How to choose a forex platform? You need to pay attention to these four points.
1, The security of funds
First, what agency regulates the platform? Does the regulatory number match the name of the institution? Confirm the history of complaints and the platform’s reputation on the regulator’s website. Official forex companies are subject to regulation, the most preferred regulators are the National Futures Commission (NFA) and the U.S. Futures Trading Commission (CFTC). Next is the Financial Services Authority (FSA), it is important to first understand whether the dealers they represent are strictly regulated.
2, Check the strength, the net assets, and other cases of the platform provider.
MM model platform providers are hedging and betting with their clients. If the platform massively loses to the customer and can not afford to lose, the platform with small capital strength will go out of business, and eventually, the customer still suffers the loss. After all, the money earned from laborious manipulation will not be used in the end! So the U.S. financial regulators began to reshuffle. The net asset of platform providers should reach $15 million by January 2009, and the net asset of platform providers should reach $20 million by May 2009. Those who did not come will be washed away, so far the platform provider whose net asset can get $20 million is less than 10, the latest statistics reported on the Forex website.
3, All official forex companies in Hong Kong are only allowed to provide a leverage ratio of 1:20.
If the leverage ratio of Hong Kong forex platform providers is beyond this, there is no need to consider; Official forex companies do not accept deposits and withdrawals from third-party accounts.
4, Understand the practicality of the platform clearly.
Platform stability: Will it frequently fails to connect, or will the platform programs crash at critical moments? Does it slip? How fast is the transaction speed? Are there any hidden mines on the platform? Through a period of simulation, you should understand these issues from the authoritative forex forum and friends who have used this platform and most forex users to deepen your understanding in many aspects. Do not only listen to the agency or the broker dealer’s words! Otherwise, you are the only one who suffers, losses and losses again, eventually resulting in the blowout of stock.
