The essential criteria for selecting a broker are few and straightforward.
Without a doubt, maintaining the protection of your funds should be your priority.
To begin, make certain that the broker you hire will not steal your money.
You can best protect yourself by only using a broker who is based in and regulated by a financial authority in a reputable financial center.
Second, you must ensure that you will be able to reclaim your deposit if the broker operates honestly but falls bankrupt for any reason.
One option is to only deposit with brokers whose regulators provide deposit protection to their clients (such as regulated brokers in the U.K. or Australia, for example).
This implies that if your broker goes bankrupt, the government will bail you out by returning your funds up to a specific amount, but this may take some time. Aside from that, look for a broker with a strong financial position and a good reputation.
After you've taken these steps, you may consider what your potential brokers have to offer in terms of asset range, spreads and commissions, overnight financing fees, and transaction execution speed and reliability, and make your decision accordingly.