Table of Contents
Separate Account between Broker and Trader’s Investment Fund
In addition, other things make you have to choose an illegal broker, namely the separation of accounts in it. The World government has a policy that requires brokers to separate funds from traders. Thus, the invested money will not enter the trader’s capital account, for more information eToro.
With these regulations, traders should not have to worry about the existence of traders investment money. With the condition of these 2 accounts, brokers who have legality can serve withdrawals or withdrawals of traders’ funds at any time. Thus, there is no waiting list due to conflicts with the trader’s capital management.
Providing Easy Facilities
eToro providing easy facilities is one of the characteristics of quality, credible, and reliable brokerage service. Because, with the ease of service, brokers can provide evidence to clients that as a broker, they are not only looking for profit. But also understand if each client comes from any circles. Here are some of the conveniences provided by legal forex brokers in World a credible:
- Providing a trading platform that has a reliable platform and has complete technical analysis facilities as well as fast order execution facilities.
- Gives a small spread, because several brokers provide spreads starting from 0 pips.
- Easy and varied methods of depositing and withdrawing funds. So, traders can determine for themselves according to the conditions of the trader.
- There is a free demo account available as a medium to practice and test how far the broker’s servers have, including how good the media is.
- Dynamic leverage, so it can be determined by the trader himself.
Provide Communicative Customer Support
eToro customer support is an important part of choosing a legal forex broker. Because legal forex brokers will serve all the problems that occur to traders. So, traders can get communicative and fast response customer support services. Even traders can use the service through several platforms, such as email, online chat, skype, fax, telephone, WhatsApp, and others.
Some things to consider before choosing the best forex broker, here are tips for choosing a trusted forex broker.
- Allows hedging or locking.
- Allows all kinds of trading techniques, ranging from scalping, martingale, and others.
- The leverage provided starts from 1:100. Because ideally it is 1:200 or max 1:400. So it is recommended not more than 1:1000 because it will make your trading account explode, for more information clicking here.
- Does not allow transfers with 3rd parties. This is due to security factors and the legality of money laundry. So, the transfer must be by Bank Transfer directly addressed to the brokerage company concerned. It is not allowed to use illegal media, one of which is Liberty Reserve (LR), Voucher, or transfer deposit.
- Find out how long the brokerage firm has been in existence. The minimum is over 5 years.
So in trading forex, you have risked investment funds whose value is quite large. The greater the return, the greater the risk. Therefore, be wise in choosing a brokerage company that is legal, credible, and trusted.