For someone who has just jumped into the world of trading, it will usually be confused with how to choose a broker. Each broker has its own criteria and characters which may not be suitable for some beginner traders.
Before we continue to choose a broker option, you must understand the types of brokers and markets so that you are not wrong in making choices.
Then what are the broker criteria that you should consider in choosing a broker option? Let’s look together.
Try checking whether your broker is regulated? And from countries where the regulation was issued.
The criteria for regulation of forex brokers in each country are not the same, and brokers whose parent companies are in a certain country must obtain regulation from that country. Traders must know which regulatory bodies are trusted and have provided regulation to the world’s top brokerages.
In addition, it is also important to know whether a broker obtains regulations from off-shore country that tend to be liberal or loose. Investors or traders must be careful of brokers who are not properly regulated, because thus all brokerage activities are not supervised and very not safe to invest.
Besides being able to be opened through a browser, most broker options have their own platform that can be downloaded and installed on a PC or on a mobile device / smartphone.
But you also have to check whether the price movements in the platform are in accordance with the market conditions, or even much different at all. How: you can download several platforms, open the same pair of currencies and try to compare their movements with each other.
If there is a price movement that is not in line with the current market, you should suspect it.
Most brokers circulating in Indonesia have a minimum deposit / deposit that is relatively small.
It usually ranges from $ 10 to $ 50 only. Of course this is very helpful for beginner traders, because it is considered not too burdensome.
Fund Deposit and Withdrawal Options
The deposit process (depositing funds) and withdrawal (withdrawal of funds) are usually processed through a third party.
There are a lot of third financial parties that can generally be used and accessed from Indonesia. However, there are some of the most popular ones including; Fasapay.co.id, Fasapay.com, Skrill, Neteller, and also directly through local banks.
The deposit process for the above options usually requires a short time.
For the withdrawal process, processing via a local bank is the fastest. It ranges from 1-3 hours only.
Those are some broker criteria that might be enough for you to consider as a broker choice reference that is right for you.
Hopefully it can help you to determine which broker is right for you.
That’s all and always greeting profit.