Buying a Forex product, just like buying anything else, involves making some research. If you were planning to buy a home cinema, you’d visit several websites, compare the prices and then, eventually, even go to the different stores to see the model you want before you buy it. The same happens in Forex.
If you don’t know how to or if you just don’t want to make an additional effort of developing your own system, there are a lot of good Forex products out there. But there is also a lot of garbage too. So, how can you pick the right product? What and where should you search for these products?
Well, there are 5 things you should do before you buy a Forex product:
1. If you already in doubt between a couple of products, you should check their websites. See if they have been recently modified, new upgrades made. If you notice that the website has, for example, 1 year or so, and it hasn’t been updated at all, most probably the Forex product might not be very accurate.
2. Having a support person or team ready to answer our doubts is always a plus in the Forex market. Most product sellers don’t even answer their emails. So, it’s important to be sure that in case we need anything, there will be somebody there ready to help us out. We don’t have to require a 24-chat support or a phone number. If they answer their emails within 24 hours, it may be considered a good thing. If you just don’t know what to ask them, “create” a question and see how much time they take to get back to you.
4. Check their website to see if they have some kind of guarantee. If they do, this only shows us that they really believe in their product. If they didn’t, they wouldn’t be offering it in the first place.
5. Search on Google for product reviews. You should read those made by real users of the product. Check what they say about the product itself, the support, if the product owner recommends a special broker, etc.
Basically, dig everything that you can before buying a Forex product. This doesn’t mean that you will be 100% satisfied, but it will eliminate a lot of junk products that are all over the Internet.