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A Forex Broker is basically a company that buys and sells orders according the investor's decisions. Brokers earn money by charging a commission or a fee for their services. Different brokers offer different services and advantages which may suit each trader differently, and a each broker can appeal more or less to a specific type of trader. But there are basic things which each legitimate broker should offer regardless of what extra benefits they chose to provide, this is a list of the most important factors a Forex Trading Broker should have. 1 - Licensed - The first and most important thing to look for in a broker, is that they are Licensed and working legally They need to declare exactly by who they are licensed and authorized and provide a license number which you can check when needed. 2 - Backed by a financial institution - Your broker need to be associated with a financial institution, such as a reputable bank in order to provide funds for margin trading, and to ensure the safety of your funds. 3 - Demo account - Every Broker should have a free Demo Account available for download to allow potential clients to try the software and trading that the company offers before investing their own money. 4 - Trading Software - Every Broker should provide their clients with a free trading software, the trader should not be expected to have his/her own software. 5 - Account Manager - The Broker needs to assign a specific person to be responsible for your account and communicate with you from the point of starting an account to the point of terminating it. This person is not responsible to help you trade, but should be in contact with you to update you on any important information you should know, and over all help you have the best trading experience with the company. 6 - Transparent - Brokers should State their rules and regulations in detailed clarity, so that users are able to find any information they need clearly stated, and not fabricated at the point of a problem. This way conflict can be avoided much easier. In addition it is important that there a broker clarifies any fees or commission they may charge. 7 - Slippage - They should be able to tell you how much slippage can be expected in both normal and fast-moving markets. 8 - Deposit and Withdrawal Options - A broker should provide several funding options to accommodate different clients, making both Bank Wire and E-wallet options available. 9 - Customer Support - They should have a fast and efficient help desk and costumer support which is available 24 hours, and will assist you with any difficulties you may come across. 10 - Fast Execution - Needless to say, fast order execution, and fast execution in general when it comes to any actions you take when using the software and dealing with the company is important and should be a priority for the broker. 11 - Minimum Technical Errors - Although technical errors can and will occur anywhere, a broker needs to work hard on ensuring the least possible technical errors happen and affect the trades 12 - Value - Even though this is an extension to the main tasks of a Forex broker but these days its is important that a broker offers you more than just the basic services. these agents can also provide advice on Forex trading strategies (although not direct advice on your trades), News, Technical Analysis, Blog, Forum, articles, education courses etc 13 - And last but not least have a good reputation. This is mainly a good indicator that the broker has a history of good services. Of course if you keep looking you will find all kinds of extra benefits and offers, like promotions, Account management, instant news feed and many more features which are used to increase value, and you can chose according to which broker's offers appeal to your needs the most. But these basic services must be a part of any broker in order for it to offer a good Trading in Forex. Best Regards, Charalambous Yiannis [email protected] Authorised and Regulated by the Cyprus Securities and Exchange Commission Licence No: CIF 107/09 http://www.tradingforex.com/en/?a_aid=001&a_bid=57d33924&chan=forum_topgold 6 Regas Fereos & Vasili Vryonidi Street City Chambers, 4th Floor, 3095 Limassol, P.O. BOX 70721, 3802 Limassol – Cyprus Tel: +357 25 20 7000 Fax: +357 25 20 7007 http://www.tradingforex.com/en/?a_aid=001&a_bid=57d33924&chan=forum_topgold P Save a tree...Please consider the impact on the environment before printing this e-mail.