Choosing a broker is the single highest-leverage decision you'll make before your first trade. Here's the order of operations we use ourselves.
1. Regulation is a filter, not a factor
Weigh regulation seriously against tighter spreads, not as an afterthought. Confirm a broker holds an active, verifiable licence from a recognised regulator (CIRO, ASIC, the FCA, FSCA, FSA or FSC) before anything else — if it doesn't, walk away regardless of the pricing on offer. Everything below assumes you're choosing among genuinely regulated brokers; see our regulator guide for how to check.
2. Match the platform to your style
Running Expert Advisors? You need MT4 or MT5 — see our platform comparison. Discretionary chart trader? VT Markets' and Axi's TradingView integration layered on top of MetaTrader execution may serve you better.
3. Price for how you actually trade
Scalpers and high-volume traders should compare raw-spread-plus-commission accounts. Swing traders should compare swap rates first — overnight financing usually dwarfs the spread over a multi-day hold.
Related broker reviews
Want to compare your options in more depth? Read our full VT Markets review (9.3/10) and StarTrader review (9.1/10), or see how they stack up head-to-head in our VT Markets vs StarTrader comparison.
4. Check the funding rails
Confirm your preferred funding method (card, wire, e-wallet or crypto) and realistic withdrawal timelines — our funding guide covers all six.
5. Test on demo like it's real
Two weeks minimum, at the position sizes you'll actually use. You're testing execution, platform stability and support responsiveness — not your strategy.
Red flags that end the conversation
- Deposit bonuses offered to Canadians (prohibited — the broker is offshore)
- Leverage offers of 200:1+ (same signal)
- Pressure from an "account manager" to deposit more
- Withdrawal fees or delays reported consistently in reviews