How to Choose Forex Broker

Nowadays, hundreds of Online Forex Broker exist. But, Do they good enough ? Do they safe enough to hold your money? Do they suit enough for Small Equity Trader ? Okay, We try to resume what kind of aspect you should examine before choosing a broker.

1. Check to see if your broker of choice is registered with the National Futures Association (NFA) or Commodity Futures Trading Commission (CFTC) if they're based in the US. If the broker is based in the United Kingdom, check with the Financial Service Authority (FSA). If the broker isn't registered with any of these or any other recognized regulating firm, then its okay if you only trade few bucks, but if wanna trade huge money, think twice!

2. Is the Broker whether Dealing Desk or Non-Dealing Desk broker? Order execution will be different, if you choose Dealing Desk, your oder need to be approved first by the Broker, but if you choose Non-Dealing Desk, your order will be executed instantly.

3. Does the broker offer fixed or non-fixed spreads? How wide are the spreads? Its better for you choose fixed spread broker, non-fixed spreads will cause inconvenient spreads during fundamental news. Choose the smallest & fixed spread Broker.

4. How's the leverage of the Broker? Smaller leverage will be more safe for traders.

5. Does the broker deducted Swap or Overnight interest? Some brokers either do both. This is important for Long Term Trader (hold a position morethan a day)

6.How's the Deposit & Withdrawal Methods? The more alternative they offered, traders will be more comfortable. Paypal, Wired, Checks and also E-Currency is the most commonly used.

7. How's the Customer Service / Support Perform ? This is really important, to get you out from a problem.

8. Try out the Demo first, if you feel comfortable enough with the server, execution, and the broker system then you may choose them.

Visit our forum if you still confused to choose your Forex Broker. We'll try to help you.