CFD and Forex trading is actively developing around the world. Many traders practice this type of trading. There are some differences between the two. Forex especially concerns the currency market. CFDs are considered financial instruments traded over the counter. As a beginner, it is not always easy to understand the process of access to financial markets.
Moreover, the choice of the CFD and Forex trading platform is a crucial step. Some trading sites are indeed scams. It is therefore essential to be well informed before embarking on such a project. Most trading platforms usually offer free demo accounts. These allow beginners to test their services. You can perfectly enjoy this option on XTB. You can choose a broker and come up with the best options now.
Opt for a recognized platform
To choose a trading platform, it is important to check certain information. First, you must make sure that the site is registered with the FCM (Futures Commission Merchant). On the other hand, it is worth remembering that these brokers are regulated by the Commodity Futures Trading Commission (CFTC). To ensure the seriousness of the platform, you must also check the regulatory authority on which the site depends. Indeed, the controls are not always as active or strict.
Of course, you can definitely turn to a broker based in France. The Forex market is not regulated. It is therefore important to contact a regulated broker whom you turn to when a dispute arises. The French government has passed the law promoting transparency, the fight against corruption and the modernization of economic life. This device does not allow the promotion of financial products deemed too risky. This, therefore, offers a guarantee to traders.
Privilege a platform that offers a better user experience
Several platforms are available to traders. These can be third-party platforms or a home platform. Users will have many features such as trading support, real-time data, analytics and live charts. With the new measures taken by the authorities, the technologies provided differentiate the brokers. Thus, we can now discover automation solutions that allow customers to have a more pleasant platform to use and more efficient.
The goal of brokers is to attract a large number of traders. Some brokers also offer copy trading. This tool also allows you to position yourself according to the financial data provided by other traders. Requesting free trials remains the best alternative for testing different CFD and Forex trading sites.
What types of accounts are offered?
The majority of trading platforms offer more than two types of accounts. First, there is a mini account. This tool allows you to trade currencies with a minimum bet of about 500 euros. With this solution, you will have the opportunity to effectively test the service.
On the other hand, there is also the standard account which is generally accessible from 2 000 euros. This option gives traders the opportunity to access additional services. Some brokers offer a premium account that requires a much larger bet.
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