Forex Brokers

Forex Brokers

of the hardest decisions you face he starting choosing forex broker .
a search online you will find hundreds of different forex brokers .
This list of things when choosing a forex broker:

1. Credibility
Reputation is an important thing when it comes to hiring forex brokers. Although you would not really use their services in terms of marketing yourself or your business, you need to make sure that you are not partnering with a run off the mill type of broker who cannot provide you with results. You also need to have someone whom you can trust enough with your transactions and even some vital confidential business information.

2. Regulation
the most important factor because whichever broker you decide to go with,So if they are based in the US you must make sure that they are fully regulated with the relevant authority.
for example, offshore forex broker that is completely unregulated, then you are taking a huge risk because you may never see your money again.

3. Margin
The margin is the amount of deposit required to either open or maintain a trade position. Margins are either "free" or "used". A used margin is the amount which is being used to maintain a position that is open, and a free margin is the amount that is available to open a new trade position. Check what the broker's margin requirement is. Is this margin the same for both standard and mini accounts. Does the margin change for different currency groups or change for different days of the week
4. Demo Accounts
If you are inexperienced, in forex
and you want to test out a broker's trading platform before deciding whether or not you wish to open a live trading account, should choose a broker that provides a free demo account.

5. Spreads
If you are a relatively long-term trader and mainly use the 4 hour or daily charts, However you intend to trade the shorter time frames then your points gains per trade will obviously be a lot less, So as a general guide you ideally want to choose a broker that offers spreads of around 2 or 3 pips for the EUR/USD and GBP/USD

6 Leverage
The amount of leverage offered by different forex brokers . Some may only offer 100:1 ,
leverage while some may offer as much as 400:1 .

7. Account Types
Although all forex brokers cater for the well capitalized traders, for those traders who wish to trade smaller positions not all of them cater . Therefore if you yourself fall into this category, then you should look out for brokers that allow you to trade mini-lots (equivalent to around $1 per pip) or micro-lots ($0.1 per pip).

8 Customer Service
just starting out as a forex trader you will probably have several questions :
when you open an account with a broker. So therefore you should try and join a broker that offers a high level of customer service.

9. Customer Comments And Reviews
There are several websites which contain customer reviews of all of the leading brokers and you will find no shortage of opinions on all of the different forex forums.
so don't waste too much time looking for the perfect broker.

Do not forget to enquire about the services being provided such as leverages and the kind of technical and trading tools. A good broker is the one who has a complete understanding of Forex market and believes in working with quick and peaceful mind.

Good luck