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Which forex broker is the best.


      There are literally thousands of forex brokers out there. It can be difficult to pick out one that is the best for you. While price may matter, so does reliability and trust in the system. I will break down these qualities to find the best forex broker for you.
     Price: This is the primary characteristic you should consider when trying to determine which forex broker is the best for you. Price is what you will be paying each and every month, so you need to be very aware of what your minimum monthly fee will be and what the annual fees will be. Be sure you know what is in excess and what you can afford.
     Security: You want a broker that offers some form of security for your transactions. Look for brokers that offer some sort of guaranteed account. This is especially important if you intend on using multiple currencies. Having your trades secured is extremely important. While this feature varies from broker to broker, you should always inquire about it before agreeing to any brokerage.
     Ease Of Use: User friendliness is an important factor in forex. Try and find a forex broker that is simple to use. This means that it is user friendly and not too complicated. If you have some experience trading forex, you can probably figure out how to do things on the screen. If you do not, you should make sure that the broker has a website that is easy to navigate.
     Deposits: Before opening your account, be sure you understand the deposit requirements. A lot of brokers require a minimum deposit amount. Others do not. So be sure you are clear on these requirements before signing up.
     Trading Platforms: All great forex traders understand that they need a powerful trading platform. There are many different platforms on the market today. Choose one that works for you. It should also be easy to learn since you will need to do some trading training as you start out.
     Trading Tools: You should also look for forex brokers that offer tools for their clients to use. These tools can be useful when you decide what currency to trade in. You should not have to guess when making a trade. With a good broker, you can easily enter data into a software tool and make an informed decision.
     Fees: Finally, when choosing the best forex broker for you, fees should rank near the top of your list. You want to strike the perfect balance between a good price and quality service. Make sure that your broker offers low spreads and low fees. Otherwise you may end up losing money instead of saving it.
     Customer Service: Forex trading is complicated. You need to be kept up to date on news and in-depth analysis. This requires that you be able to contact your broker quickly at any time of day or night. Good forex brokers will always make themselves available for their customers. This is a big plus for those who have a hectic daily schedule.
     Access: You should be able to fully access your account with any forex broker. Being able to access your account remotely via phone, pager, or even computer is essential. Some brokers may also offer 24hr support in your location, so you never know when you need to talk to someone. You don't want to find yourself in the middle of a forex trading session and unable to place a trade because your broker went off line.
     Trading Tools: The tools available to a trader are as important as the knowledge they provide. A great tool to have is a comprehensive training package. There is a wealth of information on the Internet that can help a new trader to become a successful trader. A comprehensive package should include tutorials that teach you the most basic fundamental tools necessary for day to day trading. It should include a number of advanced tutorials as well. These should teach you how to use technical indicators and tools that are commonly used in the forex market to affect your trades.
     Fees: This is one area many new traders fail to consider before choosing a forex broker. Forex brokers typically offer a variety of different services. Some charge a low per transaction fee, but will also require a set amount up front. The best forex brokers will provide a free trial period, so you can try out their services without risking any money. After a few months of using their service you can then determine if this is the forex broker for you.

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