Are you planning to start trading Forex? Congratulations. With a lot of hard work and determination, you should get to grips with the Forex market and hopefully you will soon be enjoying a long, successful career as a trader.
As a novice, it can be quite daunting when you begin to try to get to grips with Forex. It is certainly worth signing up to a brokerage for help and assistance. Choosing a broker is another potentially difficult task. Here, we have put together a
Forex Broker Checklist of the key points to consider when choosing a broker.
Forex Broker Checklist 1: Ensure your broker is registered with the Financial Conduct Authority.
Forex Broker Checklist 2: Read testimonials from previous clients and contact them if possible.
Forex Broker Checklist 3: Find out about all the costs and fees up front, to ensure there are no nasty surprises later.
Forex Broker Checklist 4: Ask whether the broker has a demo platform you can use to practise trading on the Forex market, before you begin trading for real.
Forex Broker Checklist 5: Check the availability of the broker – are they available in the evenings or at weekends?
Forex Broker Checklist 6: Talk to the broker you will be working with and establish a good rapport.
Forex Broker Checklist 7: Lastly, find out about what kind of financial information is provided by the brokerage – will you, for example, have access to useful data and technical analysis?
Hopefully, this Forex Broker Checklist will help you to choose the best broker.