This thread is not talking about what is the best forex broker because we already have threads like that in this forum.
We know that there are many forex broker popping up each day and compete for traders’ fund. And many of them are now located in different countries. In the past, new forex brokers usually appear in countries like the U.S., U.K., Germany, Russia, Japan etc. Recent development showed that forex brokers from other countries are also booming.
Opening an account with local forex broker usually provide advantage like the ability to deposit using local bank transfer (which is far cheaper than international bank transfer) or you even use your ATM to transfer your money to that broker. Also by opening account with your local broker will help your own country to provide great business in the field of forex trading and help providing job because someday the broker will be big and hire local people to work for them. In essence, you have the chance to help your own countrymen and nation.
So which one do you think is good in the long run? Using the service of a local forex broker or foreign broker?
Give your opinion on this…