It would seems straightforward that to start trading Forex all you need to do is open an account with a broker and start trading. Your options would be just the minimal deposits and fees. Alas, the world of Forex brokers is not that simple. There are a lot of aspects that aren’t pretty at all.

Like everywhere here money is concerned, there’s automatically wrongdoers whose only purpose is to get money out of unsuspecting people. Maybe for that reason, an average life time of a Forex broker is very short. There are very few brokers who stick around for few years, and needless to say you should prefer them.

So what’s the problem with those Forex brokers who come and go. Many things really, starting with poor customer support, ending with financial manipulations, such as excessive re-quoting and trading against the traders.

First thing to do before choosing the broker is to check their pricing. Is the spread reasonably high (too low of a spread may indicate behind the scenes recouping of the earnings – no broker will work for free), if it’s not, what other commission is charged? While it’s hard to know if a broker trades against, which means it’s of their interest that you lose, the pricing should give the indication.

Finally, check the Forex reviews for feedback about various brokers.