All About Most Reliable Forex Brokers

Forex market provides one of the most interesting and biggest financial investment opportunities. You can buy and sell major currencies and make profits out of the difference in exchange rates. The best thing about forex trading is you can trade online from any location. If you are new to trading and want to become the best forex trader, then it is advisable for you to learn the basics first. There are plenty of reliable forex trading broker websites that will provide ample training, guidance, and demonstrations to equip you before you begin trading with real money.

About Forex Brokers

Trading is typically carried through a forex broker. Foreign exchange brokers also known as market makers are professionals who help you trade. Therefore, you will need a reliable agent who works in your best interest. Selecting a broker out of over 100 forex brokers is crucial to a profitable trading experience, and hence you need to make your choices very carefully. Almost every online forex broker offers bonuses for new traders. Some might be so attractive that you simply want to grab them. However, it is your responsibility to understand the difference between the types of bonuses and promotions available before accepting anything.

Responsibilities of a Broker

A forex broker has certain responsibilities towards clients. He should not merely focus on making commissions, but offer the right advice to you. Some of the top forex traders ensure safety and security regarding your deposits, software and the information you exchange. It is the responsibility of the agent to provide downloadable trading platforms. He should offer several account types, low spread, and sufficient leverage. Your agent should also provide the best technical and customer support during the market hours either through phone, email or online chat. The best forex trading broker is one who can provide good charting software and services.

Most Recommended Reliable Forex Brokers

Broker Min Deposit Spread Leverage Regulation Open Account
HYCM Forex Broker $100 From 1,5 Pips 1:400 FCA UK (#186171), CySEC (#259/14) Visit Broker
FBS Markets Inc forex broker $1 From 0 Pips 3000:1 IFSC Visit Broker
xm best forex broker $5 From 1 Pips 888:1 ASIC, CySEC, FCA (UK), BaFin, CNMV Visit Broker
Pepperstone review best forex broker in Australia $200 Starting 0 Pips 500:1 ASIC Australia Visit Broker
FXOpen ECN Broker $300 floating, from 0 pips 500:1 FCA UK reference number 579202 Visit Broker
octafx forex broker review $5 From 0.2 Pips 500:1 FSA (Saint Vincent and the Grenadines), FCA UK (#679306) Visit Broker
plus500 best forex broker review €100 The Spread can be as low as 0.01%” (0.01% = spread for EUR/USD) 1:294 ASIC, CySEC, FCA (UK) Visit Broker
ava trade best forex broker $100 Starting From 0.9 pips 400:1 MIFID, FSB & ASIC Visit Broker
ETX CAPITAL Forex Binary Options SpreadBetting Broker $100 From 0.7 pips 400:1 FCA UK reference number 124721 Visit Broker
etoro best forex broker USA $200 From 3 Pips 400:1 NFA, CySec Visit Broker
TickMill best Forex broker review $25 Starting 0 Pip 500:1 FCA UK and FSA (Seychelles) Visit Broker
exness forex broker review $1 From 0 Pips 2000:1 CySEC, FSP, BaFin, CRFIN Visit Broker

Features Your Broker Must Offer

forex trading marketThe success of your trading largely depends on upon the features that a broker offers. Some of the top 10 forex brokers offer the best features to their clients. These include technical and fundamental analysis, trading platform, training and education and free demo account. Under each of these categories, the features may again vary. The forex brokers list is a good reference for you to pick up agents who have the reputation for providing the best features to traders. However, before you select the right agent, it is advisable to go through the Forex brokers rating to understand where each broker stands regarding the quality of services.

Forex brokers have the necessary experience and knowledge to trade on the Foreign Exchange Market, being often hired on a commission basis by those who want a piece of the profit. If you are interested in investing and trading on Forex, then you should search for a reputable and reliable broker. You can also think about finding the best options broker and inquire about your trading options.

Forex is all about trading currencies, and millions of people from all over the world engage in online trading every day. Finding Forex brokers to do all the trading for you and offer valuable information about the FX market is not difficult, particularly if you take your time and use the right resources. The Internet is a great resource, even if you are new at trading, or you have years of experience in the FX market. Not only can you find someone who is a genuine professional when it comes to buying and selling of different currencies, but there is always the opportunity of locating the best options broker. Such a professional can tell you all about stock trading and introduce you into a world where money spins at an incredibly fast pace.

