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How to Chose an Online Forex Broker
Is the firm regulated, with solid financials?
First step visit the NFA's website www.nfa.futures.org to confirm that the firm is a registered FCM. Avoid non-regulated firms, period.

Who runs the firm?
Management expertise is a key factor, as a trader's end-user experience is dictated from the top and will be reflected in the firm's dealing practices, execution quality, etc. Review staff bios to evaluate the level of management and trading experience at the firm.

How much leverage does the firm offer?
Too much of a good thing? In the case of leverage, yes. Firms offering excessively high leverage are not looking out for the best interest of their customers. A good rule of thumb is to not employ more than 100:1 leverage for Standard (100k) accounts and 200:1 for Mini (10k) accounts.

What resources are available?
Evaluate all of the free and paid decision support tools and resources offered by the firm including, charting, news, research, wireless trading, etc. Training & education are also valuable for investors new to the Forex market.

Is 24-hour customer support available?
Forex is a 24-hour market, so 24-hour support is a must. Can you contact the firm by phone, email, chat, etc. Are the reps knowledgeable? The quality of support can vary drastically from firm to firm, so be sure to experience it firsthand before opening an account.

How robust is the platform?
Open a demo account and test out the firm's trading platform. A sophisticated platform will be intuitive, with real-time P&L and position management. Advanced order capabilities are a must; not just stops and limit order but complex orders such as If/Then and trailing stops.

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Once you've completed your background check and are comfortable with the firm's trading platform and customer service, then you're ready to open an account.

Source: GAIN Capital Group
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    How to Chose a Forex Broker

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