forex mini accounts

Forex Brokers - How To Find The Best Broker For You
By LeverageFX
With so many different Forex Brokers out there, how do you choose?


The good news is, it really doesn't make THAT much difference!

A Pro Forex Trader will make money at ANY BROKER!

Small losses/BIG wins is the key to profitably trading the Forex market and every broker will let you do that.

Of course finding the broker with small spreads in the pairs you hope to trade will make a difference but keep in mind its not the ONLY thing you should look at.

Small losses is key so you need to use small and tight stop losses and the spread can play a role here.

For example, say you're trading the GBP/JPY. With most fixed or variable brokers the spread is usually 4-8 pips. This means you are paying $4 to $8 per mini lot ($10k of currency) or $40 to $80 for a full lot ($100k of currency). This does add up so spread is key in keeping your trading costs down.

You must feel comfortable with that brokers trading platform and for this you have to know what style of trading you'll do. Some traders scale into and/or out of trades which is harder to do with a Meta Trader account since it lets you add a new position and you have to exit each trade separately! For this reason traders who scale in/out of trades generally like FXCM's regular trading platform because it allows you to do this.

Also what EXTRA's such as market research, additional Forex Trading Software, etc do they provide. We are a Forex Software Developer with tools that when learned give traders an incredible edge. We sell our software for $2,000, lease it for $150 per month or give it away free if you trade with FXDD, FXCM or FX Solutions and we are your referring broker. Our software requires eSignal data which our broker partners pay for. This costs $100/mo and is no charge to our users!

So to Summarize:
1) Demo trade with each platform to find the one you are most comfortable with. Make mistakes on DEMO so you don't lose money unnecessary before trading with YOUR real money.
2) Spread is important and it varies between currencies. Determine the ones you will trade most frequently and find a broker with the tightest stops where you ALSO like their trading platform.
3) Extras - With our Forex Broker partners FXDD, FXCM and FX Solutions you get our $2,000 software FREE and also eSignal data FREE which saves you this $100/mo cost!
4) Training - Most brokers provide no training whatsoever. It's a churn and burn business for MOST BROKERS. By signing up with one of our brokers through us, it doesn't cost you a penny, your spread is the same as if you went directly to them but you get our software and data free and you also get one free week of Forex training where we teach you how to use our tools which find strongest and weakest currencies and we teach you over a dozen profitable trading methods. We go over 50 to 150 trades during that week so you will have a clear idea of how you are going to trade. This is invaluable!
For a list of our Best Forex Brokers click here.
Chris Donnell
LeverageFX.com
800-439-9125
Foreign Currency Broker