How to Choose the Right Forex Broker

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Choosing the Right Forex Broker

As of today, there are hundreds of Forex brokers around the world claiming to be the best among the rest. But we all know that only a few of them are really good Forex brokers.

Some will even tell you how they helped their clients make millions of dollars within a week. Some online Forex brokers will even inform you that they are regulated by the EU and other spurious agencies that do not exist. 

The most annoying lie is that they do not charge commissions. If they don’t charge commission, then how do they make their money? Perhaps by lying to you about the real price of the currency, a practice that is immoral and evil.

To avoid such bogus Forex brokers, you really need to make sure due diligence is practiced. And we believe you are on the right track of choosing the right Forex broker with the following tips.

 Brokers Website
12Traderwww.12trader.com
24FXwww.24fx.com
24Optionwww.24option.com
3TG Brokerswww.3tgbrokers.com
AAAFxwww.aaafx.com
Abshire-Smithwww.abshire-smith.com
AC Marketswww.acmarket.net
AccentForexwww.accentforex.com
ACM Goldwww.acmgold.com
ActivTradeswww.activtrades.com
Admiral Marketswww.admiralmarkets.com
ADS Securitieswww.ads-securities.com
Advanced Marketswww.advancedmarketsfx.com
Advantage Futureswww.advantagefutures.com
AFX Capitalwww.afxgroup.com
AGEAwww.agea.com
AL Tradewww.alforex.com
AlfaTradewww.alfatrade.com
Alliance Investment Managementwww.allianceinvestment.com
Alpariwww.alpari.com
Alvexowww.alvexo.com
Amana Capitalwww.amanacapital.com
AMarketswww.amarkets.com
ArgusFXwww.argusfx.com
Arum Capitalwww.arumcapital.eu
Aswaqwww.aswaqms.net
ATC Brokerswww.atcbrokers.com
Atiorawww.atiora.com
Atom8www.atom8.com
AvaTradewww.avatrade.com
Axiorywww.axiory.com
AxiTraderwww.axitrader.com
Berkeleywww.berkeleytradingcorp.com
Bforexwww.in.bforex.com
Blackwell Globalwww.blackwellglobal.com
BNFXwww.bnfxtrading.com
BocaFXwww.bocafx.com
Brocowww.broco-rankin.com
Bulbrokerswww.bulbrokers.com
BullionVaultwww.bullionvault.com
Caesar Tradewww.caesartrade.com
Capital Indexwww.capitalindex.com
Capital One Forexwww.capitalone.com
Capital Spreadswww.lcg.com
CapTraderwww.captrader.com
CIM Bankwww.cimbanque.com
CIMB Securitieswww.cimbsecurities.com
CitiFX Prowww.citifx.com
City Credit Capitalwww.cccapital.co.uk
City Indexwww.cityindex.co.uk
City Point Tradingwww.citypointtrading.com
CM Tradingwww.cmtrading.com
CMC Marketswww.cmcmarkets.com
CMS Forexwww.cmsfx.com
CMSTraderwww.cmstrader.com
Cobra Tradingwww.cobratrading.com
Coinbasewww.coinbase.com
Colmex Prowww.colmexpro.com
CompassFXwww.compassfx.comcompass
Core Spreadswww.corespreads.com
Corsa Capitalwww.corsaforex.com
Credit Financier Investwww.cfifinancial.com
Credit Suissewww.credit-suisse.com
Crown FOREXwww.crownforex.in
Daniels Tradingwww.danielstrading.com
DBFXwww.dbfx.com
DeltaStockwww.deltastock.com
Destek Marketswww.destekmarkets.com
DF Marketswww.dfmarkets.co.uk
DIF Brokerwww.difbroker.com
Direct FXwww.directfx.com
DMM FXwww.fx.dmm.com
Dukascopywww.dukascopy.com
DupontFXwww.dupontfx.com
E Globalwww.eglobalcentral.eu
easyMarketswww.easymarkets.comeu
ECMarketswww.ecmarket.com
EFG Hermeswww.efghermes.com
eForexwww.eforexindia.com
Eightcapwww.eightcap.com
eTorowww.etoro.comcheck mark 1 - How to Choose the Right Forex Broker
