If you are going to start trading on the foreign currency exchange then you want to find one of the top online Forex brokers to work with. Finding a Forex broker shouldn’t be a snap decision, you need to carefully evaluate, review and research the past history of the broker as well as the tools, information, education and services that they offer.
If you are a first time trader then looking for a top online forex brokers that can work with you at your level and then provide you with more information, education and options as you gain knowledge and strategy for the market is critical. For those that are already experienced looking for a broker that can handle high volume trades may be more essential than how effectively they provide learning opportunities.
Regardless of your level of experience comparing the top online Forex brokers before making a decision is critical. Below are several key factors to keep in mind if you are looking for your first broker or making the decision to change brokers.
Free Demo Accounts
Whether you have years of experience in the market or if you are just getting started choose from top online Forex brokers that allow you to open a free demo account. You can use the various platforms the companies offer from their proprietary software to the more universal platforms such as MetaTrader to gain experience and understanding with the systems they use.
Payment Options
The top online Forex brokers don’t all accept the same types of payments. Often the payment type is conditional to the area where the company is located and can include general payment options such as credit cards, wire transfers or specific online payment options such as Neteller or PayPal.
Some companies also offer specific payment options for international clients which may be important in countries where payment options may be limited.
Minimum Deposits and Bonus Options
Many of the top online Forex brokers now have very low minimum deposits, with some as low as just a dollar to get started with an account. Others may have much higher minimums of $2000 or more.
Bonuses for opening an account with top online Forex brokers also vary greatly. Some companies offer a percentage of the first deposit as a bonus, a set dollar amount or a gift of a specific amount. Less commonly some brokers may provide a percentage match on all deposits, which can be an incentive for large volume traders.
