You will find Lots of FX brokers but what should you look for in terms of trading with one? While many traders simply look for tight spreads, this is not the only criteria you should pick a broker on. You also need - security for funds deposited, your protected in terms of regulation and an easy to use and reliable FX trading platform. Let's do a quick check list on how to find the best FX brokers.

Regulation and Financial Standing

Try not to deal with unregulated brokers or brokers in jurisdictions which have poor regulation – look for CFTC NFA brokers or those regulated by the FSA in the UK. Many unregulated brokers are market makers and take the opposite side of the trade to you. In times of big moves, these brokers can be under funded and go bust – Don't take changes get a regulated broker and use it, as you will have a high degree of protection and peace of mind, in terms of fund security and best business practices.

Best FX Trading platforms

You can test platforms and you should select one that combines ease of operation with reliability. Most FX brokers will give you a demo account, so you can give it a try - take your time with your testing IT ,to see how the platform works and that your comfortable with it, before trading for real.

Pip Spreads

This is your cost of doing business - so look for a pip spread that is not going to impact on your profits and losses. If you are a frequent trader, pips can mount up so look for competitive spreads.

Leverage

Most brokers offer good leverage and all will give you 200:1 and many now will give you to 400:1 and while this enables you to increase your profit potential always remember the risks – You need 100:1 maximum leverage and any broker will give you this amount.

Funding Your Account and withdrawals

Make sure that you can get your money back quickly and also there is a facility to fund your account online should you wish to top up quickly. Today, many brokers allow funding by credit cards and other easy methods – there are numerous stories of brokers delaying payments so be careful to check around the forums to see there are no problems with the broker you are choosing.

Length of time in business

Forex brokers come and go so make sure that the one you use is an established name and they have been in the business for at least a few years or if they are new their backed by a major institution or bank.

Trading Tools Newsletters, Research ETC

Newsletters, free guides and trading tips, brokers use these to get and close accounts but don't pay attention to them – you can probably get them all for free online anyway.

Final Words

Choosing a reputable FX broker is vital in terms of achieving security of funds and helping you to make big FX profits and if you use the above list, you will find a reputable FX broker that suits your needs.