Start with regulation and account entity
The first filter is not the logo, app design or bonus. Check the legal entity that will hold your account, the regulator supervising it, the client money rules and whether negative balance protection applies in your country.
Forex and CFD rules vary by jurisdiction. A broker may be strong in one region and offer a different product set, leverage limit or protection scheme in another.
Compare real trading costs
Do not compare brokers only by advertised minimum spreads. Review typical spreads on the pairs you trade, commissions, swaps or rollover, conversion costs, inactivity fees and withdrawal terms.
Model the cost around your own behavior: pair, trade size, session, holding period and account currency. That gives a better answer than a generic fee table.
Check platform fit before funding
Open a demo or preview account and test order tickets, stop-loss placement, charting, alerts, watchlists and mobile execution. A platform should make risk visible before you click buy or sell.
Understand product type and leverage
Know whether you are trading spot forex, CFDs, futures, options or another margin product. Product type affects pricing, risk disclosures, leverage, tax handling and client protection.
Use a final broker checklist
- Is the broker regulated by the entity that will serve your country?
- Are spreads, swaps and non-trading fees clear?
- Does the platform fit your trading workflow?
- Can you explain the product type and leverage risk?
- Would the broker still make sense without a promotion?