Trillions of dollars zip around the world’s financial markets 24 hours a day, five days a week, making the foreign exchange (forex) market one of the most active. It’s also a place where fortunes can be made and lost, because forex trading involves speculating on the future direction of currency prices. To avoid being taken advantage of, choose a broker that’s regulated by a recognized authority and offers an easy-to-navigate platform. It’s also a good idea to start out by using a demo account, which lets you trade with virtual money and practice your strategies without risking real cash.

There are many factors to consider when choosing a forex broker, but some of the most important include regulation, customer service, platforms, fees and range of instruments. Look for a broker that has been in the industry for a long time, as this indicates stability and reliability. Also, check whether the broker supports your preferred payment methods. Read more theinvestorscentre.co.uk

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A forex broker that claims to offer ‘free signals’ should be avoided, as this is a common scam that lures in new traders with promises of consistent profits. Instead, stick with brokers that provide reliable market analysis and educational resources. IG Markets, for example, is an excellent choice for beginners because it’s a regulated broker that accepts American investors and has a web platform and mobile trading apps. Its fees are low, and it offers spreads as low as 0.8 pips on major pairs.