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Broker Easy-Forex eToro Forex Yard
Overall Rating
Minimum Deposit $200 $50 $100
Spreads 3-7 pips from 2 pips 3-5 pips fixed
Typical Leverage 200:1 up to 200:1 200:1
Reliability Excellent Good Good
Usability Excellent Excellent Average
Customer Support Excellent 24/7 Good Good
Additional Features Excellent Good Average
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Many people in the world find the currency exchange market very lucrative. To those who understand the mechanism of Forex trading nothing can be more exciting than buying and selling of currencies.

Though it sounds simple enough it is not so. Therefore as beginner and for most people doing Forex trading it is wise to go into this business through a Forex broker.

These are the people who have the knowledge and understanding of the market and can guide you in day to day business and leading you to profitable deals. There are hundreds of Forex broker sites online and you must compare Forex brokers to know which broker is best for you.

The Forex broker comparison sites actually give you the reviews of the broker sites so that you as a trader are aware of the strength and weakness of the online broker you are going to hire.

The comparison sites do not direct you or give advice as to which broker would be good for you. It is for you to decide after you go through all the reviews. In fact some of Forex broker comparison sites give a list of factors on which the traders should take into account while choosing their Forex broker.

Safety

Safety of your funds with a broker is of utmost importance. When you compare Forex brokers online you must check for its authenticity. In USA as well as other countries of Europe there are regulatory bodies which give their seal of approval to the registered honest companies.

In US for example you can look for membership of NFA or CFTC. This will be announced in the home page of the broker firm. You may find some online brokers offering exciting deals but it may not be a registered firm. These types of brokers should be avoided.

To start trading Forex with the best broker click here

Commission

Another thing to see when you compare Forex brokers is the commission they are charging. Mostly the brokers take their commission from the Bid and Ask price once the trade is done. No other fees are charged.

There are some brokers who do not charge at all. This might be great from the user’s point of view. It should be kept in mind that those who work on no commission basis charge 3 pips on Euro/USD in compared to 2/3 pips by commissioned brokers on your spread.

Initial deposit

Initial deposit is another area which should be dealt with during Forex broker reviews . When you are depositing only $50 for initial deposit you will end up with a mini account which may not be so effective from the business point of view. A deposit of $1000 to $2000 is what is effective in the market with a broker but with a mini deposit the chances of loss is much lesser.

Currency choice

The choice of currency the broker is offering to trade with for a trader is important when you compare Forex brokers. You have to see which currencies the broker is dealing with and whether it suits your requirement.

Customer support

Lastly the customer support is one most important aspect of Forex broker comparison. The best Forex broker will offer 24x7 support system and should have a friendly and patient attitude.

In the matter of Forex trading if your broker is not ready to support you when you need it to will be quite a let down. So when you compare Forex brokers you must look up the kind of customer support the broker is offering.

To start trading Forex with the best broker click here

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