When one is looking for a broker/agent…what should they look for…what
designates a person as someone that is trustworthy and the best one can choose to act for them …
How much do brokers usually receive for their services?
Brokers will get in return part of the “spread” when you place a trade. For example, if the EURUSD is 3 pips in the spread, 2 of those pips might go to your broker. So if you were trading a mini lot, the broker would make $2. This is just an example, different brokers will make different amounts of the spread.
The broker also has the option of sending your orders STP (straight through processing) which gets sent right to their liquidity provider, or they can hold the trade back and take the other side of the trade. Depending on the broker and how you trade, you could find yourself in the STP book or the B book (which is just the alternative book where the broker will hold the risk)
To best find out which brokerage is for you, there are many considerations. Where you live might limit you to which brokers you can use. You may also want to deposit money into the UK where there are laws protecting your assets that you deposit with brokers if they were to go belly up. Most new traders try and get the lowest spread but quite often isn’t always the best option. You kind of get what you pay for etc… and good customer service, easy account withdrawls, protection etc can all be reasons that can factor into one decision as I’m sure there are many others.