If you are actively trying to find or choose the best forex brokers in the market, you must already know it’s not easy to find the best forex broker. Because ‘Best’ in Forex is defined by its own terms and not necessarily by the quality of service which almost every so-called “top forex brokers” willingly provide.What makes the situation even worse is that a majority of novice forex traders don’t even know the consequences of trading with supposedly the “best forex broker”, who eventually turns out to be just a reverse market trader. Do you know what that means? It means many novice traders are running a race they can never win.
Now you want to know how to make a shortlist of best forex brokers. Dealing desk brokers act as another entity between your trades and the actual market. So, dealing desk brokers have full control over your positions.Unlike other financial markets, forex does not have a central body to regulate rates and data. This makes forex a truly dynamic market which provides talented investors a nice opportunity to thrive. But, and this is a huge ‘BUT’, this very nature of the forex market is being heavily exploited by few greedy brokers to profit at the expense of unsuspecting innocent traders.
Just because a broker claims to be a non-dealing desk, does not necessarily mean the broker actually operates in a non-dealing desk environment. Do everything within your reach to verify that your list of best forex brokers includes only non-dealing desk brokers.Do you need a simpler solution? Use ECN forex brokers. If you are still in the phase of choosing the best forex broker, then you probably are new to forex trading. Top forex brokers who offer genuine ECN forex accounts may demand relatively higher initial deposits for ECN accounts. So smaller forex accounts in ‘micro’ or even ‘standard’ sizes, usually will not be offered as ECN accounts, even if the broker is an ECN forex broker.There are many sorts of Forex brokers, sometimes it is a bit difficult to choose from. How to find the perfect one for you is the big question. Depending on the requirements, there may be different forex brokers suitable for different people. So let’s find out.