Best Forex Brokers Cheat Sheet (DRAFT) by [deleted]

Forex brokers buy or sell foreign currencies and enable people to trade in foreign curren­cies. They offer complete access to the traders to the market of foreign exchange. They basically allow you to trade in all currencies and offer you access to them.

A trader can start the trade by buying any foreign currency, and the trade gets closed when he sells the currency. They are also known as currency trading brokers.

In order to put a Forex robot on a real account, it must first be tested. The MT4 platform provides such an opport­unity for free by presenting the "­Str­ategy Tester­":

You choose an Expert Advisor (in this case it is Cable Trader), a currency pair, a time frame and the necessary period of time.

Then in the "­res­ult­" tab, you can analyze the received data and visually view it on the chart.

Forex brokers used to contact business over the phone. If you wanted to place a trade, you would call the broker and give instru­ctions of what to buy or sell. Nowadays, all brokers use state of the art cloud systems where a trader can trade almost everything with a click of a button. This gives you the option to gain access to reputable brokers and place trade on various financial markets, including commod­ities, deriva­tives, insurance, equities, mutual funds, etc. The trades still go through your broker who earns a commission for placing the trades on your behalf.
This techno­logical change gave the option for indivi­duals to access the markets. Brokers, in turn, are now able to aggregate each individual trade and consol­idate these trades. These trades are then mostly run by big financial instit­utions.