When choosing a forex broker, you have to think a lot about regulation, bonuses, account feature,s and many more. Here are some key points which is really important to look before selecting a broker:

Regulatory Compliance

The first thing to check when selecting a forex broker is their reputation. In the United States, a reputable forex broker will be a member of the National Futures Association (NFA), a self-regulatory organization for the futures industry. It will also be registered with the Commodity Futures Trading Commission (CFTC), which regulates the commodity futures and options markets in the U.S.

Account Features

Each forex broker has different account offerings. Here are four areas to consider when comparing features among brokers: leverage and margin; commissions and spread; initial deposit requirements; and ease of deposits and withdrawals.

Currency Pairs Offered

While there are a great deal of currencies available for trading, only a few get the majority of the attention and, therefore, trade with the greatest liquidity. In addition to the aforementioned EUR/USD and GBP/USD pairs, the major pairs include USD/JPY and USD/CHF. A broker may offer a huge selection of forex pairs, but what is most important is that they offer the pairs which interest you as a trader.

Customer Service

Forex trading occurs 24 hours a day, so a broker's customer support should be available at any time. Also consider whether it's easy to get a live person on the phone. A quick call to a broker can give you an idea of the type of customer service they provide and average wait times.

Trading Platform

The trading platform is the investor's portal to the markets. As such, traders should make sure a broker's platform and software comes with the technical and fundamental analysis tools they need, and that trades can be entered and exited with ease.

This last point is especially important: a well-designed trading platform will have clear buy and sell buttons, and some even have a "panic" button that closes all open positions. A poorly designed interface, on the other hand, could lead to costly order entry mistakes.

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