Traders' Resource  |  SEP 2011

Traders’ Resource: Forex Brokerages

Foreign exchange traders have more choices than ever in their ongoing search for speed, pricing efficiency, and good accounting when it comes to forex brokerages. First, you must find a forex brokerage that handles your particular currency cross or pair. You should also look at margin requirements/leverage, and whether the broker offers a miniaccount. With a little research, you will be able to find a forex brokerage targeted on your interest. After that, your first question might be, “How fast can I execute an order?” For this, it’s best to test out a demo account offered by the brokerage. This gives you the opportunity to see if the prices on the screen are actually honored and the speed at which your order gets executed. A forex brokerage’s ability to provide market statistics, hedging activity reports, and other such information may be critical to your trading and investing decisions.

by Technical Analysis, Inc.