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What is the main role of the broker?

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  #1  
Old 27-10-2018, 08:09
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Join Date: Jun 2015
Posts: 38
Default What is the main role of the broker?

Now days, it is obvious that everyone wants a perfect broker. But often that doesn’t happen, so what should be our expectations when it comes to selection of the broker? I personally have no major expectations, but just simple stuff and that’s to have a reliable and trustworthy broker. However, I am lucky enough to have broker like FreshForex, which not only is highly reliable and secure with regulation. But also got the feature to thrill like 101% deposit bonus, rebates giving upto 20 USD per lot. And much more. So, I believe the main role is reliability but anything else is just a luxury!
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Old 21-12-2018, 11:29
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Join Date: Oct 2013
Posts: 135
Default Re: What is the main role of the broker?

To be a mediator I guess. They mustn't take the counterparty in your trades, otherwise they can be considered as market maker. And it's not very good for their clients because basically both trader and broker can be in profit simultaneously. Some of them will pay for others profit, so it should be a warning sign if you spot execution services in their venue.

Gladly there is nothing suspicious with my broker Hotforex so I can safely trade with them.
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Old 29-12-2018, 13:53
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Join Date: Feb 2014
Posts: 180
Default Re: What is the main role of the broker?

If your forex broker is not a market maker, then it must offset your trades with another firm that is a market maker. That’s because market makers provide a vital function, not only in forex, but in many financial markets, including the major futures and stock exchanges.
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