|Singapore, home of many Brokers|
In this article, I will discuss Forex and CFD brokers. I will discuss how they operate and how to find one for successful trading. Many of the ideas that I share about these brokers will also apply to brokers of other securities like Bonds, Stocks, ETFs, and Options.
I am a big proponent of building your own infrastructure. However, as a retail trader, there is only so much you can do. It is not cost-effective to pay for direct access to an exchange and co-locating some trading servers right there at the exchange. That is not what this article is about. This article is about building a trading infrastructure that is flexible and independent enough to be able to execute trades through any broker you see fit.
I believe that you should not get locked into a platform in a way that will allow you to only trade with the broker that provides the platform. That is why I use spreadsheets, open-source programming frameworks/libraries (python) and freely available charting software to do my trading analysis. But first, let’s go into what it is you should look (out) for in a broker. Continue reading