What are the benefits of using a Forex broker?

A Forex (foreign exchange) broker is a financial services company that holds your money in their account and gives you the ability to use that money to buy and sell currencies, so that you can potentially profit from the trades.

How do you choose a Forex broker?

There is no one best Forex broker for everyone. As I mention here, beginning traders with a small account are probably better off starting with a nano lot, market maker broker. If you have a larger account and you're consistently profitable, then an ECN broker is usually a better option.

What services does a forex broker provide?

A forex broker is a financial services company that provides traders access to a platform for buying and selling foreign currencies. Forex is short for foreign exchange. Transactions in the forex market are always between a pair of two different currencies. A forex broker may also known be as a retail forex broker or a currency trading broker.

How does a forex broker make money?

There are 2 ways that brokers make money. They can charge a bid-ask spread and/or charge a commission on every trade. The bid-ask spread is the difference between what you can buy a currency pair for and what you can sell a currency pair for. You buy at the bid and sell at the ask.