How to select right forex broker

Today forex operations is door to door with the bloom of internet facilities and broker system. But in the 90's century it is not easy for participating individual in the  forex market due to large transaction costs. After that USA's regulating body CFTC passed bill and start brokering and online forex participating over the world. Now broker is doing on your favor forex trading by execution your orders within mini second.

                                                              Broker types

1. Dealing Desk  :

• DD forex broker earn money form spread offering to their clients. They send orders to the liquidity providers for their clients.

 2. No Dealing Desk :

• STP broker : Straight through processing system. They send clients order to # Banks, Hedge funds, Mutual funds,other brokers, other clients.
• ECN broker : Electronic communications networks. This type of broker sends orders for their clients through several market participants.Thus they are tight spread and they do not trade against clients.They earn money by small commission per transactions.

Now the question which broker or what type of brokers you should be chosen? Yeah lets answer as this are you a scalper or day trader? If you are a scalper you need to tight spread for small profit this is easy in forex market.Day trader may be not worry widen spread since they are positioned or swing trader for long frame.
Now turn on the facilities of these brokers.

DD facilities:  1 .Fixed spreads. 2. Trade against you. 3. Quotes are artificial. 4. Order filed by the broker etc.
STP facilities : 1. Variable speed 2. Trade between clients and liquidity providers 3. Price come from liquidity providers 4. Execution automatic or no requote.
ECN facilities : 1. Variable spread or commission fees 2. Trade between clients and liquidity providers or other clients 3. Price come from  LP or other ECN 4. Execution automatic or no requote.

Think where your broker is regulated?

USA: NFA and CFTC

UK : FSA

Australia : ASIC

Swiss : SFBC

Germany :BaFIN

France : AMF

Make sure that Your broker has either tight spread or small transaction cost.

Make sure you can deposit and withdraw money any time and smoothly.

Make sure that trading Execution is automatic.

Make sure that customer service is good.

Make sure that trading platform is vary e.g mt4 or mt5 or mobile trading etc.