MT4 brokers are forex brokers that use a metatrader platform for trading make money on commissions and spreads. When traders make a substantial turnover the broker makes his money from the trader’s turnover. Is there anyway a trader can get cash back or discount on the money the broker is making from the traders trades. Well let’s assume you open an account with one of the reputable forex MT4 brokers, which offers a pip discount per lot traded.
Say that one pip is around $20 on average should you trade EURGBP, EURUSD and EURCHF and say you deposited $4000 into your account. A realistic estimate is that you would turn over around ten to fifteen lots per $1000 per month when using FAP Turbo and Mega Droid. In the first month your cash back would be $288 which averages around 86% ROI yearly. It cost you nothing to sign up and your commission or spreads remain the same.
The forex broker reviews only list the most reputable and best MT4 brokers online. There are currently thousands of brokers online, and each day there are new brokers available, which makes a traders choice more alluring, especially new traders. These reviews concentrate on what is important to traders, what leverage is offered, what is the minimum account size as well as what trading platforms these brokers offer and much more.
These forex broker reviews show traders tha many unexploited opportunities, which also come with a few problems of its own. While forex strategies and analysis is crucial for achieving returns, the first task faced by a forex trader is finding the best MT4 brokers, in order to trade effectively and being assured they have an honest and competent broker.
For all those beginners here is a list of what to look for to ease your burden of finding the best forex broker. This is what you should look for:
• The very first concern when looking for a MT4 broker is the safety of your deposit as well as the honesty of your broker. You can do a background check on the forex blogs and forums, which will allow you to ask questions. Find out if the company is regulated by government authorities and do they use the most up to date technology when it comes to safety of your transactions and funds.
• Forex brokers usually have a disclosure statement in the About Us section on their site at the bottom of each and every page which should state its membership to the NFA in the USA as well as being subject to the regulations of the CFTC. Other countries have their own regulatory bodies.
Other things you need to look for are what types of trading platforms and software is on offer. What currency pairs are on offer? Forex broker reviews will also alert you on the type of customer care and beginners support MT4 brokers will give you. Always bear in mind that a forex broker is ultimately the custodian of your funds, so choosing the right broker is of the utmost importance.