A forex broker is a firm or individual who offers trading services to people who want to buy and sell currencies. A forex broker generally provides a trading platform to execute trades online, and may include customized trading software for the client to use. Unlike other financial brokers who charge a fee to execute a trade, most forex brokers make their money off the bid-ask spread. Being able to see both sides of the market – bid and ask – the broker will sell and buy at a price that allows the brokerage to pocket the difference on the trade.Forex brokers are also known as a currency trading broker, retail forex broker and fx broker.
Retail forex brokers vary widely in quality. Some criteria that can be useful in researching and comparing forex brokers includes:
Many forex brokers offer free demo accounts to prospective clients, so traders can shop around to find a broker that meets all their needs.
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