What You Must Check when Choosing a Broker?

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;

  1. The broker must be Regulated.
  2. Tight spreads and low slippage or low execution time
  3. High leverage according to your risk appetite. Normally we look for 1:500
  4. Low commissions and fee
  5. Low SWAP fee
  6. Swift money transfer to your account
  7. Low or no withdrawal fee
  8. Support for PayPal, bank account, Skrill
  9. Support for MT4 and MT5 platforms
  10. A broker that allow hedging
  11. Support for EAs
  12. Low latency, try to target anything below 3 ms.
  13. Choose a broker with No Inactivity fee.
  14. Minimum lot size.

I use Roboforex and IC Markets. You may have a look at 10 Main Reasons to Switch to Roboforex.

Please leave your comment below and feel free to add to this list.