• Section: Money Guide - Category: Invest Online
• Written by Sacha Tarkovsky

Choosing a forex broker is important in maximising your trading profits and making sure your trading experience is smooth.

Here you will find a checklist so that you can find a broker that will maximize your trading experience.

1. Execution Only

Your broker is only there to help you transact your orders and make sure your account runs smoothly

commissions or fees - make sure the spread is all you pay.

3. Leverage

Look fro leverage of at least 200:1, although many brokers will offer you more and some go as high as 400:1.

4. Trading platform

Check it out and see how useable and reliable it is and that you get 24 hour support, if you need it at anytime for any problems you may encouter - not all brokers offer 24 hour service so beware.

5. Ease of funding and minimum investment

Today, many forex brokers will let you fund an account online with as little as a $100.00.

If you are a novice starting small is a good way to get your feet wet.

These companies also allow small minimum trades.

If there are online payment facilities, you can fund your account quickly and equally get your profits back quickly.

6. Guaranteed stops

If you are a novice trader and worried about the unlimited liability that margin trading presents, you may want to guarantee your stop and there are many brokers who will provide this comfort for a fee.

7. Extras

A forex broker is not there to give you trading advice but it is nice to get extras such as demo accounts, free newsletters, reports and other educational material, which can help you improve your trading

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