Broker Review – What to Look For?

ratingThere are a growing number of brokers available online and equally expanding amount of websites that offer forex broker reviews and rating. When choosing a broker, online reviews can be very helpful. Along with your own research, the rating can truly help you find the broker that suits your needs.

 

What are some of the features forex brokers are rated for? Let’s go over the most acceptable standards:

Registration Process

None of us enjoys filling complex online registration forms. While some brokers request documents upon registration, others allow you to sign up within minutes and start trading. Brokers that have hassle free registration process win a vote!

Demo Account

For a novice trader practice is crucial. Today all forex brokers offer demo accounts. The question you should be asking is for how long. There are brokers with unlimited time demo account. There are also brokers with 30-day demo account. An extra point goes to brokers with longer demo option.

Promotions

Most traders love bonuses and trading competitions. Whether it is a welcome bonus, or a winning prize in a challenge – it is nice to get a special treat.

Trading Platform

Platform offered by a broker is definitely one of the features that gets rated. Trading platforms differ and here are just a couple of things you need to check when it comes to choosing one:

Web-based or download

MetaTrader 4 in in-house interface

No dealing desk

Streaming quotes

Order types

Trading tools along with news, economic calendar, market analysis

Charting

One-click trading

Flexible customization

User-friendly interface

Accurate trading prices

Security

Minimum downtime

Automatic features

Currencies, commodities, indexes, stocks

Payment Methods

It’s nice to have options, especially when it comes to deposits and withdrawals. The more payment methods are available, the better. A great broker offers different kinds of payment methods, such as credit card, moneybookers, paypal, neteller, liberty reserve or wire transfer.

Customer Support

Professional, fast support is important when you are trading forex. Whether you have a technical issue with the trading platform, have a question about brokers terms and conditions or simply need a trading advice; the winning broker is the one that offers multilingual customer support both online, on the phone and via email.

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