Choosing a Broker - Your Tips!

[Lonny]

Please posts your tips and ideas of things to consider when you're choosing a Forex broker.

[ziggy]

regulation and reputation- don't get burned!

[Lisa]

It's also important to choose a broker who offers demo accounts. Even if you have traded before you want a chance to test out the software before you start trading in real money.

[davidfx]

And make sure the demo account is in real time otherwise you will not get a real feel whether you will win or lose.

You should also choose a broker which offers analysis, forecasts and guidance so you will not be all on your own.

[millionarepopcorn]

Beware of brokers who offer too much leverage. If the leverage is too high the broker is making money off first-time traders who are seduced into investing more than they can afford to lose.

[nadine]

Of course be very VERY wary of Forex brokers who promise to make you rich quickly. They just want your money!

[JohnsonG]

1. A broker with a good reputation, you can find out the truth on forums by reading real traders comments about different brokers.

2. Brokers with good demo accounts

3. Brokers with high rated customer satisfaction.



good luck,
regards

[fpfx]

regulation and reputation- don't get burned!

This is the most important i think.

Mine - Make sure the spreads are acceptable (not too big) especially for major pairs.

[Somya Gabriel]

Points that should be considered while choosing a forex broker as follow:-

Make sure the Forex broker is registered with some of regulating agencies. Like in US a broker should be registered with Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and should be an NFA member.

Customer Support Facility: Being forex 24 hr market make sure that the broker is providing you 24 hrs Customer Support Service.

Check for the different policies that different traders have.

These are few points that came straight into my mind, will add few more points later.

[Xyra]

Choose a broker with a good reputation. There will always be problems no matter what/who the broker is..so just pick the one with the least problem.. Also, beware of fake brokers.I\'ve read a lot from the net about them