Trade Nation happens to be among the best forex brokers in South Africa. To find a suitable forex broker is normally the first step towards online trading successful experience. Although the task might seem to be quite difficult in the beginning, there are several brokers features that can prove quite critical to your decision of marketing. The following are some of the limits that have been trying and are known to be things that are important that you need to look out for in any forex broker:

The types of forex accounts

If you are a newbie on forex trading with a broker, you will need to decide on the account type that you would prefer to open. The type of accounts is normally based on the deposit amounts and they do have different names such as mini account, micro account, VIP account and standard account. Each of them, they are known to have a deposit minimum and a lot of other minimum requirements. 

Majority of the standard are known to have 100000 units while those that own mini and micro accounts are normally allowed to be able to trade with several which are equal to the 10000 or even the 1000 units. For each account type, the leverage is different and might vary from 1:1 to about 1000: 1. There is a need to check out the type of accounts that are available and offered by a forex broker to find out if they find one which is able to match the requirements which you have.

Forex broker types

The trading in forex is able to allow you to be able to trade with dealers and brokers. In simple terms, the forex brokers are the go between market makers and individual traders. They are able to process your order via computer systems and it is known as Non Dealing Desk. 

The spreads which are offered to the traders might be variable or fixed, and at times, the brokers are able to earn a commission as percentage of the available spread. Dealers are the makers of the market and they tend to have a dealing desk which is able to process the orders. 

The model of ECN is also quite popular and it is able to give the retail traders access to the offers in the pool that is quoted directly by the makers of the market, which end up resulting in spreads that are low.

Custom service

Because the forex is one that happens 24 hours daily, it is expected that your forex broker can offer you a customer service that is uninterrupted. You can be able to test the customer support team availability through trying to contact them all channels of communication which is available.  it is important that you get an answer in the shortest time possible and this is quite true for the live service of chat. Technical problems might at times occur and you don’t want to start waiting for hours before being able to get any help.