What Role Does The Best Forex Brokers For Beginners Play?

Professional customer service must be equipped before and after-sales with so many markets and customers — the best forex brokers for beginners.

  • The best forex broker for beginners is an intermediary that introduces customers to foreign exchange transactions. It does not buy and sell foreign exchange itself but only connects buyers and sellers to facilitate transactions. The income of best forex brokers for beginners is obtained by charging foreign exchange trading spreads and handling fees, and they do not bear the transaction risk themselves.
  • In the international foreign exchange market, based on each standard lot (100,000 US dollars, which is also the basic unit of foreign exchange transactions), 1 point represents 10 US dollars.
  • The foreign exchange margin is traded at 100 times magnification; in other words, one lot can be traded for every 1,000 US dollars. Let’s take a customer account of $10,000 as an example to calculate the monthly rate of return of the customer’s broker.
  • Let’s take a customer account of $10,000 as an example to calculate the monthly rate of return of the customer’s broker. If the customer places an order based on the ratio of 2 lots of 10,000 US dollars and makes 3-5 transactions per day, the percentage of one-month spread income is:
  • 0.5×10×2×3×20/ 10000=6%0.5×10×2×5×20/ 10000=10%, that is, the broker’s spread income is 6%-10% per month.
  • Since the buying and selling spreads exist objectively, we might as well call the spread income of foreign exchange brokers “fixed income.”
  • If the best forex brokers for beginners adjusts the client’s commission to 3 points or place an order based on the ratio of 10,000 US dollars for two lots and makes 3-5 transactions per day, the monthly commission income ratio is:
  • Since it is up to the best forex brokers for beginners whether to adjust the commission and how much to adjust, we might as well call the commission income of a foreign exchange broker “floating income.”
  • Therefore, the monthly income of a Forex broker is equal to 6%-60% of the total amount of client funds he introduces.

Jobs of best forex brokers for beginners:

  • Assist clients in registering and opening an account on the foreign exchange platform; Help customers communicate with foreign exchange brokers and understand various policies;
  • Assist customers in conducting trading transactions on trading platforms such as Forex4money quickly; As you know, trading in the foreign exchange market is hazardous, so not everyone can do business with big banks in big financial centers. They only want to do business with reputable people. Therefore, foreign exchange brokers have a role to play.

Requirements for best forex brokers for beginners

Online Forex Account, What is Forex Trading, Different types of Forex Accounts, Check Here
  • To improve foreign exchange knowledge, basic knowledge is necessary. It is recommended to read some entry-level foreign exchange knowledge books, or you can collect information on the Internet.
  • Choose a mainstream platform (if a formal institution supervises the platform, it means that their operation and capital flow are more severe and standardized, ensuring investors’ safety.
  • Today, every industry has encountered an inflection point, and it is the best time to cut in. What determines a person’s final height is often not the starting point but the inflection point, and opportunities are at the inflection point!
  • The foreign exchange market is an excellent investment. It is the most significant investment market globally, and it is also the only market without bookmakers’ control. All news is open and transparent, and it is also the only clean investment market in the world. In such a market, you can fully play your trading skills, plan your capital management, and achieve stable profits.

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