You should carefully consider which broker to choose. There are many forex brokers or providers, and unlike other types of trading, there is no one centralized market. Instead, there are thousands of forex brokers, or market makers, who set their own currency prices and spreads. But, because the market is competitive, there’s usually not a large enough difference in prices and spreads between different brokers. Forex brokers will provide you with an online trading platform, either downloaded to your computer and requiring you to log in with them when you trade, or as a totally online interface. The best way to see if a platform is adequate is to run their demo account to see if you can do all of your trading tasks on their platform. Is there a best one? The answer is that there are now many good options.
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To trade on the forex market, the largest financial market on the planet, one must use a forex broker. Choosing a forex broker may depend on your needs. If you are new to the field, there are houses, or online forex brokers, who may cater to your needs.
FX BROKER GUIDE
1. Safety of Funds
- Is the broker regulated?
- Are client funds insured?
2.Spread
- How tight is the spread?
- Is it fixed or variable?
- Is it larger for mini accounts?
3. Slippage
- How much slippage can be expected in a normal and fast moving market?
4. Commissions
- Do they charge commissions? (Market makers' commissions are built into the spread)
5. Margin
- What is the margin requirement?
- Does it change for different currency pairs or days of the week?
- Is it the same for standard and mini accounts?
6. Trading Platform
- Is it reliable during fast moving markets and news announcements?
- How many different currency pairs can you trade?
7. Account Size
- What is the minimum trade size?
- What is the minimum account opening balance?
- Can you earn interest on the unused equity in your account?
8.Rollover Policy
- Is there a minimum margin requirement in order to earn interest on overnight positions?
- Are there any other requirements or conditions on earning rollover interest?
COMPARE 4X BROKERS
Broker
|
Location
|
Minimum Deposit
|
Min. Trade
Size
|
Pairs
|
Spread (Majors)
|
Commiss - ion
|
 |
Salt Lake City, USA
|
US$500
|
10000
|
19
|
2-4 Pips
|
$0
|
 |
Michigan, USA
|
US$250
|
10000
|
62
|
3-5 Pips
|
$0
|
 |
Gentofte, Denmark
|
$2000 Mini
$10000 Sta.
|
50000
|
100
|
2-4 Pips
|
$0
|
 |
Geneva, Switzerland.
|
US$5000
|
100000
|
27
|
2-3 Pips
|
$0
|
 |
New York City, USA
|
US$200
|
10000
|
10+
|
3-5 Pips
|
$0
|
 |
London, UK
|
US$500
|
10000
|
20
|
3-4 Pips
|
$0
|
 |
Plainview, NY
|
US$5000
|
100000
|
20
|
1-3 Pips
|
$10 per $100k
|
 |
Scottsdale, AZ
|
US$400
|
10000
|
22
|
0-3 Pips
|
$5 per $100k
|
 |
Saddle River, New Jersey
|
US$250
|
10000
|
20
|
3-4 Pips
|
$0
|
 |
New York City, USA
|
US$300
|
10000
|
22
|
3-5 Pips
|
$0
|
 |
New York City, USA
|
$0
|
$1
|
31
|
11/2-31/2
|
$0
|
 |
London, UK
|
US$500
|
10000
|
27
|
2-3 Pips
|
$0
|
 |
Chicago, IL
|
US$300
|
10000
|
22
|
3-5 Pips
|
$0
|
