One of the easiest and quickest ways to find a Forex broker is by contacting your
local licensing authority.They are responsible for issuing brokers their licenses so that they can be in business. If a prospective broker does not have a license, avoid dealing with them. Avoid the scam artists who pose as brokers and offer fantastic deals that sound too good to be true. Start out cautiously so that you don't get taken advantage of before you get some experience.
Brokers Build Reputations
Good or bad, Forex brokers build reputations that can be uncovered either by doing research online, by word of mouth and by contacting governing authorities to see if any complaints have been lodged. You can also consult other traders to see if they have any recommendations that you can research to find a good broker.
Protect Yourself
The Forex broker you decide to deal with should have safeguards in place to protect their clients. You will want to check and see if they are regulated and by whom. In addition, see what kinds of financial protections are in place against fraud and bankruptcy.
Take Advantage of Free Trial Offers
Many good Forex brokers will offer you the chance to participate in trial trading for free. This "play" money will give you a chance to see how the Forex trading system works without you risking any of your capital. If you profit, you don't actually get any money, but it is a safe way to get your feet wet. Forex brokers will sometimes offer training videos and will work with you one-on-one to guide you to successful trading. Service and communication are essential, and through a free trial you can see how the prospective company treats customers and how they operate.