Whether you are an experienced trader or just starting out in the world of Forex, you will no doubt be aware that there are an enormous number of brokers to choose from. Whilst there are certain criteria that you can examine to establish whether they are likely to offer a good service, in reality only the client can say whether the broker is any good or not.

It is a good idea to establish what your buying and selling style is – or what it is likely to be, then you can look for a broker that suits your needs. Ensure that their software is easy to use by trying out the demo version and that there is adequate customer support available. A good broker does not discriminate on account or trade size, or the type of customer that you are. Establish what the spread policy is, ensuring that all restrictions and trading conditions are made very clear to you.

Check to make sure that the broker is registered with the appropriate regulating authorities such as the NFA or CFTC in the USA or the FSA in the UK. If they aren’t registered with one of these bodies then you should proceed with caution as they will not be bound my stringent rules and regulations that are a condition of registration and are designed to protect the client. If your broker is based in another country then you should find out the name of the regulatory body for that country and ensure that the broker you are considering is registered with them.

Before delving into the list of the Best Forex Brokers we need to answer certain questions about Forex trading and the facilities these brokers offer. Before opening an account with a broker we need to know certain facts about Forex trading.

Forex Brokers are generally of 3 types:

Crucial points to identify a suitable Forex Broker:

1. Easy accessibility.
2. Minimum trade size.
3. Customized service regarding margin, spread, minimum margin, trade size.
4. On your feet – Market Maker/NDD/API.
5. Governance of Regulatory Authorities.
6. Spread – easy or tight, varies for larger and standard accounts.
7. Slippage.
8. Platform to trade in number of currencies.
9. Rollover Policy.
10. Broker/Commission.

Below You can find my list of the Best Forex Brokers:

The bottom line is that a good Forex broker – and the best broker for you, is one who wants to help you make money. This means that you should feel comfortable with them, if you have questions they should be able to answer them for you and they should make you feel that they really care about whether you are making money from your trades.