FOREX ARTICLES

4 Tips On How To Choose A Good Forex Broker…

Choosing a good Forex broker is a hard job. Ultimately, we are going to deliver them our hard-earned money. This is the main reason why you shouldn’t just rely on the first Forex broker that appears…

As you know, there are some brokers that have the MetaTrader platform and others that don’t. Despite this, they both should offer you a good charting package. And unless you want to use the broker for robots, you have a lot of choices.

But there are a few things you need to look for when choosing a reliable broker:

1. The first thing you should look for is a regulated broker. There are a lot of brokers out there that aren’t regulated. This may be a problem if you send them your money because it may get lost and you have no way to get it back. There are a lot of Forex traders that already went through that situation. Don’t be one more…

2. One of the most important things when you’re choosing a Forex broker is to see how their customer support works. If the broker you choose is a good one, they should have email, phone and chat support. Whenever you have a problem, you know you can count with them. But instead of just relying in these, why don’t you read their website and make them some questions like the leverage they allow you to use, or anything else. If possible, try to use all support types in order to see if they’re fast and care about their customers.

3. Most Forex brokers offer you a trading platform. Some of them offer you the MetaTrader platform but there are others. But besides having this, you should know things like how many pairs to trade they offer you; if they have any minimum account requirements; what is the minimum size for trading; if their executions are fast; if they have slippage and if it is in normal conditions or only on more volatile markets; whether their platform is reliable and stable; among others.

4. The last thing I recommend you to do is to look for reviews about the broker you’re thinking about opening an account with. The best reviews you can read are from real clients. They know all about their support, the best and the worst things about them. And they’re willing to share this information with you. All you need to do is a Google search with your broker’s name followed by the word review or reviews. Read them carefully. Please remember that you’re going to find good and bad things about all Forex brokers. You’ll need to make a balanced decision between what you really need to be provided with and what they actually give you.

After all this research, you’ll probably end up with one to three brokers. So, it’s time for a practical test. Why don’t you try their demo account? We all know that differences between demo and real accounts are sometimes huge, but why not try it if it’s free? It may help you make a final decision.