(1) regulatory information
It is suggested that when choosing a foreign exchange platform, you must choose the foreign exchange platform supervised by FCA (British Financial Market Conduct Authority), NFA/CFTC (American National Futures Association), ASIC (Australian Securities and Investment Committee), FINMA (Swiss Financial Market Authority) and FSP (New Zealand Financial Service Provider).
FCA has a compensation plan for FSCS financial services. If the enterprise goes bankrupt, investors can get compensation of up to 50,000 pounds.
(2) Website information
You should choose a platform with a wide range of website traffic sources and a high ranking of traffic, rather than a platform where you can't find any information.
(3) Transaction costs
At present, most platforms adopt the spread/commission profit model, that is, on the basis of the bank quotation spread, plus a certain spread or commission, the transaction cost seen by our traders is finally formed. The formal platform adopts ECN+STP straight-through transaction, and customers' orders are sent directly to the interbank market. 100% does not take orders or gamble.
(4) Sliding point
Slip point refers to the situation that the final transaction price is inconsistent with the entry price or stop loss price set by the trader, including the trading of take profit, stop loss, limit order and breakthrough order of position orders.
Any regular platform will appear, and there should be a slip point. The difference between the regular platform and the black platform lies in the time when the slip point appears. The regular platform will not slip in the ordinary market, and the slip point should only exist in the huge market, while the black platform will slip at any time.
(E) EA restrictions
EA restrictions generally exist in non-MT4/MT5 platforms and MT4/MT5 bridging platforms. If a platform uses MT4/MT5 clients and is not a bridging platform, but EA transactions are prohibited or restricted, then it needs to be carefully selected. Denfoot DFX adopts the international mainstream MT4 platform, without EA restrictions, and is a reliable and regular platform.
(6) Platform mode
There are two basic modes of retail foreign exchange trading platform, one is market maker mode (MM) and the other is non-dealer mode (NDD). Among them, NDD mode is divided into ECN mode and STP mode. The platform adopting complete ECN+STP trading mode is a more reliable platform mode.
(seven) whether the account opening procedures are complete.
Generally, you need to provide proof of identity, proof of address and other related materials to open an account, and you must sign a contract (written or electronic) with the dealer through an agent. Individuals who rush to open an account, deposit and other incomplete procedures are not very reliable. I suggest you be cautious.