In an earlier post, I shared about how to find out if our hard-earned trading funds are safe with a forex broker. I feel this is the most important because there are many introducing brokers and it is very easy to set up a forex shop. Low barrier to entry mean there will be more black sheeps.

After making sure that my trading funds is in safe hands, what do I look out for next?

A Brokerage Platform that Suits My Trading Style

Most of the aspiring traders, myself included, start off trading part-time. That is, we have full-time jobs that keep us bounded to our place of work from 9am to 6pm or thereabouts. For me, because I am working in a government agency, my office laptop is locked down. That is, I cannot install any private software on my office laptop. I can bring my personal laptop to the office but personal laptops are not allowed to connect to the office network to access the internet. Now you know how secure our country is! A very important consideration for me is to look for a forex broker that provides a pure online trading platform (with charting!).

Hey, I don’t mean to skive while working For my current trading strategy only requires me to check the charts once every hour. So no harm done (yet)! Relax, boss!

A Brokerage Platform that Suits My Trading Type

If I am only doing pure manual trading, a online trading platform is perfectly fine. Let’s say I am interested in running a few expert advisors (EAs) or two. Then I will need to look for a broker that provides the MetaTrader platform (EAs are mostly developed for the MetaTrader platform).

So is there a broker that offers both the MetaTrader platform and an online trading platform? Well, there is one, but they are new so let’s wait and see.

(to be continued…)

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