Forex Brokerages are so completely different in their practices, trade executions, schedules, customs, allowances, fees, commissions and in almost every other way that the newbie trader can quickly be drained of their resources regardless of how their trades pan out.

Choosing a brokerage is critical to your trading success, so it deserves very careful consideration.  The first thing a newbie should do is simply “Google Search” the phrase: “Forex Brokerages”, then grab some snacks and refreshments as you go through them one-by-one and, read the fine print carefully.

Make a list and write out the benefits for each.  Then search each of the brokerages on your list (look for discussion groups and join in by asking about other people’s experiences with specific brokerages).

This will give you a good ‘feel’ for the ones not-to-trust, and hopefully, for the ones you can.

Any worthwhile brokerage will offer prospective new clients a “Dummy” account where you can see how the forex brokerages’ software performs using money that doesn’t exist.  This will allow you to get a picture of how the brokerage and its services can benefit you.

Once you find a brokerage that doesn’t rob you blind, you can begin the long arduous exercise in futility called “Forex trading” (or FX trading), or you can do what I did—let a robot do all of your trading and spend your time spending the money it makes for you.  That’s what I call trading; I spend maybe 2 hours a month (all at once) with my ‘little money maker’—and the rest of the time I actually get to breath free of the stresses of manual (antique) trading.

There’s a banner link below for the one that gave me a whole new perspective on trading.  Take a look for your self:

A last bit of advice:  Take your time going through Forex Brokerages, it’s probably the second most important factor in Forex trading profitability.

Wishing you success in all of your trades!

Walker Geist

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