How to compare Forex and CFD brokers?
It’s not so easy to find a reliable forex or CFD broker. There are so many brokers, so it can be difficult to choose the most suitable one. A way to find a good broker, is to compare Forex and CFD brokers. You will discover which online broker is the best for you. We give you some advice how you can compare brokers and how you can recognise a reliable forex and CFD broker.
Read reviews
Reading forex and CFD broker reviews is one of the best ways to compare forex and CFD brokers. By reading reviews you will get an insight what other traders are experiencing using a forex and CFD broker.
Check the license
A trustable and reliable broker has a license. Reliable brokers are licensed by the financial authorities. This is one of the most important requirements. If a Forex and CFD broker is licensed by a financial authority you can be sure it’s not a scam.
Compare the deposit and withdrawal rules
Another point you should check are the deposit and withdrawal rules of a broker. Most brokers have flexible deposit policy, but a tightened restrict policy on withdrawal money. You can find this rules on the website of a broker.
Compare brokers at a specialized website
We advise you to compare forex and CFD brokers at a specialized website. A reliable website only list online CFD and Forex brokers, that operate in an officially regulated environment.
Check the availability
Websites form CFD and Forex brokers must be available 24 hours a day and 7 days a week. We recommend you to check the availability of a website from a broker at different times a day and week. Check the availability also during the busy, peak hours and control how fast the website loads.
The minimum deposit
Most brokers require a minimum deposit to access an account and start trading. Some brokers require a deposit from $100 and others require a deposit from $200 or $500
The diversity of instruments
Research if a broker gives you access to the CFD’s and the instruments you want to trade, like for example forex pairs, commodities, shares and indices.
Extra offers
Some brokers also offer free educational materials about trading. Or you can follow webinars and seminars.
The helpdesk
When you compare Forex and CFD brokers, don’t forget to check the availability of the helpdesk. When you coThe helpdesk needs to be available 24/5. Most brokers have a helpdesk that you can contact via telephone, e-mail or a contact form. Some brokers offer support in more languages, like English, German, French and Spanish.
Start trading forex or CFD’s?
Want to start trading forex or trading CFD’s? Many brokers offer new traders a free demo-account, that you can use to practise with trading. After learning enough about trading forex or CFD’s, you can open a real account and start the real trading.