How to choose a good forex broker

At first, one of the first questions that arise is how do you choose a good Forex broker? It is one of the most important decisions we will take the time to begin the path of investing in forex. In recent years we have experienced a great expansion in the number of companies that provide financial intermediation services.

To investigate and compare the offers of different companies that offer services broker, it may seem that they are very similar or almost all offer the same services at a very similar price, but that feeling is completely wrong. When choosing broker there are certain things to keep in mind that, although a priori seems they are not very important, we must give them our full attention.

Some of the details we have to take into account when choosing our forex broker are:

Regulation of broker

We think that in addition to the risk we face when it comes to investing, there is an added risk, we are allowing agency brokerage manage our assets (our most precious treasure). To be sure that the broker you chose will give us the guarantees we need to consult the log data brokers CNMV (Comisión Nacional del Mercado de Valores).

The CNMV is the regulator of financial markets in Spain and one of its objectives is to ensure the legality and fair commercial behavior of these businesses with their clientes.En if we choose to operate with a broker that is not regulated in Spain, we must look if I estábajo monitoring some other regulatory agency of prestige.

Specialist or generalist forex broker

Because of the diversity of financial assets that are on the market we can distinguish two types of broker: those specializing in a particular asset and covering almost all investment opportunities. Our criteria for choosing should not be greater or less supply, but if it suits our investment profile or not. That is, before choosing what we think will be to our operational stocks, CFDs, futures, currencies, ... etc.

Suited commissions for sale

Offers commissions for the purchase or sale of financial assets are usually one of the spearheads of intermediary agencies when trying to get customers. These fees are having more or less significant dent in our funds, according to the investor profile we have.

For investors who make long-term operations should not be a decisive variable, although it should always be taken into account for day traders who perform intra-day operations, such commissions become essential and it is a variable with enough weight to tip the balance by a broker or another.

Other important commissions

In addition to commissions for buying and selling there are other fees that have to be considered and not underestimate its impact on our operations. Some of these committees are: to put stops, account maintenance, to see the real-time quotes, etc ...

integrated platforms

On the market a variety of platforms and software to operate in intraday are essential. Some brokers made trade agreements to integrate these platforms in its web offering added value to its customers. It is something we should consider before we make our decision because as has been said before these tools are necessary to operate successfully.

Customer Support
Many brokers have chosen to offer phone service through a client 902, and therefore we must take into account if we believe that we will have to get in touch with them on a regular basis because we have to account these costs added to our balance of profit and loss.

Reputation

Through forums and review sites financial theme, today we can learn from the experiences of other customers and can even interact with them to resolve our doubts. We must use this great tool before making a decision.

Consulting and training

The training section on the websites of brokerage firms is already widespread and it never hurts to see us to spend a seminar to see how professionals operate, because at some point we need your help.

Fees for withdrawing funds

Although such commissions are almost extinct we should not have to stop paying attention and we must take them into account, although giving a reduced our decision when choosing weight. After analyzing the variables that have been pointed out before, we must choose the broker that best suits our needs and our way of investing.