Topic: How to Choose Best Bitcoin Forex Brokers (Read 2435 times)

Also, forex can't be compared with crypto as crypto is an asset (works like stock market) wherein you can invest on it with lower and hold it to be sold for a higher price. On the other hand, forex is just pure trading.

The asset you traded is good evidence. But in forex, things are different than here. Forex is centralized, but there is also volume of 4 trillion. Difference is tens times bigger when we compare it with crypto trade.

Indeed. Brokers in Forex are more regulated than exchanges in crypto. I'm not saying that exchanges in cryptocurrency is not regulated. Of course it is regulated by SEC. But, to say it safely, Forex Brokers have a more regulated exchange since it is older than crypto.

Indeed. Brokers in Forex are more regulated than exchanges in crypto. I'm not saying that exchanges in cryptocurrency is not regulated. Of course it is regulated by SEC. But, to say it safely, Forex Brokers have a more regulated exchange since it is older than crypto.

Answering in behalf of him. Brokers are indeed similar on Exchangers here on crypto the difference is that Brokers are highly regulated ones than on exchangers and possibility of
Fraud or rigged trades is possible or rampant with these brokers.I have forex experiences and in regards with risk i can really say that Crypto is way more risky but in exchange it is more profitable that FX.
When it comes to FX brokers i do trust XM and Tradersway.

Of course, given that all investments can lead to scam and being risky forex is risky too. But, I can say that forex is less risky than cryptocurrency because of the reason that bitcoin is highly volatile and forex is not. Having less volatile gives you less risk.

Not much of a familiar with brokers but I think brokers are exchange in crypto? Am I correct?

Apart from the fact the forex trade is risky, bitcoin trade too is same thing too. My fear with brokers however, have been scam. If a broker do not release your profit, it is the most wicked thing on earth. I have experienced such in the past and I don't pray that for someone.

Both are risky but both can also bring not a bad profit. meanwhile, I have picked the cryptocurrency world as it is more clear to me and more exciting.

There are many forex brokers in the market and finding the best may be a hurdle. The problem comes because of market flooding. I mean, almost any person can masquerade and pose as a broker in the Forex Exchange market. However, there are those best forex brokers in the market and in every market.

Forex brokers help traders in trading in the market place. This institution exists because there is usually no central marketplace for the forex market. This article provides in-depht analysis of the market place and will allow you to know the hurdles of the market.

1. Compliance with the government
In the States, the National Futures Association is the association that registers all forex brokers. This is the initial place one should check before giving any broker a call. The NFA has strategically been placed to protect the integrity of the market in the states.

The NFA is in charge of controlling the market through regulation and formation of rules and programs thus paying them a visit before paying any broker a visit in mandatory in order to avoid scam websites.

Be warned that a website which looks professional does not guarantee that the dealer is genuine. In many cases, these website carry a professional looking portfolio are ones used by many scammers. Many people fall prey to these websites.

2. Customer Service
A good forex broker will always provide you with 24/7 service. A quick call will always give you a clear indication of whether the broker is genuine or not. A genuine broker will always give you the information required. Any illegitimate broker will give the information in a more hazy format. In addition, the broker will awlasy avoid anything that deals with the government. This is because they are always ware they have not been registered and this may land them into deep trouble.

The details of a good broker is always open for everyone to see. It is either online or in their offices.

3. Platform used for trading
God traders know which platform to use for trading. Some softwares have loopholes and hence easily hacked by hackers and leads to a loss. The software used by many reliable forex brokers is usually easy to use even by a layman. On the other hand, you need to do a research and know the softwares that exist too. Avoid to easily get conned. Poorly designed interfaces of programs should be avoided.

4. Research
This is usually overrated. However, it is the backbone of every point. Kindly do your research and not only just mere research but an in-depth research. Always ensure you know legit brokers and brokers to avoid. This is easily accessible when you go through some customer reviews. Some of the question you should ask yourself are:-

• Know if the broker is registered. This can be easily accessed online.
• Know how much the broker will gain and how you will gain from the transactions.
• Be aware that you will not start trading with money. You have to sit down with the broker and strategize on how you will make huge investments in the business.

5. Compare Brokers
It is good to check the different brokers in the market. Some brokers will charge higher and some will charge lower. I would recommend going for those who charge higher and doing a background check. This is because many who charge a lower fee are scammers and conmen. There’s always a fix rate which is used to calculate the exact fee one should pay. Many are however caught in the snare especially after hearing that a certain broker charges less.

6. Currencies Offered.
Some brokers offer so many currencies and this allows you to choose which one to trade with. It is always a good idea to find a good broker who has varieties of currencies. This works like a see-saw. Actually, the rise of one currency may lead to the drop of another and this is the best opportunity to sell one and buy the other. Such details are vital when working with an experienced broker.

Take your time before finding the best forex broker. It does not hurt to find the best with time. Be patient for nothing good happens in instance.

can someone tell me what brokers mean will appreciate it

the indicators of MT4 are meant for these markets not with BTC.