Easy Forex.Com is the 2nd most visited site on the internet related to the Foreign Exchange Markets (FX) and overall the 5,542 most visited site on the internet according to the latest updates. Base on these facts I decide to investigate them and detail my findings.
Selecting a FX broker is as essential element in determining if a private trader will ever become a successful trader or remain as one of the 95% of investors that enter the currency exchange markets whom are never able to make money. There are many factors to consider when making this difficult decision. Some of which are; support, trading software, educational tools, managing risk, hidden cost, PIPS, and allowable margins.
I personally think that support is one of, if not the most critical elements when I am dealing with any financial institution online. In the past I have deposit funds into my trading account which were removed from my bank account and never showed up in my trading account. Or the other way around, I would withdrew funds from my trading account into my bank and they were never was transmitted to my bank account. I don't know about you, but when something like this happens to me I want to get somebody on the telephone right away. At Easy Forex.Com you are assigned account manager whom knows you by your first name, which always helps, that you are able to contact over the phone, through email or over an online chat system. Even it the account manager is not there you are always able to get help 24 hours a day, 7 days a week.
The next factor I take into consideration is the trading platform or the company's software. If you have been doing this a while, it only takes one time for a server to go down to understand how important this. There you are getting ready to initiate a trade, purchasing a position or selling a currency and the firms servers goes down. The first thing I do is get them on the phone and ask, what is happening? And I really just don't want to hear what I have heard so many times in the past, which is our server will be up in 10 minutes after we reboot it. I don't care if you have really low PIPS, if you can't afford a second server and be up constantly I don't want to trade with you. At Easy Forex.Com you are not required to download their software which means you are able to trade in real time anywhere in the world and their sever is never down. Well, I am sure it goes down sometimes, but it has never happened to me. They have multiple servers and are able to manipulate them in such a way you are always able to get into your account.
Almost all of the online brokers provide you free learning materials and a demo account once you have filled out the application for an account. You don't have to deposit funds, but just fill out the application. Easy Forex.Com is no exception. I have been trading a while, so I don't really use the training support to much. After I reviewed the tools and videos I found them to be on par with any of the other major brokers, if not better. With either the real money account or demo account you are able to put in Stop-Loss and Take-Profit rates. This is an essential element in managing your risk. There are no hidden cost and you only pay the PIP's which are some of the lowest in the industry are. Another risk management tool is your ability to control your margins. All Forex brokers will provide you with margins which are a form of leveraging your investment. Unfortunately, for the beginner the margins provided by the many brokers are too high, and sooner or later your in over you head. At Easy Forex.Com depending on your experience and your investment the initial margins supplied to you is often at the lower end. But, you are able to adjust this once you feel more comfortable which helps you to manage your risks.
Selecting a Forex broker can mean the difference between being a profitable trader and one that is in for a long learning curve. It is just so important that you thoroughly understand all the consequences of choosing the wrong broker and some of the assets to examine when making the final decision. There is a reason Easy Forex.Com is visited so much on the internet and they are one important site to consider when opening a currency brokerage account.
William R. Alheim, Jr., CPA, MA - for reviews of the TOP Forex Brokerage Firms visit http://www.tradingforexreviews.com/ - Good Luck! I look forward to seeing you on the trading floor making money! |
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