Why When Trading The Forex Having The Right Broker Means Keeping Or Wiping out your Account

Now You have the amount you want to Invest (trade) be it 200$ - 400$ I recommeded at least a 1000$ or will find yourself with money managerment problems and margin calls (more about that Later).

So Now your Ready to trade, maybe you have been Trading a demo account for lets say 3-4 months, and you seem to be doing very well, well not to  burst your bubble almost every who has ever tried Forex Trading makes gains on a Demo Account, and then when they open a Live trading Account something seems to go baddly wrong (more again on this in later posts).

For this Reason it is Very Important to choose the Right Forex Broker, and yes there 100's of them all different in many ways.

Listed below is Three Quick things and there is more we all need to know when chooseing a Forex  Broker. (there are more very important things to consider as well More about this in later post's)

1. Trading Platform

In online forex trading, most trading activity happens through the brokers' trading platform. This means that the trading platform of your broker must be user-friendly and stable.
When looking for a broker, always check what its trading platform has to offer.
Does it offer free news feed? How about easy-to-use technical and charting tools? Does it present you with all the information you will need to trade properly?

Do you want to use a web based platform, or the popular Meta Trader 4 (5).

What Type of chart surport Does it offer, will you have to pay for this.

Does it allow EA's ??? (Expert Advisor)

2. Execution

It is mandatory that your broker fill you in the best possible price for your orders.
Under normal market conditions (e.g. normal liquidity, no important news releases or surprise events), there really is no reason for your broker to not fill you at, or very close to, the market price you see when you click the "buy" or "sell" button.
For example, assuming you have a stable internet connection, if you click "buy" EUR/USD for 1.3000, you should get filled at that price or within micro-pips of it. The speed at which your orders get filled is very important, especially if you're a scalper.
In this regard not all Forex Brokers are the same.
If there is a dely due to your Brokers Execution, your Order (trade) wont get filled at that price and the spread could widen limiting your profit, and causing you to pay a Higher Spread.
A few pip's makes all the difference to your profits, when you come to close the trade.

3. Customer Service

Brokers aren't perfect, and therefore you must pick a broker that you could easily contact when problems arise.This is very important if your internet Connection goes down.
The competence of brokers when dealing with account or technical support issues is just as important as their performance on executing trades. Brokers may be kind and helpful during the account opening process, but have terrible "after sales" support.

Hence you should be able to contact your Brokers and get the same servcie you had when you opened your Live Trading Account.

If Not the alarm Bells should start ringing.

Do your research remember It's Your Money, and you need to be 100% happy with any Broker you Choose to Open a Live Trading account With.

Feel free to ask as many Question as you like before parting with any off your Hard earned Cash.

If any Broker seems unhappy with any Questions you ask it's time to Walk Away.

Please feel free to leave your thought's, do you agree, have any thing to add it's all good.