Currency trading is a complex process that requires some preparation. This includes research, analysis and some crucial decision making. As you consider to start trading on Forex you will quickly stumble upon the term “broker”. And surely, you will ask what is a currency broker if you have never come across this word before. Let’s talk about that. What is a Forex Broker?

With hundreds of forex brokers to choose from, selecting the right one can be challenging and time-consuming. This represents an important decision because the type of forex broker chosen can affect both the quality of service you receive, as well as your transaction fees and dealing spreads. The first step you need to do to trade on the forex market is opening a trading account with a forex broker.

It is no secret that smartphone trading has given traders the ultimate freedom. Until recently, trading required you to spend several hours in front of a computer or laptop each week. Thanks to smartphones and tablets, these days you can trade from anywhere with a good internet connection.

In its 2009 report, the Foreign Exchange Committee at the Bank of International Settlements estimated the total numbers of forex related transactions to be $3.2 trillion. With this type of money floating around an unregulated spot market that trades over the counter with no accountability, forex scams can only increase with the lure of earning fortunes in limited amounts of time.

Forex rebates programs have become increasingly popular over the last few years, as they allow a trader to reduce the costs of trading. Forex brokerages profit through the spread and/or commission charged to a trader. Spreads and commissions ultimately eat into a traders profits or increase a losing trader’s losses.

Easy access to the global financial market through the forex brokers which are offering leveraged trading accounts is very promising for retail traders and their expectations. It promises an irresistible combination of wealth and independence. All you need is a computer and an internet connection – and then you can earn a fortune from the comfort of your home.