How To Choose A FOREX Broker

 

Most investors who trade Forex stocks use a broker. A broker is an individual or a company, who buys and sells stocks according to the investor's wishes. Brokers earn money by collecting commissions or fees for their services.

You should check that a broker is registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) as protection against fraud or abusive trade practices. A Forex broker also needs to be associated with a financial institution, such as a bank in order to provide funds for margin trading. Picking the right Forex broker for you will take some work on your part. There are brokers who charge a flat fee and some that charge commission. It may be a good idea to talk with friends and business associates about their brokers. You may get some good leads, and you're certain to hear who to stay away from. There is nothing like word of mouth advertising.

If you are thinking of investing online, you could choose several online brokers and contact their help desks. Seeing how quickly they respond to your questions could be key in how they will respond to their customers needs. If you don't get a speedy reply and a satisfactory answer to your question you certainly wouldn't want to trust them with your business. Just be aware that as in other types of businesses, pre sales service might be better than after sales service.

 

There are some points that can help to choose a good broker:

1. Regulation means broker is regulated or not

2. Customer support

3. Payment withdraw policies

4. leverage

5. Your requirements and services offered by them

 
Paul75:
There are some points that can help to choose a good broker: 1. Regulation means broker is regulated or not2. Customer support3. Payment withdraw policies4. leverage5. Your requirements and services offered by them

The first thing that i will be looking for in a Broker is if they are Regulated or not. Then i will see the Deposit and Withdraw options that are available

 

Understand the difference between market makers, DMA, STP, DMA/STP, and ECN brokers:

DMA (Direct Market Access) | DMA Forex brokers

 

Its really good i started this post as the useful things that you guys have posted is really interesting. I totally agree that we need to know how to chose our broker because the main thing that we scared about is the security. When we chose a broker we have to make sure that we are choosing the one that is more secure and things that we always don't like to do is reading the terms & conds. Guys, this is very important, i would advice all of you to always to read it. )

 

There are many of us making good time with forex but the main thing we have to look will be the best strategy followed by the best in market. choose forex brokers as they can provide guidance to new investors of the market.

 

Why not dealing desk ?

"As far as the USA based companies are concerned, the accusation that dealing desk brokers manipulate the quotes is absolutely untrue".

See my review here: <...>

 

This is how I choose a broker.

The first and the foremost for me - a broker should be regulated.

Then goes the minimum deposit and the leverage.

Then withdrawal process - it should be fast and without any fuss.

Then the customer service - I'd like to have an 24/7 opportunity to communicate with someone who can help me in solving technical problems.

And the last is the presence of various bonuses and programs.

 

Choice of a reliable broker is the first step for every forex trader.

My basic criteria is the reputation and stability.

recommendation by friends and verification by yourself are more reliable.

 
Paul75:
There are some points that can help to choose a good broker: 1. Regulation means broker is regulated or not2. Customer support3. Payment withdraw policies4. leverage5. Your requirements and services offered by them

I am agree with you, Paul75.

That's why I like trade with my green broker now,

because my broker is the regulated broker,

has the fast response with their customer support,

the policies of payment withdrawal makes me feel more secure to make finance transaction,

their services make me feel satisfied,

that's why my green broker got the award as <...> and <...>

 

Just join in forex forum and looking forward there what broker are mostly used by traders. I found <...> as the trusted broker now.