So if we imagine the Forex market then is that lots of different participants, such as major banks, central banks of governments and investm...
So if we imagine the Forex market then is that lots of different participants, such as major banks, central banks of governments and investment banks and investment companies and other normal companies that need to conduct a foreign exchange transactions in these all the major players all of the foreign exchange market, and they constantly transact with each other and they always transacting very very large amounts of money we're talking of billions of dollars here and so together they comprise the Forex market. So how does a person such as you and me get into this Forex market?
We even if we have a deposit on account of $50,000 and more likely than not, it's often less than that, even with such a large deposit is hard to get into a market where an average transaction is several billion dollars and the daily volume is measured in trillions of dollars, so how can we get there.
That's where the broker comes into play. A person such as you and me will go to the broker and the broker will also work with a lot of other people.
Individual traders who will also go to this broker and the broker will then aggregate all these transactions and send them to a bank so broker has an established relationship with the bank and because it can scale up all of these little transactions that all the clients of the broker conduct, then the bank is more willing now to work with the broker.
There are many different types of brokers and different types of relationships between the broker in the bank and they include market maker brokers STP brokers ECM brokers and so on.
However, at the end of the day. The concept remains the same as single individual person cannot gain access to the Forex market, and has nobody to transact with butter broker can facilitate access to the foreign exchange market to each one of us by scaling up our transactions over the post decade brokerage services have become very competitive and there are lots and lots of brokers out there and this makes it very important to select the right broker for your trading and if you're new to the foreign exchange market.
I recommend checking out my review which I did a couple weeks ago on my website.
So in this review, I compare the top three brokers that I've ever worked with in my 7+ years of foreign-exchange experience.
You can see here that it says best Forex brokers for algal trading and as because my trading is predominantly comprised of algorithmic trading systems and Forex robots.
However, this review can help you select the broker even for manual trading because only one of the brokers I talk about is dedicated solely to algorithmic trading and other to, you can both use of Forex robots in them or you can trade manually and I've tried and tested them and they are reliable.
So if you want to check out this review. Just go to www.forexboat.com/brokers and when you read this review.
You will notice that for each one of these brokers. I specify exactly how many funds I have held with them at the maximum and how much money I have withdrawn and how they have gone about processing those withdrawal requests, and so this serves as proof of their trustworthiness.
I'm pretty sure that this review will be worth your while.
Because it will help you avoid the national mistake most beginners make when they select an unreliable broker who basically trades against them and makes them lose because of that.
On that note, I'm going to finish this tutorial. Thank you for your attention and I look forward to seeing you next time. Until then, happy trading
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