Protect yourself in the financial markets: 8 useful tips for choosing a broker | Taiwan News

Choosing a reliable broker to invest with is not always easy. OctaFX outlines eight tips on how to protect yourself in the markets and find a trusted broker to start your financial journey.

KUALA LUMPUR, MALAYSIA – Media OutReach – July 21, 2022 – Trading in the financial markets is gaining momentum every day. With so many brokers offering their services, finding the right one can be difficult. What should you look for in a broker to get the most out of trading the financial markets and feel safe? There’s no simple answer, but there are plenty of tips that will help you along the way.

Types of brokers

It is important to choose the type of broker you will trade with based on your investment goals and approach.

Cryptocurrency brokers and exchanges are a way to go if you find it easy to navigate highly volatile markets and want to invest in cryptocurrencies. However, keep in mind that the crypto market has had some devastating crashes, leaving many investors with piles of coins that are worthless. The most recent example is the crypto crash of 2022. Nevertheless, tens of thousands of crypto-millionaires have emerged over the past ten years due to the explosive growth of certain cryptocurrencies.

Invest with a stockbroker usually involves allocating considerable funds and playing for the long term. Stock prices often rise or fall simply because of corporate policies, over which investors have no control, making the price movements of any given stock largely unpredictable. Still, investing in stocks could yield huge profits, especially after thorough research and analysis.

Forex Brokers mainly offer CFD trading on many instruments of different classes including currencies, commodities, stock indices and crypto assets. You can base your trading strategies on a variety of timeframes, from very short term (M1, M5) to long term (D1 and up).

Let’s dwell on Forex brokers as the ones that offer the most versatile trading experience.

Trade on a decentralized global market

Foreign exchange trading takes place twenty-four hours a day, five days a week, on various exchanges around the world. Decentralization is vital to the Forex market due to the globalized world economy’s need for fast and easy currency flow.

International Forex brokers, as opposed to local brokers, operate in a multitude of countries. They are authorized to operate globally through several international documents. Not being heavily regulated locally and not having to put in place restrictions that often limit trading opportunities for traders, international Forex brokers can therefore offer more favorable conditions to their clients.

Many traders, especially newbies, choose to work with local brokers because of the licenses they usually have from local financial authorities. However, given the global nature of the Forex market and the heavy restrictions these brokers face, trading with them may lack variety of trading instruments, promotional programs and bonuses, and simply be less profitable due to higher commissions.

Choosing a Trusted Forex Broker

When it comes to choosing a reliable international Forex broker to invest with, there are several practical tips that will help you.

    1. Check when the broker was created. Any broker with at least ten years of work in the financial markets is worth a try.
    2. Find information about the broker on the Internet. Conduct your own research.
    3. Check the reviews (you can find them on trustpilot.com).
    4. Find out if the broker has received any industry awards for its services in Asia, and Malaysia in particular.
    5. Check if the broker publishes its own educational content. A reliable broker is always interested in having their clients better prepared to trade in the financial markets.
    6. Find out if the broker provides multilingual support.
    7. Find information on whether the broker otherwise has a presence in Malaysia. For example, OctaFX regularly invests in charitable initiatives across the country to give back to the society in which it works and to be closer to its clients.
    8. Last and most important. Compare the trading conditions of brokers who have shown themselves well in all other respects and choose the one with the lowest spreads, no additional commissions and no swaps.

By using the tips above, you can find a trustworthy broker that would suit you and help you achieve your financial goals. Also, you will protect yourself against scammers posing as Forex brokers, as they will never be able to falsify a reputation gained over many years of working in the financial markets.

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About OctaFX

Social media icon OctaFX is a global broker that has been providing online trading services worldwide since 2011. It offers everything one needs to achieve their investment goals, offering top-notch terms already used by clients over 150 countries around the world.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including improving educational infrastructure, short-notice relief projects, support for local communities and small and medium-sized businesses.

In the APAC region, it managed to win “Decade Of Excellence In Forex Asia 2021” and “Best Forex Broker Malaysia 2022” by Global Banking And Finance Review, World Finance and Cfi.Co, respectively.