What are the best criteria to use when choosing a forex broker?

[Zoltan_]

Prior to selecting the best forex broker, you must determine your trading style and the direction you prefer to take your trades. There are many brokers available, so selecting the best broker is a difficult task. However, there are some things you can take into account when making your decision. Several of them would be the following:
- Proper regulation
- Instant Execution Speed
- Lower Commission
- Tight Spreads
- High Leverage
- Quicker Withdrawals
- Responsive Customer Support

With that set, you will be able to choose the best broker for you while taking into account all other factors.
Here are some that I have vetted and are good to try:
- AAAFx
- Pepperstone
- XM
- Fxview
- Exness
- HotForex Markets

 

[Pentapolis]

Thanks for the list, this might be useful in future in case I want to try out other brokers. But from the list i’m using fxview and xm, it’s been a good experience with them so far.

 

[zoe]

One very important feature I will isolate from the ones you listed is "quick withdrawals". Payment system is very important and not to be overlooked, if you have issues here all your efforts will amount to nothing. Though I have had it easy with forexchief on this aspect, with different convenient methods through electronic payment systems such as Cryptocurrencies, WebMoney, Perfect Money, NETELLER, Skrill, Advanced Cash, FasaPay, etc.

Forexchief is what using indeed, a broker I would recommend to anyone, especially the fact that they let you work with a minimum transaction of 0.01 standard lots, including cent accounts is quite impressive.

 

[Ebba]

@Jerome If my broker can let me receive my fund quicker or on time, then that would be a good thing because I want to make sure everything is in place. Having a quicker withdrawal is better than waiting for a long time.

 

[Nayek Pichai]

Day trading i is a popular type of trading especially for those who fear to trade at night due to news movements. For your day trading, Eurotrader can be an ideal broker as it allows traders with a bunch of trading facilities. It is an ideal broker for scalpers and day traders.

 

[Madison Lopez]

I have to say that trading with tight spreads help to reduce the overall cost of trading. This is something a trader should always keep in mind apart from regulations and leverage.

 

[Prelect]

I’ve gone ahead with AAAFx. Trading conditions have so far been good. I got my payouts on time as well.

 

[abrahampadilla]

One of the main criteria has to be regulations. If a broker is not regulated, then there will always be a question on the trading conditions and safety of funds. So, make sure to choose a regulated broker. https://digitalcashpalace.com/forum/threads/cysec-regulated-forex-brokers.68832/ - I found this thread very useful in providing details on cysec regulated brokers, which also have good trading conditions. You can have a look at them too.

 

[LeaseBear]

I’ve gone ahead with AAAFx. Trading conditions have so far been good. I got my payouts on time as well.

Been hearing good stuff about them, how long does it take to withdraw?

 

[Prelect]

Been hearing good stuff about them, how long does it take to withdraw?

I usually go for cryptos withdrawals which are quicker than I expected. Skrill also went quick as well.

 

[Hobbledehoy]

I personally look for broker with tight spreads and low commissions. As being a scalper wide spreads or high commissions can increase the total overall trading costs.

 

[Hoosegow]

One of the main criteria I consider is their regulations. I prefer opting for regulated brokers as they can be trusted and are reputable.

 

[Holism]

Obviously, spreads, commission and timely withdrawals would be the criteria not just for me but for many traders. I am using turnkey forex which fit with my criteria, as of today, trading has been quite pleasant with them. Does someone have any other criteria for choosing a broker, would love to know!

 

[Symphilism]

One of the main criteria I consider is their regulations. I prefer opting for regulated brokers as they can be trusted and are reputable.

Absolutely, regulation is definitely an important condition, but alongside that, trading conditions also matter. Was lucky enough to find fxview that offered both. Been trading with them for a while now and am happy with the conditions and withdrawal speed.

 

[Trang01]

From the list, I'd say proper regulation, lower commission, tight spreads, and quick withdrawal are some important considerations when selecting a broker. It is better not to follow someone else's advice; rather, after taking suggestions, determine whether the broker is right for you.

 

[zoe]

From the list, I'd say proper regulation, lower commission, tight spreads, and quick withdrawal are some important considerations when selecting a broker. It is better not to follow someone else's advice; rather, after taking suggestions, determine whether the broker is right for you.

Yeah, especially payment system, that's very crucial to consider. having issues with withdrawal and deposit is the worse thing that can happen to trader, fortunately that's not something I have had to deal with since I have been with forexchief. It's been really smooth!

 

[Loyiso]

There are numerous factors to consider, and the decision will most likely be based on individual priorities. However, regardless of which broker you choose in the end, you should conduct thorough research and comparison.

 

[zoe]

There are numerous factors to consider, and the decision will most likely be based on individual priorities. However, regardless of which broker you choose in the end, you should conduct thorough research and comparison.

And forexchief having visible offices across the globe was a huge push for me to choose them. This is something we all should work on.

 

[LeaseBear]

So I have been looking for a good broker to trade with, and I'm not sure which one to choose. What if this broker is well-regulated and have low commission, but the spreads are not low?

 

[zoe]

So I have been looking for a good broker to trade with, and I'm not sure which one to choose. What if this broker is well-regulated and have low commission, but the spreads are not low?

The factors you have mentioned mentioned are important but you have to pay attention to spreads, it's very important to trade with a broker that offer low spreads. You can find a broker that offers all to a good degree, look for that one. For instance my broker forexchief has very low spreads and good trading conditions, which is something I have appreciated.