A Forex broker is an omnipresent personality in Forex trading system. In the case of Forex trading system, they offer a platform to trade and work as an invisible link between the buyer and the seller. Since money is get involved in all these procedures, it is common to have issues with a trader and Forex broker. However, before going to Forex market it is always a fair idea to know about Forex brokers. One can find four types of brokers in Forex market. They are; Market Makers, NDD, STP and ECN.
The market makers are actually most powerful forex brokers in the currency trading market. They are doing business not for the sake clients, but for their own pocket as well. What they actually do is that when a trader wants to sell his currency, they buy the currency from the trader. This way the trader will lose his accessibility to the market. That means he will never get the market price. NDD brokers normally charge a commission to increase the spread. However, the process is more transparent. The STP brokers normally have several financial institutions as their clients. This is good for both the retail trader and the buyer. However, it is not a good idea to choose an STP broker with less clients. ECN Forex broker is the best way to trade currency. They normally offer direct accessibility to the market through web.
In order to conclude, the best way is to research as many details about Forex broker online. This will help you choose the right broker and in turn less stress.