How to Choose a Forex Broker?

[anuj]

according to me you should check trading company by their market value and feedbacks as well as features they providing you.Personally i love forex-metal as i traded gold under them and got benefited a lot.

[supertrader]

Find the information about the broker before you start via forums and google. Try to see how many positive reviews and negative reviews. See if they provide a good withdraw and have a minimum investment.

[F0r3x]

You should verify the reputation of a broker before investing with it.

Spreads, tax, swaps are also important.

[brownie]

I value stability and customer service as the most important factors, that's why I stay with hotforex after many comparisons.

however, I am still open to see whether there are good choices too. it really needs time to test.

[reedconnor]

It took me quite a long time to choose my broker. Few things that I look into:

 

1. fast execution, minimum or no slippage

2. reliable support team

3. minimum deposit (as I'm a small trader)

4. the presence of the broker in my country

5. social media presence (with no rubbish posts like stack of cash or money signs all over the Facebook page!)

6. most importantly it doesn't trade against you! (must be STP broker)

 

These are just a few points that are important to me. There could be more things that you want to consider. Hence, I chose Fxprimus. I think they have what other brokers don't offer - educational approach, something like Babypis. You don't want a broker that can't wait to make you spend on them, you want a broker that spend their time and effort on you first before you are ready to start trading.

[firmanta]

Maybe you can try Exness for trading =D

Exness have a Cent Type Account and Mini Type Account.

Leverage up to 1:2000 for Forex Mini and Forex Classic accounts with minimum floating spread. So I think it's very suitable for a scalpers. The others trading condition with Exness:

1. Instant execution & Market execution

2. Narrow spreads

3. Fast execution of orders

4. Working with electronic payment systems

5. Flexible margin requirements

[brownie]

It took me quite a long time to choose my broker. Few things that I look into:

 

1. fast execution, minimum or no slippage

2. reliable support team

3. minimum deposit (as I'm a small trader)

4. the presence of the broker in my country

5. social media presence (with no rubbish posts like stack of cash or money signs all over the Facebook page!)

6. most importantly it doesn't trade against you! (must be STP broker)

 

These are just a few points that are important to me. There could be more things that you want to consider. Hence, I chose Fxprimus. I think they have what other brokers don't offer - educational approach, something like Babypis. You don't want a broker that can't wait to make you spend on them, you want a broker that spend their time and effort on you first before you are ready to start trading.

 

It's true, Customer support is a key factor to consider

[yasefsami3]

Hello, you can choose a decent broker by trying some that are well rated and reviewed by traders all over the net you will find a lot out there but only few will suit you ! you gotta try their demo accounts and see if they are good, also ask people in your entourage.

[Kristianto]

A good recommendation is to always try the free Demos first. All reputable brokers have got free Demo accounts for you to try. See if the platform suits you and you are comfortable with using it.

 

I've been using Saxo for the longest time. No complaints so far.

[CH_17]

A good forex broker should be regulated by a known regulatory board like FSA, NFA. Check the broker's reputation, how big it is and how long is the organization's history. Also, you need to know how safe your money will be with your chosen broker. I have been trading with HY Markets for over 6 months now. I chose them because they offer their clients the "CLIENT MONEY PROTECTION POLICY" There is a 100% segregation of retail client funds with top-tier banks, transparent deposit and withdrawal policy. If you haven't found a broker to trade with, it's worth giving them a try. Mini account starts from $50. Good luck!

[kurtS]

A good forex broker should be regulated by a known regulatory board like FSA, NFA. Check the broker's reputation, how big it is and how long is the organization's history. Also, you need to know how safe your money will be with your chosen broker. I have been trading with HY Markets for over 6 months now. I chose them because they offer their clients the "CLIENT MONEY PROTECTION POLICY" There is a 100% segregation of retail client funds with top-tier banks, transparent deposit and withdrawal policy. If you haven't found a broker to trade with, it's worth giving them a try. Mini account starts from $50. Good luck!

 

I can not agree more. The most important thing is that broker have some authority behind his back...

