in such a choice, the most important thing is not to fall into the hands of scammers, otherwise you can be left without money very quickly
Some factors that I think would help choose a broker include: Commission charges Customer support Spreads Leverage Trading platform offered
I won’t choose a broker with zero or low leverage but i don’t think high leverage is the most important criteria. If you are constantly worried about the safety of your funds, how are you going to focus on your trading? Sometimes scam brokers give you profit in the initial days and when you start trusting them they run out with your money. Will it be fine for a trader to see their time and rewards being wasted? Rather than following this trial and hit method it’s better to choose a reputed broker.
These are great tips and they will definetely provide the traders with some insights about choosing the right broker. I especially liked the tip about taking forum reviews into consideration. You are absolutely right by saying that the reviews can be fake and you should be extremely critical while reading these reviews as the forex brokers' market is extremely competitive and there is much of black PR out there. However, I still think that the traders should browse the feedbacks about the brokers because many traders tend to share their experience about working with the concrete brokers. I would also add the regulation parameter to understand whether the broker is trustworthy or not. More and more brokers are being regulated by some third-party organisations which adds up credibility of their decent work.
Research, Use and Commit. These are the three steps that I follow. When I chose my current broker, Turnkeyforex, I did a lot of research about their background, read about customer’s experiences and then I personally tested their demo account before committing to them. I must say that a bit of research goes a long way.
I focus mostly on execution speed and regulation. The first factor reflects efficiency of a brokers ECN network, i.e. how often it offers you best available price
the broker can affects the result of our trading with certainly , for that reason its very dedicated decision to choose a broker and we have to choose it with cool mind.
There are many different factors that you need to take into consideration when choosing a Forex broker: Customer Support Tech Support Spreads and Costs Leverage Account Types Markets Offered
sometimes choosing a broker is really difficult , because so many brokers in online and their review is not good at all.