Respect Your Money: Find the Best FOREX Brokers

If you are about to start trading FOREX, finding the best FOREX brokers should be at the top of your priority list. While you might not think that it matters, having one of the best FOREX brokers will make a big difference in your trading results. Trading FOREX is a fast-paced endeavor. Therefore, you need a good broker that can keep up with the market. Here are a few ways that you can help yourself locate a solid FOREX broker. 

Regulated


One big reason that it matters which broker that you choose is the safety of your money. You have worked hard for the money that you are about to deposit and you want to make sure that your money is safe. More importantly, if you win money in the market, you will want to be able to withdraw it without any problems.

With this in mind, you will want to make sure that you find a FOREX broker that is regulated. In the United States, the main governing body for FOREX brokers is the National Futures Association. To be in the NFA as a broker, you have to meet several key requirements. They have certain rules and regulations that make your money safe.

When looking for a broker, it may be to your best interest to consider brokers that are regulated by the NFA or another governing body if they are located offshore. You can easily pull up a list online of the brokers that meet NFA guidelines. This will help you find the brokers that you should be able to trust.

Online Reviews


One great way to learn about a broker is to hear from those that have actually used that broker. There are a number of places that you can go online and read broker reviews. Look for reviews that are actually written by legitimate customers without any ties to the company. There are many affiliates out there that will write reviews that are simply designed to get you to click on a link. They stand to profit from this, so you need to take anything that they say with a grain of salt.

Customer Service


Another factor that you should search for in a broker is a solid level of customer service. Without good customer service, you can find yourself in a lot of problems. Things can go wrong when you are trading the markets live. Therefore, you need to make sure that you have a broker that will make things right with you. If they do not stand up and help you when there is a problem, it can be very frustrating.

When you are shopping around for a solid broker, contact the brokers that you are considering and see how they respond to you. They should have a customer service phone number that you can call and talk to a live person. Most of them also have online chat functions now that make it very easy to contact them 24 hours per day. Try these out and make sure that they treat you like you would want to be treated by your broker. 

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