To place a trade you will need a broker. We work with the best forex, stocks, indices, cfd and commodities brokers in the business.
What to look for in a broker?
- A larger broker with higher capitalization has the ability to offer you better spreads and execution because they have better liquidity.
- Always choose a broker that is regulated to offer forex trading in your country.
- Choose a broker with a good customer service, a broker who is available when you need them, available during the market open section, who is there to communicate via means of a phone, chat and email service.
- The initial deposit requirement.
- The reputation and size of the broker.
- Regulated by a reputable Financial Services Board.
- The Platform(s) supported, e.g. Metatrader 4, Metatrader 5, Web-Trader etc
- Spreads should be competitive and consistent, regardless of speed of the market or when you execute your trades.
- The level of leverage offered by a broker and the related margin requirements also need to be considered while choosing a broker. General leverage enough for forex trading is 50:1 or 100:1. And it goes as far as 500:1 and some more
- The number of currency pairs available to trade.
- The size of their margins required when placing pending orders, stop losses, profit targets, etc.
- The minimum amount of Equity required to open an account
- Always avoid brokers who offer or guarantee extremely high returns.
- Prefer brokers who have educational content regarding their platform in case you have technical questions on how to use it.
- Deposit and Withdrawal process. This should be relatively easy.