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A COMPLETE AND COMPREHENSIVE DESCRIPTION OF EACH STEP AND VIDEO IS AVAILABLE TO MEMBERS |
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| Step Description | Requirements |
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Step 1 Trading Environment |
Forex broker must provide natural trading environment. You can test that by checking whether your limit orders affect spread on their platform. |
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Step 2 Commissions |
Forex broker must charge commissions. |
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Step 3 Regulation |
Parent company of forex broker must be regulated by at least one regulatory government agency. |
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Step 4 Reputation |
Forex broker must be in business for at least 3 years, must have at least one article in major financial newspaper, and must have at least 20 customer reviews on FPA and a rating of 3 stars or higher. |
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Step 5 |
Forex broker must allow clients to make unlimited withdrawals and have at least one withdrawal option that costs $10 or less and takes 1 week or less to receive. |
5-step
forex broker evaluation system in a nutshell