Traits of a Great Forex Broker

One thing you cannot avoid in the Forex game is the middle man for your investing ideas. He or she will come either from the bank or brokerage that you have attached yourself with and this usually means that they will be the person that you will be liaising with at all times. The whole function of the broker is to introduce you to the Forex market and guide you along so that you do not make any glaring mistakes and lose a lot of your hard earned money.

Of course this is the perfect situation, in a sense that not all brokers that you encounter might have these gleaming qualities about them. In reality, some of the brokers out there are under qualified, under trained and some of them have intentions other than helping you to circumnavigate the Forex market – helping both you and them make some money from the paper trade. There are some traits of a good Forex broker that you should look out for when thinking about this topic and this article will help to list some of them. One of the most important traits out there is open communication and the broker that you are attached with must be in constant dialogue with you at all times.

In every sense of the word, he must be the person that you are either chatting with or on the phone for every investing day that is. There cannot be a bridge of silence between the broker and you, and this is not a bridge at all. It is a cavernous hole in the ground that you will fall into when you realise that you are making mistakes in the market that could have been avoided if your broker had warned you about them. Let us reiterate this one more time – it is the broker’s job to talk to you in the initial stages and ensure that your time in the market is all well and good. It is his job to make sure you at least know the basics and have a foothold in the trading theorems before anything happens. It is their job to make sure that the foundations of investing know how and basics are there.

That is what you are paying for. They are suppose to guide you along the way and make sure that things go according to the step by step beginners plan before he or she allows you to make hay on your own. A broker is one that always gives you advice because it is in their bet interests to keep you in the game as long as possible. So this is really one of the most, if not most important trait that you need to look out for when finding a broker. It is all about that chemical connection the first time you meet them and understanding that there is a potential for an emotional, intellectual and technological grounds for open communication. This is the key that will lead you to some good money later on.

source: http://www.money-ex.com/Art/3136/268/Traits-of-a-Great-Forex-Broker.html