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  Broker Directory  Broker Comparisons  How To Choose  Forex Broker Reviews

How to Choose a Forex Broker

These are some of the key items to consider:

  • Due Diligence- it is important to do your own  due diligence to find  a broker that suits your individual needs and meets your requirements, ,such as  whether the  broker is regulated, in what domain it operates, its capitalization, etc. 
     

  • Commissions/Spreads- Most forex brokers do not charge explicit commissions on their trades. They are into the bid/ask spread. Check into the "pip spread" on trades.
     

  • Dealing Desk-Non-Dealing Desk-  Some Dealers collect prices from a number of outside sources (ECN) and pass them through directly to their customers. Others make prices themselves based on outside sources. 

  • Types of Accounts- Brokers can offer a variety of  of accounts:

Demo (no funds at risk) or Micro (tiny leverage) accounts might be suitable for those just getting started in forex trading..

Mini (small leverage) accounts might be suitable for those with limited currency trading experience.

Full (normal leverage) accounts are most suitable for experienced foreign exchange traders.

Check with your broker for capital requirements for each type of account.

  • Platforms- Platform is just a fancy name for the trading program. Some are web-based and some are downloaded directly to you desktop. Take some demos to see which platform works best for you.
     

  • Additional Features- Different platforms provide different features. Almost all provide charting of some kind. Some can include some very sophisticated trading analysis software, analysis tools etc.  

Do you have questions or need help? We have  decades of experience in foreign exchange trading and are can help you make a suitable choice. Feel free to  CONTACT US..

 




Contact us if you need advice in selecting a broker. We will be pleased to assist.






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