How to Choose the Best Forex Broker 2020 - Step by Step Guide

How to Choose the Best Forex Broker 2020 - Step by Step Guide

Written by: PaxForex analytics dept - Monday, 20 January 2020 0 comments

Today Forex trading is known as the most efficient way to get an income, especially taking into consideration its main benefits – low investment requirements, good returns and remote “work” so to say. So basically, it totally reflects the spirit of our times. If we consider other options for getting a stable income on the Internet, trading has the best opportunities. In order to trade on the Forex market, you need to cooperate with a broker that provides intermediary services. Beginner traders need to know how to choose a reliable broker among the wide range of companies engaged in intermediary activities.
 
Many newcomers are being tormented by the same question - which broker to choose, what are the advantages of this particular one over the others and if you can believe everything that is said in the advertisement. These are quite reasonable questions because today it`s all about marketing overflowing with incredible and hard-to-believe promises. Of course, for those who have been trading for a long time, the choice in this situation becomes much easier - traders know what they need and what to pay attention to find the most suitable brokerage company. Moreover, they know what to expect, are familiar with real reviews or have personal experience. 
So today we have prepared a step-by-step guide that is meant to make the decision-making process much easier and more informed. It is best illustrated by the example of PaxForex.
 
First of all, let`s see what is a broker. To make it clear, a broker is an intermediary between a trader and the market itself, a bridge so to say. A broker provides an opportunity to actually trade on the financial markets. Forex broker's earning is a commission (spread) which depends on the difference between the BUY and SELL prices.