To assess whether a forex trading platform is good, consider the following factors:
1. Compliance and Regulation
Check whether the platform is regulated by relevant financial regulatory authorities, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), etc. Compliance offers higher security for our funds.
2. Scale and Trading Volume
Many large forex brokers regularly publish trading volume data, which we can find on their official websites. Listed forex companies even disclose their revenue and number of clients. For companies that do not disclose this information, we can research the platform's reputation online.
3. Trading Conditions
Assess the platform's trading conditions, including spreads, commission fees, and liquidity. Lower spreads and fees are more advantageous for traders. Moreover, a good platform should provide fast and accurate trade execution and sufficient liquidity to ensure we can get good execution prices in the market.
