Finding the right forex broker can be a challenge if you don’t know where to look. There are so many brokers available, all with their own offers trying to lure you in.
Note: I’ve been using Pepperstone for a while now, and I’m extremely happy with them. I use their Razor ECN offering, which offers super low spreads (often 0 on EURUSD) and their service is absolutely top notch. If you’re looking for a good and reliable forex broker, I’d recommend checking them out. The Pepperstone link is an affiliate link. If you enjoy the content of this site and you’re looking for a broker, please consider Pepperstone as you can get the first 20 trades free when you sign up. The commission I receive helps me run this site. Thanks!
When choosing a broker, it’s therefore useful to look at the following criteria:
The spread of a currency pair is the difference between the buying price and the selling price of that currency pair. Most forex brokers don’t work on a commission basis, and the spread is how the brokers actually earn money when traders make orders. Different brokers will offer different spreads, and it’s worth looking into which brokers offer the lowest spreads on the currency pairs you’re planning to trade with the most often. A useful website to check a lot of broker spreads for the most common currency pairs can be found here.