Check the regulations and legality of the forex broker if you are interested in forex trading. Make sure your best forex broker is officially registered. To find out this, you can check through the official website. Of course, this step is very important, because you can find out which forex brokers have obtained a license to operate or are no longer operating (revoked). Make sure that the broker offers easy deposit and withdrawal with a debit card. You could see the list of broker that offers the service at http://www.internationalanswer.org/forex/debitcard-brokers.html.
But do not forget to check out the broker’s permit. So, if you come across a forex broker that doesn’t have a permit from a regulatory agency, it is certain that the broker is operating illegally. Not only here, as a trusted forex broker, but brokers in various countries must also comply with the rules set by financial regulators. Forex brokers must be registered with the Commodity Futures Trading Commission (CFTC) and be a member of the NFA, Futures Commission Merchant (FCM) in the United States. Even in the UK, the best forex brokers must get a license from the Financial Services Authority (FSA). Besides, in Cyprus, the forex broker regulator has to be under the supervision of CySEC.
Pay attention to the details of the forex trading account you have Each forex broker generally has different account conditions or details depending on each company policy. Will the broker benefit from the commission? Of course. More specifically, every transaction you make must take into account the amount of commission from the forex broker, which you can choose later. The combination of commission and spread is the amount you have to pay in every forex trading transaction. So for the transaction fees that you do not only see the commission or spread but a combination of both. The smaller the combination of the commission amount and the spread, the better it is for you.