Carefully study what possibilities the broker is ready to offer you and compare them with your own ideas about the Forex trading. You should understand that even a really reliable broker will not be able to provide you with a good result, if his trading strategy does not coincide with your expectations. Also remember that a good broker will always provide you with competent technical support. When choosing a broker, you should pay attention to the clarification of your operations, how quickly the broker is responsive to your requests for the solution of your problems.
What makes the best Forex brokers stand out?

It’s dangerous, or at least unwise, to trust the first encountered advertisement about brokerage services. This specialist should become a powerful support and a faithful assistant in trading, so it is worth to choose it critically. The fate of a multithousand-dollar financial operation often completely depends on the support which the broker provides to the client. So, what makes the best Forex brokers stand out? Profitable trading conditions”, you might say. This is correct but far from being the only criterion of choice. Below we will list the signs that can distinguish a real professional in this business.

How to choose the best Forex broker: 11 selection criteria

Let us outline the algorithm of how to choose the best Forex broker: 11 selection criteria will help us to do it. So, in front of you is a professional, if he:

  1. Successfully operates in the market for 5 years or more.
  2. Is subject to the regulators of currency trading of the country (Iran).
  3. Serves a large enough client base.
  4. Has a high rating.
  5. Has positive feedback from traders.
  6. Does not require high commissions for each open session.
  7. It offers fixed or floating spreads for your choice.
  8. Sets opposite swap values for different trades.
  9. Provides comprehensive support for its traders.
  10. Uses progressive software.
  11. Secures trader’s accounts from hacking.

How to choose a broker with good customer support?

Let us dwell on the criterion of “traders support”. It can be purely informational, like daily publication of world currency market news, or it can be technical, because you are a client of the system. But how do you choose a broker with good customer support? It’s easy: pretend you have trouble navigating and ask for support. If they are fast and knowledgeable, it is a sign that the system is reputable. Another good sign – if you are asked to send a scanned image of your passport. This shows that they take the security of your account seriously.
How to choose a broker with good trading conditions?

Terms and conditions are not the same as conditions. Everything depends on your trading style. For instance, if you’re an adherent of predictable, well-thought-out operations, you’d better have a fixed spread, not a “floating” one. But what about those who plan to trade for several days, rather than just days in the day? How to choose a broker with good trading conditions? The rule of thumb here is: give preference to a specialist who provides an opposite swap rate for different kinds of trades. An even more win-win option is to find a specialist who can offer a swap-free account.

Forex Broker Reviews

Where to find truthful reviews about forex brokers? Do not trust unofficial forums – a good professional may well be vilified by competitors. As a rule the reliable information is published in the editions, which publish the brokers’ ratings.

You should be alerted by such information from the traders:

  • the expert has closed or opened an order without informing the client.
  • the client has received an unmotivated refusal to withdraw funds.
  • inconvenient navigation and constant communication failure are typical for the system.
  • There are facts of non-fulfillment of broker’s obligations to the clients.

On the basis of this information you can form the most objective impression about the service provider.