The full-fledged work of an individual trader in the Forex market is simply impossible without the participation of a broker. To trade currency and other exchange-traded assets, you need a clear plan of instructions, which is very difficult to draw up on your own without the appropriate knowledge and experience. Thus, one of the conditions for successful trading is the right choice of trading platform.
There are hundreds of forex brokers in the world, so you need to be careful when choosing one of them to avoid fraud and other malicious activities.
DotBig exchange is an online broker that offers access to a wide range of tradable assets. This company will become your reliable guide in the world of Forex trading.
Forex Market: Brief Facts
Forex is a multi-currency market. In terms of turnover, it is one of the largest in the modern stock market. The underlying asset is a currency pair. In addition, investors also use derivative financial instruments. If we talk about private investors, these are futures and options.
Here are a few basic things to know about Forex:
- Forex is a global market for the exchange of national currencies. Direct entry to an individual is closed there, but to get here, a trader needs an intermediary, for example, a broker.
- Forex currencies are traded against each other in pairs of exchange rates. For example, EUR/USD is a currency pair for trading the euro against the US dollar.
- There are both spot (cash) and futures markets on the market, providing forwards, futures, options, and currency swaps.
- Market participants can also use Forex to hedge risks associated with fluctuations in international exchange rates and the event of changes in interest rates, speculation on geopolitical events, and diversification of investment portfolios.
How to Choose a Broker
So, how do I recognize a reliable trading site? There are basic criteria:
Clear identification
A reliable broker provides complete information about the company. It should start from the date of foundation, the company to which it belongs, and end with the location of the office – all this should be indicated on the official website.
When a broker has transparent identification information, clients are confident they are dealing with a legitimate organization. A reliable broker offers a full set of communication tools, including online chat, email, phone calls, and an official visiting address.
High-quality support service
A reliable broker, such as the DotBig trading platform, should provide clients with various ways to contact customer support, including:
- Phone call
- Fax
- Live chat and so on.
Live chat, in particular, can be helpful when a trader needs quick help to solve technical problems when trading.
Trading terminals
The most common trading platform for Forex traders is MetaTrader. However, some brokers may provide their services on other platforms. It is good if it works smoothly to execute orders quickly with a set of technical analysis tools.
Demo account
It is a free account that can be used to test the broker’s website without depositing real money.
Payment gateways
Choose a broker that provides a wide withdrawal method ranging from the most traditional, such as bank transfer, to electronic payments, such as PayPal, Skrill, and Neteller.
DotBig is the Broker of the Future
It will be helpful for new DotBig clients to learn about the conditions of success in the future that the exchange provides:
- DotBig is available on all devices
DotBig broker perfectly understands the dynamics of changing traders’ needs. Therefore, the exchange comes with several types of terminals. For example, a client can download a trading platform to a PC and use it there. If an investor wants to track price changes in the Forex market from his smartphone, he can download the software to a mobile phone.
- A wide range of assets
The larger and more diverse the assets that you can trade with a broker, the better. On the DotBig trading platform, traders get access to all existing financial markets. Of course, stock trading is a great way to make money, but it shouldn’t be the only way to make money in the Forex market.
Users can trade currency pairs with DotBig Forex, indices, commodities, etc. And all this comes with excellent leverage and average spreads.
- Low entry deposit
This is another advantage of the exchange, which has already been appreciated by clients according to the DotBig reviews. There are not many trading platforms today where the initial deposit for new customers would be below $200.
In this sense, DotBig Forex is very attractive for investors with a small budget. The broker has set a minimum deposit of only $100.
- Customer support service
To trade on the Forex market for more than one year, you need to be confident in the quality of the service and the level of customer orientation of the broker. Customer support is an important factor affecting, among other things, the exchange image.
The DotBig exchange site managers are available at any time of the day or night. Valid communication channels: email, phone, online chat.