Lesson 5 of 47
How to choose a broker
7 min read
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Your broker is your gateway to the market. A bad one quietly costs you money on every trade through wide spreads, slippage and slow withdrawals. Check these things before you deposit a single dollar.
The checklist
- 1Regulation — is the broker licensed by recognised authorities (FCA, CySEC, FSA and similar)?
- 2Spreads and commission — what does a round trip on EUR/USD actually cost you?
- 3Execution speed and slippage — do market orders fill near the price you clicked?
- 4Deposits and withdrawals — how fast, and what are the fees?
- 5Minimum deposit and lot size — can you start small while you learn?
- 6Platform support — MT4, MT5 and a usable mobile app.
- 7Support quality — 24/7 human help matters the day something goes wrong.
Red flags
Guaranteed profits, pressure to deposit more, bonuses with impossible turnover conditions, or no verifiable licence. Walk away from any of these.
Our recommendation: Exness
Exness scores well on every item in the checklist: spreads from 0.0 pips, instant withdrawals, no deposit fees, multi-jurisdiction regulation, MT4/MT5 support and a $10 minimum deposit — so you can start at a size where mistakes are cheap.
Takes a few minutes. Start with a demo account first if you have never placed a trade.
Open a free Exness accountProgress is saved on this device.