The Sensible Guide to Forex: Safer, Smarter Ways to Survive and Prosper from the Start

APPENDIX F

Choosing a Forex Broker

As with evaluating any vendor, do your homework.

To maintain maximum objectivity, I will neither recommendbrokers nor specific reviews or websites that provide them.

To speed your search, however, I offer the following guidance.

SUGGESTED SEARCH TERMS TO FIND BROKER REVIEWS

Search for reviews using the obvious combinations of keywords like:

• “Forex brokers” AND (reviews OR comparisons)
• “Forex trading” AND “recommended brokers”
• “Online forex trading” AND “broker reviews”

If you're curious about a specific broker, try searching for specific reviews about them. For example,

• FXCM AND reviews
• GFT AND “compared to other brokers”

Criteria to Consider

Once you've seen some reviews and have a list of possible brokers, consider how they compare on the following criteria.

A few must-mentions include:

1. Overall good reviews. While there are many forums you can find online, anyone can post anything to many of these, making them great spots for any loser seeking to vent frustration at a broker. Unhappy customers are more likely to post than satisfied ones. You may well do better sticking to websites like DailyForex.com that do their own independent reviews. When visiting these sites, look for evidence credibility. Does the site reveal weaknesses as well as strengths, or do the reviews sound like they were written by the broker's marketing writers? Also, take note if the same brokers that get top reviews are running advertisements or have links on the ...