There is a lot of money to be made on the forex market, but if you don’t know what you’re doing, you can lose everything. That’s why it’s essential to make sure you choose the right broker.
An excellent way to tell whether a Forex broker is legit is to check their regulatory status. If they are regulated, you’re more likely to receive your funds back.
Signing up
Forex is a global market where currencies from all over the world can be traded. This makes it the largest and most liquid market in the world.
While the market is a legitimate place to trade, it is essential to be cautious and use due diligence when signing up with a broker. Some brokers may try to get your personal information, including credit card details, through unsolicited and persistent marketing.
Moreover, you should check the registration number and address of the forex company. Some scam brokers use the same name, ‘firm registration number, ‘ and address as other regulated firms.
24 forex legit offers a wide range of investment products and is regulated by the Cyprus Securities and Exchange Commission (CySEC). It also has a reputation for excellent educational resources, which are great for beginners.
Trading platform
One of the most popular trading platforms available to traders is MetaTrader 4. It offers various tools and features, including advanced charting and automated strategy development.
MetaTrader 4 also supports mobile apps, which makes it an excellent choice for day traders and investors. Its 21 timeframes offer a comprehensive and detailed analysis of even minor price movements and are straightforward to use.
The platform has a strong educational focus, with videos and webinars providing basic and advanced CFD trading information. However, it lacks research products such as streaming news and fundamental research offered by other brokers.
