I am here in Dubai for last 4 years . Gold trading in Dubai is a bit about the market knowledge and one should know the basic criteria to figure out best forex broker. Gold trading has gained in popularity due to the more recent economic downturns faced by the global economy. Investors see gold as a product that can be used to hedge against inflation. As investors are discovering the potentials of gold trading, a lot of them have considered adding this to their investment portfolios. Several investment advisers actually recommend gold trading as new ways to diversify portfolios.
There are a number of benefits of trading gold. Because gold is less likely to be affected by inflation, it serves as a safety cushion for traders who are actively involved in currency trading or trading in any other commodities. Purchasing gold within the type of coins or bars could lead to storage troubles or higher storage space expenses. An investor can improve his return from gold by choosing the right investment strategy that minimizes the expenses.
Most Forex brokers today offer gold trading accounts in addition to currency accounts. In fact, several brokers allow for trading of multiple investment products – including gold.
The following are the things that a trader should look for when Choosing right broker for Gold trading-Dubai
Reputation
Reputation is an important aspect of any business. A considerable amount of money is involved in the field of trading and investment so it’s crucial for you to do research before choosing a Forex broker to deal with. There are a lot of “fly by night” operations around the Internet so take extra caution. The rule of thumbs is to stick with the more established Forex trading brokers that have a good track record.
Regulation
Legitimate brokers/online traders operate under the supervision of regulatory boards. Regulatory boards are a body of authorities that ensure just and decent trading practices. They have industry rules and regulations that Forex brokers needs to adhere to. They also intervene in trader-broker disputes. It is highly advisable to choose a broker that conducts business in a country where it is monitored by a regulator body.e.g For Dubai gold trading .
Minimum Trading Account Size
These days, broker leverages are getting higher and higher to cater individual investors who have limited funds. The use of leverage means that you can increase your buying power with a smaller initial risk of capital. Know how much you are looking to make and how much you are willing to risk. Depending on the size of your capital, you can choose among Standard Account, Mini Account and Micro Account that are offered by most brokers today.Dubai gold price is also very important to check before you jump into trading.
Technical support
Trading gold in the market makes it possible for traders all over the world to trade anytime of the day. And while you may not be trading at 3am, you never know when you will run into some issues concerning your trades. So dealing with a broker that offers 24 hour customer support service would be ideal.
Additional Value Added Services
If you are like most serious traders, then you certainly want additional services such as education articles, e-books, webinars, market analysis updates and other tools which you can use to supercharge your knowledge. Many Dubai Forex brokers offer these and the tools they provide can come in handy if you are the type of trader who trades fundamentals.
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