As complex as the forex market might be, getting a start in forex trading is actually quite simple. In just five steps you could become a part of the largest, most dynamic market in the world.
Trading forex can be extremely profitable. It is also inherently risky. Don’t increase your risk by choosing the wrong broker. I’ve carefully analyzed dozens of forex broker options and reviewed, ranked, and compared them so that you can choose the best forex broker for you.
When choosing a forex broker, your first choice is whether to use a regulated forex broker or an offshore “unregulated” broker. Regulated brokers are much safer, but they do have some disadvantages, so it’s important you make an informed decision.
To demonstrate how risky CFDs can be, some CFD brokers are required to disclose what percentage of their clients lose money. I’ve compiled this data from 15 different CFD brokers.
Offshore forex brokers add an additional level of risk to forex trading. They also offer some distinct advantages in comparison to regulated brokers. I’ve broken down all the pros and cons.
Choosing the right forex broker could be the difference between becoming a profitable trader and losing your hard-earned capital. Follow these five steps to choose the perfect forex broker for you.