Choosing a reliable Forex broker is one of the most important steps of beginning your journey as a Forex trader. That is because your Forex broker is responsible for making every transaction after getting permission from you.
However, since not every Forex broker is made equal, we will provide you with some of the most important questions you should ask your Forex broker before starting Zulutrade forex trading.
How Much Do You Charge?
Before you start your journey with the Forex broker, you should understand their fee structure. That is because keeping the costs low in Forex trading is the key to optimizing your profits.
So, the Forex broker your juice should provide you with tight spreads and low commission. You should avoid Forex brokers who take a lot of commission from every successful trade you make.
How Fast is Your Service?
The Forex market keeps changing every second. So, even a one second delay can convert your trade from being profitable to disastrous. That is why you should ask your Forex broker about their execution speed. Do they place the trade as soon as you hit the button, or is there any delay in the service? These are some important questions which need to be covered before you can start working with a Forex broker.
Is Your Service Reliable?
The only way to get the answer to this question is by checking the history of your Forex broker. They should be available to help you right from the start of the Forex markets on Monday to the closing time on Saturday.
Choosing a reliable Forex broker is as important as doing proper research before making any trade.
Ask the above mentioned questions if you want to be a successful Forex trader in the long run.