To choose the broker that best fits you, you must take into account a certain number of criteria as well as your knowledge of trading. Indeed, each of the brokers offers and has different specificities, both from the point of view of offers (welcome bonus, number of currency pairs offered, minimum deposit, minimum lot size, platforms offered, compatible supports, amount of spreads, etc.) and from the brokerage company regulation, head office, presence of offices, number of years in operation, etc. And their accessibility according to your level (do you master trading platforms like Metatrader? Or do you want to take your first steps using ‘a simplistic broker?).
All of these questions and criteria are worth considering to find the online broker that best meets your requirements.
Choosing the broker according to trading platform
The choice of a trading platform comes to your preferences, trading experience and knowledge. Take a look at the thefinancialig.com review to see what’s in store when it comes to this specific trading platform. You must bear in mind that there are a lot of differences between brokerages. So it’s advisable to compare various reviews to have a better picture of the offer.
Metatrader compatible Forex brokers
If you already have a mastery of Forex trading and you know how to handle sophisticated trading platforms like Metatrader, then it is advisable to call on one of the brokers in the “advanced” category. Indeed, these platforms, much more complete, will allow you to establish more sophisticated transaction orders, to carry out in-depth technical analysis using numerous technical indicators, or even to develop or use expert advisors or automatic trading. These online brokers are easily accessible (quick account opening), generally offer a welcome bonus and are mostly “market maker” brokers.
If you are an experienced or rigorous trader and you want to use a very high-quality online broker, we invite you to select a broker based on their reputation. These brokers are all very high-quality brokers offering excellent execution quality, outstanding customer service, the lowest spreads in the market, available advisers and generally have offices in many countries.
Be careful, however, these brokers sometimes require relatively long registrations (more than 15 minutes) and require the sending of a certain number of supporting documents by email (identity papers, proof of address, etc.). Minimum deposits can also be high (500 to 2000 € for some).
The majority of the reputable online brokers these days are no dealing desk brokers.
These ECN or STP type brokers will offer you very competitive spreads and exemplary quality and speed of execution (no slippage, any authorized strategy (such as scalping), instantaneous execution, etc.).
If you plan to make a deposit above the minimum deposit requirements of these brokers and you are familiar with trading platforms like Metatrader, choosing a broker from the “expert” category is the best choice. These brokers have a rigor and a remarkable quality which will only cost you a few tens of minutes of time (for the opening) to benefit from them.