Intro To Broker

Question 1

What is A Broker

Answer 1

A firm or company that provides traders with access to a trading platform which enables them to buy or sell foreign currencies.

“The middle man between a retail trader and Internbanks

Question 2

What is an InterBank?

Answer 2

A network of banks that trade with each other

Traditionally by larger clients
Importers
Exporters
Banks multinational

Question 3

What does a broker do?

Answer 3

Allow Traders to borrow capital to make a trade

Question 4

What are the 2 types of brokers

Answer 4

Dealing desk trading:
Take the opposite position of trader

No Dealing desk Trading:
Traders are given direct access to the interdealer market but they may be charged a fee

Question 5

What’s the difference between a trading platform and a broker?

Answer 5

Platform: Utilized to place trades. Mt4, Trading view Etc

Broker: Match maker between you and other traders. Arrange the trades for you.