There are hundreds of reviews online for hundreds of brokers. Some say the broker is a scam, while others say it isn't. Some say to go with an ECN, while others say that an ECN has much higher spreads.

Who do you listen to? I'm not about to drop $10,000 into an account where there is a possibility of being scammed. But then again I'm trying to make money to support my family and searching for a "decent" broker is taking me weeks.

Too bad forex isn't like the stock market, where there are actual REGULATIONS!

Any help would be appreciated. Thank you.

Answer
With Online brokers its hard to find out about their validity/registration.That said, where does it leave shareholders of the AIG, Walmart and presently GM? The risk is everywhere.

The solution is that while we do trade through a broker, we are constantly and actively aware and "manage our accounts" and finance on our own.
I have been trading forex and stock for close to four years now.

How to select forex broker?

I want to know what things are necessary to check before going to open an account with Forex broker? Please also suggest me some good forex broker.

Answer
Here's a good article of things to consider when considering a forex broker.

http://www.forexf1.com/forex-broker-comparison.php

Comparison of Forex brokers
http://www.forexbrokercomparisons.com/

http://www.goforex.net/forex-broker-comparison.htm

http://www.forex-learning-site.com/forex-broker-comparison-reviews.php

Just type "forex broker comparison" into Google and you'll get lots of answers.