Things to Look For In a Good Forex Broker.

Here are some things to look for in a good forex broker.

Can you contact the company?

Does the company provide multiple ways to contact them?

You want to make sure your broker is there when you need to ask a question or have a problem.

• Does it have a phone number?
• Do they have an email address?
• Does it have a live online chat?
• What are its customer support hours?

It’s not enough to see all three listed on their website. Just because it looks like there are multiple ways for you to get in touch with the broker doesn’t mean it’s true.  Verify that they all actually work and it’s not just for show.

Call the phone number. Does somebody pick up quickly?

Send an email. How long does it take to receive a reply? (Automated replies don’t count.)

Start an online chat. Does it work? Or are you simply asked to send a message by filling out a form?

If the online chat does work, are you talking to a chatbot or an actual human?

What are their customer support hours? Is their support staff available 24 hours a day, 5 days a week?

You can also test how good their customer support is by opening a demo account. Once you’re logged in to their demo trading platform, send them a question using their support feature.

Since you’re a potential new customer who may open a live account, they should be responsive. If not, it should make you wonder how their support will be once you’re already a customer.

A reputable broker should have a dedicated support team that can answer your questions. In a live trading situation, phone access or live online chat is a must since an email reply may take days.

At the end of the day, you want to make sure that the broker will be there for YOU when you need them.

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