To succeed in Financial trading, the broker you select plays a vital role in determining your level of success in forex trading or even whether you’ll succeed at all.

As a trader or potential forex trader here is the Big 5 that you should look out for when selecting  Top Forex Brokers:

1. Instant Transactions. The forex market is volatile. Any information older than 30 seconds is considered stale. In this regard you’ll want to therefore look out for a forex broker who executes trades instantenosly and also provides timely chart showing the correct currency trends for all currency pairs and commodities.

2. Advanced Forex Tools : A broker must provide a user friendly platform while using advanced technology at the same time. some of the value addition tools that a top broker should have are:

• graphical interface- so that users can visualize their trades in real-time
• competitive charts- its easy to compare currency pairs at a glance and adopt a trading strategy immediately.
• A forex broker who listens to traders will always have the most innovative tools that traders use for efficiency and quickened profit making.

3.Learning Materials - To learn forex is complex compared to other business models. Whereas most of the learning is experiential a good forex broker should seek to educate its traders so that the traders can skip the experimenting phase and move straight on to proven knowledge and skills that work. An addition to this is the provision of a mock/practice trading platform where novice traders can experiment before they switch to real trading.

4.Community – A forex Broker should provide social tools. As the world moves from information age to recommendation age. community tools like forums, chats and blogs are vital for knowledge passage and sharing among traders. Somethings are better understood when explained by other users.

5. Customer Support – 24 hour customer support in voice, email and chat is the minimum one should expect from a forex broker. Considering forex traders come from across the globe in different timelines, then knowing that there will always be someone to respond promptly at any given time gives a homely feeling to a forex trader.

Whereas, the checklist above is not hard to achieve for any determined forex broker there is more that you need to investigate before you put your hard earned money on forex trading platform from your choice forex broker.

Company: What’s the company name of the forex broker. In most cases its not the same as domain name.

On-line since: For how long has the forex broker been operating online

Country of origin: In which country is the forex broker registered? which leads us to the next item

Regulation: Which orgarnization(s) regulates the forex broker? Some of the main ones are:

• Markets in Financial Instruments Directive (MiFID) _ Europe
• IC Markets which is regulated under ASIC – Asia Pacific in Australia
• Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). – USA

Payment options: Some of the common payment options are: Moneybookers, WebMoney, bank wire, credit cards, PayPal and Neteller. Make sure that a payment option which works in your country is listed before you invest.

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