To trade Forex successfully, you need two things:-

1) A strong trading strategy and secondly.
2) A good broker; one that will allow you trade like a professional trader no matter what level, or amounts you are trading with.

However, most traders make the mistake of not getting the basics right, which is why they struggle and never achieve their potential.

Most of the negative things written about forex brokers, especially those offering Metatrader4 Charts, in forex broker reviews come from the fact that the traders did not take the time to learn the basics and develop a successful trading strategy, so are then left feeling cheated when their trades aren't profitable.

To find a good broker look for the following …

1.Low spreads.

The spread is the difference between the bid and the ask price. The lower the spread the 'cheaper' the trading is.

2.Instant Execution Of Orders.

It's very important when trading Forex that you don't suffer re-quotes when entering a trade to buy or sell. This 'slippage' can have a significant effect.

Often this comes down to the liquidity a broker can provide, which is often indicated by the volume of trading that is going through them and many brokers now offer "straight through" dealing or ECN

3.Low Minimum Account Opening and Trading Amounts.

You should only trade with as much as you can afford to lose. Using a broker with low account opening amounts AND small trade sizes means that traders can trade at a level they are comfortable with and that best allow them to allow their trading strategy to work.

Many experienced traders 'learned' with smaller amounts and built their way up gradually.

4.Good Education and Training.

If you are new to Forex, you cannot form a real trading strategy without a full understanding of the fundamental and technical aspects of the industry.

A good broker will offer the opportunity for this, as well as free professional charting and technical analysis tools.

5. Leverage.

Leverage is effectively borrowing money to trade. For example if you used 10:1 leverage then you would trade with ten times as much money as you put down. If you used $1 from your account, you would actually trade with $10.

This can be a double edged sword, because it means the profits and losses can be much greater and happen much more quickly. A good broker will give traders flexibility to trade with as much or as little leverage as they need.

Based on these 5 criteria I have used my past experience of the industry to put together this site to review the current Best Forex Brokers in the marketplace.

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