subject: Introducing Brokers can help new traders enter the Forex world [print this page] Introducing Brokers can help new traders enter the Forex world
Perhaps one of the most convenient ways to enter the Forex currency trading market is through an Introducing Broker. Introducing Brokers have been vetted by brokerage houses and know the industry well.
Once you have an Introducing Broker, they will direct you to a trading broker. That broker usually conducts business on your behalf and offers new and long-time traders a range of services.
There are three types of brokers out there, and you can partner with one depending what you are looking for and what they have to offer.
The first type is known as a full-service broker. This type of broker gives clients a number of tools and information necessary to make informed trades, and also to develop trading strategies.
The second type is known as a discount broker. They differ from Full Service Introducing Brokers in that they only handle trading, and don't usually offer anything else.
Finally, there is the Forex Introducing broker. Introducing Brokers offer a combination of services usually offered by full-service and discount brokers. They acts as the customer support of the trading firms. The real trading is done by the client, while the introducing broker takes care of client needs.
There are many advantages to using an Introducing Broker. Even for traders with small accounts, these types of brokers can offer the customer service usually reserved for big-money clients. With some trading firms, small traders get little attention when they seek help or make a complaint. But if you signed up with the trading firm through an Introducing Broker who handles large accounts, the firm is more likely to take your concerns seriously.
Additionally, Introducing Brokers are paid per trade that their clients make, so they are likely to offer you discounts and other incentives to get you to sign on. If you're new to the Forex market, it is a good idea to enter that world through an introducing broker you'll get services and all the added advantages not offered by other types of brokers.
When looking for an Introducing Broker, ask lots of questions. That way, the broker can help you dispel any doubts you may have.
