How to Choose a Forex Broker?

[imanu01]

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.

I think many brokers are limited to certain regions and countries onle. We must first identify those that fit work in our zones

 

[mitchalcling]

@imanu01 I agree with you on that! It’s prudent to first check which brokers are offering services in your country, whether they are regulated or not, what their features are and then test them on a demo account. I’ve also recently shifted to AAAFx and am using a micro account with $500 to see how it is. Will invest more money once I am confident.

 

[Aldo-Jr]

I suggest choosing a broker based on regulations and reviews from other traders as well. It is also good to do your own research and trade with their demo account accounts to know in depth about their platforms.

 

[deaddog]

You don’t really have to make it that hard for yourself. If you know what you need your broker to provide you with, you will be able to find a good one easily.

 

[Ricter]

You may have already created a list of the features you want from your broker. But just make sure that they are regulated because it’s such an issue to withdraw your money from unreliable, unregulated brokers.

 

[Lexzyoluwaferanmi]

mainly what. i look for is the the fastest withdraws and the qucikest depsoits

Yes it the best

 

[Bane]

I prefer to go with regulated brokers for the safety of my funds. It’s even better if a broker has min. deposit requirements because that gives me a chance to see how good broker’s trading conditions are. I remember depositing $50 with fxview and making small withdrawals in the beginning. It helped me make an informed decision.

 

[tonendless]

Anyone know about LiteFinance broker? Is it good or not? I want to try their copytrading.

 

[Serimeter]

The steps I followed while selecting a forex broker:

1. Identified my requirements.
2. Compared different brokers and selected the ones that fit in the criteria I’d set.
3. Checked their reviews on trusted sites.
4. Tested the platform through demo accounts.

There were 2-3 brokers that I was left with in the end. Gladly, I’d chosen the brokers with low min deposits so I opened accounts with all. Working on a live account gave me more clarity and I stayed with turnkeyforex.

 

[zither]

for me, i will make sure that the broker is non dealing desk type.

 

[mtrua]

I get quick answers to my questions, are deposits and withdrawals fast, and are there any delays in my transactions? I test them first with a demo account, and then with a small balance.