Choosing The Right Forex Broker

Sometimes it's hard to make a decision about which Forex brokers open our trading account, there are too many of them. Most of them have different features, capabilities, weaknesses and strengths, for this reason, I have created a checklist that can help you decide on a broker to use in your Forex adventure.

1. Is this regulated? 

The first question that you have to ask yourself is: Is the broker I want to use Regulated? There

there is definitely no doubt about this first point. All regulated brokers must submit financial reports to

the authorities, and when they fail to do so, the authorities have the right to fine them or

terminate their membership. This forces Forex brokers to store transparent financial reports.

Brokers must be regulated by their local regulatory authorities, for example, for brokers based in the US, they must be regulated by the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission), Swiss-based brokers must be regulated by FDF (Swiss Federal Department of Finance) and so on.

Also when Forex bro is regulated it allows investors to debate any resolution, improve investor protection.

2. Terms of Trade 

This point refers to the features of the trading platform and trading conditions with the selected broker. Among the most important factors are:

Spread - Obviously the smaller the spread on the currency pair the better the conditions for investors and traders.

Platform execution - Trading execution refers to how fast and consistent execution is

trading. Some brokers guarantee fast and transparent execution during normal markets

condition.

Fraction trading - Some brokers allow investors and traders to trade fractions,

instead of trading full lots of "100,000 units" or "300,000 units", they allow you to trade "163,345 units" or "325,911 units". This is very helpful for trades that risk a certain percentage of them

balance on each trade.

Security of funds - We need to ensure that our trading funds are kept in separate accounts or at least insured.

How to Choose a Forex Broker?

TopAsiaFx.com helps you compare and choose your preferred Forex Broker. We suggest keeping the following checklist in mind when making your decision:

• Is the Forex Broker regulated?
• Account Details: Ideally, your broker should offer either a selection of account types or some element of customizability. Competitive spreads and easy deposits/withdrawals are good indicators too.
• Number of Currency Pairs offered: The variety of currency pairs on offer, as well as the quantity, should be considered (the more of both, the better).
• Availability of Customer Service.
• Quality of the Trading Platform: look for a platform that is easy to use, straightforward and offers a collection of technical and analytical tools to enhance your trading experience.

Rank	Broker Name	Special Offer	Minimum Deposit	Spread	User Score	Maximum Leverage	Regulation	Start Trading
1	NordFX	55% Deposit Bonus	$10	0.0 Pips	96	1:1000	VFSC	Open Account
2	SGT Markets	Refer a friend $10	$500	0.0	95	1:400	IFSC	Open Account
3	OctaFX	50% Deposit Bonus	$100	0.4	94	1:500	IBC	Open Account
4	Exness	No	$1	0.1	93	1:2000	FCA,CySEC,IBC	Open Account
5	IC Markets	No	$200	0.0	92	1:500	ASIC	Open Account
6	Tickmill	$30 Welcome  Account	$100	0.0	91	1:500	FSA,FCA	Open Account
7	Axiory	$50 Deposit Bonus	$200	0.0	90	1:400	IFSC	Open Account
8	Justforex	100% Deposit Bonus	$1	0.0	89	1:3000	IFSC	Open Account
9	ThinkMarkets	No	$250	0.4	88	1:400	ASIC,FCA	Open Account
10	XM	$30 Welcome Account	$5	0.0	87	1:888	ASIC,FCA,IFSC	Open Account
11	FBS	$50 Welcome Account	$1	0.0	86	1:3000	IFSC	Open Account
12	HotForex	No	$5	0.0	85	1:1000	INC	Open Account