Finding a Good Forex Broker - Part 1

If you are looking to make money by trading on the Forex market, you need to have a broker that you can trust.

Your broker’s reputation is one of the most important things to consider. You should be able to find out if your broker has a bad reputation, because people will comment more often on bad brokers than on really good brokers. So, if you do not find much, then your broker has been able to maintain a good reputation.

You should check background information on the brokerage that you are considering. You should check to see that your brokerage has been around for more than six months. What you really want in a brokerage is many years of experience with a happy client base. The broker should explain how they execute trades. The trades need to be done on time, otherwise you could lose money, since timing is everything in Forex trading.

You should also consider the customer service of the brokerage. The way the brokerage treats their customers is exactly how they will treat you because you will be a customer. You will need to get in touch with the brokerage and if they are not available throughout the day, this can be a major problem. They need to communicate with you when you need them and you need to be able to have them stay in control of your trades. The brokerage should be able to move a stop loss or any other move you need at any time.

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The brokerage will be handling your money, and they need to respect that they are handling your money. They will also be making money off of your trades, so they need to respect you as a customer and be sure to communicate with you.

It is also a good idea to see how the brokerage works with withdrawals and deposits. You should know how to send your money and get your money.

Read on next page for part 2