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Choosing a reliable forex broker can be overwhelming, especially with so many brokerages out there luring you in with their enticing offers. In this article, we will outline 3 criteria we consider the most essential when selecting the right forex broker. After all, you're entrusting your well-earned money to a company, expecting it to provide you with honest and transparent financial services. So, let's get into it.

1. Regulatory compliance

Regulation is the first thing you should look into. The broker must have a license to provide financial and brokerage services and be regulated by a supervisory authority. If your broker's activity isn't regulated, it can basically do as it pleases with your funds. The activity of a reliable broker should be governed by an official regulator responsible for handling any disputes and trade claims that may arise between a trader and the brokerage. 

A flashy website does not guarantee that your broker is trustworthy. Check out the broker's "About us" section and make sure that your broker is duly regulated. To cut it short, if you want your interests to be protected and your money to be safe - a regulated broker, such as AMarkets, is your first choice. AMarkets is an international forex broker that has been providing trading and investment services for over 15 years. Its reliability is confirmed by dozens of international awards and an excellent rating on TrustPilot - 4.7 out of 5. 

2. Deposit and withdrawal

Speedy and hassle-free deposits and withdrawals are the next essential criteria. The more payment methods your broker offers, the better. A reliable broker has no reason to make it hard for you to withdraw your profit. A wide range of payment options - via bank cards, wire transfers, e-payment systems, and withdrawals in local currency - means that the broker is dedicated to making the withdrawal process as smooth and convenient as possible.

3. Trading conditions

Consider a broker that offers the best execution speed. Narrow spreads and a trading platform that works seamlessly without interruptions are also crucial. And last but not least - a wide selection of financial instruments to trade. Ideally, your broker should offer all types of assets, including currency pairs, indices, stocks, bonds, commodities, such as oil and gold, and cryptocurrency

Final thoughts

Choosing a trustworthy forex broker is by far the most important decision as you embark on your trading journey. Apart from the three most important criteria we've mentioned above, you should also consider things like a demo account to backtest your trading strategies, a user-friendly mobile app that lets you trade on the go, round-the-clock customer service, high-quality educational materials, trading recommendations and analysis from market experts, attractive bonus offers, promotions and contests for clients. If your broker has all that, you can be confident that interested in your trading success. Pick a broker that meets all these criteria, and you'll be in good hands. 

Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. There is a possibility that you may sustain a loss of some or all of your investment. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. Please note that AMarkets does not provide services to citizens and residents . AMarkets Ltd and its affiliate do not target EU/EEA/UK clients.

Editors’ Picks

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EUR/USD hangs near two-week low, below mid-1.0800s ahead of Eurozone PMIs

The EUR/USD pair prolongs its recent corrective slide from the vicinity of mid-1.0900s, or a four-month high touched last week, and remains under some selling pressure for the second straight day on Wednesday.

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GBP/USD drops to two-week low, bears await break below 38.2% Fibo. level

GBP/USD drops to two-week low, bears await break below 38.2% Fibo. level

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USD/JPY extends losses below 155.00 after facing rejection at 156.00

USD/JPY extends losses below 155.00 after facing rejection at 156.00

USD/JPY is extending losses below 155.00 in the Asian session on Wednesday, following a brief test of 156.00. Expectations of a BoJ rate hike combined with broad risk-aversion help the Japanese Yen regain the upper hand while the US Dollar consolidates ahead of PMI data. 

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Editors’ Picks

EUR/USD hangs near two-week low, below mid-1.0800s ahead of Eurozone PMIs

EUR/USD hangs near two-week low, below mid-1.0800s ahead of Eurozone PMIs

The EUR/USD pair prolongs its recent corrective slide from the vicinity of mid-1.0900s, or a four-month high touched last week, and remains under some selling pressure for the second straight day on Wednesday.

EUR/USD News

GBP/USD drops to two-week low, bears await break below 38.2% Fibo. level

GBP/USD drops to two-week low, bears await break below 38.2% Fibo. level

GBP/USD remains under some selling pressure for the second straight day on Wednesday. A combination of factors lends support to the USD and drags spot prices to a two-week low. The technical setup warrants caution for bears and before positioning for additional losses.

GBP/USD News

Gold stays hopeful above $2,400, as US PMI data loom

Gold stays hopeful above $2,400, as US PMI data loom

Gold price is looking to build on the previous rebound above $2,400 in Asian trading on Wednesday, despite a buoyant tone seen around the US Dollar and the US Treasury bond yields. Gold traders now look forward to the global preliminary business PMI data for fresh trading impetus.  

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PEPE price poised for a rally after retesting trendline support

PEPE price poised for a rally after retesting trendline support

PEPE price broke out of a descending channel pattern, surging by 12%, but is experiencing a corrective pullback, trading 2.3% lower at $0.0000121 as of Wednesday. On-chain data reveals PEPE's Long-to-Short ratio stands at 1.66, hinting at potential upcoming rallies for the cryptocurrency.

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Bank of Canada: Rate cut expected; forward guidance eyed

Bank of Canada: Rate cut expected; forward guidance eyed

The Bank of Canada will take centre stage at 13:45 GMT. Alongside the rate decision, the central bank will deliver the rate statement and the Monetary Policy Report, released quarterly and providing investors with a glimpse of what the central bank expects in Q3.

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