Four things that your Fixed Spread Forex Brokers does not want you to know
In any business, they all have a secret that they like to keep secure. Even the best-fixed spread forex brokers will keep secrets from their clients. However, there are fewer secrets that a forex broker can keep because of the regulations that are in place. The regulations also stop illegal activities since there are huge fines if they are caught. Here are four things that your fixed spread forex broker would prefer if you did not ask about.
1. Regulation is Important
This is the first thing on the list because it is a huge issue. In your lifetime, there are going to be a lot of bad people that you can run into. In Forex brokers, these are the people who are unregulated. There are companies that are started with the goal of taking your money or your identity, which is why you should only work with best forex brokers who are regulated.
2. Read the Fine Print
Before signing any paperwork, you should make sure that you read all the fine print. Trading terms and conditions are very important and can vary greatly between brokers.
Most brokers are happy to explain their contracts and their trading terms. If there are any questions that you have about their conditions, you should ask the fixed spread forex broker about them. If they avoid these questions, you should avoid working with them.
Free money for trading can be very tempting, but there is no such thing as free money. Most brokers who are offering these free trades use them to make more profits. These free trades help them increase the number of people that they have sign up for their service. Even if you do not continue using their services, they are still making money on your trades.
When you are thinking about hiring a new fixed spread forex brokers, you should remember that you are giving them money and that they want to make a profit. Most times, if there are free bonuses, you could be paying higher fees after the bonuses are used.
4. Forex Broker should not Charge Fees or Commissions
This can make it seem like it is too good to be true, but you should be careful because the price of a fixed spread forex broker can change. There are two types of fixed spreads, which are market spread and a broker. The market spread has built-in spread, but the spread varies greatly.
Before you become angry at your fixed spread forex broker, this is not controlled by your broker. Fixed-rate quotes are great, but you should make sure that you are watching your costs because the costs can skyrocket.
The truth is that a fixed spread forex broker is not trying to trick you. In many cases, they are doing what other businesses do, which is to protect themselves from unacceptable risks and charge legitimate prices. Educating yourself on the topics above can help you make better decisions for your investments.
List of Fixed Spreads Brokers
|FCA, ASIC, IIROC,CFTC||$50||200:1||MT4, FOREX.com Platforms||Click Here|
|CySEC,FCA, ASIC||$200||1:30||eToro Platform||Click Here|
|FCA, CySEC||$100||200:1||HYCM Mobile ,MT4||Click Here|
|ASIC, SFC||$50||1:400||MT4, Rakuten FX||Click Here|
|FSA, CySEC, FCA||$25||1:500||MT4||Click Here|
|CySEC||$100||1:300||Markets.com Web, Markets.com Mobile||Click Here|
|FCA||100GBP||1:400||MT4 ,Advantage Web, AT Pro, Mobile Trading Apps||Click Here|
|FCA||$500||1:400||Mirror Trader, WebPROfit, MobilePROfit||Click Here|
|FCA, CySEC, ASIC, MAS||$100||1:30||Plus500 Platform||Click Here|
|FCA, IFSC, KNF, CNMV||$250||1:200||MT4, xStation5||Click Here|
|SCB, FCA, FSB, CySEC, DFSA||$500||1:500||MT4, MT5, cTrader||Click Here|
|FINMA||$1,000||1:200||MT4, JForex||Click Here|
|ASIC,CySEC||$100||1:400||MT4, easyMarkets App, Web Platform||Click Here|
|CySEC, FCA, IFSC||$5||1:1000||MT4, MT5||Click Here|
|SCB, FCA, FSB, CySEC, DFSA||$500||1:30||MT4, MT5, cTrader||Click Here|
Also Read: How Forex Brokers Make Money