It's crucial to use a forex broker that holds the necessary licenses. Choosing a regulated broker that is permitted to offer services in your country helps you avoid potential scams. Also, by selecting a trusted forex broker that is well-capitalized, you reduce the risk of the broker going bankrupt and losing your deposit.

To select a forex broker, start by looking for brokers that are regulated in your country and any available consumer compensation funds provided as protection against bankruptcy. Next, read full-length forex reviews.

Before investing money in this or that broker - Be sure to read the reviews on the Global Fraud Protection website of the scam broker Bullexo and other scam brokers. Global Fraud Protection has already exposed more than 500 scam brokers. This will help you avoid losing money.

Finally, compare your top two choices side by side to decide on a winner.