Hello Everyone. Only my Second post and very new to this so I apologise in advance.
How do I find a Broker? Can anyone give a step by step on how to achieve this? Is it Via a phone call, website what? NB I reside in Australia.
And what are ALL the things to take into account. I know Spread is one + trading platform they use. But what else?
Any help would be appreciated.
Thanks again:)
Hi!
I always suggest trying different brokers and different demo accounts. I mean demo accounts, because it’s always better to try with a demo than go real! During your “demo” period you may make analysis and work out your own strategy!
Definite demos help to grow yourself matured. The best investment is always the investment on your brain. Without a doubt, Forex trading needs much more than just a few guidelines or tips to be successful. Experience, knowledge, capital, fortitude, and even some help of luck are all crucial in one’s success in the FX market. if you lose in a trade, do not lose the experience in it. Learn from your mistakes and regain your position in the next trade 
Oh, yes, and here are some small tips:)
The specific parameters that one should look on before choosing a broker is:
A good forex broker should be always reliable and efficient.
And of course, first try on demo account. If it is a success, then you may try with the real money! 
Look for stability. Brokers that are one the market for 8-12 years are there for some reason. You would not survive as broker for so long if you had bad service.
Yes, you’re so right! Stability is of a great importance. And how many years for you is ok?
You can follow the clues that follows: SECURITY: the first thing a trader would look for in broker is that the broker must have a high level of security. 2. TRANSACTION COST: All traders will all always be subject to transaction cost. So you should always look for a broker with low spreads and commission. 3. DEPOSIT AND WITHDRAWAL: Look for a broker that would allow you to deposit and withdraw money without stress. EXECUTION.6. CUSTOMER SERVICE. This was exactly what i looked for before opening an account with Profiforex, and they have not disappointed so far.
I guess the unpopular brokers are always the ones to care about their traders and offer good trading conditions, because they don’t have too many traders to attend to. This was the first broker I looked into after registering here. According to the number of users registered to their forum, I guess they are among the leading offshore brokers.
Ask the people near you like your friends, relative, colleagues or neighbor whatever he is if he is doing the Forex Trading or doing any type of online trading ask him. If not result found then choose the broker who is certified and have the credibility in market for this you can him for the clients or customer which for he is working.
When I’ve started to FX business, I asked my friend, he is an IB and he recommended me some his brokers as Hotforex, Insta, Exness.
Then I visit their homepages, read reviews and feedback from some trusted FX reviews site as EarnForex, FPA or this forum. After collecting enough information about broker’s authority. I would pick one by opening a demo account.
Along with these tips, you have to first identify what conditions will help your trades. Are you looking for tight spreads, flexible spreads or fixed spreads? Do need a micro account or you want to go large? How much are you willing to pay for your trades? Are you concerned about requotes? You have to carefully read the trading conditions of any broker you come across. This is the best way to identify a good broker for yourself.
I clearly dispute this fact. Going back to when FXCM start their services, they were very good. Now if you visit FPA or earnforex for reviews, what you read is often discouraging. They are one of the oldest forex brokers around. They are still alive not because of quality services but because they have expert marketers and they are really good at advertising their services. There are many brokers that offers more favorable trading conditions than this broker. Am not saying that this broker is not good, rather, they have not really be consistent with their quality services.
I was thinking that this broker is not known, from what i have seen so far, i can be confident of them. They are really trying in the areas mentioned above, especially execution, deposit and withdrawals. But a feature i enjoyed at the start was their customer service. I would always advice people to do good research before choosing a broker.
It is kinda wrong to ask for recommendation from traders. I guess the first thing a new trader should do, is to look for the most important things needed from a broker, such as spreads, execution speed, charges and withdrawal speed.
Hi Shangai,
We take feedback from clients very seriously. That is why whenever a client expresses dissatisfaction on online communities such as you mentioned, I do my best to follow up and address their concerns. Often I find that the reason for a poor rating was due to some misunderstanding by someone who is new to our platform that can be easily addressed. Here is a recent example on this forum.
If there is ever an error on our part, FXCM will work on a solution for the client. Unfortunately, the nature of online ratings on the sites you mentioned is such that it’s sometimes hard to get in touch with people after they have posted. So the rating might not get updated, even after the client’s concerns have been addressed to their satisfaction by our 24-hour customer support.
I encourage traders to do their due diligence and research us along with other brokers. Since we are a publicly-traded company, there is more information available about us and our financials than the majority of forex brokers which are privately held. For anyone who has specific questions about FXCM, please feel free to ask me in the Broker Aid Station.
Jason
You have to find out if the broker complies with the Stop Loss and limits we place on our platforms. It is important because these are the income limits that we would.