webjeff,
That is a very broad question.........
Identify your specific requirements and that will norrow the field down somewhat. Often the choice of broker is a compromise between several factors.
You should be considering the following :-
Spreads....are you looking for fixed spreads or variable spreads. You need to understand the pros and cons of each.
Are you willing to pay commission?
What leverage do you desire?
What is your funding ability ie what size account do you wish to set up?
Do you need to trade microlots(ie 0.01 of standard)?
Often the better brokers require a minimum of $2000 because they only offer minilots(ie 0.1) with a leverage of 1:100. You cannot trade a $500 account this way, so you compromise.....
Finally you can do the regulation thing, but I feel this is way over-rated. I am convinced that the NFA is trying to kill off retail trading altogether.
Once you know what your requirements are you can go looking. There are plenty review sites out there. Take it all with a pinch of salt but glean what info you can. Ignore ratings with less the 15 user reviews.
My top picks at the moment are forex.com for variable spread non-commision microlots and PFGbest if you want to notch it up a level. Others to keep an eye on are Fxcbs and Gomarkets in Australia.
I was with Alpari but their spreads have become uncompetitive, and they don't offer some of the currency pairs that I wish to trade. Also, I don't fall for the fixed spread scam anymore.........
