Choosing a Forex broker

How to choose a Forex broker?

Nowadays, anyone can trade on the Forex market – all it takes is your wish, start-up capital and Internet access.

Moreover, to close transactions on Forex, any beginning trader needs a special mediator called brokerage center. It’s important to keep in mind that your trading process security, profitability and comfort will largely depend on a broker you choose. Setting out the goal to find a reliable Forex broker, you should closely study the information about the following things: which authority carries out its regulation, how long ago it received its operating license and what the age of a company is.

Each trader should pay close attention to his broker’s age. There is no clear consensus stating that young brokers are not good enough, but in order to avoid dealing with unreliable companies and not to fall among thieves while choosing a broker, it’s better to pay attention to its age. The older it is, the better. Don’t trust everything you read on the brokers’ web-sites, but put your efforts and find real reviews and other evidence of fair work of the company you are interested in.

Tips for selecting a Forex broker

Tips for selecting a Forex broker

Another crucial aspect to pay special attention to while selecting a Forex broker is its reputation. Every company that has been working on the financial market for some time has its personal reputation among customers and traders. It’s not worth giving too much importance to positive or negative promo feedbacks, but it’s better to devote more time to reviews and traders’ comments – it will help you form your own objective opinion. You can find several independent ratings, surf some thematic forums or even read blogs of Forex-traders. All these steps will help you resolve the question of how to choose a Forex broker?

Customer support service is also extremely important for traders who are trying to find a reliable Forex broker. This includes profile functionality, trading terminal interface and 24/7 multilingual support team. Usually brokers offer newcomers to use different welcome-bonuses and various compaings, but you must remember that it’s important to study all the conditions before using them. Sometimes, beneficial bonus programs simply turn out to be baits to attract new users.


Which Forex broker to choose for trading?

Which Forex broker to choose for trading?

Of course, if you decided to find a reliable Forex broker, you shouldn’t lose sight of such factors as security, reliability and comfort of the money transfer. This is not just about depositing or withdrawing your money, but also about its storage. For this purpose brokers often create offshore accounts, which cannot be regarded as safe ones. It’s preferable to pay attention to the companies that use segregated accounts in the world-renowned banks for storage of their customers’ funds.

If the broker’s reputation, age and support team inspire your trust, try to examine its trading conditions: what its minimum deposit is, what its leverage is, what commission fees it takes for transaction made.


Commission is common on the Forex market and is charged regardless of whether transactions are successful or not. Therefore, the commission size should be as small as possible.

Which Forex broker to choose for trading?

One more important factor to consider when choosing a Forex broker is the availability of a demo-account using which you can test your trading skills without being afraid of losing your money. You should always use this option before starting to trade on a real-account. Beyond that, you should pay your attention to the Forex companies rating in order to cooperate only with reliable partners.

IAFT’s specialists prepared for their clients a couple of brokers’ lists, dividing them into several categories: for beginners, for professionals, for investors and for scalpers.


IAFT — is your reliable assistant that provides information about brokers and helps to solve issues concerning your trading on the Forex market.


Which Forex broker is better to choose?

FOR BEGINNERS

This category contains the list of the brokers that provide traders with a possibility to work on cent-accounts. That means that once you open your trading positions, USD 1 will be converted to 100 cents. To that end, IAFT selected those brokerage companies that make it possible to use no deposit bonuses for trading. This is the best trade solution for newcomers who are not planning to invest large amounts of money in the financial market.

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FOR PROFESSIONALS

This list includes brokers that require deposits from several dollars to several thousand dollars. These companies provide their clients with improved trading conditions, interbank trading and qualified customer support. All the financial operations of these brokers are under control of the financial supervision authorities from different countries. This trading type is ideal for those traders who already have significant and successful trading experience on the Forex market.

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FOR INVESTORS

These brokerage companies offer their trust management services on the Forex market. Here you can choose a professional trader and place your deposit under its management. In this case, minimum deposit will be equal to USD 10 000. You can also open a PAMM-account and, together with other investors, get interest from the amount you placed. In this case, minimum amount to be invested will be USD 1.

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FOR SCALPERS

These brokers are ideal for traders who prefer to use scalping strategies in their trading. These companies always encourage and support the activity of the traders who prefer to close transactions upon reaching a small profit of several pips.



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