Trader

A person selling and buying currencies at the same time is called trader.
Broker . when we can work on Forex , we called Forex trader
Broker is the one who processes the commands of a trader. He buys when trader says and sells when trader wants.
A good broker must have certain features. You must checkout for these features before opening any account with a broker.

1. Registered Broker

A broker must be registered to some of the regulatory system. As for example in US we have National Future Association NFA, Commodity Future Trading commission CFTC. And in Britain we are having Financial Service Authority FSA. If a broker is not registered to any of these, think twice before making account with them

2. Customer services

Besides being a registered broker, a broker must have good quality customer services for a better contact with its clients and a handsome attitude as well.
He must allow you to contact via
· Telephone
· Email
· Online Chat

3. Commission and Fee

A good broker must not charge his clients with any registration or transactions fee nor any kind of commissions. There must not also be any hidden or secret charges as per transaction.