What is the Role of Forex Broker?
- Thread starter Markmuffin
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- forex broker
To be precise, the role of a broker is to render services and execute your orders to make sure you are able to trade in the forex market. Like I would say that I do appreciate the role of my broker when it comes to fast and fair execution of orders and quick and save withdrawal of your funds.
I can give you a personal advice on how I prevent in falling to scammer broker:
1. I always do a online search for reviews of the broker, I take time to investigate if they have outstanding legal actions against my prospect brokers.
2. I make sure that they have no bad feed backs or complains, like trader can't withdraw funds. if they have I'll try to contact the trader and if possible ask them about their personal experience with the broker.
3. After step 1 and step 2, I open a mini account to try them out I trade it for 4 weeks or more and then attempt a withdrawal. and if everything goes well I'll add capital by depositing more funds. But if step 3 fails. I close my account with them and make sure to post my detail account experience on that particular broker so other can learn from my personal experience.
The brokers are those persons responsible to act as intermediaries between sellers and buyers of business thereof, to enable the reconciliation of the parties and reconcile, easy and good negotiation.
Brokers role in forex is to carry out instructions and execute your order for you to be able to get fill and trade in the market, they also help you through customer support and offer news services to you in order to have good trade using them. my broker is too much when it comes to the role a good broker should play. Their fast and fair execution is what impress me the most.
A broker is middle man that matches up buyers and sellers for forex transactions. There are are several types of forex brokers, but the main job is the same, give buyers and sellers access to the forex trading market.
The role of forex brokers is to provides suitable services and trading conditions to clients, help traders in executing of orders as quick as possible so that one can get filled in the forex market. I really appreciate the role of my broker profiforex when it comes to fast and fair execution without slippage and the use of EA on all account type.
Like a mediator, they feed us with information and introduce our orders into the market based on what we have gathered from them. They are really needed I must say.
A Forex broker is an intermediary between the investors and the liquidity providers. A broker is the place where buyers & sellers go to buy or sell instruments like currencies. Though, despite of being an intermediary between you & another buyer/seller, they usually take your trades and pass it on to LP’s for ECN execution. In Forex markets, some brokers do not pass on the trades to other LP’s. They are known as market makers.
