Choosing a broker is a painful exercise, that’s true. You have to look for several points and tick their boxes before deciding to open an account with a broker. Let’s dive in;
- The broker must be Regulated.
- Tight spreads and low slippage or low execution time
- High leverage according to your risk appetite. Normally we look for 1:500
- Low commissions and fee
- Low SWAP fee
- Swift money transfer to your account
- Low or no withdrawal fee
- Support for PayPal, bank account, Skrill
- Support for MT4 and MT5 platforms
- A broker that allow hedging
- Support for EAs
- Low latency, try to target anything below 3 ms.
- Choose a broker with No Inactivity fee.
- Minimum lot size.
Please leave your comment below and feel free to add to this list.