1. Compliance first depends on whether there is a regulatory agency in the country where the brokerage firm is located and whether it is registered with the regulatory agency. Legal compliance is very important, which can protect the rights and interests of investors to the maximum extent. In the United States, reputable foreign exchange brokers can only become members of the National Futures Association (NFA) and register with the Commodity Futures Commission (CFTC) as commission traders or retail foreign exchange brokers. As NFA members and CFTC-supervised brokers, they all have a specific NFA membership number, just like each of us has an ID card, which is proof of legal identity. Looking around the world, authoritative regulators include not only NFA in the United States, but also FCA in Britain, ASIC in Australia, FINMA in Switzerland, FSA in Japan and MAS in Singapore. To choose a brokerage account, we must first choose a platform supervised by an authoritative organization.

2. Account details. When opening an account, the first thing to pay attention to is leverage and margin. Usually, the leverage provided by foreign exchange brokers is 100: 1, or even 400: 1. The latest leverage requirement of FCA supervision platform is 50: 1. Then there is the threshold of funds. Some platforms have very low initial capital requirements and can be traded at 100 USD. Jiekai financial foreign exchange platform has a minimum of $2,000. Then there are spreads and overnight interest. The spread is the difference between the buying price and the selling price, and the overnight interest is the difference between the local currency deposits of the two countries. It is suggested that you choose a platform with low spread, which can reduce transaction costs. Finally, the convenience of deposit and withdrawal. Because the premise of trading is to deposit their own money in the platform account, each foreign exchange broker has specific rules for accessing funds. Customers can usually deposit and withdraw money by credit card, PayPal, wire transfer or bank check, and the shorter the deposit and withdrawal time, the better. Generally speaking, deposits can be received immediately, while withdrawal takes 7- 10 working days.

3. Provide currency pairs. Although there are many currencies in the market for us to choose from, for beginners, currencies with better trading liquidity will be more suitable. Such as USD/JPY, EUR/USD, USD/CHF, GBP/USD. Therefore, brokers who can provide more kinds of tradable currencies are also important reference factors. The trading platform is the gateway for investors to contact the market price. So when we choose a platform, we should also consider the following points: which platform is better to use and has better visual effects? Is it equipped with various technical and basic analysis tools, and provides real-time and historical data, which is convenient for us to access all order types for trading foreign exchange? At present, the most common platform on the market is MT4, and most brokers also provide free simulation accounts, so that you can open a simulation account to test the water before opening an account.

5. customer service. Foreign exchange transactions are conducted around the clock. A high-quality foreign exchange broker should be on standby like a convenience store. When traders need help, they can deal with account problems in time and provide technical support. Therefore, a high-quality brokerage platform will provide e-mail, telephone, social media or real-time chat to quickly respond to customer service requests and ensure personalized response and personal tailor help as much as possible.