You could be unsatisfied with your present broker, or be a new trader. Looking for the best forex broker is not easy. You want them to provide a good service, and let you focus on trading.
One thing you need to succeed is a broker that is interested in helping you develop into a successful trader. This firm should make available for your use, the same tools institutional traders have.
It is difficult to know how many brokers there now are in this competitive market. There are 181 listed in one guide. Comparing them is difficult. We will use, AskOBid, as a case study here.
Our first step is to do Internet searches. Various sites have reviews. Some popular search results rate AskOBid at or near the top of their list. As we go down the search results we start to find reviews that don't even mention the firm in the top online brokers lists. It could be that there is bias or conflict of interest involved. Some reviews seem not to be authentic, or are promoting certain brokers.
We can see that AskOBid is called a new broker with an established industry name, due to high reliability quotient. A lot of searching finally reveals how new. They were established in 2010. They are located in Cyprus and are regulated in Cyprus, Australia and Europe.
After digesting the information found in the reviews and trader comments, it is time to look at the website. They present a polished professional image there. The site is fabulous, but with some parts that have some English grammatical errors or gaps. This could be explainable with a new, fast moving firm. Everything you could be looking for seems to be easy to find and is presented in a to the point, straight forward way.
Looking at the important features, we see two different trading platform are available. They have their own proprietary platform, featuring three different viewing sections for varying levels of trader experience. The popular Metatrader 4 platform is also offered. A 21 day demo account is available. They use real time trading.
Their AskOBid Academy and their webinars are highly rated. They seem very motivated to help traders to succeed. They trade professionally themselves and deliver alerts and signals relating to their own positions directly to your platform, 24 hours a day. They trade using their own money and use institutional trader action patterns.
The 24 hour telephone support centers in 20 countries are well liked. Three types of accounts are available. A 100 USD minimum deposit is required. Rewards of 10% to 1,000 USD through 30% to 30,000 USD are paid on first deposits. The spread is 3 pips. There are 30 secure options for payment, including credit card. Some traders have complained of withdrawal delays. This is attributed to the high degree of regulation in the Cyprus financial industry, and high standards for security.
It is not possible to say whether AskOBid is the best forex broker. They definitely have some strong points. After looking at what information you can find, try the demo. User preferences play a large part in satisfaction level.
We've identified the best forex broker that can help you with your trading. Learn more by visiting the forex trading system education website of Rudolf Boquiren.
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By Rudolf Boquiren
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