Today, almost all representatives of the broker company working on Forex talk about their “transparency”. But what does this term actually stand for? “Transparency” means that the company is ready to put all its cards on the table by revealing the features of trading technologies, broker’s income sources, etc.
All this helps to gain the trust of customers. But in practice, this term hides the same “muddy water”, where the interests of an ordinary trader are taken into account least. However, the company FxPro knows what the “transparency” in the Forex Market really is, and what the brokers should do to improve the trade conditions for their clients. At Tradersunion we are glad to provide you with the current information.
Transparent cooperation with the clients
There is no perfect trading system. However, according to the FxPro review, every self-respecting broker should pursue a perfect picture. On the other hand, only the companies that honestly talk about their problems and explain how to solve them can gain the clients’ trust… This strategy has nothing to do with “wishful thinking” and trying to hide flaws.
According to the representatives of FxPro, lots of modern Forex brokers talk about their “transparency”. But this (to say the least) is an exaggeration of their achievements. Thus, the official pages often publish the statistical data that are not even close to the real trade conditions. Of course, a beginner may be impressed by the statement that “the broker doesn’t allow any requotes or slippages”. However, any experienced trader understands that it’s impossible to avoid inaccuracies in order execution at the time of significant increase in volatility. We should also recall that slippage and requotes are considered the main problems in the Forex market that significantly reduce the trading efficiency.
In order to understand how honest the broker is with its clients, FxPro recommends comparing the “Risk Warning” with the key indicators, regularly published on the official websites. FxPro decided to publish the statistics on slippages and requotes, which, in their opinion, provides the traders with important and objective information about the working conditions on the broker’s platforms.