Indian traders cannot trade with good forex broker houses due to some restrictions from the government.
Due to which traders trade with some bad brokers and lose all their investments. A trader has to examine many things to choose a good and right broker. It is very important to choose a good broker if you want to take Forex Trading as a career. One of the important reasons why Indian traders cannot trade with a good broker is the significant reasons for deposits and withdrawals. Today I will talk about some good quality brokers through this post.
First of all, what are the things to look for when choosing a good broker?
- Regulation: In order to establish a brokerage house, first of all one has to get a license from that broker. The more licenses a broker has, the stronger the regulation of that broker has to be. The most important regulations is CySEC, FCA, ASIC and IFSC. The broker that has all these licenses is definitely a good broker. A good broker house has two or three licenses among the above licenses.
- Platform: The software through which traders trade is called trading platform. The most common platforms is Metatrader 4 and Metatrader 5. Before choosing a broker, you need to see if broker have Metatrader 4 or Metatrader 5.
- Spread: When traders open a trade at a certain gap, it is called spread. Low spread is good for traders so you need to see which broker has the lowest spread.
- Deposit and Withdrawal Method: The deposit and withdrawal method is the most important as I said earlier. Before you start trading, you need to know which means you can deposit and withdraw. The most common means are Bank, Neteller, Skrill, webmoney, Perfectmoney etc.