ETX Capitalwww.etxcapital.com
Euro Pacificwww.europac.com
EVERFXwww.everfx.com
Exnesswww.exness.com
Exto Capitalwww.extopartners.com
EZinvestwww.ezinvest.com
Falcofxwww.falcofx.com
Falcon Brokerswww.new.falconbrokers.com
FBSwww.fbs.comcheck mark 1 - How to Choose the Right Forex Broker
FCMarketwww.fcmarket.com
FIBO Groupwww.fibogroup.eu
Fideliswww.fideliscare.org
Financikawww.financikatrade.comindex
Finexwww.finexforex.co.in
Finexowww.finexo.com
FinFxwww.finfxpro.com
FinMarketwww.finmarket.com
Finotecwww.finotec.com
FinPro Tradingwww.finprotrading.com
Forex Broker Incwww.forexbrokerinc.com
Forex Clubwww.fxclub.com
Forex Metalwww.forexmetal.co.in
Forex MMCISwww.forex-mmcis.ru
Forex Signswww.fsifx.com
Forex Ukrainewww.forexua.com
Forex Worldwidewww.forexworldwide.com
FOREX.comwww.forex.comcheck mark 1 - How to Choose the Right Forex Broker
Forex_chwww.forex.ch
Forex4Youwww.forex4you.com
ForexCyclewww.forexcycle.com
Forexitewww.forexite.com
ForexMartwww.forexmart.com
Forex-Metalwww.forexmetal.co.in
ForexWebTraderwww.mt4.xm.com
ForexYardwww.forexyard.com
Formaxwww.formax.com
Fort Financial Serviceswww.fortfs.com
FreshForexwww.freshforex.com
Fullerton Marketswww.fullertonmarkets.com
FX Clearingwww.fxclearing.com
FX Clubwww.fxclub.com
FX Giantswww.fxgiants.co.uk
FX Renewwww.fxrenew.com
FX Universalwww.fxuniversal.com
FXA Securitieswww.fxasec.comehtml
FXallwww.fxall.com
FXcastwww.fxcast.com
FXCCwww.fxcc.com
FXCHwww.forex-swiss.com
FXCLwww.fxclearing.com
FXCMwww.fxcm.com
FxCompanywww.fxcompany.net
FXDDwww.fxdd.com
FXFairwww.fxfair.com
FXFlatwww.fxflat.com
FXGiantswww.fxgiants.co.uk
FXGLORYwww.fxglory.com
FXGMwww.fxgm.com
FxGrowwww.fxgrow.com
FxNetwww.fxnet.com
FXOpenwww.fxopen.com
FXPIGwww.fxpig.com
FXPRIMUSwww.fxprimus.com
FxProwww.fxpro.co.uk
FXTMwww.forextime.com
FXTSPwww.fxtsp.com
FXTSwisswww.fxtswiss.com
Gain Capitalwww.gaincapital.com
Gain Scopewww.gainscopefx.comforex
GCI Financialwww.gcitrading.com
GCI Tradingwww.gcitrading.com
GDMFXwww.gdmfx.com
GFCMarketswww.goforex.com
GKFXwww.gkfx.com
Global Brokerage Incwww.ir.globalbrokerage.info
Global Futureswww.gffbrokers.com
Go Marketswww.gomarkets.com.au
Grand Capitalwww.grandcapital.net
GTMFXwww.gtmfx.com
GulliverFXwww.gulliverfx.co.uk
Halifax Onlinewww.halifax-online.co.uk
Hantec Marketswww.hantecfx.com
HereForexwww.hereforex.com
HiWayFXwww.hiwayfx.com
HMS Marketswww.hms.lu
HotForexwww.hotforex.com
Hotspot FXwww.fx.cboe.com
HY Marketswww.hymarkets.com
HYCMwww.hycm.com
IBFXwww.ibfx.com
IC Marketswww.icmarkets.comcheck mark 1 - How to Choose the Right Forex Broker
IFC Marketswww.ifcmarkets.co.in
iFOREXwww.iforex.in
IG Indexwww.ig.com
IG Marketswww.ig.com
Ikon Groupwww.ikonpr.com
Ikon-Royalwww.ikongm.com
Infin Marketswww.infinmarkets.com
INGOTwww.ingotbrokers.com.au
InstaForexwww.instaforex.com
Interactive Brokerswww.interactivebrokers.co.in
InterbankFxwww.ibfx.com
InterTraderwww.intertrader.com
IronFXwww.ironfx.com
ITRADERwww.itrader.com
IWBankwww.itrader.com
Juno Marketswww.junomarkets.com
JustForexwww.justforex.com
Kawasewww.kawase.com
KerfordFXwww.kerfordinvestments.com
KeyStockwww.keystock.co.in
Keytradewww.keytradebank.be
KGI Futures Singaporewww.kgieworld.sg
KLMFXwww.klmfx.com
Larson And Holzwww.lh-broker.com
Larson&Holz IT Ltdwww.lh-broker.com
LCGwww.lcg.com
Legacy FXwww.legacyefx.com
LeverageFXwww.leveragefx.com
Lightspeed Tradingwww.lightspeed.com
LiteForexwww.liteforex.com
