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In France, Forex trading is an excellent way to grow your financial capital over the long term. However, to get there, it is essential to choose a good broker. This will provide you with tools and resources to help you if you are new to it. Here are some criteria to consider when choosing the right broker.
Who are the best trading brokers?
There are many brokers for Forex trading, but not all are created equal. It is therefore necessary to be well informed, to compare, before rushing on the first comer. Here are the 3 best trading brokers, in detail, but you can also count small French like BourseDirect or Saxo Bank.
eToro, for innovation
Created in 2017, eToro is an innovative platform that offers more than 1083 instruments, including more than 47 currency pairs. It allows you to trade commodities, stocks and cryptocurrencies.
Easy to learn, the platform offers a free demo account and even rewards its best traders. It is ideal for beginners as well as for the more experienced.
Libertex, the leader in trading
Libertex is one of the leading brokers for Forex trading, it allows trading through the MT4 platform and gives you the possibility to access 250 different assets. It is one of the only low cost brokers that charges fixed commissions instead of variable spreads.
IQ Option, for everyone
Suitable for beginners and experienced alike, it offers a completely free demo mode on Forex and a minimum deposit of $ 10 which makes it even more accessible. IQ option has several withdrawal methods which facilitate trading. In addition, it offers its users the alternatives they need to find a market to trade.
What are the criteria for choosing a good Forex broker?
Apart from your needs, several criteria come into play when choosing your Forex broker. You have to ensure reliability, quality of execution, management security, good customer service and choice.
A reliable, efficient and flexible trading platform
The best broker for Forex is the one with a reliable and flexible performing trading platform. For this, it will need to be licensed by regulatory authorities, a large trading community and a host of features that will make your life easier. To make sure, consider opening a demo account to test the broker’s platforms end-to-end.
Execution of orders at the closest price set by the trader
The good broker must have good execution quality, so he must be able to execute orders at the price level closest to that targeted by the trader. By choosing such a broker, you will avoid problems such as slippage or excessively high spreads in times of market turmoil.
Good regulation for security of funds
The good broker for Forex must guarantee the safety of your funds, for this purpose, he must be supervised and supervised by a trusted authority like the AMF. Thus, you will be less exposed to price manipulation and your funds will even be refunded to you in the event of the broker’s bankruptcy.
Good customer service
Customer service is proof of the broker’s legitimacy. Thus, the good broker for Forex must have a professional French-speaking team that you can contact by various means and at any time.
The variety of accounts offered
A broker who offers a variety of accounts allows the client to evolve in the trading conditions that suit him. Choose a broker that offers several types of accounts to find the one that suits you.