CFDs are complex products. Trading is risky and may not be suitable for everyone. Excess volatility increases risk further. Be cautious. Past performance is not an indication of future results.
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Plain words

What is a broker?

A broker is the company that connects you to the market. This page explains what that means, how brokers earn, and what to look for.

A broker is a company that takes your buy and sell instructions and carries them out in the market. You cannot trade currencies or gold on your own — a broker is your doorway in. Brokers earn from small trading costs, mainly the spread.

What a broker actually does

Currencies, gold, and other markets trade on large global networks. A private person cannot plug into those networks directly. A broker does it for you.

When you tap “buy” or “sell”, you send an order — an instruction to the broker. The broker carries it out in the market at the current price. This is called executing the order.

A broker also gives you:

  • A trading platform — the app or website with live prices and buttons to place orders.
  • A record of everything — every trade, cost, and result in one place.
  • Access in small sizes — the market deals in huge amounts; a broker lets you take part with far less.

Your account with a broker

Before you can trade, you open an account — your personal space inside the broker’s system. Money you send sits there as your balance. Trades open from it, and results — up or down — change it.

Two kinds of account matter to a beginner:

  • A demo account. The practice version. It holds virtual money, so mistakes cost nothing. Email and password are enough — no documents. More in the demo account page.
  • A real account. The version with your actual money. Opening one involves an identity check with documents — see how opening an account works.

The sensible order: demo first, real later. Practice comes before money.

How does a broker make money?

A fair question, with a simple answer: small costs on trading itself.

  • The spread. At any moment there are two prices — one for buying, a slightly lower one for selling. The small gap between them is the spread, and it is the broker’s fee. You pay it the moment a trade opens.
  • Commission. Some account types charge a small fixed fee per trade instead of a wider spread.

One more: keep a trade open overnight and a small charge or credit called swap may apply. The platform shows it before you trade.

This is why a completely “free” trade does not exist. The costs are usually small, but they are real — an honest broker shows them clearly instead of hiding them.

How to choose a broker sensibly

There is no single “right” broker for everyone. But a few basics protect you while you learn:

  • Regulation. Check that the broker is regulated. Regulated means official financial authorities watch how the broker works and set rules it must follow. For example: Exness is a globally regulated broker, holding multiple licenses from respected financial regulators around the world.
  • A free demo account. Practice with virtual money, for as long as you like, before any real money moves.
  • Room to start small. You should never feel pushed to deposit more than you can afford to lose entirely.
  • Clear costs. Spreads, commissions, and swaps should be visible before you trade, not discovered afterwards.

Take your time — a broker that hurries you is not helping you.

Exness as an example

Exness is one example of a global online broker, operating since 2008. Facts that matter to a beginner:

  • Free demo account with virtual money and no time limit. One honest note: demo results don’t guarantee the same results on a real account.
  • Platforms: Exness Terminal in the browser, the Exness Trade app on a phone, MetaTrader 4 / MetaTrader 5 for more experienced traders.
  • Support is available 24/7.

Negative Balance Protection

If a sudden market move pushes an account below zero, the balance is reset to zero.

Negative Balance Protection means clients never lose more than they've deposited.

Common questions

Is a broker a bank?

No. A bank keeps savings, makes payments, and lends money. A broker does one job: it connects you to the market and executes your trades. And to be clear — this site is not a bank or a broker either. It is an educational guide.

Do I buy actual euros or real gold through a broker?

Usually not. With many online brokers, including Exness, you trade contracts that follow the price of the euro, gold, or another market — without owning the thing itself. These contracts are called CFDs, explained step by step in what is a CFD.

Keep going

What is forex?

The market most beginners meet first — currencies, from zero.

Read about forex

What is a CFD?

The contract behind most online trades — and why you don’t own the gold.

Understand CFDs

How to open an account

Signing up with a broker, step by step, documents included.

See the steps

Want to see a broker from the inside?

A demo account is a good first step: virtual money, real prices, no time limit. Take it slow.

The button is a partner link — it leads to the official exness.com sign-up page.

Open a free demo at Exness