Founded by Andrew Blumer, Andrew is a seasoned finance professional. Andrew attended secondary school at the Belmont Hill School in Belmont, MA. He later earned a BA degree in economics in 1991 from Harvard College and an MBA degree in 1996 from Harvard Business School.
Whether you want to trade Forex, Stocks, Commodities or Indices we will help you. Learn more about Andrew and trading here
Forex brokers are firms that provide traders with access to a platform that allows them to buy and sell foreign currencies. Transactions in this market are always between a pair of two different currencies, so forex traders either buy or sell the particular pair they want to trade.
Forex brokers may also known be as a retail forex broker, or currency trading brokers. Most forex broker firms handle only a very small portion of the volume of the overall foreign exchange market. Retail currency traders use these brokers to gain access to the 24-hour currency market for purposes of speculation. Forex broker services are also provided for institutional clients by larger firms such as investment banks.
Forex brokers allow traders access to the foreign exchange market for currencies.
Most brokers service retail clients, though larger banking firms service institutional clients as well.
Forex brokers allow clients to trade with very substantial leverage.
Forex brokers make money primarily on the bid-ask spread, but may have other ways to do so as well.
Understanding the Role of a Forex Broker
Forex brokers provide access to trading on all major currency pairs; EUR/USD, GBP/USD, USD/JPY, and USD/CHF as well as the remaining g10 currencies and all the exchange rates between them. Additionally, most brokers will allow customers to trade emerging market currencies. (Further reading: What are the most common currency pairs traded in the forex market?)
When trading in the financial markets it can be very time consuming to find a broker that meets your needs.
You would have to visit and read many broker websites all of which have different language and wording for the same thing. The wording can be very confusing.
You are not sure who is trust worthy and who offers the best deal.
I realized there was a need to put all of this broker information into a common format and resource.