What We Need To Access the Market and Trade It - Part II

We Need a Brokerage

There are many brokerage offices offering access to the FOREX market.

Use the following criteria for choosing a brokerage who will give you the best level of service:

1. Reliability.

• It is necessary to find out how many years the given company has been working in this sphere of business and how many clients it has.

• The longer it has worked in this sphere of business, and the more clients it has, the better

2. Quantity and quality of services:

• Technical support service

• Facilities for funding and withdrawing from a trading account, etc. to meet your personal requirements

3. Number of available currency pairs for trading

4. Most important:

• pay attention to the size of their spreads (each brokerage is free to set their own) and the speed & quality of order executions

• consider the functionality of the trading terminal offered. Download it, install it and study the documentation until you are totally comfortable with it.

You should know your trading terminal so well that you can instantly find any tool or feature when required.

Most importantly, you should understand the various orders and the rules relating to their execution – for example: the multiplication table.

In this post we have briefly touched on the subject of software for giving us access to the market. In the following posts we shall consider in more detail the types of applications available for working in the financial markets.