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From providing the best online trading environment to making sure you always have access to the latest forex trading tools, legal forex brokers are here to make your business run smoothly. While many online traders choose to trade without the help of a broker, there are several benefits to doing it the right way and getting your broker’s seal of approval, so we’ve outlined them here so you can decide if they’re right for you. Here are the top 5 benefits of trading with a legal forex broker.

1) Sign Up

Signing up for an account is quick and easy. Most forex brokers offer both individual and institutional accounts, which can be opened by anyone over 18 years old. Once you’ve signed up, you’ll be required to submit certain documents to prove your identity (passport, driver’s license, etc.). Then you can fund your account using a wire transfer or credit card. The process takes about three days and will cost anywhere from $250 to $5,000 depending on your chosen broker.

2) Deposit Money

If you have money saved up or if you want to take advantage of a special account offer, be sure to deposit your funds into your forex broker’s account. You’ll then be able to start trading right away. If your broker doesn’t allow deposits and withdrawals, consider finding another one. What good is it for a broker to accept your trades if they don’t allow you to get back your own money?

3) Invest in Multiple Currencies

When you trade with trading, you aren’t stuck to trading one currency against another. Instead, you can decide whether or not to invest in multiple currencies at once by buying currency pairs. For example, if you think that EUR/USD is going to rise and USD/JPY is going to fall because you believe inflation will increase in Japan but decrease in Europe and how both countries rely on each other’s economy for growth, then go ahead and buy two different currency pairs.

4) Trade on Your Terms

One of the biggest benefits that come from using an FX broker is having direct access to trading platforms. This means you can trade currencies whenever and wherever you like, as long as your computer is turned on. It doesn’t matter if its 2 am or 2 pm—your online forex account will always be available to you. There’s no waiting in line at banks or dealing with pushy salespeople when it comes to opening an account either.

5) Get Verified

When it comes to choosing a forex broker, there are many factors to consider. Among these is whether or not they are regulated. Fortunately, many forex brokers that operate in the US and elsewhere are currently regulated by one or more agencies in their respective countries. Finding out whether your prospective broker is on these lists of regulated brokers like is easy and can save you some valuable time when selecting which firm to do business with.

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