There are so many different choices in there; it becomes difficult for newbie’s to choose a broker. There is a probability that new traders have no idea on where to start from. Well, to choose a best broker you need to follow three simple steps to help you find a forex broker that you think would suit your needs. Check 1. Do your complete research Before actually making your comparison analysis, it is very important to do your research on the broker with following steps: 1. Find out if the broker is regulated. Also, find that if the broker has any regulation with USA or UK. Check to see if the broker choice is with NFA or CFTC based in USA or the broker choice is with FCA based in UK. 2. Find out if the broker owns a dealing desk or it is a no dealing desk broker. Also, find out if the broker with no dealing desk what is the type of spreads that it offers. Fixed or floating spreads. If the trading conditions are good & suitable for you own trading style. 3. What is the leverage that is offered by your broker? If it offers very high leverage, it can be quite risky for you. However, if the leverage is low, it may not useful for a newbie. 4. Knowing your risks. If you know your risk amount, then you can start trading with the capital that allows the minimum affordable risk that you possess. However, if you want, you need to find that broker allows you to trade in micro lots to avoid huge losses. 5. Swap charges if there are any. Do check if the swap charges are being charged on daily basis or if your broker credit or debit them. 6. What are the premium services offered by the broker i.e. charting tools, news feeds and the market commentary and how would it help you? Check 2. Make a comparison analysis between the various brokers and also check for the broker comparison guide made by the different online websites. Check 3. Open demo accounts & check your suitable trading style Pick minimum of two or three brokers that fits best for your trading criteria & open demo accounts. Trade in dissimilar market environments. Learn all the features of any trading platforms. If you have any questions, don’t be afraid to question. If the broker posses a good customer support, they would be happy to answer your questions. Most of the demo platforms are typically similar to the live counterparts and not the same. There can be only difference of trading conditions like speed, slippage and platform reliability (most of the live accounts are usually more dependable than demo accounts). When you have a strategy and you are prepared to move it to live account, start with a small amount and test it and also see if the broker would suit your trading needs.