The Best Brokers For Forex Trading

What are the best brokers for Forex trading? This is first question that most traders will ask when they start. Seems to be a simple question. Unfortunately the answers are not that straight forward. There are few consideration that we need to make before we can determine on the viability of using a particular broker. Let go through few key characteristic that can help out in making the important decision.

The most important part is to make sure they are regulated by the authority. For North America make sure they register with Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM) and a member of the National Futures Association (NFA). This ensure you are protected by regulation. Should the relationship with the broker turn sour, you should have some regulation to fall back.

Brokers are not created equal. There are advantages and disadvantages of each broker. What most important is to make sure the brokers meet your requirement.

Of course we are looking for the best deal. Find brokers that offer the best spread. Make sure there is no additional fee. Worth to note, we should not make the spread as one and only decision making point. There is few more consideration that we need to take into account.

Next major consideration is the brokers support. This is very important. Just imagine if you got stuck due to some software/server glitch and you cannot contact any of the support staff for help. It will drive you crazy. The best way to find out about brokers service is from forums. Look for forums that specialized in forex trading. Surely there are threads that discuss about forex brokers. There are good and bad remarks, so make sure to look into the comments in total.

Another important characteristic to consider is the software being used by the broker. Look for user friendly software. Some are using customize software, so not much support that you can get from third parties. However a common platform likes Metatrader provide extra advantages. There are lots of supports from the outside. Lot of “expert advisor” packages available for Metatrader. This add on package simplify the trading. In fact some of the packages can trade on your behalf, automatically.

The above point can help you on the selection. Do register with a broker of your choice, and use their demo account. This actual trading experience will provide you with all needed information about the broker. Only open the real account when you are comfortable with the brokers.

IvyBot Review – Special Features of the IvyBot – The Forex Trading Robot

With the dawn of the new technological trends, many robots reign the world of foreign exchange.The importance of these robots is that each one has its own special features that was intended to create a fortune for the traders. The latest invention in this line of robots is the IvyBot a Forex trading robot. This robot has already made heads turn in spite of it being relatively new to the Foreign exchange. Since its release in July 2009 the IvyBot is being much hyped about its performance in the Forex trading circuit.

The brain child of a group of Ivy League students, with its consistent and high level of performance IvyBot is gaining popularity. The IvyBot also shows a large win percentage during its recent trading sessions.This team has created IvyBot with many special characteristics but when it comes to trading counts does the IvyBot actually work? Though it underwent backtesting for eight long years the real challenge lies here in the live market. But so far the IvyBot
has shown a high return on the investments which makes it a positive trading session.

The IvyBot is versatile in nature allowing you to trade in four different currency pairs around the globe giving you more opportunity to trade.so four different robots clubbed into one trading in four different currencies. This also means that the IvyBot is actually working constantly to find the best trade practices since in currency trading if one currency loses the opposite currency gains making it always bullish in nature.

The distinct feature of the robot is that its been constantly updated by its developers. To make the best use of the opportunity in a fluctuating trade market the software is constantly being monitored and updated to produce better results. The updates come as a part of the purchase price of the robot all through the life time of it. A round the clock update is an important criteria in the fast changing Forex trade.

The robot seems to be user-friendly , as it can be downloaded and installed easily and requires less user intervention. There is a practice account with the product package in order to sharpen your trading skills without actively participating in it. On summing up the IvyBot seems to be very profitable for the usage of both newcomers and veterans in the field of Foreign exchange.