How to choose a forex broker?
Choosing a forex broker will be the first important decision you make as a new trader.
First of all, make a list of forex brokers you are interested in. Then compare forex brokers on a number of criteria.
Secondly, select a few brokers that appeal to you the most and open demo accounts with them to give it a try.
Along with trading, it is equally important to check the brokers' customer support services to see if this assistance is sufficient to meet your day-to-day needs and whether the support service is capable of responding to your inquiries quickly and professionally.
Once a balanced solution is formed, it's time to start trading for real: now you have all the necessary knowledge to register a real account with a forex broker.
Actually, the main difficulty when choosing a forex broker is to specify which trading parameters you need. Every brokerage company has both strengths and weaknesses, and you decide which ones are critical and which ones can be neglected.
There is a method that can be very effective in helping you make the right decision. Before choosing a brokerage currency, consider the questions below. Perhaps the forex ratings reviews and comments will be critical in shaping your opinion.
How to choose a forex broker?
1. Type of company: broker or dealer? What is the company's capitalization?
2. Suggested trading platforms: popular, well-known or little-known; are they reliable, what are the pitfalls?
3. Types of trading accounts. Are there accounts for traders with different skill levels, investment volumes and trading preferences?
4. Commission structure: additional costs that must be paid by the trader.
5. What bonuses and promotions does the company offer?
6. Company Standards for Leverage and Margin Requirements.
7. Customer support: reliable, efficient and available whenever you need help?
8. Regulation: What licenses does the company have, in which jurisdictions were they issued?
Each of these points is critical. To avoid misunderstanding these statements, we invite you to review their details below.
Use our Forex Brokers Comparison Tool to get all the essential information you might need about the best Forex brokers. With us, you can immediately identify the strengths and characteristics of various forex companies.
