How To Chose A Right Forex Broker

Forex Trader Guideline

Before to open real Forex trading account you must be aware of trading risk and also keep in mind some forex trading basic term of forex market.

Ok you already know. well so look to other factors before choose a right one broker.

Here i will discuss the most important factor that will help you to take correct decision. So lets start

• Spread Should Be Low:

In forex market every time you place an order, your open position goes slightly negative.It shows in loss. This all happen due to spread.

you know spread is difference between buy and sell price of a particular currency.

High spreads mean you are buying a currency in high price but at the same time its selling price is low.

So  look the broker who provide low spread or  fixed size low spread.

• Leverage Should Be Customizable:  

For as a new trader low leverage is best for you. But it should be customizable so you can change your leverage step by step once you become familiar with trading.

High leverage misuse may kill your account.

So, Choose that broker who provide with customizability.  

• Deposit And Withdrawal:

It gives pain if you can not withdraw your earning with ease. In forex market only broker can handle your funds.

And makes any unreasonable delays or excuse when you make the request to withdraw your funds.

But it doesn't mean that forex market is crowed of fraud brokers. Because every coin has two sides so you should aware of it.

And ensure yourself with the help of deep review of forex broker.

One more thing, Method of payment. Before choose right one btoker, Check the payment method is fit for you.

• Trading Platform:

Most of the brokers provide very advance platform. These platform are very complex and difficult to understand for a new trader.

Trading platform should be simple with charting tools and technical indicators.

• Account Type:

Once you ensure that the broker you have choosed fullfill all the above necessities then your last step would be choose a account type that allow your pocket to invest.

In past money investment was a big deal in forex market. The minimum deposit requirement was very high (Minimum $1000).

But Today all rules has been changed for investors. Now broker also provide small accounts for small traders/investors. Forex trading account mainly of three types.

Big, Small and managed account.Big account refers to Standard account.

Its minimum requirement is $1000 and mostly broker provide 1:100 leverage in standard accounts.

On the other hand small account for small investors. these account further divided in terms of deposit. And leverge may be 1:400 or high.

Cent Account - $1 Minimum Deposit 

Micro Account - $10 to $25

Mini Account - $50 to $250

Note: Minimum deposit varry from              broker to broker.

And the 3rd account type is Managed Account. In these account some professional manage the trader's fund and trading for them for a specific goal. 

Here, I'll not discusess it in detail.
Now you can choose forex broker easily. I hope you got all points and understand the risk factors which affect your investment.

In the last, I personally recomend you, before invest in forex market, you should trade on demo account. If you want to open a real forex trading account, there is no worry. Because it's free and look also most popular forex brokers.

It will give you the detail idea of forex trading and also boost your trading skill.

Wish you all the best.