What is the role of a Broker:
In the over-the-counter (OTC) market, the broker is a fully independent player. Traders use a broker to access the market 24-hours. A forex broker also called retail forex broker is a middle company between the trader and the market to facilitate the trader. Traders must deposit money as a guarantee into their accounts to take part in trading. Brokers provide leverage to traders and they can trade the larger amounts than their account balance. The broker has knowledge of the forex market, understanding of the objectives and needs of clients.
The key roles of a broker given below:
- A broker earns commission on each transaction of the client, responsible to ensure the liquidity of the market and quickly respond to clients’ requirements.
- The main functionality of the broker is to give respect the private nature transactions and build the trust of its clients.
- Provide greater quality and high value-added services.
Baazex is a forex broker that offers the quality of trading services in foreign exchange and CFD’s. With the trading platform at Baazex, our clients can trade with over 2000 assets, — stocks, commodities, forex, ETFs, indices, crypto, etc. we bring you the most powerful trading platforms, designed effectively to meet the demanding needs of our clients looking for maximum performance, flexibility and profits. Baazex is committed to offering unparalleled superior trading conditions, the most advanced education library and state-of-the-art trading tools in the forex industry. We offer an attractive partnership program, which is an exciting opportunity for traders to earn revenue by referring traders to us. The partnership program is called the forex introducing broker or simply IB. our clients at Baazex just have to fill out a form to apply for IB partnership.
How much capital is needed?
Educate yourself before you start forex trading, without proper understanding, you will lose your capital. A number of different classes and mentors are available to teach forex education, most will provide you services after paying them. You can learn on your own but a good mentor can reduce the time period for learning and get you on a profitable way.
Most of the beginner traders have no much amount to purchase a good program or unwilling to pay for education. For those, we have good news that they can found helpful material for free on the internet using articles, different forums and broker‘s websites like Baazex.com.
You stop the learning process; your chances of loss will be increased. Forex market required some charting tools and news feeds. Traders must understand the functionalities of the charting software and tools.
Finally, the forex brokers require an initial amount of capital to start trading. If you have big goals then definitely you will invest more amount of capital to achieve your goals. Most forex brokers require the minimum initial deposit of $100. In the case of $100, your risk is $1 for each trade.