How to find a Good Forex Broker

[davidjss]

How to find a Good Forex Broker

Financial Regulation Authority

If an online forex broker is causing some concern over the legality of their trading methods or if in fact prospective trader needs to know if a forex broker is legal, then just look online for a local governing office for financial regulation. They will direct the trader to the right office online and if the forex brokers company is not listed, then that company is bogus, and will just take the money and eventually collapse, leaving all investors with nothing.

Demo Accounts

A good online forex broker, will offer a demo account. This is an account for the trader to get used to the software programme of that company. In the account, will be a certain amount of 'toy money', this is what the new trader can play with, just to get a feel for the market and the trading platform, without the risk of losing any money
Online Registration



Not an important aspect in the search for a broker, but the registration form that needs to be filled in online will only take approximately ten minutes to fill in, and a few minutes after that, the trading can begin. You will need your bank and credit card or pay-pal details at hand.

Real Time Prices

This is very important, some obscure forex traders will buy or sell your currency, with an 'at best price' message after it, this is no good, the trader can lose money from it. A decent forex trader will have real time prices, which is the actual price on the markets, and the trader will be able to buy and sell at the price that is shown on the screen.

 

[riddick09]

Basically, to find a good forex broker you can ask traders you know. But then sooner you will see it for yourself by doing research such as the forex brokers reviews as well as check the different forums that discuss forex brokers and which are they currently use. One more thing is that better to have the old forex or popular forex brokers.

Thus, a forex beginner should not try to have the new forex broker. I suggest to have instaforex for newbies as they have here great support. And also to have the broker that used mt4 trading platform.

 

[ayushsrk]

Finding or searching for a good broker is not a very hard thing.There are various resources in the internet that can prove to be much more reliable source of information.And also expert suggestion is a prime factor by which we can know a lot about the broker.And demo account should not be only taken for practice but it can also be used to test the reliability of the broker that we may be going to select.

 

[valexer]

I think with so many brokers right now, it will not be hard for a beginner to find a good broker. You can ask a friend of yours on which broker he is in and you can ask him what are the advantages and disadvantages of his broker. You could also search for it your self on the net. There are many websites that provides reviews for different brokers and you can make your choice out of their reviews. The most important thing is that to choose the broker that best suit your needs and expectations as a new trader.

 

[Sixteen]

There are many competition between brokers in the forex market and everyone was to attract users who will use them to trade in forex. Inorder to find good brokers, we need to make a good research and ask other traders what brokers they are using and know the benefit they derives using those brokers.

 

[budado]

Theirs three questions that you must ask yourself. Do you look for broker site because of the processor your using? Like accepting LR, PP or AP?
Do you look for broker site that has low minimum or have some features that you like? Or do you look for a regulated broker site?
Most regulated broker site has high minimum running in hundreds and even in thousands of dollars but most of them don't accept LR, APP or AP.
While does who are not regulated has low minimum.

 

[riddick09]

I think most of the brokers we have today do have most of the payment methods available and usually even the bank wire or transfer have it. Although, I usually don't prefer any because I do have all of it but then I used only the usual payment processor. So far, most of those brokers just offer minimum of 1 dollar for deposit and withdrawal which is good already. Although, I can't review them all only I prefer those brokers that are popular already and recommended by others.

 

[Cutiekc]

Theirs three questions that you must ask yourself. Do you look for broker site because of the processor your using? Like accepting LR, PP or AP?
Do you look for broker site that has low minimum or have some features that you like? Or do you look for a regulated broker site?
Most regulated broker site has high minimum running in hundreds and even in thousands of dollars but most of them don't accept LR, APP or AP.
While does who are not regulated has low minimum.

nice question,i think for me if i am to look for a broker those of your question must be in my mind perhaps apart from that we have many forex forum where sucessful trader contribute posts we can use that medium in getting a good forex broker rather than going through all those long process1

 

[kasual]

unfortunately some broker who already listed in financial regulation authority and reliable not use third party in deposit and withdrawal issue. they only use credit card or bank to bank transfer. for example is fxdd. if we like to use ecurrency processor such as LR to make deposit or withdraw, we not necessary to worry because some regulated broker also accept this method.

 

[budado]

I'm just curious. Many broker sites claim they are legit and regulated then how come most of them does not accept U.S. accounts? What is it in U.S. that they don't want to accept? Since they say they are a legit broker site? This for me a clear sign that theirs something wrong.

 

[brokenblade]

You can easily find a good broker. You just have to research the various brokers that you are interested in. You just have to look at each broker and make comparisons. You should choose mostly based on your needs. However, you need to look at customer reviews in order to know if it is a good broker and not a scam broker.

 

[rexway]

I think this is not every big deal to fine a good forex broker we can google search and see from the list the most reputable onece which we can trade with forex trading is sometime has something to do with your broker as well

 

[akufandy]

finding a good broker is a lot easier task than choosing which currency you'll buy at the time and when will you sell it.. you just need to read more and do some research and compare it

 

[zebrut]

your word is true but to look for brokers who are truly in line with what we expect is very difficult because all brokers must contain risks but these risks can be cut in a way that many find information about the broker and provides investment is not too big to broker is, if we are really confident against the brokers and indeed proven reliable then we can provide substantial investment to the broker

 

[budado]

The first question. What are you looking to have in your broker site? Because before you can find a broker site that is good for you, You need to have a list of requirements that you want to find in that broker site. That's how I started when I look for a broker site. Sometimes if we are looking for something we can't find it unless we know what we are looking for.

 

[rexway]

Yes that is correct I think things like how the broker charges their spread and commision should be the first thing which the trader has to consider here and another thing is that who ever try to chose broker most make his choice wisely to avoid had i known

 

[junaid1001]

I think all the Forex brokers are good, specially Instaforex is a good broker, i opened an account with this broker and i really enjoyed their services for the clients, and their payment process is very fast and secure, also charges are very reasonable.

 

[indieover]

Yeah I think we're getting more familiar with different broker and we'll see that there's indeed good brokers out there. So it's indeed very good to trade with different brokers as well so we would get more familiar with them.

 

[Maham Fatima]

How to find a Good Forex Broker

Financial Regulation Authority

If an online forex broker is causing some concern over the legality of their trading methods or if in fact prospective trader needs to know if a forex broker is legal, then just look online for a local governing office for financial regulation. They will direct the trader to the right office online and if the forex brokers company is not listed, then that company is bogus, and will just take the money and eventually collapse, leaving all investors with nothing.

Demo Accounts

A good online forex broker, will offer a demo account. This is an account for the trader to get used to the software programme of that company. In the account, will be a certain amount of 'toy money', this is what the new trader can play with, just to get a feel for the market and the trading platform, without the risk of losing any money
Online Registration



Not an important aspect in the search for a broker, but the registration form that needs to be filled in online will only take approximately ten minutes to fill in, and a few minutes after that, the trading can begin. You will need your bank and credit card or pay-pal details at hand.

Real Time Prices

This is very important, some obscure forex traders will buy or sell your currency, with an 'at best price' message after it, this is no good, the trader can lose money from it. A decent forex trader will have real time prices, which is the actual price on the markets, and the trader will be able to buy and sell at the price that is shown on the screen.

in my opinion this best and good broker exness, this broker is huge and largest broker and payment process is very easy and fast electron payment process and very important is spread is very very low al this broker i like this broker and all time trading this broker ..

 

[Tirus]

Not all forex brokers are good because there are some scammers out there. Its easier to get information on the different brokers if you are already involved in a number of forex communities because this is where there is usually discussions on brokers and members experiences with them. That would also help with the research.