How to choose a Forex broker

• Forex in the largest market, with daily turnover exceeding USD 5 billion
• It’s the world’s largest financial market
• The OTC market means that there is no unit that supervises trading on this market

Listed above are only a few reasons that make choosing a Forex broker a complicated decision. This article offers a quick overview of four criteria you should consider when choosing a Forex broker.

1. How easy is it to deposit and withdraw funds?

It’s important for traders to know if they can deposit and withdraw funds at any time, and whether there exist any additional restrictions and conditions they should be aware of. Payment methods should be varied and give more options than just a simple transfer of funds. Withdrawals should be possible without having to contact the broker by phone or email. Deposits and withdrawals should not only be simple, but also very quickly made by your broker.

2. Are transaction costs transparent?

When choosing a broker, it’s important to understand all costs directly related to investing, and the payment and withdrawal of funds. It’s crucial that the broker has a special section on the site that addresses all costs that the client may incur, so that nothing can come as a surprise. Feel free to find out more about how to deposit and withdraw funds with XTB on our website.

3. Will you receive support 24 hours a day, 5 days a week?

It’s important that you have the option to talk to customer service whenever the market is active. Email communication is a minimum requirement, while top brokers from around the world give their traders a chance to communicate via chat, telephone, and even one-on-one meetings in their offices. To get in touch with XTB, please visit our Contact Us page.

4. Does the broker offer anything more than a trading account, such as free educational material or a trading platform?

Many brokers provide their clients with nothing more than a trading account for making transactions. When choosing a broker, you should consider whether their package also includes professional service in the form of a personal account manager, who can introduce you to the world of investing. The support should include any issues related to the offer and operation of the investment platform, as well as assistance related to the proper assimilation of educational materials. Top global brokers provide clients with educational support in the form of webinars, stationary training, joint meetings and seminars, and even one-on-one sessions.

Moreover, your account manager should inform you about any upcoming promotions that may interest you. It’s always a good idea to stay in touch with your account manager, as it can significantly speed up your progress.