Searching for the best forex broker to open an account with is definitely a challenging task and requires the same process like choosing a bank to deposit your money.
When trying to look for a bank to place your money at, one looks at the conditions offered (interest rate, safety, redemptions conditions, taxes and commissions, etc) before taking the proper decision.
Well, it's the for choosing the right forex broker. For example, giving the fact that London is the major financial center in the world now as the money flows through the City are reaching higher and higher levels, you might want to get interested in choosing a UK based forex broker. Because London as a financial center has the characteristics mentioned above, it has attracted lots of brokerage housed to open an office for attracting as many clients as possible. However, this is not an easy task, and as hard it is for a broker, the same should be for its potential clients.
Things to take into consideration when looking for a good forex broker involve: the markets offered, and here one should look at currencies (look for things like how many pairs, crosses are offered) and/or indices (trading indices on the same trading platform like the one for trading currencies is normal today); the spread that is being offered (difference between the bid/ask price) and its fluctuations; minimum conditions to be met in order to open an account; assistance offered (it is a standard now for brokers to offer 24/5 live assistance through live chat systems); how to deposit/withdraw money on/from your account; trading platform offered; promotions offered (what kind of promotions have been in the past, their frequency, etc); educational materials offered (books, live trading webinars, etc).
All the things mentioned above should be part of the process of selecting your broker and they are all important. Try to think that a good broker wants to have successful traders and it is in its interest to try to make you a better trader as possible. And that makes the case that the relation between a good forex broker and its clients should be viewed more like a partnership, with both having the same interests: earning money.
