The Benefits of Using a New Forex Broker

Whether you already trade Forex regularly or are looking for a way to get started, you’re probably overwhelmed with all your options. In fact, there are hundreds of Forex brokers to choose from, many of which offer similar services. So how can you know which one to choose?

The most important thing to consider before choosing a new broker is whether or not the broker is regulated and registered with an acceptable governing body. If you are a Forex trader based in the United States, you will need to choose a new Forex broker that is regulated by the CFTC (Commodity Futures Trading Commission) and the NFA (National Futures Association). Due to the high costs of registering with these agencies, only long-established Forex brokers register. However, if you live outside of the United States, you can, and should, consider trading with a Forex broker who is new to the market.

Governing bodies outside of the United States, such as the Financial Services Authority, register both established and new Forex brokers, ensuring that your money is protected with every deposit. A good example of a new star broker is Sunbird FX, a broker that has been around for quite some time, but has recently expanded to serve traders around the world. The benefits of using Sunbird FX compared to an older broker are numerous. For starters, Sunbird Forex offers excellent customer service via phone, chat, and email. Unlike larger brokers who are often inundated with queries, this new Forex broker takes the time to answer each query in a timely manner.

Also, newer brokers like Sunbird FX often offer cutting-edge technology that older brokers can’t. Some of the best features that the new brokers offer are great custom trading desks, access to the exclusive MetaTrader 5 platform, and superior mobile trading platforms. If you are looking for these features, you can find them at Sunbird FX, but you can also try Plus500, an older company that has recently been regulated and offers an innovative platform for new traders.

Lastly, it is important to consider many of the bells and whistles offered by newer brokers in an effort to steer traders away from more established brands. Many new Forex brokers offer free signals, access to the latest in mobile trading technology, and unparalleled charting options to provide the widest possible trading experience. However, despite these great features, it is always a good idea to try out a demo account or research the broker thoroughly before investing any money. Once you have tried a new broker, you may be ready to start a new trading trend.