Genuine Forex
Forex Trading Systems

Quantum Globe Inc. System

Simple Forex

Bird Watching In Lion Country

Forex Basics

Forex Brokers

Get a Forex Mentor

How To Analyze Forex Data

Basic Forex Terminology

Finding A Good Forex Broker

What Is Forex?

Forex Charts

Good Forex Courses

Forex Currency Trading

Forex For Beginners

Forex Forums

Trading Forex From Home

Risks Associated With Forex

Finding Forex Sites

Forex Software

Forex Trading Features

Forex Trading Tips

Free Forex Courses

Information On Forex

Learn To Trade Forex

The Forex Markets

Trading Forex

Additional Resources

Avoiding Forex Failure

Calculating Profit and Loss

Choosing a Forex Broker

Fibonacci Numbers

Traits of Successful Forex Traders

Download The Complete Guide To FOREX for FREE!
First Name
Email Address

We Recommend Bird Watching In Lion Country >>

Choosing a Forex Broker

In order to trade in the Forex market you will need to
find yourself a broker. A broker is someone who executes
trades according to your wishes and earns a commission
on each trade.

But there are so many brokers out there competing for
your business it can be hard to figure out which one is
best. This article will give you as idea of what to look

Transaction Costs. In the forex market, brokers are paid
via the bid/ask spread. There should be no hidden fees or
charges to trade. However, there may be additional charges
to access certain reports and optional services.

Obviously the smaller the spread the better. Pip spreads vary
by broker (and also by currency pairs), so shop around for
competitive rates.

Currency Pairs Available. All brokers should at least have the
big seven currencies ((AUD, CAD, CHF, EUR, GBP, JPY, and USD).
But if you plan on trading New Zealand dollars or Danish
krones, you should be sure that the broker is able to do so.

Immediate Execution of Orders. Currency prices are constantly
moving up and down and any delay in the execution of your
order can cut into your profits or add to your losses. Of
course its possible a delay will help you, but it never seems
to work out that way does it? Look for a broker that can
consistently execute your trade at the price you see on your
screen. An occasional delay is understandable, but if it
happens frequently find yourself a new broker.

Free Tools. In order to analyze currency prices, spot trends,
and plan entry and exit points you need access to charting
and technical analysis tools. Most brokers offer basic services
free of charge with an expanded array of tools for an added

Minimum Account Balance. As a small investor you will need a
broker that does not require a large balance to open an account.
Many brokers today will let you open a mini-account with as
little as $300.

Margin Requirement. The lower the margin requirement, the more
leverage you have. If a broker allows you to use 100:1 leverage,
that means you can trade $100,000 in currency for only $1,000.
You can use margin to rack up huge profits. But don’t margin
yourself too much or you will find yourself wiped out fast.

Superior Customer Service. This is something traders often
overlook when choosing a broker and later regret it when they
need assistance. A quality broker should respond quickly to any
question you have. They should have knowledgeable reps available
24 hours a day by phone and email.

A User-friendly Trading Platform. Some brokers require you to
download a trading program to your PC in order to make trades.
Others let you make trades directly over the web. Pick a few
brokers out and sign up for a free demo account. You can trade
with play money while you test out their software and see which
one works best for you.

Recent Forex News