SigmaForex | How To Choose your Broker

The Forex market is not exactly regulated by a central governing body. It is pretty much a free market though each country where the broker operates from does regulate their business activities. So there are certain golden rules you might want to abide by that would improve your probability of finding a trustworthy Forex trading broker that offer reasonable charges.

1. Request for references so that you can get in touch with them.SigmaForex offers you a very strong support that you can contact with 24/7.

2. Some countries do have certain regulatory agencies set up to regulate the businesses of Forex trading brokers based there. Take for instance in US, you can call up the Commodity Futures Trading Commission (CFTC) to see if your prospect is registered as a Futures Commission Merchant (FCM) and the National Futures Association (NFA) as a member. See if they have a clean record.

SigmaForex is a registered financial institution, and registered with the European registration authorities. The regulations set out into notice by these agencies are created to help ensure the safety of our clients’ deposits.

3. Make a comparison of account specifics like the minimum required deposit to open an account, spreads, commissions and the like. Be sure to find out if they have other charges like lot fee and so on. It is always good to deal with brokers who are transparent with the costs of trading with them. Sometimes, the so-called "lowest spread" dealers are not the most reliable ones because of hidden transaction costs.

4. The trading platform that is provided would need to be easy to use. There are two versions, one using downloadable trading software and the other web-based. Some interfaces are so hard to comprehend that most first-time traders give up very quickly. If there is a Practice account, you can sign up and try.SigmaForex offers you A Free Practice Account which is a great way to experience the Forex market without risking any money. Open Now A Free $ 500'000 Account With SigmaForex and discover a whole new way to invest.

5. Requoting is one huge loophole in the foreign exchange trading business that works against you. The Forex trading broker may requote the currency pair rates meaning that you purchase it at one price but is charged at a higher rate and vice versa when selling a currency pair.