Now that you’ve made it through the basics of the Forex, I bet you’re rearing and ready to go trade! But before you can do that, you need something else… a broker!
Obviously we want you using the best broker you can find, and that is what this section is dedicated to – helping you find the best broker that you can. We will start off by going over the history of brokers and where they came from.
Tally off the most wonderful things that the internet has provided us with. Twitter, Myspace, Email, and Facebook are all great things, but not the best of all. The most awe inspiring thing that forex addicts (myself included) have acquired from the internet is:
The Retail Trading of Forex!
The fact of the matter is that us junkies wouldn’t be here today without the internet forex brokers. Back in the early 90’s, it was a much harder time. It was very difficult to take part in the forex market because you needed much larger balances than you need today. The government kept a close watch on the market and imposed many needless restrictions.
After dealing with the government’s restrictions for awhile, the CFTC had enough. They got a few bills passed that made online brokers a possibility. Since many people already had access to the internet at that point, it was easy to trade forex from home.
After those bills, forex brokers began popping up everywhere. Now that there are so many different options, it is hard to pick from the good and the bad. There are some really terrible brokers out there that are called “bucket shops” by many seasoned traders, but we’ll go over that in a bit.
Stay tuned for our lessons about Brokers – Who they are, what they do, and what you should consider when choosing one.
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