Forex Broker Review 2011
2011 Review of Forex Brokers
With all of the complicated pricing schemes, terminology, regulations, and trading technologies, selecting a forex brokerage may seem like an overwhelming task. Fortunately, our seasoned forex veterans spent hundreds of hours sifting through brokerage sites, downloading platforms, and analyzing spread data. The result of this effort is the most comprehensive and unbiased forex broker review available. Our ranking system breaks down and dissects seven major categories that brokerages should be offering their clients.
- Trade Costs: The transaction structure of the forex market is notably different than that of the equities, options, or futures markets. Our review not only explains what costs are involved, but highlights the solutions that are the most cost efficient.
- Platforms & Tools: With such rapid growth in both the forex market and technology, it's important to know what functionality is available for traders. We've reviewed the most powerful platforms and the newest tools so you know how best to empower your trading strategy.
- Research & Commentary: Quality research is hard to come by, but when it's made available, it helps traders make accurate and informed decisions about their trading. We've scoured brokerage sites and outlined whose research and commentary is most useful to a variety of trading styles.
- Education: A broker's educational material speaks volumes about their dedication to customers. If a broker can effectively educate and develop their traders, they create a winning situation for everyone. Within this review, we've outlined which brokers are best at developing both beginning and experienced traders.
- Customer Support: The 24-hour nature of the forex market demands brokers provide trading support around the clock. Required communication channels include phone, email, and live chat.
- Investment Offerings: A wide range of investment offerings give investors more complete control over their finances and more opportunities to make gains in otherwise inaccessible markets. The number of currency pairs, exotic currencies, metals, managed account services, and currency settlement services were all considerations lent to this category.
- Mobile Trading: Technological progression will place more and more emphasis on our smart phones and tablets. A broker's ability to stay technologically up-to-date is important to satisfy customers and be prepared for future innovation.
Within the past decade, forex trading has exploded in popularity among traders and investors. The foreign exchange market is a truly unique environment that offers an unprecedented hybrid of investment potential.
For traders, the lure of forex comes from the fast paced, highly leveraged, 24-hour market activity. For longer-term investors, the market creates an atmosphere that harnesses fundamental analysis and the ability to forecast price movement and exploit trending markets.
Regardless of your trading experience or style, our 2011 online broker review will help you discover and understand new tools, offerings, research, and find the best brokerage to give you a competitive edge.