The first thing to do when someone is considering the possibility of currency exchange is to open an account with a foreign exchange broker. This is a fairly simple process that is usually performed online. Due to the huge size of the foreign exchange market and its rapid expansion in recent years, there is a lot of competition for the business of new customers among online brokers. This competition is usually held in several key areas: the cost of trading is one, the level of service a client receives is two, and the third is the quality and effectiveness of the IQ option forex platform they offer their clients.
A trading platform is software specifically used by a trader, it is similar to an interface that delivers information and allows a trader to make transactions. Forex exchange platforms should, first of all, offer a guarantee for the funds they have deposited – $ 100 or $ 10,000. An important feature of any forex trading platform is the ease of obtaining data on real prices. Another important attribute of any commercial platform is that it should have a good simple design, in which data is easy to read and understand. The ability to complete a transaction should also be direct, so there is no way to make a mistake and place a sales order when it should have been a purchase order, or vice versa, and then be able to easily exit a transaction with a clear PIP or reading profits in each individual transaction.
In addition, when examining various platforms, operators must ensure that the software has the ability to quickly and easily set up and edit losses, as this function can prevent the closure of a pair of transactions as losses. A good added feature for a commercial platform is graphics software. Charts are needed to provide information on which merchants base their calculations. The better the graphics package on the platform, the more accurate the calculations can be made. Some of the additional features worth mentioning are platforms that can be accessed from mobile devices, such as PDAs, which provide greater flexibility.
In addition, an additional aspect that you should consider if you are a citizen of the United States is that several brokers will not allow citizens of the United States to exchange with them, this is because the SEC over-protects its citizens and Unfortunately, this is not limited forex.
When searching for online brokers who use a good platform like IQ option, it is also worth checking that the client accounts in the broker are stored in separate accounts that provide the best protection for your money. This, combined with finding a platform that a trader can easily use, should be enough to open a live account and start trading.