Searching for a Broker

During the search for a broker you can sometimes feel overwhelmed by the number of intermediaries that offer you their online services. Deciding will require some of your time, but the time spent will certainly allow you to know better the available services and the fees charged by the various brokers.

After finding a reliable broker, the first thing to do is to check that the broker is in order with law to avoid unpleasant news in the future.

Here is a good piece of advice: choose your broker and get in touch with him through the Support service. You can experience how quickly they answer your questions and can be a key metod in evaluating the way he answers to your needs.
If you do not receive any answer or if the answer is not satisfying, it is certainly better not to place faith in that broker.

Online trading platform

Most, or maybe all Forex brokers will allow you a rather easy investment. The core of any trading platform is the ordering system, so it is always recommended to try an online demo ( the best brokers always offer one ) to check the available options. The page of the broker should include these points:

• The possibility to visualize in rea-time the exchange rate of the currencies,

• a summary of your current account with profits and loss, available margins and any blocked margins.

The most part of trading platforms can either be “web based” ( in Java ) or based on a software ( software that can be installed on you PC ). You can choose your version depending on your personal interest:

• Web based software: hosted on your broker’s website. It will not be necessary to install any software on your PC and you will be able to access to your account from any PC able to access the Internet.

• Software based client that you can download and install and allows you to operate with your account directly and only from your personal computer ( unless you do not install the same software on another PC that is able to access the Internet ).

Usually, it is preferable to download and install the software as it works faster but most programs are specific for one operating system. For example, most brokers offer platforms that are compatible only for Windows. If you are a Mac or Linux user you will not be able to install the software and will have to use the web based program of your broker.

Platforms based on Java are used by most brokers,  for they are the most secure and reliable of the moment and are less vulnerable from virus and hackers.

In any case it is always better to open a demo account and test the broker’s platform before opening a real account by that broker.

What to search among the characteristics of the broker

1. Low spread. In the Forex market th “spread” is the difference between the purchase and sale of a specified pair of currency.
2. Minimum investment to open an account.
   For those who are new in the Forex market being able to open a small account with a small investment can lead to a great benefit.
3. Automatic execution of your orders.
   This is very important for the choice of  a broker.