There is an ever increasing choice of forex
brokers in the market, but what makes a good one?
The forex market has dramatically increased in size in recent
years so has the number of forex brokers. This has presented retail
traders with a plethora of choice and opportunities and has reduced
the cost of trading to levels that were previously only available
to the institutional market. The retail market is growing in size
and importance and forex brokers are advertising heavily in an
attempt to attract your custom.
As previously mentioned the cost of dealing for the retail
investor is now as low as it's ever been and the majority of forex
brokers are advertising narrow spreads or 1 pip prices. With costs
so low it is therefore important to focus on other areas that are
vital to successful forex trading. The forex broker offering the
lowest dealing costs won't necessarily offer you the market access
and tools required to be a successful trader!
Our forex broker comparison will of course look at the cost to
trade but will also focus on other important factors that should be
considered before opening an account. Finding a broker offering low
dealing costs but without a mobile dealing service is not going to
be the right solution for those traders that find themselves away
from their PC for long periods of time.
Tip: Use our comparison tables to find the
broker that offers the all-round service you are looking for.
Below is a table of Forex brokers with a few key account-opening
criteria that we believe should be considered when you are deciding
which broker to open an account with. It's not always about price;
finding a broker that suits your style of trading and your
technical requirements is as, if not more, important than shaving a
few pence off of your dealing costs.