What Is The Best Forex Site?

Investors who are considering trading in the Forex market are especially curious about the answer to the question of which is the best forex site. To answer this question, it is necessary to investigate which is the best forex company. In our article, we will evaluate the forex companies from an objective and professional perspective and talk about which issues should be focused on the most.

What Is The Best Forex Broker?

With Forex, you can earn money by investing in foreign currency, commodities, foreign stocks, and indices through online platforms. To invest in these platforms, it is necessary to open an account with a forex company. Some important criteria should be emphasized to choose the best forex company for account opening. So what are the main criteria to consider when choosing the best forex company? Let's examine it together.

1-License Certificate

The license certificate is a valid certificate issued to forex companies by the reputable audit institutions of the countries. Forex companies must have pre-regulated standards to obtain these license documents. Some of these standards can be financial criteria such as equity structure.

Companies with license certificates stand out in providing both reliable and accurate service to their investors. Since licensed forex companies are audited periodically, they have to keep their terms of service up-to-date and by the legal framework. For this reason, the priority investors should pay attention to when choosing the best forex company is the License Certificate.

There are also illegal forex companies that we call under the stairs without a license certificate. However, for investors to legally seek their rights regarding technical malfunctions and similar problems that may occur as a result of their transactions, they should be careful about choosing forex companies with license certificates.

There are important regulators such as FSA, FCA, and CySec, which are licensed by audit institutions in foreign forex companies. Accounts opened in foreign forex companies with this license document also offer legal transactions to their customers. Therefore, the main criterion for forex company selection is the license certificate.

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2-Deposit and Withdrawal Speed

Another important criterion in choosing the best forex site is the deposit and withdrawal transactions. After opening a Forex account, the first action to be done is to deposit a deposit into the account. With deposited deposits, trading can be made using leverage rates, so forex brokers need to offer more than one bank account option to their investors for deposit and withdrawal transactions.

To start investing, forex brokers must also have a fast deposit speed. Customers who are continuing their current transaction but want to add a deposit to their account due to the margin shortage want their transactions to be carried out very quickly in order not to stop out. For this reason, when it comes to depositing money, forex companies need to make transactions as fast as possible, even within minutes.

While the deposit process is important when choosing the best forex site, the withdrawal process must be performed quickly with the same importance. Especially in the research of the most reliable forex firm, it is examined how fast brokers pay their customers. If the company does not want to give your profit or makes you wait for withdrawal, you need to reconsider the decision to work with this company.

3-Leverage Ratios

Leverage ratios, which allow transactions with a higher volume than the investment amount, vary by country and company.Trading volume is taken into account when calculating Forex profit and loss.

Since leverage ratios determine the trading volume, this directly affects the profit and loss at the end of the transaction. Therefore, it is necessary to use a high leverage ratio when opening transactions with high-profit expectations.

Leverage rates can increase up to 1: 3000 in foreign forex companies. High leverage ratios can provide investors with high profits as well as high loss risk. For this reason, it is necessary to be careful about the leverage ratio in the selection of the best forex site.

4-Spread

The difference between the bid and ask price of a financial instrument is called a spread. The spread rate is determined by forex brokers by performing cost analysis. Many forex companies offer their investors the prices they receive from abroad with the application we call STP.

The expansion of the STP study, on the other hand, represents companies that reflect the prices they receive from foreign banks to their customers and do not have a market risk by opening counter positions, ie that do not have a market maker feature. For this reason, these companies can offer their customers a spread rate within the prices they receive.

Market makers, which we call ECN, set prices at their dealing desk. For this reason, it can offer its investors a very low or even 0 (zero) spread. However, it earns income by deducting a separate commission from each transaction made by the investor.

In the Forex market, when investors enter a position, they start trading with negative as much as the spread rate. The lower the spread rates, the more likely the investor to make a profit. For this reason, brokers with the lowest spreads should be preferred in the selection of the best forex firm.

5-Training and Analysis Support

Training and analysis support becomes very important, especially for new investors starting to trade in the forex market. Free forex training, which can be requested from the company during the account opening phase, and basic, intermediate, and advanced level training can be given by customer representatives. If you wish, the training process is managed in the office environment or by contacting on the phone via a remote connection to your computer.

Since the training is given on free demo accounts, it is possible to practice a lot before starting to invest in a real account. In this way, there is a chance to gain maximum profit from forex transactions. Besides training, forex analysis also plays an important role in the selection of companies.

For investors who want to receive daily or weekly information about technical analysis and fundamental analysis, analysis sharing by phone or mail is very effective. Taking advantage of forex analysis before deciding to buy and sell in pairs prevents entering the wrong position. For this reason, it becomes important to start investing in companies that offer free training and analysis support.

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6-Customer Service

Forex market offers its investors the opportunity to make online transactions 24 hours a day, every weekday. Providing customer support within this transaction period becomes very important for investors who want to reach the company. Timely access to the company for both forex analysis and deposit and withdrawal transactions makes it one step ahead of other companies.

Forex transactions are carried out very quickly and safely through customer representatives who are specialized in the sector by developing themselves and who can communicate professionally and well. For this reason, when choosing the best forex site, it is recommended to choose among those whose customer support is fast and quality. Especially, a forex firm that can be reached 24 hours a day on weekdays, when the market is open, stands out among its competitors.

Summary

To answer the question of "Which is the best forex site", if we summarize the above-mentioned titles one by one;

Forex companies with License Certificate-License certificate should be preferred.

Deposit and Withdrawal Speed - Forex companies with high deposit and withdrawal speeds should be preferred.

Leverage Ratios - Forex companies that offer a leverage ratio suitable for their investment strategy and personal risk profile should be preferred.

Forex companies with a low spread- Spread ratio should be preferred.

Training and Analysis Support - Forex companies that offer free training and analysis support should be preferred.

Customer Service - We can say that forex companies that can be reached 24 hours a day on weekdays and offer expert customer service should be preferred.

If you specify the companies that meet the above-mentioned characteristics in the comments section among the institutions you work with, it will be a good example for the question of "which is the best forex company" especially for investors who are just starting in the forex market.

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