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A Forex broker is the trading platform for the traders. Forex broker is a service company that places trades on the interbank market. The Forex broker finds a counterpart for the trade to be made by the trader because each trade can only be made if there is someone on the opposite side. Also, the Forex broker is, among other things, the contact person for the trade for questions or advice on the trader's possible Forex strategy.

The main source of income of Forex brokers is the so-called spread. Here the Forex brokers earn money with every transaction or trade. Forex brokers are required to pay a difference (the difference between the buy and sell price) for each trade. These spreads are sometimes called the bid/ask spread. The smaller this difference (spread) is, the better it is for the trader, because it means lower costs for the trade. Some of these spreads are variable to compensate for fluctuations in demand.

A good Forex broker supports the traders in every aspect of their activities on the platform. A demo account is made available to beginners or newcomers so that they can learn to trade with "play money" (i.e. no real money). This makes it possible for newcomers or beginners to develop a feeling for trading with foreign exchange. Likewise, different approaches can then be tried out.

A good Forex broker also explains to beginners the possible trading strategies without which successful trading would not be possible. Likewise, a good Forex broker is always available for his clients and deals individually with their problems and answers their questions in detail.