Tip 3: How to choose a forex broker

It’s a good idea to use more than one forex broker

When a beginning investor opens his or her first account, it is best to do so not just with one broker but with three or so.
This is because, for example, it is common that a forex broker’s chart might not move.
You might be able to spot such a case by looking at another forex broker’s chart.
You also can trade with one broker while looking at the chart of another.
For example, if you have a long position with one broker but want to take a short position in response to a rapid drop in exchange rates, and are unable to do so because the broker’s system does not move quickly enough, you can take a short position with another broker.
I think in most cases it is a good idea to open accounts with three or so forex brokers.

The broker needs to provide careful customer service!

When making trades, in cases such as when things do not go as planned or you are not sure how to conduct a special type of transaction, the only way to figure out the problem may be with a telephone call.
The broker should provide careful instructions such as which button to press when you make a call.
In the end, starting with a forex broker who provides attentive and detailed instructions is recommended.

Once you get used to the markets you will understand how they work, and then you can trade with other forex brokers as well.

Eight tips for Forex trading in Japan