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When it comes to the type of forex broker, most of the sources you will find on the web will categorize them under the following conditions: transaction tables, market makers, tables without transactions, directly through processing, direct market access, introduction, and you might be able to find other terms for describe the type of basic broker. Now the question is how to organize all these terms in a meaningful way.

The first thing you have to understand is that it organizes the market for you and who is your trade partner. Regarding this question, two types of FX brokers exist: called transaction table brokers (DD) and non-moving table brokers (NDD). DD brokers are your market, meaning, the broker itself is your trade partner or to put it in other ways, brokers trade against you.  You can get more info about forex trading in Kenya online.

Because DD brokers represent the market, they are also called market makers (mm). They got profit from the spread and also from trade. They prefer merchants who lose, traders who fail, because they make a profitable broker.

Winning traders in the broker of the other side forces to hedge in the interbank market, causing them additional fees so that they are not among the most sought-after clients. Of course, the leading FX trading provider manages this professionally, while with more 'exotic' brokers you may be asked to close the account and leave, if you will be too successful.

It is also recommended that you work with forex brokers capable of providing good customer service. As you know, the foreign exchange market operates 24 hours a day, 5.5 days a week. Thus, it will be very good if you can get support from your broker at a certain time. So how do you determine whether the broker can give you good customer service?

Notice how fast brokers respond to your call or email. If individual companies or brokers can answer your questions and problems without further delay, it is likely to be able to provide excellent customer support. You can check out best forex broker in south Africa via online resources.

If you have just started buying and selling a currency pair and you are not ready to risk a large amount of your money, select a forex broker that requires a low minimum deposit. Some forex accounts can be funded with small initial deposits. As a beginner, it is recommended that you start with them before gradually rising when you get knowledge and experience.

Another thing you should consider when choosing forex brokers is the trading platform offered. The trading system is an important part of the daily activities of investors. This is basically a portal to the foreign exchange market.