Gaining direct access to the Foreign Exchange market..
A Forex broker is a financial company that provides access to the Foreign Exchange market through a trading platform. By openning a simple trading account retail traders can buy and sell Forex currencies
How to Choose Forex Brokers
The most important issue when opening a Forex trading account is to make sure that your funds are protected.
FUNDS SAFETY
Reliable brokers maintain headquarters in a safe country (not offshore) and operate for more than 2 years in the market
Regulation by a trustable authority such as FCA UK enhances funds' safety
The segergation of the client's funds is 100% required
The client's compensation scheme in case of insolvency is a very important issue
TRADING FEES
Trading spreads on EURUSD should be less than 1.2 pip without trading commissions
The overnight rates should be very competitive, especially as concerns position traders
There are brokers charging withdrawal fees and some others may charge maintenance (inactive) fees
TRADING OPTIONS
Demo accounts and micro-lot accounts are very useful to Forex beginners
The more funding methods available the better (credit cards, internet wallets, crypto, etc.)
The available platforms should at least include the industry's standard MT4 trading platform
A wide Forex asset index also adds value to a trading account