Best Forex Brokers In The Us
Nowadays, a great number of brokers are registered and all of them offer different terms to their clients. When choosing top us brokers, traders study information about the company from official sources, read publications or refer to authoritative forums.
How do the brokers earn?
Many people ask: “What is the profit of the broker who is supposed to support us – traders?” Brokers only make money on services, which include spreads and swaps. He is interested in his traders making profits. But there are also small offices, which deliberately harm the client and give small spreads and entice them with other favors. Such type of brokers is especially dangerous for big players as well as for beginning traders, who can easily get caught in the trap of financial organization. The deposit will be lost, and the money will fall into their pockets rather than on the real exchange market. Conclusion – you have to work with big top us brokers.
For each person, who is a broker, it is very important to work out his scheme of cooperation, which will be permanent. Upon appearance of high competition these schemes are subject to processing to offer more favorable terms of cooperation to the investors. Successful top us brokers conduct more than a hundred competent and qualitative transactions a day. It is worth noting that even one transaction can bring a large income to the investor.
Who is a broker?
In addition to large participants who can afford to operate with large sums of money, individuals may also gain access to the Forex market by engaging the help of an intermediary firm, a broker. This is a company, a professional participant of the market, having the right to trade on the currency market, providing investors with the opportunity to enter the market through the trading terminal, – software, with the help of which clients submit orders for operations with currency (purchase or sale) and a broker executes them. Requests are processed automatically and quite quickly, in a few seconds with good service. Top us brokers work in different conditions and in different positions in economic companies and organizations, but in direct brokerage there are several types of payment for their services.
- Paying by the hour, in which the unit of payment per hour of active work is announced in advance.
- Prepayment, a very risky step for investors, but also no less popular than the first option.
- The payment after the transaction is some kind of bonus for the successful conclusion of one or more transactions; the whole sum paid by the broker upon the project completion is preconditioned and stated in the cooperation agreement.
Categories of top us brokers
- Market makers are people who take all the risks of the client without providing them with any definite degree of liquidity;
- ECN brokers are such brokerage companies which allow the use of different software when making transactions. Their earnings are based on the losses incurred by the traders + the commission remuneration accrued for the withdrawal of a part of the trading profit from the most successful exchange specialists to other users of the ECN system;
- STP brokers – brokerage companies that send traders’ orders to liquidity providers. It can be banks or top us brokers. Such model allows clients not to worry about their deposits because brokers are not interested in clients’ personal finances. All trades are sent directly to the market. This allows the broker to get the best result from the longer and more stable work of exchange traders.
How to choose a top us brokers – important points
The basic rules of choosing a broker will differ depending on what indicators are most important for a particular trader, but, in general, the following rules should be taken into account.
- Reliability of the company. This criterion includes evaluation by such parameters: licensing, term of operation, regulation of conflicts, as well as risk insurance.
- The amount of the initial deposit and types of accounts. A trader can choose the account that suits him the best (demo account, cent account, micro/mini account, PRO), for example, a demo account for training and getting the first experience in Forex trading, then he can go to a real account with a small deposit amount or choose the Pro account for professional trading.
- The leverage provided to the trader. Margin trading allows a trader to make trades in currencies on the Forex market that are larger than the amount of his account and allow him to earn more.
- A variety of tools for Forex trading. Nowadays, a variety of unique and trading tools for trading in the Forex market are at your disposal. The wider the choice of instruments, the more diverse the earning possibilities for the trader.
- Choose the broker with low spread. Spread is the difference between the selling price and the buying price. There are fixed and floating spreads. The lower spread is, the more profit the trader gets.
- The possibility of withdrawing money from the trading account. You should pay attention to the ways of deposit and withdrawal of funds. Some brokerage companies may limit the possibility of withdrawal to the card. It will be useful to find out from your manager in what way it is easier to withdraw funds and how many hours it will take.
- Trading platforms for financial trading at Forex are widely represented. You should pay attention to the convenience for users, the speed of processing requests, the availability of analytics and the ability to use indicators for technical analysis.
- It is desirable that the broker has a multilingual support service. The ability to promptly contact a specialist who will help resolve any difficulties.
The right solution to the question “How to find top us brokers?” depends on how successful the work of the trader will be and how much money he will be able to earn. So, you should use specialized ratings where you can find the most reliable brokers. This will give you an opportunity to start your own way on the currency market and start earning money.