What is Forex?
Trade using the Metaquotes MT4 Platform with no trading restrictions and lightning fast execution. When retail forex trading first became available to individuals there were a handful of brokers operating dealing desks.The situations facing retail traders with spreads and slippage was really bad. Also account protection, broker financial responsibility, net capital, and having segregated accounts was not in place yet. The current direction of retail forex brokers is a movement away from dealing desks to direct access forex platforms and variable spreads. This is an improvement and the progression has been positive and will continue due to competition between forex brokers. Also the NFA has increased capital requirements, another positive step. The number of introducing brokers skyrocketed initially and finally, over the last several years the new regulations have eliminated the small IBs in the USA and there has been a consolidation in the forex brokerage industry which was sorely needed. This is also an improvement and there is currently good competition and an ample number of brokers. The amount of differentiation between forex brokers is becoming limited and it is starting to look like the brokerage landscape in the stock market. THere are still a substantial number of IBs based outside the USA however. One improvement is sorely needed. Some forex brokers like to say on their websites "We are number one based on customer service" or some other customer service criteria. Or "We are ranked Number 1" based on some survey that is nothing more than marketing. The reality the best forex broker is the one with the most successful clients. None of the forex brokers advertise this. I know that forex brokers have no interest in you succeeding as a trader, they just want you to trade frequently so their profits rise. If any forex broker states otherwise make them prove it. But be realistic, its not their job to make you a successful trader. They are strictly a middleman.