What is a forex broker?

Posted by roderkar from the Finance category at 30 Jan 2023 09:04:52 am.

The currency market Forex is decentralised, meaning there’s no single exchange that all transactions go through – unlike, for example, the New York Stock Exchange or London Stock Exchange. Instead, the forex market is built on an interbank system – a global network where financial institutions trade currencies directly between themselves.

For everyday retail traders to access this network, they need to use a broker. Brokers enable traders to buy and sell currency pairs and offer services like leveraged trading. In turn, brokers make money from the spread – the difference between the buy and sell price – and other fees such as commission charges. There are many Brokers. And so that you can choose a reliable broker, here https://fx-list.com/low-spread-brokers, study reviews of different brokers. terms of cooperation with them and other information that will help you.

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