5 Things to Consider in Finding the Best Forex Broker

[dhanpreet]

For over a decade, Forex has stand and remained as the best trading marketplace because of the excitement and the stylistic style it offers. On the other side, most of the traders failed because of getting the wrong basic, the reason why they struggle and never achieve their potential. For traders on an entry level, they need to remember two things to trade Forex successfully. First, they have to have a strong strategy and the second, they have to find a good broker. One that will help you trade like a professional forex trader no matter what level you are in, or the amounts you are trading with.

 

So that leads us to the question, how do you find a good broker, from the long forex broker list?

 

Here are 5 things to look at in finding the best broker:

 

1. Low Minimum Account Opening and Trading Amounts.

 

You should only trade with as much as you can afford to lose. Using a broker with low trading and account opening amounts, means that traders can trade at a level they are comfortable with. Many experienced traders 'learned' with smaller amounts and built their way up gradually.

 

2. Low spreads.

 

The spread is the difference between the bid and the ask price. The lower the spread the 'cheaper' the trading is.

 

3. Instant Execution Of Orders.

 

It's very important that a trader doesn't settle for a broker that re-quotes when they try to buy or sell. This 'slippage' can have a significant effect. Often this comes down to the liquidity a broker can provide, which is often indicated by the volume of trading that is going through them.

 

4.The Opportunity for Good Education and Training.

 

If you are new to Forex, you cannot form a real trading strategy without a full understanding of the fundamental and technical aspects of the industry. A good broker will offer the opportunity for this, as well as free professional charting and technical analysis tools.

 

5. Leverage.

 

Leverage is effectively borrowing money to trade. For example if you used 10:1 leverage then you would trade with ten times as much money as you put down. If you used $1 from your account, you would actually trade with $10.This can be a double edged sword, because it means the profits and losses can be much greater and happen much more quickly. A good broker will give traders flexibility to trade with as much or as little leverage as they need.

[yogeshwartyagi]

In fact these are very good essentials that must exist in a broker you are joining. Additionally you should also consider "good liquidity" i.e. you should be able to fund and withdraw from your account within shortest time, secondly you should see broker must be well-known and honest to avoid loosing funds if a broker brokes down.

[chuna1985]

A large Part of your possibility to succeed in forex lies on the efficiency of your broker. To choose one, i think it is necessary to check their track record and to also make a mini online survey to find out from other experienced users which broker is reputable.

[boniez]

But for me i prefer to choose broker which have many advantage for me, and if i felt comfortable with them, then it's my favourit broker, so far never broker with good promote such insta, because they have minimum invest with large leverage

[standart]

bonus join and many contest is one of my consider to join a forex broker and after that, I see they are provide good spread and fast execute order or not. because its important if we want to apply scalping trading style.

[hongshui]

For over a decade, Forex has stand and remained as the best trading marketplace because of the excitement and the stylistic style it offers. On the other side, most of the traders failed because of getting the wrong basic, the reason why they struggle and never achieve their potential. For traders on an entry level, they need to remember two things to trade Forex successfully. First, they have to have a strong strategy and the second, they have to find a good broker. One that will help you trade like a professional forex trader no matter what level you are in, or the amounts you are trading with.

 

So that leads us to the question, how do you find a good broker, from the long forex broker list?

 

Here are 5 things to look at in finding the best broker:

 

1. Low Minimum Account Opening and Trading Amounts.

 

You should only trade with as much as you can afford to lose. Using a broker with low trading and account opening amounts, means that traders can trade at a level they are comfortable with. Many experienced traders 'learned' with smaller amounts and built their way up gradually.

 

2. Low spreads.

 

The spread is the difference between the bid and the ask price. The lower the spread the 'cheaper' the trading is.

 

3. Instant Execution Of Orders.

 

It's very important that a trader doesn't settle for a broker that re-quotes when they try to buy or sell. This 'slippage' can have a significant effect. Often this comes down to the liquidity a broker can provide, which is often indicated by the volume of trading that is going through them.

 

4.The Opportunity for Good Education and Training.

 

If you are new to Forex, you cannot form a real trading strategy without a full understanding of the fundamental and technical aspects of the industry. A good broker will offer the opportunity for this, as well as free professional charting and technical analysis tools.

 

5. Leverage.

 

Leverage is effectively borrowing money to trade. For example if you used 10:1 leverage then you would trade with ten times as much money as you put down. If you used $1 from your account, you would actually trade with $10.This can be a double edged sword, because it means the profits and losses can be much greater and happen much more quickly. A good broker will give traders flexibility to trade with as much or as little leverage as they need.

 

 

I very much agree with your point of view.

When I am a newbies and work on forex,I am lost some money.Not only my personal problems but platform also has the responsibility.The platform have very high spread,even as higher as 8 pip,you know,if the spread high,that is very bad for our.And the platform always delay to execute orders,that is better bad than spread,if you cant stop trade instant,you maybe lost all money still auto stop trade.I hate that site,so,I give up it and join other good platform!

