What are the tasks of a broker and what distinguishes a good broker?

The main currencies Dollar, Euro, British pound, Japanese yen, Swiss franc and many other currencies are offered by the Forex broker for trading.

The foreign exchange market is sometimes subject to very large fluctuations, but the good and successful broker confidently keeps track. Especially the private investor does not always know how to find the right Forex broker, which is tailored to his needs. A good way to find out is to test.

Demo accounts and demo portfolios are very helpful. This way, the broker and its trading platform can be easily tested and the trader realizes whether the offered system is the right one for him. With the demo account, the ambitious investor can test the platform without any risk with real-time quotes and learn trading almost playfully.

The practice accounts are equipped with about 100000 dollars and are active on average between two and four weeks. Real situations are simulated in the demo account. A good broker can also offer low spreads in the most common currency pairs. For example, in the main currency pairs 3 to 5 spreads should not be exceeded in any case.

In addition, the good Forex broker pays attention to the airbag function. This means that in case of losses, the investor loses only the actual deposit and does not have to pay extra. The broker should also have the most common charting techniques.

Some brokers trade not only the foreign exchange, but also the major commodities, such as oil, silver and gold. This is not the decisive selection criterion, but still a really big plus for each individual trader.