There are a large number of brokers in the retail market these days, each touting its services as the best in the entire market. It’s important to understand the various criteria according to which you can screen the brokers, and make your choices.
You should carefully consider your own expectations from trading, and compare that with what is offered by the broker, choose the one that is best suited to your needs and examine the criteria in order of importance.
Security – The first necessity for the right broker must be the safe and reliable track record of the firm. Fortunately, the regulatory authorities do their best for screening and weeding out the unreliable ones among the many decent firms.
Spreads – The broker usually receives the compensation for its services by widening the bid-ask spread beyond the quoted values in the wholesale interbank market, a wide bid-ask spread represents a larger amount of money leaving your pockets, and entering those of the broker’s.
Withdrawals – You should be able to withdraw your earnings with ease. Conversely, the broker must facilitate your termination of the account in case that you’re not entirely satisfied with the services offered, regardless of the reasons.
Margin Requirement – Margin requirement and leverage ratios are the second most important aspect that must be considered during the choice of the broker. Since higher leverage is only advisable for traders with a proven track record of profits and success, the beginner should be allowed to get used to leverage on a step-by-step basis, and the minimum leverage available is far more useful as a criterion.
Trading Platform – You should always seek those offers which allow the greatest automation, and reduce human interference to the lowest level possible. This is only possible with a successfully implemented trading platform. Using a well-crafted, well-maintained platform can greatly reduce the element of stress during trading.
Customer Service – A friendly, patient, and helpful customer service can be profit multiplier if used correctly.
Instruments Offered – It is a good idea to choose a broker that offers the widest array of tradable Instruments.
I’ve been tranding for several years and working with ActivTrades since 2012, which grown to be a global award-winning broker for both retail and institutional traders.
After trying others, I can say I’m very favorable impressed with ActivTrades.
Beyond several other advantages, I would like to point out the following ones:
– 24 hours’ client service; Good customer support and valuable education (One to one, Seminars, Webinars, Handbooks and Educational Videos)
– A very wide range of instruments to negotiate in currency pairs, metals, indices, commodities, shares and financials.
– Powerful and globally respected MetaTrader 4 and MetaTrader5 trading platforms (also available on the most widely used mobile devices)
– Low spreads and low commissions
– Excess of FSCS Insurance: Client funds individually covered up to £1000,000
– Direct Execution: Fully automated executions. There is no dealing desk and therefore no human intervention over your trades.
Have a look to ActivTrades Benefits and decide for yourself.