The exchange market is the biggest financial market in the world with trillions of dollars of transactions per day. Surely, many people find it alluring and realize that it can be a huge source of profit. If you manage it properly, you are likely to start earning big money within a month. However, the first task on your list will be to choose a broker. Let’s take a look at some tips on how to pick one.
The criteria of a good broker
There are many things you should take into account. The main factors, however, are:
- Regulatory compliance. It’s very important you choose a licensed broker. For instance, when you study Avatrade feedback, you see that it’s licensed in many countries all over the world.
- The terms and conditions of the agreement. When you create a trading account with one of the brokers, you sign this agreement (or at least you press the icon next to it notifying that you’ve read and agreed).
- The fees, commission, etc. You must understand that every broker has a certain percent from the spread, so choose the one that takes the acceptable sum.
- The initial capital. While some brokers work only with people who can afford to start trading with thousands of dollars, there are brokers that let you in with a $100 initial capital (or even less). Find it out beforehand and take into account when making a decision.
This list can go on because you might have some personal preferences or expectations from a broker. Make a wise choice and start your path to success and financial freedom.