A large influx of brokers has made things somewhat challenging for new traders. They have no idea about the features they should consider while selecting a broker. I was facing the same conundrum, but then, I outlined some parameters and I picked fxview, fxcm and fxpro as they met all these parameters adequately. The parameters I considered include the following: Regulations The motive behind choosing a regulated broker is to ensure fair and ethical trading. There are many regulatory bodies that regulate brokers from all around the world such as CySEC, FCA, ASIC, FSCA, HCMC, FSB, and many more. Minimum Deposit Traders should find a broker that allows them to trade with a deposit they are comfortable risking initially. Many brokers offer different accounts with different deposit requirements to meet the requirements of all traders. Spreads & Commission Choosing a low-spread broker is always beneficial for traders, as the smaller the difference between the bid and ask price of currency pairs, the more traders can make from their trades. Moreover, low spreads also indicate high liquidity and low volatility. Commission also plays a vital role as to how much traders would take home, so the lower the commission of brokers, the better it is for traders. Trading Platforms Trading platforms decide whether trading will be carried out smoothly or not. A good trading platform will be user-friendly and will have minimum latency. Almost all brokers offer demo accounts to allow traders to try out their trading platforms, so traders must check for the following things: How easy is it to enter and exit trades? Does it have advanced trading options like automated trading, web trading and mobile trading, strategy builders, and trading alerts? Does it offer fundamental and technical analysis and charting tools? Best Trading Platforms Right Now: MetaTrader 4 MetaTrader 5 ActTrader CTrader Leverage The amount of leverage offered by traders also varies from broker to broker, while some offer more leverage than others. But, traders should choose a broker that offers dynamic leverage along with good risk management features. Withdrawal processing speed Lastly, no trader likes waiting for their funds to arrive, so it is better for beginners to choose a broker that allows fast processing of withdrawals without charging any transaction fee. Another point to keep in mind while selecting a broker is customer service, whether they are quick to respond to traders’ queries or not. Since new traders have lots of questions and queries, it’ll be better to trade with a broker whose customer service is reliable and responsive. Make sure to take these parameters into account while selecting a broker and avoid those that didn’t fit the bill.