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  1. #1
    forexdemor is offline Member
    Join Date
    Mar 2012

    Default How to choose the forex broker?

    Forex broker is vital importamt in the daily trading. I am a new bird, don't know how to choose the forex broker. can you geive me some advice. That would be better if you share your experiences. Thanks!

  2. #2
    Ruchare is offline Junior Member
    Join Date
    Nov 2011


    Hi Forexdemor

    How to choose the best Forex broker is the question that any new Forex trader asking. The following post summarize the parameters you need to check in order to choose the best Forex trading broker.

    1 - Check That the Broker is authorized and regulated – reliable broker must be authorized and regulated by leading regulation bodies like: NFA, FSA and CFTC. choosing Authorized broker means that your money is protected.

    2 - Easy to use trading platform – check that the broker suggesting easy to use forex trading platform. The platform should be simple and intuitive. The following tips will help you choosing Good Forex trading platform

    3 - Support and Customer service – Support is highly important and key factor when choosing Forex broker. It’s important to check broker support before trading on real money. My advice is to open demo account and ask the support few questions in order to check their response time and their overall quality of support.

    4 - Check the leverage options – the rule is simple - The higher the leverage is, the more profit you will make. For example: leverage 1:100 means that you can trade on $100,000 worth while maintaining only $1,000 in your account.

    5 - Demo Account – leading brokers suggesting free demo account. It’s a must to open a demo account and trade on virtual money in order to check the broker platform and support. Most brokers limit the demo accounts for one month. Plus500 is Forex broker that suggesting unlimited demo account.

    6 - First deposit Bonus – Forex brokers are struggling on each new customer (trader). Because of the huge competition they suggest high first deposit bonuses. For you as a new trader it’s great because you get extra money to trade with.

    7- Withdrawals and Deposits – check the broker policies especially regarding to withdrawals. Pay attention to the fees for bank or wire transfers and if you need to wait long time to withdraw your funds. I personally like brokers that allowing PayPal (for deposits and withdrawals) I think it’s the most comfortable way.

    But for US clients, i recommend to choose a good brokers which receive US clients. Because now many good brokers like FXCM, FOREX.COM they just provide US clients very low leverage 1:50, for forex traders, it is not high enough. For US clients, you can try PROFIFOREX, it is a good broker to receive us clients and to provide them high leverage.

  3. #3
    gavind is offline Member
    Join Date
    Mar 2013


    Some broker would let you copy a trader then you just give a fraction of your profit to them. That way, you can see "it" in real time action.

  4. #4
    Richard Meyer is offline Junior Member
    Join Date
    May 2013

    Thumbs up Things to remember while choosing a Broker

    Quote Originally Posted by forexdemor View Post
    Forex broker is vital importamt in the daily trading. I am a new bird, don't know how to choose the forex broker. can you geive me some advice. That would be better if you share your experiences. Thanks!
    Hi buddy what you would consider first while choosing a broker, Its definately that he must offer minimum spreads and maximum leverage with security.All this thing are covered by my current broker, "SAXfx".After changing my broker to "SAXfx" i have made 2k USD in a few months.

  5. #5
    Ryan Jones is offline Junior Member
    Join Date
    May 2013


    First thing is to see whether the broker is authorized and regulated...they must provide good platform for trading...
    I am trading with "SAXfx" they provide everything what I mentioned above they are reliable and they offer "0" spreads and leverage of 1:600

  6. #6
    caitlinrogers is offline Banned
    Join Date
    Dec 2016


    Months ago, I am just like you looking for a great broker that would help me in my Forex Trading. It wasn't easy, mind you I did everything just to have it. The reason I want to start a business in this online trading, aside from that this is just so convenient I also need some extension for me to have a secondary income especially that the cost of living in our country is too high. What I did to keep me on track with trading was that I keep on reading and reading so many blogs like trading life and trading indices these are just some of the blogs that helped me a lot. I hope at least this one helped you, it would be my pleasure if it is.

  7. #7
    CaptainJack is offline Senior Member
    Join Date
    Jul 2016


    Brokers are the backbone of the Forex Trading, and you need to find it out the one which is appropriate for you.

  8. #8
    Mark M is offline Senior Member
    Join Date
    Dec 2016


    When choosing a broker there are many things that you have to check. According to my trading experience first of all I will be looking for in a broker is, if they are regulated or not. Then I will see their deposit and withdrawal system how it works. Actually only regulated trading broker guarantee their clients funds.

  9. #9
    mang_ncep is offline Junior Member
    Join Date
    Sep 2017


    With FXB Trading, traders are bound to locate the best among the trading platforms that they will come across in the entire trading market. It highlights popular platforms such as MetaTrader 4. The website offers updated daily news and quality trading help for traders.
    Earn 6% CASHBACK from FXB Trading

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