exchanging information. It should contain all the features required for trading including user friendly interface, instruments for conducting technical analysis, wide range of financial instruments, including currencies, metals, stocks, commodities and indices, as well as the system for managing trader's account.
- Customer support - Technical customer support should consist of professionals who can provide clients with any trading information they need, give complete answers to all the questions, explain trading basics and be available round the clock for 5 days a week.
- books for learning - Various educational materials and forex trading books should be offered to traders with different levels of knowledge. This will help novice traders get basic knowledge of what trading is, why and how to trade. And already professional traders will discover new methods and techniques of trading to improve their trading style and results.
- Market analysis - Technical and fundamental analysis are made by experts of financial markets. The results of this analysis are provided on the website of the brokers through articles, charts and widgets. Traders should know how the given event may affect their trade, and what market changes are expected. Though traders can find market analysis in other websites as well best Forex brokers offer their own to their clients.
Online Forex brokers provide all their services through the Internet which is a very important factor for realizing effective trading. Traders can earn money from anywhere and whenever they want: whatever they need is the Internet connection. Nowadays, almost all brokers offer platforms for using them on various devices and under different operating systems, like Windows, Mac OS, Android, iOS and others, which significantly facilitates trading process.
IFC Markets is a leading innovative financial company, offering private and corporate investors wide set of trading and analytical tools. The company provides its clients with Forex and CFD trading through its own-generated trading platform NetTradeX, which is available on PC, iOS, Android and Windows Mobile. The company also offers MetaTrader 4 platform available on PC, Mac OS, iOS and Android. You may compare the advantages of both platforms.