How to choose a broker for you?
Pay attention to the following company parameters to choose the best broker for your needs:
1. The broker's footprint in the Forex market
The longer a brokerage company has been in the market, the more reviews there will be from its clients. Moreover, the older (i.e., more established) a company is the more it tends to value its reputation, which means it is more likely to fulfill its obligations.
2. Licenses
Only reliable brokers are licensed and they are strictly regulated by independent governmental monitors to protect traders and their investments. Maintaining a license is expensive, so not all companies can afford it. Analysts at World Top Brokers have prepared a list of the top regulated forex brokers in the world. Review it to choose a reliable broker.
3. Country of registration of the broker; representative offices and physical offices
Representative offices and broker offices are important components of selecting a reliable broker. A branching network of representative offices characterizes the company’s rate and commitment to the brokerage profession, although more and more brokers prefer online relationships with their clients.
4. Forex broker trading conditions
Each brokerage company offers its clients a variety of competitive conditions for trading, such as: minimum spreads, a large number of trading instruments, additional services, and bonuses. The combination of benefits offered is an important factor in the selection process.
5. Customer support and service quality
How quickly a broker’s customer support responds to a customer is important when assessing a broker's reliability. Top companies always respond quickly to every client's request and try to resolve the issue in the shortest possible time using the utmost courtesy.
6. Reviews of traders about the Forex broker
Clients who already work with one or more Forex brokers can reveal a lot about the broker’s reliability and professionalism. We study — and verify — the reviews of each company before posting our ratings.
7. The company’s position in the World Top Brokers Forex ratings.
This criterion is important when making your selection because the position of the broker in the World Top Brokers Forex broker rating reflects the final audit based on 100+ objective characteristics as compared to its competitors.