Forex trading is arguably one of the easiest financial markets to begin trading in. To get started, you just need to open and fund an account with a regulated online broker. Choosing the best forex broker to trade forex does require some initial research to find the one most suitable for your trading needs and experience level.
Whether a brokerage is regulated will determine who you can turn to if you’re dissatisfied with the resolution of a trade dispute. Think of it as a form of insurance. Of course, you hope that you’ll never have to use the policy, but you’ll sure be happy when it’s made available on a rainy day.
Some of the most distressing calls I’ve received from FX traders are those coming about because an unregulated broker shut down overnight or refused to process withdrawals. The trader had nowhere else to turn when the unregulated broker refused to honor his side of the trade agreement.
here are some advice how you can find top forex brokers:
1. Demo Accounts
When you’ve found a broker you’re interested in working with, open a demo account to try him out.
2. Forex Broker Reviews.
Look around for Forex broker reviews. Be sure to read reviews from multiple sources.
3. Use Google
You can do Google searches to find Forex brokers, but this method might not tell you much about the brokers themselves. Make sure to read all the reviews and try demo accounts to make sure you’re comfortable with a broker before committing a large sum of money to an account.
4. Forex Forums
Visit some Forex forums to get input from people who are already trading. There’s a wealth of information hiding in Forex trading forums. It’s one place where you can research both bad and good experiences with different Forex brokers.
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