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FXpromo helps you compare and choose your preferred Forex Broker. When you think you are ready to start trading currencies, you need to search a reliable Forex broker. First, we should try to know exactly what is a Forex broker. A Forex broker is a firm or company that provides FX traders with access to a trading platform that enables them to buy and sell foreign currencies. Currency traders utilize these brokers in order to access the 24-hour Forex market. A currency trading broker, often referred to as a retail Forex broker, handles a very small portion of the overall volume of the foreign exchange market. FX brokers are mainly compensated through the 'bid-ask spread' of a currency pair. We suggest keeping the following checklist in mind when making your decision: