The opportunity to make good money on Forex today attracts many people, but, besides actually having its own strategy for trading, for a good earning in the foreign exchange market it is necessary not only to work out the trading technique, but also to choose a good broker.
Unfortunately, today, many companies that offer their services through the Internet, are the so-called dealer or brokerage centers. In other words, such companies are not suppliers of quotations, they do not have any financial licenses, do not provide information about their share capital, are not subjected to audits and so on.
Dealing centers may not be registered anywhere, or they receive documentation in offshore countries. What does it mean? This means that the company can at any time disappear without a trace along with your money. It will be impossible to prove anything and return the invested or earned money – you simply have nowhere to turn.
It is precisely the high risks, and not only trading ones, that scare away many people who, therefore, are distancing themselves from trading in the international foreign exchange market.
Why is it worth trading on Forex through a bank?
However, today there is a way out of this situation – trading on Forex through a bank. Banks are registered in European countries, have financial documents and the right to supply quotes. They provide good trading conditions, do not work with electronic payment systems, as do many dealing centers, and so on. Naturally, banks will require from you documents that prove your identity, but thanks to this you will be able to work in the market directly, and not through intermediaries, which are brokerage centers.
Among the obvious advantages of banks should be called: – a high level of reliability (availability of legal address, licenses, regular audit checks, which can be used to assess the real state of the bank); – security (do not worry about the bank disappearing without a trace). Of course, not a single bank is insured against bankruptcy, but the risks are several times smaller, and the bankruptcy procedure itself often involves a refund of at least part of the funds; – correct execution of orders. Banks do not mislead their customers and quickly carry out orders, providing you with maximum opportunities for good earnings in the financial market, regardless of the strategy used.