What do you think are the core competitiveness of a good broker?

I have worked in the foreign exchange platform for three years, and I think I am more qualified to answer this question. Let me briefly explain it from several angles.

a. safety

The most important feature any good broker must have is actually advanced security.

Obviously, you wouldn't give thousands of dollars to someone claiming to be legit, would you?

b. Transaction costs

No matter what kind of forex trader you are, believe it or not, you will always be subject to transaction costs.

Every time you trade, you either pay a commission or the spread, so it's only natural to look for the cheapest and most affordable spreads.

Sometimes, you may need to compromise between high leverage and being more trustworthy, but make sure your trade requires tight spreads and evaluate the options available.

It's all about finding the right balance between low transaction costs and security.

c. Withdrawal and deposit

A good forex broker will help you deposit and withdraw funds hassle-free.

Most of the time, there is no reason for a broker to make it difficult for you to withdraw your profits, because the only reason they hold your funds is to facilitate trading.

Brokers are holding your hard-earned money just to make your trading easier, so there is no reason why it should be difficult for you to reap the profits you have earned. Brokers need to ensure that the withdrawal process is smooth and fast.

d. Electronic trading platform

In online forex trading, most of the trading activity takes place through the broker's trading platform, which means that the broker's specific trading platform should be stable and user-friendly. When looking for a broker, be sure to determine what its trading platform has to offer.

Will it offer a newsletter subscription?

What about easy-to-use charts and technical tools?

Does it give you all the details you need to trade effectively?

e. Customer Support

We know that not all brokers are perfect, so it is very important to choose a brokerage service that you can easily communicate with when problems arise

just say so much

In my opinion, the core competitiveness of a good foreign exchange broker should be reflected in the following three aspects:

1. Regulatory license.

China's foreign exchange market has passed the early stage of exploration, and market participants generally recognize that regulated platforms have a relatively good trading environment and financial security. It can be said that compliance regulatory licenses are the basic entry threshold generally recognized by the industry.

2. Sales ability

It is undeniable that sales ability is also an indispensable market competitiveness of foreign exchange brokers. Any brokerage institution is inseparable from an excellent sales department. At present, the competition among mainstream foreign exchange brokerages generally tends to build excellent sales teams and marketing teams, and formulate good incentive mechanisms and background management.

3. Fund security

Fund security is the premise of all investment. With the development and growth of the foreign exchange industry, all kinds of black platforms that pretend to be innocent and innocent have emerged one by one. If an investor accidentally chooses a black platform, and even the basic security of funds cannot be guaranteed, no matter how superb your technology and keen intuition are, you will end up with nothing in the end.