The Best Forex Broker is a complete UNBIASED Guide to choosing the right broker according to your needs. I started trading forex 12 years ago, I made 100% everyday for 3 successive days, until I hit margin call in the fifth day. It was a great shock for me.

Margin Call: Occurs when the available balance in your Forex Trading account is not enough to open a new trade. This fully depends on your leverage and lot sizes opened.

I recognized that Forex is not an easy thing. Its not just a quick gamble. Its not Vegas The first thing I decided to do, was replacing my broker, as I was sure its not The Best Forex Broker. It provided almost zero support and spreads were very high. I don’t want you to repeat my mistakes! I will not write here about a certain broker and get your mind biased towards it. I will write about the most important criteria you must keep in mind while making your choice.

The Best Forex Broker MUST :

• Include all the currency pairs that you are willing to trade. Selected Forex Brokers provide up to 45 Forex Pairs to trade. Commodities are also available (Restrictions apply for some)
• Phone Support : My first Forex Broker didn’t provide any. They just had great sales representatives to drive me into loading more cash into my account
• Email Response : Some provide Turn-around times of less than 2 hours. If problem not solved, they just phone you instantly.

• Trading Spread : Compare the actual spreads of your frequently traded pairs. Don’t start with a broker until you are sure their spreads DO NOT rise to un-acceptable levels. For Example, the EUR/USD is typically around 2.6-3.0 pips.
• Trading Platform : During your demo period, test the platform a 100%, and see if its good for you or not? Is it easy to use? What about the Graphical User Interface? Does it have built in charts? And most importantly, did you witness bugs in use? You might end up losing lots of cash if it just halts when you’re placing a trade, or closing one!
• Account Opening Requirements : Check for brokers that dont give much restrictions. Some brokers now offer opening accounts with as little as $25. Others even allow for additional bonus with your initial deposit. I’ve personally seen 20% with some Forex Brokers (Etoro in some cases)
• What are the options available for cash withdrawal from your account? Credit Cards, Bank Transfers and Checks. Check if your selected broker has your one of choice.

• Leverage : Some Brokers don’t offer more than 1:25, as per the US Law. If you live outside the US, you could benefit from leverage levels up to 1:400. Personally, I don’t recommend such high leverage, as it could wipe off your account easily within a few trades.
• Forex Training : Make sure this Broker offers free training, especially if you’re new to Forex. Don’t trade until you’re sure a 100% you’ve grasped what you learnt from these Forex Education sessions.

We don’t provide named recommendations for one of them as the Best Forex Broker, however, I could safely say that Etoro has all what’s mentioned above and more. It’s definitely one of the best brokers around.

If you have any questions, please contact us