[⭐ alify]

Choose broker which Trusted, reliable, give comfortable service and has quick responses. :)

[daniuwei]

There's a similar question on another thread. So I just cut and paste my reply here:

 

1. How does your broker protect your funds?

2. Is their information security (IS) certified? Like for example, do they have ISO 27001 certification in IS?

3. Is the broker fully audited?

4. Is the broker a fully established company?

5. Have the broker receives any recognition or awards for their performance?

6. Is the brokerage platform that you are using is created by traders for traders?

7. Does the broker offer FREE professional coaching and traders tool?

8. Do they offer at least 60-day use of the Practice Account?

9. Fast application approval? Say like 24 hours?

10. Is it easy to fund your account? Do they offer many withdrawal options?

11. What is the minimum amount to open an account? As low as USD100?

12. Do they offer micro, mini and standard lot in a single account for your convenient sake?

13. Do they offer a lot of products, more than just Forex? Do they have metals, oils, commodities CFDs, major indexes and global equities?

14. Make sure they are not dealing desk so that they do not trade against you. If they are a Straight Through Processing (STP) broker, then that's the right one.

15. How is the execution like? You want a broker with absolutely no requotes and no slippage with tight spreads.

16. Do they offer high leverage?

17. Do they allow any kind of trading style including hedging?

18. Do they offer mobile platforms? Can you trade from your web browser?

20. Do they offer 24-hour customer support? Best with live chat.

21. Is your broker licensed and regulated by the Financial Services Commission (FSC)?

[jimmyFX]

I think the one that must had a regulatory law certificate and I think Oanda quite good...

[diablo88]

I think you can visit forex-ratings.com and read some review to get one broker.

PLease try demo account before deciding the broker you would invest. Also payment method should charge low fee (or free) and support the most popular as CC, VISA/MASTER,PP, Skrill, LR,...

[average.joe]

Any opinion about agea?

[firmanta]

There's a similar question on another thread. So I just cut and paste my reply here:

 

1. How does your broker protect your funds?

2. Is their information security (IS) certified? Like for example, do they have ISO 27001 certification in IS?

3. Is the broker fully audited?

4. Is the broker a fully established company?

5. Have the broker receives any recognition or awards for their performance?

6. Is the brokerage platform that you are using is created by traders for traders?

7. Does the broker offer FREE professional coaching and traders tool?

8. Do they offer at least 60-day use of the Practice Account?

9. Fast application approval? Say like 24 hours?

10. Is it easy to fund your account? Do they offer many withdrawal options?

11. What is the minimum amount to open an account? As low as USD100?

12. Do they offer micro, mini and standard lot in a single account for your convenient sake?

13. Do they offer a lot of products, more than just Forex? Do they have metals, oils, commodities CFDs, major indexes and global equities?

14. Make sure they are not dealing desk so that they do not trade against you. If they are a Straight Through Processing (STP) broker, then that's the right one.

15. How is the execution like? You want a broker with absolutely no requotes and no slippage with tight spreads.

16. Do they offer high leverage?

17. Do they allow any kind of trading style including hedging?

18. Do they offer mobile platforms? Can you trade from your web browser?

20. Do they offer 24-hour customer support? Best with live chat.

21. Is your broker licensed and regulated by the Financial Services Commission (FSC)?

 

Nice post sir, I have evaluate my broker from all of that's question. From all the things that I know about my broker Exness, it have a good answer from all the question. But, if you don't believe me, just try it yourself with a demo account first to feel all the advantages that Exness give for the traders.

[Gaban]

We have choose regulated, trusted and reliable broker which give comfortable service for us. InstaForex is my choice.

[JamieFX]

we have choose regulated, trusted and reliable broker which give comfortable service for us. Instaforex is my choice.

stop promoting your broker here

[Gaban]

stop promoting your broker here

 

I'm not promoting, i just tell that i choose insta as my broker to trading, because i get comfortable trading to trade. Is it wrong? :)

[John1]

To start with, you can choose an ecn broker instead of a market maker/dealing desk.

[lollabun]

I think a suitable broker for my trading is a broker that allows scalping, hedging, trading allowed during breaking news and extreme market volatility, Expert advisor, and regulated

[limjackly]

Find out if your broker charges commissions. Many brokers do not charge commissions for most transactions, but there are some who want a commission on everything you do in the market. If you find that you are with one of these, it may be time to find a new one, to get away from shady business practices.

http://forexcepat.com/indv1/biggrin.gif

[diablo88]

One broker offer bonus, fast payment, good spreads, no cheated with my trades or my money would be my broker (regulated broker). Hotforex, Fxpro, Insta are those brokers.

[Gaban]

One broker offer bonus, fast payment, good spreads, no cheated with my trades or my money would be my broker (regulated broker). Hotforex, Fxpro, Insta are those brokers.

 

I'm trading with InstaForex too. And starting trade by using bonus post that i get from their forum and so far, I've never found a problem for process of withdrawal here. :)