Lloyds TSBwww.lloydsbank.com
LMFXwww.lmfx.com
LQDFXwww.lqdfx.com
MahiFXwww.mahifx.com
Marketivawww.forex.marketiva.cn
MarkeTradewww.marketrade.com.au
Maxi Forexwww.maxi-forex.com
MB Tradingwww.mbtrading.com
Mega Trader FXwww.megatraderforex.com
Money Gramwww.secure.moneygram.com
MTradingwww.mtrading.comin
MultiBank Exchange Groupwww.mexgroup.com
Nano Forexwww.nanoforexcorp.com
Nas brokerwww.nas-broker.com
NBPFXwww.npbfx.com
NetoTradewww.netotrade.com
NewForexwww.newforex.com
NoaFXwww.noafx.com
Noble Tradingwww.thisisnoble.com
Noor CMwww.noorcm.com
NordFXwww.nordfx.com
NordMarketswww.nordfx.com
Northern Trustwww.northerntrust.com
NorthFinancewww.northfinance.com
Norvik Bankawww.norvik.eu
NPBFXwww.npbfx.com
NSFXwww.nsfx.com
Oandawww.oanda.comcheck mark 1 - How to Choose the Right Forex Broker
OctaFXwww.octafx.com
One Financialwww.onefinancialmarkets.com
Orbexwww.orbex.com
OTMFXwww.otmfx.com
PaxForexwww.paxforex.com
Pepperstonewww.pepperstone.comcheck mark 1 - How to Choose the Right Forex Broker
PFD NZwww.pfd-nz.com
Phillip Futureswww.phillipfutures.com.sg
Plus500www.plus500.com
PrivateFXwww.privatefx.com
Q8Tradewww.q8trade.com
Questradewww.questrade.comcheck mark 1 - How to Choose the Right Forex Broker
RBC Capital Marketswww.rbccm.com
RCGwww.rcg.com
Real Forexwww.real-forex.com
Realtime Forexwww.realtimeforex.com
RoboForexwww.roboforex.com
Rosenthal Collins Groupwww.rcgdirect.com
Saxo Bankwww.home.saxo
SFX Marketswww.sfx-markets.com
Speed Traderwww.speedtrader.com
Spot Traderwww.spottraderfx.com
Spread Cowww.spreadco.com
Squared Financialwww.squaredfinancial.com
StartForexwww.startfx.com
STIFXwww.stifxonline.com
STOCK.comwww.stock.com
Strategem FXwww.stratagemfx.com
Sucden Financialwww.sucdenfinancial.com
Sun Hung Kai Financialwww.shkf.com
SwissDirektwww.swissdirekt.com
Swissquotewww.https:
Tallinexwww.tallinex.com
TeleTradewww.teletrade.eu
TFI Marketswww.tfimarkets.com
TFIFxwww.tfimarkets.com
ThinkMarketswww.thinkmarkets.comcheck mark 1 - How to Choose the Right Forex Broker
thinkorswimwww.thinkorswim.com
Tickmillwww.tickmill.comcheck mark 1 - How to Choose the Right Forex Broker
TMS Brokerswww.tmseurope.com
Trade Pro Futureswww.tradeprofutures.com
Trade.comwww.trade.com
Trade12www.trade12.com
Trade24www.trade-24.com
Trade360www.trade360.com-gb
Tradenetwww.tradenet.com
Tradeowww.tradeo.com
TraderNovowww.tradernovo.com
Traders Waywww.tradersway.com
TradeStation Securitieswww.tradestation.com
Tradeview Forexwww.tradeviewforex.com
TradexFxwww.tradexfx.com
Trading 212www.trading212.com
Trading Internationalwww.tradersinternational.com
Trading Pointwww.trading-point.com
TransMarket Groupwww.transmarketgroup.com
Transworld Futureswww.transworldfutures.com
TrioMarketswww.triomarkets.com
TryMarketswww.trymarkets.com
TusarFXwww.tusarfx.com
UFXwww.ufx.com
UFXBankwww.ufx.com
UFXMarketswww.ufx.com
Umarketswww.umarkets.com
UWCFXwww.uwcfx.com
Vantage FXwww.vantagefx.com
Varengoldwww.varengoldbankfx.com
Vinson Financials Ltdwww.vinsonfinancials.com
WhoTradeswww.whotrades.com
Windsor Brokerswww.en.windsorbrokers.com
WorldWide Marketswww.worldwidemarkets.com
xCFDwww.xcfd.hk
XForexwww.xforex.com
XMwww.xm.comcheck mark 1 - How to Choose the Right Forex Broker
XTB Forexwww.xtb.com
Xtrade Europe LTDwww.xtrade.com
YoutradeFXwww.youtradefx.com
Z.com Tradewww.trade.z.com
Zeccowww.Zecco.com
Zurich Primewww.zurichprime.com