If you have any knowledge regarding Forex, then you know that this is one of the largest markets in the world and one of the most profitable. Important profits can be made but only by someone who has a fairly good knowledge when it comes to trading currencies. Forex brokers deal with such requests all the time, knowing when to buy and when to sell, thus obtaining nice profits for their clients and earning their commission without any problems. As for the best options broker, this specialist will introduce you to online trading and present you with everything you need to know regarding executing trades, margin requirements and stock trading in general. You just have to search for a professional company and choose their best man to outline potential market strategies for your trading needs.

It is true that there are many Forex brokers out there and just as many companies putting such experts at the disposal of interested customers. How do you know which one is the best? Performing a thorough search on the Internet will lead you to the finest Forex brokers and also to the best options broker you can find. A specialist in options trading is exactly what you need to succeed. Not only does he know how to offer essential information on the subject but he will provide assistance when it comes to a wide range of activities that are related to options, including stocks and mutual funds. Anyone who pays attention will have a lot to gain from hiring the best options broker.

Whether you are interested in choosing one of the professional Forex brokers, or you want to find the best options broker, one thing is certain. You need someone who is dedicated to achieving your goals, a professional with years of experience in the field of trading and an expert when it comes to helping others. If you find a broker ready to promote growth, to trade to your benefit and always prepared to act as a professional financial advisor, then you will know that you have made the right choice.

Deciding On Reliable Forex Brokers

If you are a new entrant to the field of Forex trading, the first thing that you should do is to select a broker from the Forex broker list that is available.

A person can only do trade through a qualified broker as he/she cannot directly indulge trade on the market. The entire system is run by brokers, whether a person uses an online platform for trading or deals directly with a broker.

Hence, choosing a broker with whom you are comfortable with becomes essential. In the modern day rat race, it may be hard to find a broker who is humane.

The information age has made everything more convenient, and this includes trading in Forex markets. While there’s a lot to be said for this method, there’s nothing like having a broker whom you can call just in case you run into some trouble. If you’ve found a broker who will make himself available to you, you’re already ahead of the game.

A reliable Forex broker can also be identified by studying the type of systems that he/she offers in his/her platform. Online tutorials are a necessary requirement to guide a person who has just newly entered the Forex market.

Many forex brokers can assist by providing tutorials that contain useful information, video clippings and also text documents that you can download. If there is no doubt in your mind about the business you are entering you are ready to make a start immediately.

If you’re an old hand at trading in the Forex market, you should try to find a broker who offers advanced trading tools. Such could end up saving you a lot of time if you’re very familiar with the platform you’re using. But if you’re a beginner who intends to become a more advanced trader, it never hurts to find such a broker, for such indicates that the platform you use can grow with you as a trader.

Make sure that there are no hidden fees in the platform you use. Some brokers charge you a fee whenever you add or subtract money to and from your account, so try and find one who doesn’t. This could end up saving you a lot of money that you can reinvest back into the markets.

Benefits Of Choosing Right Forex Broker For You

most reliable forex brokersAre you into forex business looking forward to earning maximum profits based upon value and timing? Then, it is necessary to choose one of the dedicated professionals by performing a detailed forex brokers comparison offering you best results in time. Advanced Forex broker comparison software is available to you one, which saves you more time for sure. Instead of preceding upon your currency trading opportunities, it is necessary that you schedule the same to obtain best results by the diverse needs you. Experienced forex brokers are known to provide you ultimate services without compromising with the standards in any manner.

Faster Trading Of Currency Pairs With Stable Internet Connection

Forex brokers are thorough professionals who are well aware of the requirements of customers in an extensive manner. They understand the urgency to trade currency pairs in a dynamic fashion because of which they have high-speed internet connection always. Excellent performance in the forex market is possible to you once you go through such features in detail online. Handling the most suitable currency pairs as per the given situation by varying your combinations is best possible to you by being in tandem with the latest business trends in an effective way.

Minimum Commissions Charged For The Services Offered

Thinking that forex broker operate with fixed charges on the financial services they offer will lead you to a grave mistake. With increasing competition in the field due to more brokers venturing into the business, the forex experts are known to charge more in the form of commissions as well. Calculating the right amount in this regard after online broker comparison will let you maintain maximum profits accordingly. Having more information about how a broker could be of immense help to you too is something that you need to focus upon.

Ready Access To Regulated Forex Brokers With A Reputed Agency

Instant Forex broker services could be realized these days perfectly with the consideration of multiple features in a diverse fashion. Dedicated services obtained in the case of forex brokerages too will let you maintain the perfect features with constant results obtained with ease. Learning more about the importance of forex brokers comparison in detail too will let you come across more benefits in the long run. By comparing eligible brokers for forex trading as per your personal preferences, it is possible to earn more profits in a less span of time.

