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Before making a choice for a broker be careful for few things:

• Verify where is registered the company (the most companies are registered in off shore zones)
• Check if you find details about the company, physical contact address (not PO Box)
• Check if someone answer to a call and what kind of informations is giving
  

• Check if is acredited and regulated by a trusted authority (like NFA)
• When you deposit money to a forex broker, be careful where you deposit money to discover that not reached the right place. Generally prefer wire transfers that do not find that pulling the card more than you paid to cover margin excuse.
• Better start with a demo account or smaller amount to understand very well how it works and if have bugs or strange things on the platform
• Research on the forums and searching engines about the details and comment left by others

Be aware that trading scammers are everywhere on the web. They will appear to be a legitimate business. They will be pleasant and well spoken. Their leaflets, emails, letters and order forms will often look professional or official. Scammers are persistent and persuasive and try to rush you into making a decision. They may also target junior employees who may be less aware of the existence of scammers.

List of few Forex brokers, who are registered with NFA:

National Futures Association (NFA) is the industry-wide self-regulatory organization for the U.S. futures industry. NFA’s mission is to provide innovative regulatory programs and services that ensure futures industry integrity, protect market participants and help its Members meet their regulatory responsibilities. NFA’s activities are overseen by the Commodity Futures Trading Commission (CFTC), the government agency responsible for regulating the U.S. futures industry.

By: Nial Fuller

Risk management is a topic that many forex traders do not take seriously enough. In fact, risk management is probably the single biggest factor that is over looked amongst forex traders and this is the biggest reason why 95% of them fail to make money over the long term. The reason that so many traders ignore managing their risk or developing a risk management plan is simply because they don’t feel like they need to. Many forex traders think that their system or their trading method is so accurate that they don’t need to manage their risk because they believe they will win on a very large percentage of their trades. The truth is that this is a false belief and it is simply emotional trading and illogical thinking as a result of fear and or greed. Professional forex traders understand that at best they will win on 60-70% of their trades, they understand they will lose on any where between 30-50% of their trades. If you knew you were going to lose something 50% of the time why would you not manage your risk? The simple answer is because novice forex traders do not understand the concept of position sizing and they are trading based off emotion.