If you’d like to begin trading the forex, futures, or options market a good forex broker is necessary.

What fx currency pairs does the broker have available? Make sure that they’ve got the forex pair that you like to trade.

Some only have a couple of currency pairs, other forex brokers have a huge range of choices. Should you only want to trade the major currency pairs, this should not be a problem for you. Should you want trading pairs which have good volume look at fx brokers with broader offers. Some brokers even offer non-forex products, stocks, futures, options on the same trading platform. Be sure to check their commission schedule for them.

Can you use a downloaded forex trading platform, or do you need a web-based trading platform? Should you trade the markets from home or some other location, then you can install a trading platform like MetaTrader or Sierra charts. If you fail to install a software in which you will be trading from, then look for a broker with a web-based fx trading platform.

If it’s a market maker, how do their spreads match up against other brokerage, remember spreads can alter during news time. Do you need a managed forex account? They offer a decent opportunity for those who don’t have the time to learn how to trade forex or plenty of time to actually trade his or her forex account. A managed fx account can also open up investors to the threat of scam, incompetence, and bad brokers.

You’ll still want to see the brokers performance over a long period, and to discuss risk management and their commission charges first. Some traders are capable of amazing returns 80% of the time. Can your fx broker compare to that

Does the broker offer a demo version for testing, or have a live demo running where anyone can see the trades or statement. Check up on their margin requirements if you fall below a specific amount in your account .Check to see if they’re regulated both government and private.

Do they offer free deposits and withdrawals most offer free deposits but some charge for withdrawals.

If you’ve got enough money, try to open a small live account with several brokers. Then test them against each other.Watch the spreads during news times drawdown or slippage. Some brokers are better for some day trading styles. Other brokers are better for some other longer term trading styles.

Check their about pages and see just how long they’ve been in running a business, there are many that are not reputable and can take you money.

To learn more about the twist and turns in forex and for a successful trading read more here.