3 Tips to Finding a FOREX Broker

When you are looking for a Forex broker, there are a number of things that you will want to keep in mind. Here are some tips for finding a good Forex broker.

1. Regulation

Whenever you are looking at a Forex broker, you will want to see whether they are regulated or not. Most Forex brokers in the United States are members of the National Futures Association or NFA. In order to become a member of this, they have to meet certain criteria. As an investor, you want to make sure that you are dealing with a broker that is regulated so that your money is a little safer.

2. Spreads

You will also want to pay attention to the spreads that are offered by the broker. The broker is compensated with the bid/ask spread on each trade and this is going to come out of your profits. Therefore, you want to find one with low spreads whenever possible.

3. Deposits

You should also look at how your broker handles deposits and withdrawals. Many brokers will allow you to conveniently deposit through Paypal or some other method. Other brokers have more confusing methods of deposit and withdrawal that take longer to process.