If you are a beginner when it comes to Forex market, choosing the right broker that will securely operate all of the orders you want to place is not so easy. Today’s business sector is filled with companies and agents that are more than willing to juggle your money on the trading currency market. “How do I pick the right broker?” you might ask. We have three tips that will help you find the best Forex brokers lists and lead you to make an informed decision.

Ask those know more!

The best way to find a list that contains reliable brokers is with the help of your friends or business partners who have already made profit on the Forex market. If you decided to start investing in trading currency because you saw those around you making money, they are probably the people you should ask for advice. Write down the brokers they recommend and go through the lists you find on specialized sites. Pick those brokers that you find on both lists and do some background research on them or use the online comparison tools which you can find on certain sites. If they are suggested by both your friends and online media, they must be doing a good job. Also, do some reading on the matter before any investment. Become familiar with the terms used on the Forex market, learn about the risks and try to decide on a type of currency that will help you gain profit.

Keep your eyes open for scam lists!

If the list you found contains traders that offer you hyperbolical amounts of money at the first transaction, you could be facing a fraud. Experienced brokers will be honest with you and explain what type of investment you should make in order to gain a certain profit. Make sure you check the authenticity of the brokers presented on the list by going on the National Futures Association (NFA) site. This page contains information about all brokers who can legally operate within the US and data about company’s or the agent’s registration process with the Futures Commission Merchant (FCM).

Find out which are the top brokers!

The best way of picking a proper broker is by choosing those who are the most successful. Even though the commission fees may be higher, it is better to make a smaller profit than to lose money. Most brokerage firm lists have success graphs and reviews which we advise you to check out if you want to make a good decision. The biggest names in the business are Saxobank, iFOREX, FxPro and Fx Company, but you can go for smaller companies as well. It is very important that you find a broker that can offer you the information you need and is there for you 24 hours a day seven days of the week.

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