[sirwilly]

And trading with a low deposit can be tweaked so as to further reduce its risks by using mini lot sizes and avoiding high leveraging.

Although, this will cut down the profits as well, it is however a beneficial strategy for the new trader.

[t2t]

And another tip to choosing a broker will be a fast method of withdrawing and depositing of cash. Maybe adding e- payment processors.

[ellliottt]

Hi sir

before choosing a broker, i will advice you to find out if the broker is licensed and registered in the country of operation,this will safeguard your fund in the event of any eventuality .

and after that i look to Low spreads and Leverage 1.400 is very good and they have good Technical Support if i have problem with trade in future.....

thanks for share this with us

 

[wasi90lkv1]

i believe i want a few things from a forex broker before i decide to trade with them.

 

i want the forex broker to have a good reputation. i can check that by doing a google research.

 

i want the forex broker to have a small minimum investment requirement, since i am a newbie in forex trading.

[Legendkid]

This essentials are like angel sent to me.Since am a newbie in forex trading,i think by abiding by this rules,we can get a good and reputable broker that can be trusted.

[andry777]

If me, the first thing that i will take a look of broker site which I wanted to use in forex market, that is not facility or good benefits in there but I prefer to

take a look its reputation and testimonial from its members. That will be more important to know than its benefit, and also i will pay attention on how long

they have been stand as broker. If they are new broker, I won't take too much risk with using that broker. I will like to use broker which has experiences

for at least 3 years in forex market.

[chuna1985]

Any forex broker that has a swift payout plan is a good broker for me. UWC broker does very swift payout in their forum. The times that i try to withdraw from my account, it takes about two working hours for the payment to clear.

[ahmedrz3]

so where you can find the best forex broker to invest on it ,all you need to is search on monitors and get what information you want . then you have to take into consideration what you mentioned there is really helpful besides there are other factors such you watch the site status and leverage level

[boniez]

so where you can find the best forex broker to invest on it ,all you need to is search on monitors and get what information you want . then you have to take into consideration what you mentioned there is really helpful besides there are other factors such you watch the site status and leverage level

leverage level and facilities provided are not to be a major factor we choose a best broker, what matters is the outstanding service and reliable from the point of view, I believe a broker with a troubled withdraw it will be shunned by many traders

[reyah]

there are many criteria to consider in choosing a forex broker but first look at their user reputation. Try to look and read some positive feedback about that broker. The experience of it's client is the best testimonial.

[bloger90]

Before selecting a broker one important thing i would look at is that client reviews. You can look a around broker by others experiences. And how well they respond to customer (customer support) i would like brokers who allow 5 digit trading too. And the trading platform and the performance.

[giridhar123]

Bestbroker is who providing best support to trader,giving bonus and conducting contest and ofcourse they must be a registeredcompany.and anyway what the topic starter told also was good

[rizal83]

I think that a good broker is a broker that provides the best service for traders to handle any problems that occur on the trader and that is what counts, and in the process of transactions made by traders in a withdrawal or deposit is not too time consuming of time, according to I was with the two things then the broker is a very good broker

[rexway]

That is true but I also think that brokers should be consider base on the spread which they do offer this will help the trader to make excecution with low spread charge.

And also in forex market before chosing one broker try check the reputaion of the broker to see how things really work in there.

[PROPENSITY100]

Choosing a good Forex broker is as important as learning and practicing Forex before we begin our trading mission. Before we deposit our funds with a broker it is prudent to check its regulation and other factors like spread, time of withdrawal etc.

[gaban]

It's very useful thread for beginner who are still looking for broker to trade. And i think we can know the performance of the broker by trying to demo trading or if we wanna feel real trading with that broker, we should use bonus, don't make deposit first.

[pepy]

It's very useful thread for beginner who are still looking for broker to trade. And i think we can know the performance of the broker by trying to demo trading or if we wanna feel real trading with that broker, we should use bonus, don't make deposit first.

for newbie i agree they can use bonus from forex forum or forex broker so they can start to trade and then will trying to learn more about forex in real account. and also it will open more chance for them to earn money, but spend some deposit for few newbie that afford to do that is not a big deal

[gaban]

for newbie i agree they can use bonus from forex forum or forex broker so they can start to trade and then will trying to learn more about forex in real account. and also it will open more chance for them to earn money, but spend some deposit for few newbie that afford to do that is not a big deal

 

Making deposit for trading for a newbie is not an issue, just that they should be prepared to lose money in forex for the first time, and make sure we have to choose the right broker for trading if we want to trade with their own money.

[pepy]

 

Making deposit for trading for a newbie is not an issue, just that they should be prepared to lose money in forex for the first time, and make sure we have to choose the right broker for trading if we want to trade with their own money.

are you sure? maybe for some is not but the others? they don't have any capital to start and few knowledge to discuss in forex forum. it is a big obstacle for them, if they can spend more time in forex forum then it will be not an issue for them but for who cannot spend much time, i think that is not a goo thing for them