Well, as the first lesson in this Forex Primary School, we will learn more about the types of forex brokers. In kindergarten, we have learned at a glance that a broker is a "bridge" that connects traders with a complex forex market. But actually, the ins and outs of this forex broker is much more.
Online forex brokers are actually the forerunner of foreign exchange trading. In the 90s before the popular internet, entering the forex market is very difficult due to the high transaction costs. In addition, at that time foreign exchange business is also generally still very limited.
In the end, however, the US and Commodities Futures Trade Commission (CFTC) regulator, managed to pass a number of laws that open the door of forex trading online. From there finally broker forex was born as an agent that bridged forex traders with the market internationally. After the popularity of the internet, forex business slowly began to be known and interested people because trading can be done very practical. We just open an account on a trusted online forex broker, make a deposit, then trading and profit if profit.
The problem here, not all who claim to be a forex broker on the internet really a real forex broker. Even so, many forex brokers are run by people who are cynical, so once the deposit is practically our funds vanish. Currently there are so many different types of forex brokers that stand out there, and savvy traders must be clever to choose an honest broker. Well, to not be fooled, first let us first identify the types of forex brokers and how to choose the most suitable for us.
1. Types of Forex Brokers
Basically, there are two main types of forex brokers, namely brokers with Dealing Desk (DD) and No Dealing Desk (NDD). DD Brokers are sometimes also called Market Maker, or in Indonesian jargon, Broker Bandar. While NDD Brokers can be further divided into brokers Straight Through Processing (STP) and a combination of STP with Electronic Communication Network (ECN).
In addition to aspects of the system, forex brokers can also be classified based on the regulation. There are regulated and unregulated brokers. However, the forex broker regulation does not all have the same standard of bona fideity. Read more.
2. How To Recognize An Honest Broker Or Trick
With so many types of forex brokers, we as traders should choose which one? Well, to ensure that our preferred forex brokers are real brokers, there are some things that should be judged. Anything? Listen here.
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