What is a Pyramid Scheme?
Pyramid scheme is a system of business activities that earn profits not from the sale of goods, but by taking advantage of opportunities for the participation of business partners, especially from the participation fees of other people who will join or have joined.
Then Is Forex Including Pyramid Scheme?
There are actually many brokers in the world which are pyramid shaped. And they have two types namely:
- Classic pyramid
- Fraudulent projects
And, According to Experts / Professionals In This Field, Fraud Like This Can Be Prevented.
How to prevent? By clicking this link: is forex a pyramid scheme, you will learn from the experts to recognize forex pyramid scheme scams. Not Only That, There You Can Also Learn How To Avoid Forex Pyramid Scheme Scams.
How to Choose the Best Forex Broker
To be able to choose the best Forex broker, the Finansialku section will share some things that you need to pay attention to in choosing a Forex trading broker.
Demo Account
Forex brokers should provide demo accounts for novice traders to try. This demo account is very useful to be able to know the real trading situation and conditions without investing large sums or risks before starting Forex trading on a regular account.
Having a demo account can help you feel more confident to get comfortable in Forex trading. After that, there will be various instructions on how to use the broker.
If you really feel confident with the broker then you can open a real or genuine account to make real trades.
Recommended Spreads
What are spreads? The spread is the difference between the selling price and the buy price on the currency the Forex broker is offering. If you want to make a purchase transaction then you can buy it for ask. Meanwhile, to sell it can be at a bid price.
If the spread is a lot, it indicates that the broker can generate more profit. However, if the spread is small, you can deposit more money.
If you open a clear position then you will be subject to the spread and it will be an advantage for the Forex broker if there is a price difference. These spreads can be the best Forex broker that can benefit you.
Regulation
You are strongly advised to choose the best quality or trusted Forex broker who already has a clear legal agency or has regulations. I Highly Recommend To Use Etoro.
Etoro also has good reviews from previous users, you can click the following link to see the reviews: review etoro
Of course, choosing a safe broker is very necessary to help you provide a sense of security when you trade. One of them is Etoro because it already has good reviews and has many customers from all over the world who believe it.
Forex Trading Tools
Every Forex broker should provide a comprehensive toolkit. For example, charting currency prices in real time, tools for technical analysis, commentary on basic and economic analysis.
In other words, you need these tools to trade Forex well.
Stop Order or Limit
With the intense competition between Forex brokers, with various offers and guarantees on every stop order and limit order, you are required to get into the minute details all the time.
The goal is to find out the extent of their assurance of certainty. Is it about news NFP so you are not wrong in choosing Etoro as the best Forex broker in the world or.
Help Service
Of course the best Forex brokers are brokers who can also provide support and remove doubts whenever you need a broker system, that’s why Etoro provides customer service.
It would be even better if you search for a system that you can easily get through multiple accesses. Some of them are through telephone access, helpdesk support, forums, and email.
Transaction Fee
Any type of trader will definitely be charged a transaction rate from the difference in the price of buying and selling transactions or a commission for each transaction. That way, transaction fees can be something you need to consider so that the amount of fees you incur are not too large.
However, there comes a time when you don’t need to pay attention to lower transaction rates for those of you who prioritize the quality and reliability of the Forex broker.
If you need a low spread fee for this type of trading then you need to consider various options such as a balance of low transaction rates and security.
Withdrawal and Deposit
As the best Forex broker, of course, you will be able to make deposits and withdrawals of funds easily. Etoro will not complicate this process.
Platforms
In online Forex trading, most of the trading activities are carried out through the trading platform at the Forex broker that you have provided previously.
You need to know what the Forex trading platform provides.
Does the platform provide news feeds or economic news, understandable price charts or charting tools, as well as any other information you need to help you trade Forex.
Order Execution or Order Fulfillment
Forex brokers must fulfill orders from their clients at the right price. When the Forex market is in normal conditions, Forex brokers must fulfill orders from customers, or at least approach when customers see market prices on their computers by pressing the buy or sell button.
And also to note is, how much leverage is the broker. Some forex brokers offer high leverage, some offer lower levels of leverage.
In conclusion: To be successful in Forex trading, you don’t just need the best broker, of course you also have to be smart in analyzing and managing your risk. If you are unsure of your analysis, immediately consult someone more skilled in this area.
