Your trading success largely depends on which broker you choose. And not only the success of trading but whether you will at least get your money back if something happens. There have already been scandals many times when brokers leaked information about their clients or simply stole their money.
That’s why choosing a high-quality Forex broker Philippines is critical. Let’s discuss this in more detail in this article. There is also one example of a high-quality broker you may want to know about.
How to choose a high-quality Forex broker?
There is a certain list of criteria that play an important role when choosing a broker:
- Legality. The legality of a broker is indicated by the presence of a license from a regulatory body. The license number and the name of the regulatory body are usually indicated on the broker’s website, where you can sometimes find a copy of the license. If it is not there, visit the regulator’s website and find it there. This is extremely important.
- Reputation. A reliable broker always has a positive reputation. And ruining a reputation is easy enough – just one scandal that gets into the media and a few deceived traders can put an end to a broker. Be sure to study the reviews and read the news about the broker you are planning to choose.
- Availability and variety. What tools and trading options are available to you when choosing this broker? Will you be able to trade exactly what you need? Study
- Risks. Review the risk notices that are usually provided to you. This document describes things that can cause you to lose money.
- Terms. Carefully study the terms of the brokerage service. Here you should pay attention to everything – interest, commissions, terms for depositing and withdrawing funds, foreign exchange transactions, and so on.
Based on these criteria, you can choose a reputable broker. You can also add your own criteria if you like.
Briefly about FBS
If you do not have the time or desire to spend a lot of time looking for a responsible broker in the Philippines, we are ready to provide you with one of the best examples. FBS is one of the largest brokers that has been on the market for almost 15 years, and during this time has acquired an extremely positive reputation. And this broker has something to offer you.
- Full compliance with all the above quality criteria. You can see for yourself, it won’t take long.
- Ability to create a cent account and a cryptocurrency account.
- Possibility to create a “training account”. In this case, you will have access to all trading functions, all charts, and the full amount of up-to-date data. But at the same time, you will trade with “fictional” money, not a real currency. This will allow you to practice without risking a single cent.
- The base of theoretical information. You need to study the theory before you practice! FBS has an extensive and completely free database of educational materials that will help not only beginners but also experienced traders.
Whether to trust our judgment or not is up to you. However, we never recommend anything to our readers that causes us doubt. Use only quality brokers and good luck in the world of trading!