A forex agent or a forex broker company is an individual or institute (financial institute, banks, traders) that functions retail dealers requests (market, purchase orders etc.) and supply him with all the industry liquidity, Forex Brokers may also supply its own costumers with these kinds of services such as handle accounts, supply trading signals, forex education application.
It's quite suggested for brand new forex dealers to pick a trusted, dependable, effective agent, since this measure is quite impotent for novices to prevent been cheated and scammed. You can check out more info about forex broker in Nigeria via online resources.
Among the most typical issues faced by each new forex dealer is the best way to decide on the very best forex broker which suits their trading requirements. If it comes to currency trading, each one knows it is all about cash, forex brokers earn money when dealers open new transactions and rankings, when you start a brand-new trade the agent will charge a few pips (the final digit in the rate) from your balance.
There's two kinds of spread, variable and fixed, as a dealer you must always search for a very low spread agent, sometimes it's possible to get a 0 disperse agents, or even 0.5 pip spread agent, that sound great but do not be fooled, before you open an account ask your broker if there are some commissions, and swap free accounts.