As of 2000 onwards more and more forex companies have made their appearance on the internet following in the trend and the movement of the forex trading market towards the retail sector. It is only reasonable that the increasing number of forex companies which nowadays offer more or less the same product has increased both competition and of course volume of traders which are taking their first steps in the online trading marketplace.
If you may already have been navigating around the internet searching for forex companies you most likely have realized and understood that the vast majority of forex brokers as they are predominantly called offer very much similar products and very much similar offerings with very small differences which are overall what separate forex companies from one another. Differences might be very small and they might seem irrelevant to newcomers of the online forex trading place but in reality as you develop to be a more advanced forex trader you will realize that certain policies adopted by even some of the most marketed forex companies can be a major disadvantage to your future as a successful online trader.
At trading-point.com we strive to offer an opportunity to all types of traders to gain the opportunity to trade in the forex market with high standard trading conditions. We have made a list of the most important features traders should be aware of when selecting a forex trading company.
Account Types
Starting from the basics depending on which forex company you decide to trade with you should understand that account type offerings vary as some forex companies offer a range of accounts addressing all major trading audiences in terms of budget where other forex companies address traders with generally larger starting budgets. Usual account types at the majority of forex companies range from Micro and go all the way to Executive which realistically vary in terms of service and offerings.
At trading-point.com we offer 3 types of forex trading accounts which can cater to all types of traders in both terms of minimum deposit and offerings.
Withdrawal and Deposit Methods
The available deposit and withdrawal methods at forex companies are very much different as depending on where each and every forex company is licensed and regulated and depending on the audience each and every company addresses the variety of deposit and withdrawal options vary.
Depending on what type of credit card you use or what kind of electronic wallet you feel more comfortable with using we would suggest that you choose a forex company that can cater to your prerequisites.
If the company you are thinking of issuing a forex trading account with does not really cooperate with any serious credit card processing and might offer instant execution types of funding like Western Union or Moneygram we would advice you to research further as although both of the above mentioned money transfer companies are very much reputable they do not address business purposes and cannot be kept responsible in cases of fraud or inconvenience.
As a licensed forex broker trading-point.com offers deposits and withdrawals through all major credit cards, through Neteller, Moneybookers and International Wire Transfers.
Execution Policy
Execution policy is one of the most important factors which we as more advanced traders consider a new trader should understand and comprehend before selecting which forex company to trade with.
At trading-point.com we are proud of our clean and transparent execution which from default is set to market execution similar to the interbank trading market therefore ensuring a Re-quote Free trading environment.
Instruments
In forex terminology the term instruments more or less translated itself to products or offerings which at the vast majority of forex companies include CFD’s on Future Contracts, Spot Metals, Currency Trading and CFD’s on Equities. A larger variety of offerings allows the traders to engage in more opportunities to make money from markets which are oppositely affected from one another and therefore diversify in to a range of products and moreover be extended more opportunities to acquire a profit. Offerings of instruments amongst forex companies vary as more instruments means complexity which in many cases smaller forex companies tend to avoid.
At trading-point.com we offer more than 120 trading instruments including Currencies, CFD’s and Futures which can be traded with the same high execution policy.
Swap Free Accounts / Islamic Accounts
If you are a Muslim trader you should understand that the forex company which you decide to trade with will have to be in compliance with Shariah Law and therefore offer swap free, interest free accounts.
At trading-point.com we offer swap and interest free forex Islamic accounts in full compliance to Shariah Law.
Expert Advisors
Last and important is expert advisors; traders that plan to use expert advisors or Forex EA programs should make sure that they select forex companies which permit the use of expert advisors as not all brokers permit their usage.
At Trading Point we allow trading with all Forex EA programs.
Finding the forex trading economy which is best for your needs is something you will be safely able to calculate only if you have totally understood the differences between forex trading companies themselves. As forex trading is not a game and it does require risk of monetary losses you should take the time and understand how forex trading companies vary and moreover how they make their profit in order to be safely able to come to a conclusion of which choice is the safest choice for you as a newcomer to the forex market.
