In fact, what qualities should a potent broker have?
1. low commission: a broker with a low commission means you will receive a higher profit Forex each trade.
2. Efficient software operation: in order to gain a reasonable profit and enter a transaction at the right time, it is best to choose a broker who will act to your precious instruction without delay.
3. chart analysis: a broker must provide price charts and suitable instruments for you to survey and observe the market. in order to make sound decisions.
4. client support: one of the most important qualities of a reliable broker is to be able to answer all your questions and solve your problems. Quality and efficiency in trading is a must-to-have.
5. assets provided: the more powerful and competent the broker, the more currencies and as-sets he will have at his disposal which translates in more profits for you.
6. credibility of the broker: brokers are under the direct and strict supervisions of financial institutions. In technical terms, they are referred to as a regulatory institution. They are responsible to control their operations in reality; they guarantee their quality of work and correctness of their services.
As an example: in the USA, each broker must be registered in 3 financial corporations:
1. FCM: Future commission merchant
2. CFTC: commodity futures trading commission
3. NFA: national future association
Being a certified member of such institutes is proofs to a broker qualification.
