1. Check whether the Forex broker have Proper License or Not. If you want to check the broker license, you can ask to the broker directly through live chat or email (or) you can search on the broker’s website and verify it through that country’s government site.
2. Check whether the brokerage company is registered under which country financial department and Regulations.
3. Don’t try to trade with very low spread broker. Most of them are B-book.
4. A Good Broker should have ECN(Electronic Communication Network) (or) STP(Straight Through Processing) account types.
5. Check the Broker’s Spread and Commission details in Live Account, before Investing your real money.
6. Check the Payment methods Which is suitable for your Transaction. (Credit Card/Debit Card, Bank Wire, Paypal, Neteller, Skrill, Webmoney, Perfect Money, UPay, CashU and other Ecurrency methods)
7. Check the Withdrawal processing time from Forex Broker to your payment method. According to our experience, Withdrawals through Ecurrencies are processed within Maximum 72 hours and Bank Wire are Processed from 2 to 10 Business working days.
How to choose the best forex broker? check now.