Choosing the Right Broker
Brokers look similar on the surface. Use this checklist to compare safety, costs, execution quality, and day-to-day usability before you deposit.
Table of contents
1) Regulation and safety
- Verify regulation on the regulator’s official site (not only the broker’s footer).
- Look for client fund segregation and negative balance protection where applicable.
2) Costs
Compare typical spreads on the pairs you trade, plus commissions (if raw/ECN accounts) and overnight swaps. The lowest advertised spread is not the typical spread.
3) Execution and slippage
- Fast execution matters most for scalping/news trading.
- Check whether the broker supports limit orders, stop orders, and partial fills.
4) Platforms and tools
Choose a platform you can use daily: MT4/MT5, cTrader, or a solid web/mobile app. Make sure charting, alerts, and order management fit your style.
5) Deposits and withdrawals
- Test withdrawals early with a small amount.
- Check fees, processing times, and supported payment methods in your country.
6) Red flags
- Unclear regulation or mismatched entity names.
- Aggressive bonus schemes with strict withdrawal conditions.
- Poor support during basic verification/withdrawal questions.