How to Pick a Forex Broker ? (with top brokers list attached)

6 crucial things to consider when choosing a forex broker:

1. Security

Before putting your money in a broker, make sure that the broker is a member of regulatory bodies.

Blow is a list of global regulatory agencies.

United States: National Futures Association (NFA); Commodity Futures Trading Commission (CFTC)

United Kingdom: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)

Australia: Australian Securities and Investment Commission (ASIC)

Switzerland: Swiss Federal Banking Commission (SFBC)

Germany: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN)

France: Autorité des Marchés Financiers (AMF)

Canada: Investment Information Regulatory Organization of Canada (IIROC)

2. Transaction Costs

Every single time you enter a trade, you will have to pay for either the spread or a commission so you may need to sacrifice low transactions for a more reliable broker.

Make sure you know if you need tight spreads for your type of trading, and then review your available options. Its all about finding the correct balance between security and low transaction costs.

3. Deposit and Withdrawal

Good forex brokers will allow you to deposit funds and withdraw your earnings hassle-free.Brokers have no reason to make it hard for you to withdraw your profits because the only reason they hold your funds is to facilitate trading.

4. Trading Platform

When looking for a broker, always check what its trading platform has to offer.Does it offer free news feed？ How about easy-to-use technical and charting tools？ Does it present you with all the information you will need to trade properly？

5. Execution

It is mandatory that your broker fills you at the best possible price for your orders. Normally there is no reason for your broker to not fill you at, or very close to, the market price you see when you click the“buy”or“sell” button. A few pips difference in price can make that much harder on you to win that trade.

6. Customer Service

Brokers‘customer service aren’t perfect, so you must pick a broker that you could easily contact when problems arise. The competence of brokers when dealing with account or technical support issues is just as important as their performance on executing trades.

Below is Top 8 Forex Brokers List for your reference. These brokers are recommended by most forex brokers.