True Forex Trader

Well, I’ve closed my bad trades and now can breathe freely.
I’m starting my new trading career with new strict rules and discipline.

In the mean time while I’m waiting for an entry signal, I’d like to speak about choosing a Forex broker.

Everyone is trying to write about Forex brokers and what characteristics they should have to be chosen. I would like to point your attention to what’s needed from you (not from a broker) to find the best Forex broker that will suit your needs:

 This is how my check list looked like:

- currency pairs I need?
- spreads for those pairs?
- leverage I need?
- first minimum deposit?
- fees for funding, transferring, withdrawing?
- available transfer and receiving funds options?
- available hedging?
- unrestricted scalping?
- indicators I need on my charts?

Answer to those questions then go out fishing for a broker that suits Your trading needs. You will see that making decisions this way is much easier than asking subjective opinions of Forex traders on forums or trying to read everything you can find on the Internet; in fact, you would need to do a final check up by looking what others have to say, but that’s only after you pick a broker or two that meet your trading requirements.

The only thing you need to look for is a most comprehensive list of Forex brokers to start your research with. Once you have it, visit brokers websites one by one; after all you need to know the company that you are going to trust your money to. Take your time and read their trading rules and conditions, ask absolutely everything you may need to know either via live chats or by sending an email. Request a call back if you need to – all in all do everything you need to choose your best Forex broker.

Filed under: First steps in Forex