The art of choosing your online broker?
How many times per day or per week do you receive email alerts or advertisements giving you the latest recipe or full-proof methology to invest successfully on the Forex market? Investing and speculating on foreign currencies does require some effort in terms of self-education and training from each and every individual trader. So does the choice of the right broker for you.
Although nothing can truly replace the personal live account experience of a trader with his/her broker, it is however possible to reduce the margin of error considerably by trying to follow simple and logical steps which are detailed below.
1. Identify your personal selection criteria
Before you even start using BrokersMatrix to help you find your Forex broker, you first need to identify the criteria which are of significant importance to you in order to compare the various brokers, in a second stage.
In order to guide you as best as possible taking into account your trading style, we designed a visual summary table, underlying the relative importance of eleven major criteria according to the length you intend to hold your positions.
3. Search
The multi-criteria search engine is one of the great added-value tools on BrokersMatrix, dedicated entirely to searching online Forex brokers and giving you access to around sixty different search criteria.
5. Compare
You can compare brokers two ways: either according to seven main criteria or by undertaking a more-in-depth comparison and applying around sixty criteria to the brokers you selected.
When displaying your comparison table, you can now share the results with a friend or other traders on forums, blogs or even by email.
When displaying your comparison table, you can now share the results with a friend or other traders on forums, blogs or even by email.
2. Discover brokers
BrokersMatrix now offers over 200 brokers to choose from!
We are actively encouraging brokers to include and/or update their profile on BrokersMartrix, so that you may have access to the largest number of complete profiles when browsing brokers information.
We are actively encouraging brokers to include and/or update their profile on BrokersMartrix, so that you may have access to the largest number of complete profiles when browsing brokers information.
4. Select
Select and keep brokers you would like to know more about in your personal selection box before comparing them.
6. Share experiences
You have now completed all five steps to help you choose your broker and you narrowed them down to two or three who appear to meet your expectations. You now would like to get a better ‘feel’ from traders who are or have actually used this short-list of brokers.
Do feel free to register on the forum, view existing comments and ask questions.
