1. Low Spreads
The spread is the cost of doing business in forex trading. Forex brokers should provide a reasonably low spread. It is important to note that some brokers have a
variable spread that changes with market conditions.
2. Low Minimum Lot Size
Being able to trade smaller lots will allow for tighter risk management. Look for a broker that can offer you the ability to trade small lots. For beginning traders,
mini lots or micro lots are recommended.
3. Fast Order Execution
Any trading style can benefit from an order being filled quickly. Delays in filling an order can cause losses in volatile markets. The broker should be able to fill your order in less than a second in any market.4. Extensive Technical Tools
The broker should offer you a wide array of technical tools to use for chart trading. As you develop a trading style, you may find that you feel comfortable using new tools. The availability of a wide range of technical tools can help you to find your trading strategy.5. Adjustable Leverage
A good broker will offer you the ability to change your leverage as needed. A broker that forces you to use high leverage is probably trying to help you lose your money. There will be times when more leverage is appropriate and times when less is appropriate. You should be able to call your broker and have your leverage changed any time that you need it to be.
