what should you look for in a broker?

First,forex brokers should offer competitive spreads, or the difference between the selling and buying prices of a certain currency. Good forex brokers competition offer anywhere between 3 and 5 pips, the ideal spreads that can make sure you are gaining from your investment. Avoid as much as possible those forex brokers competition that offer variable spreads, as you may find a spread that suddenly widens during a busy market, which is where you would gain money, but only if the market is bullish.

Another good indication of a reliable broker is one who uses a secure online connection to take payments and funding for your forex currency account. This ensures smooth trading, because you don’t have to make time-consuming e-commerce transactions just to get money into your account, and another transaction to transfer profits to your bank account. Remember, you don’t only trade, but you also have to look at forex brokers competition data in order to make decisions. You don’t have the time to make time-consuming transactions in between.
Next, as a way to maximize your potential profits when engaging in the trade, you need to have a forex broker competition that will grant a leverage of about 200:1. This is the ideal leverage that forex brokers competitive should have; however, there are some that offer higher leverages. These leverages even reach 400:1 as a maximum, offering your higher potential profits from your forex currency trade.