There are thousands of FOREX trading companies around the world.
So, which Forex company should you select?
This article introduces the seven key things to select a FOREX trading company.
- 1. Large maximum leverage
- 2. Small spread thanks to zero account maintenance fees
- 3. MT4 can be used as a trading tool
- 4. Easy to deposit and withdraw
- 5. Capital guarantee
- 6. You can rest assured with the support center
- 7. There is a compensation service to clear the negative balance of the initial capital
Large maximum leverage
The greater the leverage, the less capital you will need to trade. In addition, you can minimize the risk.
Maximum leverage will vary from company to company, from double to 1000 times.
Small spread thanks to zero account maintenance fees
Account maintenance will usually be free of charge for FOREX trading companies.
However, there will be the same cost as the trading charge called the spread. This is the difference between selling and buying.
There are also differences between USD and VND when buying and selling at banks. The term for this is called Spread.
Because each company has a different spread, it’s easier for small companies to make a profit.
MT4 can be used as a trading tool
MT4 tools are the world renown dominant FOREX trading tool
Because it supports trading smoothly with superior performance analysis, either customizedor automated trading.
In addition, even if you do not have a computer, just use your smartphone to trade.
Among FOREX trading companies, there are companies that can not use MT4 in their own trading software so you should choose a company that allows MT4 trading.
Easy to deposit and withdraw
It’s easy to deposit, but if its difficult to withdraw thenit’s not worth the effort to make money with FOREX.
In reality, there are also fraudulent FOREX trading companies around the wworld, so there are still incidents that the company does not allow you to withdraw money.
Choose the companies where you withdraw money conveniently.
“Capital guarantee" means that even if the company goes bankrupt, the customer’s funds are also preserved separately from that company , and Your money will be compensated.
You can be assured when dealing with companies that offer this policy, which is considered as insurance at unexpected times, and the number of companies providing this service is very limited.
You can rest assured with the support center
When you do not know anything or are having trouble with the money transaction, you will be rest assured if there are good support centers available.
Stay away from FOREX trading companies that do not reply to you even if you have emailed them.
There is a compensation service to clear the negative balance of the initial capital
In the previous section as I explained, when foreign exchange volatility is strong, even if the account balance is negative, the service company will not turn it into debt.
Foreign exchange fluctuations will occur several times a year, so definitely it is encouraged that you choose a company with a negative balance protection polocy that returns your account balance to zero for yourself.
You better choose a FOREX trading company based on these 7 things.
In addition, the number one FOREX company in terms of customer satisfaction in the world “XM Group" can satisfy all 7 conditions so I recommend you choose the right one you.