How to find the best Forex broker?

The Forex market is a huge resource for long shillings, but a middleman is just indispensible to find a free access to markets and become prosperous. A broker company may lighten the work much indeed. However, the question is how to find the best forex broker? How to determine his or her qualification and reliability? What are the characteristics? Let’s speak about it today.

Everybody knows that Forex is the most marketable in the financial field nowadays. Everyday trade volume is 4 billion dollars USA (BIS 2007-2010). There are so many opportunities to increase income via trading, for instance:

  • tremendous amount of participants
  • constant changes in currency
  • development of trading skills

Why is a broker needed?

Taking into consideration the technical development, not only a bank or insurance fund or stock company take part in trading but also a private individual.

People, who make bargains in the market and get the profit out of the margin, are called traders. Unlike professional market players, traders cannot participate in international currency commerce in Forex. There are 2 obvious reasons for that:

  • no direct access to international markets
  • limited finance

In this case a trader needs help of a middleman, a legal person who has the access and can provide other people with it.

What do a broker provide with?

First of all, the broker gives a registration form for trading account, which is easily found on the broker’s website. After registration you will be able to install the trading software.

Really good reliable brokers give also high gearing that increases the trading deposit largely. There are also additional stuff like economic calendar with important events (influencing quotations) and daily analytics (concerning basic currency pairs).

Everything seems to be quite easy. Nevertheless, there are so many different broker companies in the market and they all differ from each other to some extent. The success of productive trading depends even more on a broker’s reputation. So, that is the first and most important criteria that should be taken into consideration when you hire a broker.

How to define the reliability of a top Forex broker?

Top Forex brokers always work hard on their reputation and range of services. Such brokers provide with:

  • Profitable trading conditions (your success is his success)
  • Stable work of trading platforms (you are always online)
  • The professional skills of company experts (they always consult you answering your questions and foreseeing possible problems and perspective of trading development)
  • The legal address and constant telephone number (they are always available)

The broker should also support two kinds of orders:

  • market execution
  • install execution

Pay special attention to the speed of application processing. They should do it instantly and automatically, otherwise, how can they be the first and the best?

Another criterion is spreads. It is the main broker’s income that should be fixed and discussed beforehand. The top brokers always speak about spreads and never change them during the collaboration.

The legal status of the brokers’ company is vital for a trader. Be very attentive while reading about the legal address and registration data, because if a company is registered in offshore nobody guarantees the financial safety. So, such brokers are for sure not the best ones.

Binary options brokers: what’s the difference?

Binary options give much opportunities of a good income, because the price is fixed and the payout is known in advance.

Binary options brokers are able to auspicate favorably in the process of trading and in case of success the trader gets a profit. If the forecast is wrong, the trader loses just the cost of the option.

In conclusion, brokers exist to be helpful and guide in the world of Forex. The best binary options brokers are reliable and never hesitate to take responsibility in what they do for traders. That makes their reputation and brings them money.

Strategies and Trading Opportunities

A small investment is a broad concept, covering everything from putting money in a bank savings account to investing in a mutual fund that tracks...

How to choose the right currency pair?

Practice shows that most novice traders are limiting themselves to the pair EUR / USD. In fact, this financial instrument has a number of negative features...

Deposit Acceleration Techniques

Many novice traders mistakenly believe that by devoting several days to training and replenishing the trading account with 100 USD for several months...


How to start trading Forex?

Consider a national currency as a security, like stocks, commodities or precious metals. The recipe for success is to buy it at the cheapest price and then sell...

ABCs of leverage in the forex market

The usage of of such a specific tool related mostly to forex market as leverage is an opportunity to increase the trading volume at the...

10 Ways of Risk Management at Forex

The popularity of forex trading has always been high for a number of reasons. The main one is the outstanding profit potential, provided by a significant...


Forex leverage: a double-edged sword

Leverage is the ratio of your deposit to the lot you work with. In other words, those having a deposit of $ 100 can make a deal with a lot of 10,000...

Pros and cons of using standard MT4 indicators

MT4 is considered the most popular platform among forex traders. Its success can be explained by at least 2 reasons...

What are support and resistance levels?

Support and resistance levels create the basis for building effective trading strategies and combine the principles of technical analysis. They confirm...

Top 10 Forex Brokers 2019

200+ Forex Brokers
TOP 10 Best Forex Trading Platforms
Best Forex Platforms 2019

A variety of web terminals and specialized software makes a choice of a trading platform a difficult one for a novice trader. What should be this vital decision based on? To begin with, it is necessary to highlight the main criteria that high-quality software must meet for making money on financial markets...

Top 10 Forex Platforms 2019

All Forex Platforms