Forex Broker Reputation

How many years of experience do they have? 

Are they registered by FCA, NFA, CFTC, CySec, ASIC or any reputable regulatory body? 

Do they have good or bad reviews? CYSEC 300x115 - How to Choose the Right Forex Brokerfca 300x146 - How to Choose the Right Forex Broker

These are some of the questions you need to ask yourself before choosing any Forex broker. 

Of course, some of them asic 300x174 - How to Choose the Right Forex Brokerwill prevaricate about their reputation. 

But you can confirm their claims by doing your research on the Internet or by contacting their previous or existing clients. 

You would also be better off if you use our platform to check their reputation. At Forex Rank, we help you to find the most reputable forex brokers that can meet your needs. 

We also show you the rankings of each Forex broker so that you can make the right decision. All listed forex brokers on forex ranks website have been “reputation verified”. We have researched every broker to make sure they meet our standards and feel confident providing this to you, the trader.  

Broker Deposits and Withdrawals

After you’ve confirmed the reputation of your potential Forex broker, the next thing you should consider is whether you have the leverage to terminate your Forex account and withdraw your funds anytime you are not pleased with the services offered. 

This right should not be negotiable. You should also confirm that you can deposit money with your Forex broker with ease. In sum, make sure that all these criteria are clearly specified in the terms and conditions of working with your potential Forex broker. 

Spreads

In simple terms, the spread is a difference between the price of buying a currency (ask price) and the price of selling a currency (bid price)

It is the gain which youForex broker helps you to make by selling a particular currency. In return, your Forex broker charges you for maximizing your spread, which is not fixed most times due to market changes. 

So, make sure you compare the commission of each Forex broker before you make your final decision. We have seen situations where Forex brokers would lie about the spread in order to maximize their own profit. 

Thus, you need to be very vigilant about pricing. Another option you have is to use Forex Rank to select the best Forex broker who will not try to manipulate the spread. 

Margin

A margin is a short-term loan you borrow money from your Forex broker at a fixed interest rate so that you can increase your investment return. 

Before setting up a margin account with your potential Forex broker, ask him or her about the margin percentage, which is usually 1% or 2%. The lower the margin percentage, the lower the amount you will deposit with your Forex broker. 

For instance, if you want to trade $1,000,000, a 1% margin percentage means that you will deposit $10, 000 and a 2% means you will deposit $20,000. So, the more funds you deposit into your margin account, the more the risk you are taking. For instance, a 2% margin requirement represents a leverage of 50:1 while 0.50% represents a leverage of 200:1.

Trading Platform

A trading platform is the software application where all trades are performed. Some Forex brokers have devised disingenuous ways of manipulating their trading platform to their advantage. 

Hence, your priority should be finding an online forex trading platform that is reliable and has the greatest automation. One of the best and most popular platforms is metatrader 4. 

It features many built in trading and charting tools and also have a well made mobile app to trade on the go on your mobile device. Eg) Iphone Samsung’s, tablets etc. 

Currencies and Other Markets Offered

There are more than 100 currencies in the world, but only a few of them are relevant in the Forex market. 

This includes the U.S dollar/Swiss franc (USD/CHF), the Euro/U.S. dollar (EUR/USD), U.S. dollar/Japanese (USD/JPY), and the British pound/U.S. dollar (GPD/USD) “the majors”. Regardless, you should confirm whether your Forex broker offers the selected Forex pairs you prefer before investing your funds. 

All of our brokers listed have a wide range of markets to trade including currencies (Forex), cryptocurrencies(Bitcoin etc), futures,cfd’s, precious metals and stock indices. Take a look at our forex broker review page for more info Here. 

Customer Service

This should be your most important criteria for choosing the right Forex broker. 

You don’t want a situation where you want to buy or sell a particular currency and you can’t reach your Forex broker on time or need some important account changes handled. 

A good Forex broker should be able to provide you 24/5 customer support as well as respond to your complaints and educate you about how you can minimize losses. 

Offering a live chat to chat to clients is always a bonus. Forex rank has tested all brokers for customer service satisfaction. 

Bottom Line

There is nothing more fulfilling than choosing the right Forex broker. You will have peace of mind and have more time to do other important things (like trading!). 

At Forex Rank, we take pride in helping you find the best Forex brokers from around the world. Just give us a try and you will be glad you did! You can check our Forex Broker Reviews so that you can feel confident  that your money is in safe hands.crap boker 266x300 - How to Choose the Right Forex Broker