100 forex brokers pepper stone financial this day and age, Forex brokers have come a really long way and there is now a lot of competition. Forex brokers know that if they don’t offer you a good product someone else quickly will! That means YOU can get a really good broker and try them on their demo for free before depositing real money. Gone are the days where traders cannot afford to trade the cross Forex pairs such as the GBPAUD or EURNZD just because the spreads are too large.
Even though some brokers are still ripping traders off on these pairs, the competition is now such that these traders can turn around and within a few minutes have another live account up and funded with another broker and far superior trading conditions. What Should You Look For With Your Forex Broker? There are a few really important non-negotiable points that you should be looking for with your broker. Some factors when trading are super important and when it comes to placing a trade the security of funds is a huge issue. With this in mind it is very important that whatever broker you are looking to trade with that they are regulated and that they segregate client funds.
It is important that brokers are regulated by a financial watchdog such as ASIC in Australia or the FCA in the UK because the broker has someone policing them then and they are not a law unto themselves. This also gives you a financial institution to go to if something happens that you don’t agree with. A lot of Forex brokers are not regulated and if they do something you are not happy with and they are no regulated, you have no one to make a complaint to or get something done about it. The other reason this is important is because with many brokers traders are getting ripped off on the cross and more exotic pairs with the higher spreads making these pairs not worth trading. This can then make these traders miss high quality price action setups simply because they were with a broker that was charging too high spreads.