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Generally, there are five major factors to consider when choosing a broker and they are:

1. Level of regulation: You need to know if the broker is subject to the regulations of the Central Bank of Nigeria and if they operate accordingly. A lack of regulation should be a red flag and set off alarm bells in your mind.
2. Trading platform: How does the trading platform look? Is there a registration number on the website that can be verified? Is a demo account available where you can test strategies and other account features?
3. Currency pairs being offered: What kind of currency pairs does the broker have on offer? Is it just the minor pairs or exotic pairs that have low liquidity? Are major pairs that have high liquidity and are more profitable available?
4. Account features: how are charges and commissions deducted and what are the percentages? What kind of leverage and margin accounts are offered? And what are the terms of deposit and withdrawal? 
5. Customer service: Is the customer service reliable? Can they provide succinct answers to your inquiries?

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Because, prizes obtained from a trading contest usually are easier to withdraw, so it's more reliable than other bonuses.

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There are two steps you may take to avoid falling prey to artificial slippage:

1. Steer clear of stop orders and make use of limit orders instead.
2. Add decreased slippage parameters to your expert advisors (in case you are using EA).

Continue Reading at Can ECN Brokers Cheat on You?

These brokers have been selected based on a comprehensive analysis of various factors, ensuring they provide a well-rounded and beneficial trading experience for Indian traders:

1. Interactive Brokers: Has a physical office in Mumbai.
2. Exness: Support Hindi language.
3. XM: Support local bank transfers.
4. Admirals: Has local phone number and e-mail.
5. FP Markets: Support deposit using INR.
6. HF Markets: Offer promotions and bonuses for Indian clients.

Continue Reading at Top Forex Brokers in India