Of course, I have my own favourite broker right now, which I'm currently using, but a year ago, my answer was different as I was using a different trading technique. Some people only care about how low the spreads are; others want a reputable broker that's been around for a long time while others just want a broker that's located in the same geographical area as them. And some traders just want a broker that allows micro trading (trading 0.01 lot sizes), so that they can test out their strategies with real money without going broke!The good news is that with the increased competition facing brokers, overall service quality has improved drastically. All of the brokers on there have been pre-screened to meet certain minimum standards and your money is considered to be safe with them. Although some countries do not have regulatory licensing requirements, many do, and it's generally a bit safer to trade with them than with an unregulated broker.


If it does, then it means that the broker is a "market maker", then it means that every time you lose on a trade, the broker wins, therefore your best interests aren't necesssarily theirs, and vice versa!
Some forex brokers do not allow scalping as it takes more resources on their end to manage numerous small transactions that only last a few minutes (or seconds!). Some brokers offer super low spreads, but they lack other features and benefits, while some brokers have spreads that are considered average but they have all the bells and whistles that your trading style requires.
Managed accounts are great for two reasons: when you're starting out, you may prefer to let others (with a proven track record) do the trading for you. These forex account managers, commonly referred to as signal providers, use different trading techniques, but they always have a track record which you can look over and a description of the type of strategy they are using.


These signal providers get paid through the spread, so there are no added costs (and once you become an experienced and profitable trader, you can become a signal provider yourself, and get paid for providing these very same signals).



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