How to Choose a Reliable, Dependable Forex Broker?

Just what is a Forex broker? Your Forex broker is a Forex provider and an investment partner that you open an account with in order to trade the Forex market.

There's a multitude of Forex brokers to choose from, and it isn't always easy to decide which one is best for you. It's integral to your investments that you choose an honest currency trading broker that won't apply charges for any unneeded services. "Who is the best Forex Trading broker?", you ask? Following is short bulletpoint list of the important details you should check before you open an account:

Registration! Your Forex broker should be registered with a regulation authority. In the United States, these authorities are known as either the National Futures Association (NFA) or Commodity Futures Trading Commission (CFTC), while the Financial Service Authority regulates brokers in the United Kingdom. (FSA).
Spread! The spread amounts to the number of pips between the bidding price and the asking price, and it's what forex brokers use to make money on every trade placed through their network. It's an obvious advantage to sign your account with a broker who offers tight spreads.

Leverage! Leverage simply indicates a percentage of funds that you are allowed to borrow from the broker when you open an account. If 99% of the total value required to open a trade would be covered by your typical broker, for example, then that would leave you personally responsible for only the remaining 1%. A $100 trade would require $1 to be opened.

Minimum! There's usually a minimum amount of capital required to start an account. This initial investment can vary anywhere from $1 to a few thousands dollars.

Interest! Is there a daily credit or debit rollover of interest? For traders who hold their positions for few days, weeks or longer, this can be an imperative feature.

Before you settle on a final choice, drawing discerning comparisons between several Forex brokers via contacting them individually with questions, questions and more questions is paramount before you invest your money.

Related articles:

Forex Brokers and Commissions (2010-05-27) NFA Forex Broker (2010-05-27) FSA Forex Broker (2010-05-27) Lists of FOREX Broker (2010-05-27) The Main Types of Forex Brokers (2010-05-27)

International Association of Forex Traders

Company: International Association of Forex Traders
Number of participants: 30,000
Amount of payouts: 1,500,000$
Number of partner-brokers: 62
Number of payment systems: 8

Markets

Markets Broker Review
Notes:Brand New Broker Platform
Min Account: 50$
Bonus: $2000

eToro Forex Broker

eToro Broker Reviews
Notes: Weekly Championship
Min Account: 50$
Spread: 2 Pips

ACM

ACM Review >>
Notes: Worldwide Broker
Pips: 1.8
Max Leverage: 1:100
Rating: 10

Plus500 Forex Broker

Notes: No commissions! - fixed spreads
Min Account: 100$
Trade Stocks, Forex, CFDs, Indices, Oil and more

AVA Fx Forex Broker

AVAFX Broker Reviews
Notes: Easy Platform
Min Account: 100$
Max Leverage: 1:200

FXCM

AskoBid

askoBid Broker Review
Notes: Simple and new broker
Bonus: 30% reward on first deposit