Since there are hundreds of Forex brokers out there, one should be aware and vigilant in choosing one. However, there are certain criteria’s one should consider before one should choose a Forex broker. One vital thing is the spread, one should choose a broker that has a tight spreads; another is liquidity, since a broker who less liquidity will struggle in filling your orders thus, re-quotes will arise that will have a negative impact on your trading; another is filling of orders, this a very important criteria in a broker since most successful traders used pending orders and rarely fills an order at market prices, thus your broker should answer whether your pending orders filled at the price you entered? If not, then you’re in dire straits. In addition, other key component that are vital in a broker should be address, like segregated accounts, you should ask your broker what bank they use and try to verify if their accounts are truly segregated or not. Furthermore, one should ask if they have a tradable asset, since a broker that has more assets to trade the wider the choices they have in order to diversify more currency pairs. And lastly, withdrawals, how fast are their withdrawal system.
