ONLINE FOREX BROKERS IN TAIWAN
Choosing the right forex broker for your trading needs in Taiwan can often make a significant difference in your trading returns. In fact it could also dictate whether or not a trade ends up being profitable or otherwise.
As such it is critical to ensure that your forex broker is the the right fit for your needs. If you’re like more than 90% of traders from home, who are looking to make a secondary source of income by trading, there a re a few things you may want to pay attention to.
1. Is the Forex Broker Regulated ?
Being a regulated broker means the broker is subject to security laws and regulations of the country it is incorporated in. Do no assume that all brokers are regulated, as there has been a few cases of customers using unregulated brokers only to have all of their deposits siphoned off later.
Being a regulated broker also means the broker has to adhere to strict rules regarding differentiation of client or trading accounts and the firm’s own accounts – which is critical in ensuring the solvency of the firm.
For instance both IQ Option and eToro are regulated in their own countries as well as several European countries. This puts added scrutiny on their operations and ensures that they are in compliance with all securities and trading laws at all times.
2. Ease of Deposit & Withdrawals
A good forex broker should make it easy for you to deposit your funds and even easier for your to withdraw them. All of this should be accomplished without any significance delay and be a fully transparent process.
Popular deposit methods that are often supported by top brokers include deposit using ETF (Electronic Fund Transfer), Credit cards (Mastercard/Visa), Electonic Payment methods such as Skrill, Neteller, WebMoney and others.
IQ Option and eToro are the two top brokers as they both offer various methods for deposits into your trading account, as well as withdrawals. Withdrawals are also processed within 24 hours and depending on the method of withdrawal selected, should be in your Taiwan banking account by 3 to 5 working days thereafter.
3. Spread between currency buy/sell
A forex broker essentially often makes money from the difference in the price offered during the currency being bought and sold subsequently. A good forex broker offers a spread that is marginal and as such ensures a more profitable outcome for yourself as the trader.
This is a critical factor that directly affects your return and as such you should pay particular attention to it. Both IQ Option and eToro are award winning brokers in this respect, as they offer one of the lowest spreads between currencies amongst others. As such this ensures that your trades end up being more profitable as you do not end up paying hefty fees to the forex broker.
A good broker also should offer various currency pairs aside from the major FX (Foreign Exchange) pairs such as USD/JPY, USD/AUD etc. This ensures that you are able to access a much wider variety of currencies to widen your reach to trade on.
4. Customer Service Experience
You should never dismiss the customer service experience of choosing a broker. Oftentimes, when you do need to speak to someone at your broker, it is because of an urgent matter that needs tending to, as such a excellent customer service experience should also be a major consideration.
In this respect, IQ Option and eToro also come out tops. In fact IQ Option even has a dedicated account manager accessible to you as the trader the more you trade with them. An IQ Option Account Manager can help assist you directly should you have any problems and even offer tips on trading to you.
5. Quality of the Trading Platform
This goes without saying is obviously an important consideration. You’d always want to choose a platform that is user friendly and presents the relevant information without it getting too cluttered.
The system should also be stable and support various access methods such as a computer, on your mobile and browser.
In fact IQ Option and eToro have both previously won numerous awards for having the most user friendly and attractive user interface for it’s users. Check out some of the screenshots of their platforms below.
In summary both IQ Option and eToro are both excellent choices for Taiwanese users. Both platforms also feature Mandarin as a language that is supported on their platform for ease of Mandarin speaking users. Sign up for an account today and start trading your way to your dreams !