How to choose the right broker in the Forex market?


The benchmark for quality work in the FOREX market for financial companies is the great Western brokerage house. Serious investors choose them and, in the first place, for reasons of reliability. In many ways, these preferences are due to psychological reasons. The bankruptcy of the giants of the American and Swiss currency market has led many who operate currencies around the world, a new way of looking at the question of choosing a broker. So what should we look for when we decide to start cooperating with a financial company? Let's start with reliability. Reliable financial intermediary is generally considered as a broker with a long work history, license and is supervised by regulatory authorities, with:

  • a system of insurance of the responsibility of the clients,
  • a risk management system that works well within the company,
  • a legal transparency,
  • protection of contractual relationships.

At the same time, the company should still be quite respectable, although each of us understands this term in its own way.


What can the term of work in the market tell us?

In itself, the term of work does not guarantee anything: the large western companies mentioned above existed in the market long enough. You must understand well that it is a Forex broker and what it is for. However, the risk of losing money in a one-day business is much higher than that of a broker who provides access to their customers to the financial markets for more than a year. A long history of work is the refined mechanisms of risk management (otherwise, the company would have already gone bankrupt), qualified personnel, reliable partners, financial reserves, etc. In short, a company with a work history has advantages over newcomers to the market. Documents and regulatory bodies. Unfortunately, as the practice shows, the availability of licenses and the control of regulatory organizations, whether state or industrial, does not guarantee the security of your money either. However, this is a great advantage when choosing a broker.


It's worth paying attention to the licenses

First, the licensing process itself cuts the scams. The company is obliged to reveal to the state its owners, to provide legal documents, financial statements. In addition, the regulatory authorities in one way or another control the operational activities, the financial performance of the company. Second, there is always an organization where a client can appeal with a complaint or a grievance. Therefore, in the United States, brokers in the Forex market are supervised by the CFTC, a government commission in the state of a federal agency. In England, this is the FSA (Financial Services Authority). So, when choosing a broker, it pays to pay attention to the licenses you have, who issues them and for how long. In case of placing considerable funds in the corridor, it is not superfluous to ask what guarantees the security of your funds will provide to a broker.

Bitcoin and major cryptocurrencies rise in price today Sunday

For some analysts, the price increase is related to the new regulations in SurCorea, a very important crypto market.

A good Sunday for those who invested in the last days, when the prices of Bitcoin and the other crypts fell. Today both Bitcoin and the other digital currencies rose in price. News coming from Asia are, in the opinion of some analysts, the main causes of the rise. Let's see the performance:

When it's 11:30 am in New York, Bitcoin has a price of USD $ 6,862.69, 3.58% more than yesterday at the same time. Although the volume is not that high (USD $ 3.6 billion was exchanged on the last day), most of the movement comes from the Binance and OKEx exchanges (both in exchange with tether), followed by Bitfinex in exchange with US dollars. . In the fourth place is the exchange Zb.com with exchange between bitcoins and dash. The price increase started yesterday at night, as can be seen in the chart and since then it has remained.

Altcoins

Other striking increases are those of Ethereum at 5.41%, Ripple at 4.76%, Bitcoin Cash at 7.09%, EOS at 5.34%, Litecoin at 4.90%, Stellar at 3.61%, Cardano in 6.43% and IOTA in 6.93%. Of the top 100 cryptocurrencies 90 increased.



Draws attention to the growth of Tezos, the cryptocurrency that is ranked 19th CoinMarketCap and between yesterday and today rose 30.27%. As CoinDesk explained, the increase follows a fall and sell-off that coincided with the first listing of Tezos tokens on a stock exchange, which means that investors rushed to take advantage of access to liquidity.


Assumptions about the increase

Several analysts have given their opinions on the possible causes of the increase in crypto.

Among the factors, there are of course positive news. For example, South Korea announced that it is easing restrictions on all forms of cryptocurrency trading in all areas, including Initial Cryptocurrency Offers. In fact, DiarioBitcoin announced it a few days ago: crypto exchanges have been recognized as regulated banks.

Another reason is pointed out by CCN: the success of the Lightning network, which increases every week. According to that medium, 20 new stores per day are accepting payments through Lightning.

The third factor is related to how the so-called "cryptographic whales" affect the market, that is, large purchase orders for Bitcoin that impact the current price and the previous drop.