The following is a list of questions you may like to ask yourself,
your broker and other traders about a particular firm you have in mind.
You can use this checklist to narrow down your selection of forex companies to fit your requirements.

1. Word of Mouth

What do other traders say about the broker?
What is their customer service/dealing desk like?


2. Safety of Funds

Is the broker regulated?
What regulatory organisation are they registered with and what
protections does this afford you?
Are client funds insured against fraud at the firm?
Are client funds insured against bankruptcy of the firm?


3. Execution

What business model do they operate? i.e. Market Maker, ECN or NDD?
How fast is their order execution?
Are orders manually or automatically executed?
What is the maximum trade size before you are put on manual execution?
Are all clients trades offset?


4. Spread

How tight is the spread? Is it fixed or variable? Is it larger for mini accounts?


5. Slippage

How much slippage can be expected in normal and fast moving markets?


6. Margin

What is the margin requirement? e.g. 0.25% (max 400:1 leverage), 0.5% (max 200:1 leverage), 1% (max 100:1 leverage), 2% (max 50:1 leverage), etc.
Does it change for different currency pairs or days of the week?
Is it the same for standard and mini accounts?


7. Commissions

Do they charge commissions? (Most market makers commissions are built into the spread, whereas ECN's charge a small fee)


8. Rollover Policy

Is there a minimum margin requirement in order to earn rollover interest?
What other requirements or conditions are there for earning rollover interest?


9. Trading Platform

How reliable is it during fast moving markets and news announcements?
How many different currency pairs can you trade?
Do they offer an Application Programming Interface (API) for automated trading systems?
Does it offer any other special features? (e.g. One click dealing, trading from the chart, trailing stops, mobile trading etc.)


10. Trading Account

What is the minimum account opening balance?
What is the minimum trade size?
Can you adjust the standard lot size traded?
Can you earn interest on unused equity in your account?


More about brokers

Recommended Brokers
http://www.actionforex.com/contentcategory/
recommended_forex_brokers

Different Category of Brokers
http://www.earnforex.com/forex_brokers.php

Brokers Review
http://www.forexpeacearmy.com/public/forex_
broker_reviews

E-Gold Brokers
Click here for list of Forex brokers which offer e-gold payment system as an option for funds deposit and withdraw http://www.earnforex.com/e-gold_forex_brokers.php