GuideWho Are Brokers in Forex Trading?
Before you place a single trade, you need someone to place it with. Learn what forex brokers really do, how they make money, and how to pick one you can trust.
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About this guide
Every trade you'll ever take goes through a broker, yet most new traders pick one because of a bonus or a friend's recommendation. In this guide I walk you through what a broker actually does for you, how they get paid on every trade you place, and what separates a broker you can trust from one that will make it hard to get your money back.
What's inside:
- What a forex broker is, and why you can't trade the market without one
- How brokers make money: spreads, commissions, swaps and the small print
- Dealing desk brokers (market makers) and the conflict of interest you should understand
- Non-dealing desk brokers: how STP and ECN execution really work
- A side-by-side comparison of the two, so you know which suits you
- Regulation: the protections to look for and how to check a licence in two minutes
- Leverage and margin explained simply, with an example of how fast it can go wrong
- The red flags I want you to watch for, and my personal checklist for choosing a broker
It's a 10-page illustrated PDF with simple diagrams, worked examples and a glossary of the terms you'll keep hearing. Perfect if you're just starting out, or if you're about to open your first live account and want to get it right.