Who is a broker?
A broker is a professional participant in the exchange market. which provides intermediary services for individuals and legal entities on the exchange. For the implementation of this activity, he charges a certain fee from his clients.
Also, many brokers are engaged in analytical and investment activities, conduct training sessions
What is a single broker account?
A single account is an account from which you can trade on different markets and exchanges. Before, to trade on the NASDAQ exchange and say XETRA, separate accounts were needed. The same applies to the securities market, futures and other instruments, as well as the account currency. A single account makes it unnecessary to open different accounts while saving on costs.
What are the commissions of brokers?
Brokerage commissions are completely dependent on the financial policy of the broker.
For active traders, it is approximately 0.03% for the stock and foreign exchange markets. OTC transactions are usually much more expensive.
How to choose a broker?
In this matter, the main role is played by the reliability factor. The trader must be 100% sure that his company will fulfill its obligations. There are several points that will help a novice investor make the right choice
- One of the main criteria is the presence of a broker in the regulator, and the more of them, the better.
- The broker must provide support in your native language.
- It is good if the broker has an office in your area.
- A good broker is an old broker. The more years a broker has been working, the better.
What is a trading platform?
A trading platform is a trading program that a broker provides to its customers to conduct transactions on the exchange, bypassing phone calls and using the Internet.
Why is verification necessary?
The broker must be sure that no one else can use your funds and conduct unauthorized trading. That is why there are many degrees of protection, ranging from common passwords to two-factor authentication using one-time SMS passwords.
How can I replenish a deposit?
The deposit can be replenished by cash at the office of the company or by electronic payment by credit card or electronic payment system ( electronic payment systems ). As a rule, brokers provide a large list of details for replenishing an account in any convenient way for you.
How to withdraw money? (methods, commissions, terms)
Withdrawal of money occurs, as well as input. The conclusion is made in cash at the office or by electronic payment to your same details from which you replenished your account.
What is electronic money?
Electronic money is an alternative to real money, which is used when calculating on the Internet.
Who are regulators?
Regulators are the highest authority on the exchange, which ensures that all bidders fulfill their obligations. In fact, on most trading floors, the state acts as the main regulator, using intermediate organizations.
Should I use broker analytics?
Brokers can provide market analytics and signals for trading. It is beneficial for the broker that you trade and make a profit, thereby increasing your turnover and giving more commission to the broker. Therefore, the broker gives relatively high-quality analytics and signals. So all responsibility for the decisions made remains with you
You can focus on the signals and analytics of the broker, but checking it with your sources.
What if I forget my password?
If the client does not remember his password, naturally, he will not be able to log into his account and trading platform. According to the broker’s rules, the password can most often be restored using the password recovery service via a mobile phone or by visiting the broker’s office.
Can I open multiple accounts?
A client of a brokerage company can open several accounts both within one company and at once in several. However, this rule does not apply to IIA accounts. One such account can only be opened by an individual resident of the Russian Federation.