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Tag: best forex trading brokers in kenya

An Online Guide to Forex Trading Platforms

Forex trading involves the buying and selling of currencies in the global financial market. Trading is done through computer software that is known as a forex trading platform. 

This software is offered by forex brokers to their clients. With the help of these platforms, investors can trade currencies from the brokerage company's computer or their home computer.

Online trading in South Africa provides various features such as:

• Show updated bid and ask rates on your computer screen

• Provide all technical information and analysis.

• Provide historical price fluctuations of each forex currency with the help of charts, bars, and lines

When you open an account with a forex brokerage, they give you a username and password. After downloading the software to your home computer, you can log in with your username and password and trade forex. MetaTrader 4, Forex Funnels, Turbo, and Forex Tracer are the four most used platforms on the market today.

MetaTrader 4

It provides technical analysis, offers 29 languages, covers a wide range of financial markets, and this software generates over 90% of the forex trading volume in the global financial market.

Currency funnels:

This is the latest platform that is gaining popularity with each passing day. It works with Metatrader. It allows users to set minimum and maximum limits for buying and selling currencies.

Forex web and mobile trader

Forex Web Trader and Mobile Trader are two of the latest forex trading apps that allow users to trade forex from mobile phones, smartphones, and iPhones.


Best Forex Broker Selection Tips

When engaging in forex day trading, it is essential for investors to employ the services of a forex broker. A good forex broker will not only implement your trades for you but will also provide advice and even technical analysis to help you make the best trading decisions.

Previously, a forex broker used to be a bank, as these were the institutions that primarily had access to the forex markets. But with the rise of the internet, an investor can select a broker from anywhere in the world. You can also surf the internet to get the best forex trading platforms in South Africa with the best features.

So how do you choose a forex broker? There are many factors to consider, but an important consideration is, in which country is the broker you are interested in located? Since many brokers are multinationals with offices in many countries, in which country is the broker regulated? Can you accept clients from your country?

Another consideration is the capital available for day trading forex. What is the minimum amount that the broker will allow you to open an account? Some brokers will allow an account as low as one dollar. On the other hand, a prominent brokerage requires a minimum of $ 25,000 to open a business account.

Also, how much does the brokerage charge in transaction fees? Some brokers only allow electronic transfers with high service fees, while others will allow free withdrawals via checks, although it would take a few more days to get your money.

For more serious traders, one consideration is which currency pairs the broker trades in. Some brokers only trade in major currencies, while others allow trading in a wide range of global currencies.

You should make a list of the requirements you want your broker to have. You can then cut this down and test day-to-day forex trading using demo accounts on your sites. You can then start small accounts with brokers who pass your tests.

The bottom line is that traders should select a forex broker that they feel they can trust. If the broker does not pass this simple test, then you should close your account with him and find another broker.


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