How to Choose a Forex Broker?

[mlawson71]

I wouldn't trust such brokers at all, that does sound incredibly shady!

 

[KingKai]

I believe to choose a broker you need to know your trading style first and find a broker for example if you are a scalper you need a broker with low spreads and if you hold for long you need a broker with no to low swaps

 

[Sébastien]

Choose a broker that is an advantage to your trading methods, like a broker with tight spreads and fast execution can be suitable for a scalper and be aware of scammers.

 

[Daantje Pieters]

There are many brokers in Forex trading but it is not possible to trade in all brokers. If you are not the right broker, it is not possible to increase the winning percentage by trading. I have come to believe from a Eurotrader. This broker helps me a lot. So I always try to trade by investing in this broker.

 

[mlawson71]

All brokers? Most people don't use more than one or two, really. What's left for all of them.

 

[Murat Yıldırım]

you are absolutely right. Choose a broker that is an advantage to your trading methods, like a broker with tight spreads and fast execution can be suitable for a scalper and be aware of scammers.

 

[Pauly72]

so many dodgy brokers out there always double check and make sure they are worthy before signing up

 

[JOSPIDOFX]

Top8ForexBrokers.com helps you compare and choose your preferred Forex Broker. We suggest keeping the following checklist in mind when making your decision:

• Is the Forex Broker regulated?
• Account Details: Ideally, your broker should offer either a selection of account types or some element of customizability. Competitive spreads and easy deposits/withdrawals are good indicators too.
• Number of Currency Pairs offered: The variety of currency pairs on offer, as well as the quantity, should be considered (the more of both, the better).
• Availability of Customer Service.
• Quality of the Trading Platform: look for a platform that is easy to use, straightforward and offers a collection of technical and analytical tools to enhance your trading experience.

Good question

 

[mlawson71]

so many dodgy brokers out there always double check and make sure they are worthy before signing up

Indeed. Another thing to watch out for is clone companies that provide the data of real brokers - addresses, licenses, etc. - but are in fact scammers. One should be particularly vigilant about those.

 

[dzekfx]

For me i suggest the one with small spread and have good support and free class and training such as ocafx and xmglobal

 

[MikFX]

Look for a well established and regulated broker that is well regulated. After narrowing down you may still be left with much choice so its definately not easy choosing.

 

[layer]

Regulation of broker is very important and do not trade if your broker is not regularized.

You have to keep the money as safe as possible

 

[movilea]

The most important thing for me is the regulation. i think is very important to know if your money is safe!

 

[mlawson71]

I completely agree. That said, other than regulation, I also look at trading conditions - those too need to be favourable.

 

[Daantje Pieters]

Online research is needed to know about brokers. If a trader chooses a broker without doing online research, it will be a little difficult to earn good money from that broker. So every trader has to choose a good broker first. I like Eurotrader brokers. This broker helps me a lot.

 

[Sandra Tennyson]

We need to be street smart in selection of broker; it’s not just about regulation but also broker’s reputation that should be checked. I work with proven broker in FreshForex, as apart from been regulated, it’s also highly reputed one with been in the industry for last 14 years, it’s incredible achievement and gives me the kind of security I wish for. Also, it’s love able with the instant payment system they have.

 

[mlawson71]

True, some regulated brokers have a worse reputation than others. That is why it's important to do extensive research.

 

[Robert Hills]

The trading knowledge alone cannot help traders to be successful in the forex market. Besides good trading knowledge, traders also need to ensure a reliable trading broker like Eurotrader. Brokers can certainly influence the way of trading. So, traders can rely on a broker that guarantees maximum trading security with a wide range of trading techniques and tools.

 

[sleepingtrader]

I use XM.COM broker for many years.
It is cheap and reliable.
Never had any issues.
I think you must understand your requirements first:
1. Do you need access to MT4/ or MT5 platform?
2. What leverage you want to use?
3. Deposit/Withdrawal ways
4. ETC.

 

[mlawson71]

Personally, I prefer brokers regulated in the country I live in. I trust our regulator and I'd rather work with a company that has a physical office here.