Some of these aspects are:


* minimum account size
* payment methods
* commissions
* slippage
* spread
* leverage (margin call)
* regulation
* rating
* customer support
* contact details
* platform


Minimum account size is a tricky one. You should choose an intermediate minimum account size. There are forex brokers which have a minimum account size of 5.000 usd [url=http://www.cheapdolphinsjerseys.com/ryan-tannehill-jersey/]Ryan Tannehill Jersey[/url] , and I know that’s not affordable for most of us, not to say that we might not want to deposit such a high amount. However, be careful when you read “start trading forex with as little as $1?, since this can be quite misleading (due to the leverage and margin call…the smaller your account size, the fastest you will reach the margin call in case you’re losing, and all your positions will be closed [url=http://www.cheapdolphinsjerseys.com/cameron-wake-jersey/]Cameron Wake Jersey[/url] , leaving you with losses, and not able to trade again due to margin level). Your account should be the bigger you can afford, for you to trade with some flexibility.


Payment methods should also be flexible, either to deposit and to withdraw funds. You should have several options, just in case one goes wrong (for example, some brokers let you use check [url=http://www.cheapdolphinsjerseys.com/reshad-jones-jersey/]Reshad Jones Jersey[/url] , wire, paypal, credit card, and even more!).


Commission are a bit difficult to talk about. Some brokers charge commissions and some don’t. At first it would seem better to choose a broker that doesn’t charge commissions; however, ECN brokers (recommended) usually charge commissions. Market makers tend not to charge fees, but these are tricky brokers.


You should choose a broker that does not have slippage. Generally [url=http://www.cheapdolphinsjerseys.com/minkah-fitzpatrick-jersey/]Minkah Fitzpatrick Jersey[/url] , all ECN (Electronic Communication Network) type brokers offer better prices. Their computer will fetch you the most favorable price right from the open market. Slippage is also known as re-quoting, and it happens when there’s a difference between the price at which you chose to buysell and the price at which the order is actually executed. Generally there’s a very little difference, but you should test platforms and make sure there’s no big difference. Some brokers let you know that the price at which you selected to execute an order is no longer available, and gives you the option to cancel.


The spread is also important. Be careful however with brokers that promise very low spreads, since there might be other conditions to look at. Generally spreads are much lower in more liquid pairs, like EURUSD. You should choose a broker that offers no more than 1-2 pips spread in the most traded pairs.


Leverage is also VERY tricky. Leverage can increase your winnings but also your losses. With leverage you can have control of a greater amount than the deposited. The right leverage depends on your account size. Usually you can choose between 50:1 [url=http://www.cheapdolphinsjerseys.com/kalen-ballage-jersey/]Kalen Ballage Jersey[/url] , 100:1 and 200:1 leverages.


Regulation is also very important. Forex is an unregulated market; however, you should check that your broker is regulated by a relevant institution in its country. You should also check that it has been approved by monetary authorities.


Rating is crucial. You should check online, in forums and sites, to find out how others rated a certain forex broker. Be careful with biased commentaries (affiliate links or representatives).


Customer support and contact details are essential. You should visit the broker’s site and check that you can contact them via phone, e-mail, fax [url=http://www.cheapdolphinsjerseys.com/durham-smythe-jersey/]Durham Smythe Jersey[/url] , courier, and even chat.Customer support should be accurate and fast. They should be able to answer to your queries in time, and correctly. Try to test that before you open a real account with them.Also, test the platform before you go to real trading, and make sure that you’ve become familiar with it. Lots of brokers use MetaTrader Platform today. Others, like Etoro [url=http://www.cheapdolphinsjerseys.com/jason-sanders-jersey/]Jason Sanders Jersey[/url] , use a platform of their own.


To find more about forex broker reviews and best forex brokers visit: forexpromos

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