“If there is smoke, there is a fire”. Before choosing a broker, do your own research regarding their reputation. Even if a broker is regulated, it does not mean that they are good for you. Search for news related to the broker. Check if there are any pending legal cases against the broker listed in any news site or if there are officially complaints initiated by their customers. Just search for the broker and add after the broker’s name “legal issues” and search for news. If you cannot find anything then you can go ahead and consider opening an account. Reviews websites and forums are another great source but have in mind that many of the comments and reviews are fake since brokers in their efforts to increase their reputation filled the internet with these fake comments and reviews.