Maximum Knowledge About Latest Currency Trends

Reliable performance in the forex market is necessary with the active consideration of online broker comparison with ease. Valuable resources are available to you always in this regard due to which you get to realize maximum benefits with ease. Minimum brokerages charged against the forex services offered to you will help in choosing the concerned broker services according to your latest needs. Securing your personal financial condition with active operations is possible on a strategic basis with ease. Compare brokers’ performance as well in recent times so that you could get along the one fetching you more profits.

Thanks to forex brokers, generating a sizable income by trading currency pairs can be easy. Brokers are individuals or companies that provide assistance to those who want to enter the foreign exchange market. They make it easy for these folks to learn the nuts and bolts of trading forex. So if you’re looking to test your skills in this competitive but lucrative financial market, you’re going to need the assistance of a reliable FX broker.

So what can a forex broker do for a new trader like you? First and foremost, you’ll get a good education from an experienced foreign exchange broker. As you may know, education is one of the foundations of success. A good broker can show you the ropes of trading currency pairs by providing you with free educational resources. They can also provide you with learning materials that you’ll find extremely helpful, especially if you are just starting out. By learning from the best in the business, it will be much easier for you to make your mark in the forex market.

You can also get free demo accounts and bonuses from forex brokers, especially if you are a beginner. These demo accounts can help you get used to the trading platforms used by experienced traders. Although you can directly jump into the foreign exchange market and gain valuable experience, taking advantage of these demo accounts and bonuses can help ease your way into the market. This way, you can avoid making bad decisions and losing all of your starting capital.

If you’re not too fond of the idea of spending an entire day in front of a computer, then you’ll need to find a forex broker fast. Brokerage firms offer commissioned trading. For a small portion of your profits, they will manage your account and trade for you. Because they will get bigger commissions when you make bigger earnings, you’ll get the guarantee that they will do their best to improve your income.

This particular service is a great advantage for those who have day jobs. You can spend your usual day at the office and earn money trading currencies at the same time. Also, commissioning forex brokers to trade on your behalf allows you to spend more time with your friends and your family.

But before you sign up for the services of Forex brokers, make sure that you have done your research. As you may know, some individuals might be looking to take advantage of your inexperience. To avoid a bad experience, make sure that the firm or person you’ll choose is duly authorized by the local regulatory commission to provide brokerage services.

Thing to Consider When Choosing a Forex Broker

The first particular step to your successful trading is to choose a Forex broker. There are many questions that must be answered before you are able to decide responsibly. Brokers’ revenue and available information will not facilitate this decision. Below you will find information on the basic issues you may encounter when choosing a Forex broker and how to overcome those issues.

You cannot move forward without a Forex broker, and choosing the right one is essential and highly important. This is the reason why this topic is one of the most discussed throughout Forex forums.

Before you start trading Forex, you need to set up an account with a broker. The broker is essentially a mediator, individual or company that buys and sells orders according to the retailer. Brokers profit either from charging a fee for their services, or (and this is more often) from the spread. Considering the huge number of brokers offering their services online, it’s likely you may feel helpless and overloaded by lots of information you may do not know what to do with. And it is not easy to choose the right broker.

There are thousands of brokers, from the solid and reliable ones to the crooked and dishonest trying to pluck their clients. You should take a look on published references and stick to the advices to protect you from the sophisticated marketing brainwashing. Broker is a necessary mediator between you and the market. Its main task is to fulfill your orders to buy and sell a currency on the Forex market. Services, such as the fast transfer of money to him and back as well as a reliable platform should be standard of all brokers above the average.

When selecting parameter, it is appropriate to give preference to those that are related to your style of trading (fees, spreads, etc.), instead of peripheral ones like language support, assistance on what to buy and sell, etc.

Keep in mind one thing – before you start your search, it is good to take note of the fact that terms like “best, cheapest, most reliable, etc.” make little or no sense in the industry of Forex brokers and usually, the real interest of brokers who use those terms is solely to let you trade currencies as often as is possible regardless of whether you earn or lose money.

Criteria for selecting a Forex broker

There are several criteria that are worth considering before you fill in the registration form with a broker. Competition among Forex brokers is huge, which guarantees a neat chance for a good choice. It pays to take the time to choose a broker that will best fit your needs and you will be able to use their services for your benefit.

Regulation and References

The first thing you may want to take a look at when selecting a Forex broker is the issue of security. You have to find out if the selected broker is registered with any regulatory authority. In the United States, a broker should be registered as Futures Commission Merchant (FCM) with the Commodity Future Trading Commission (CFTC) and should be a member of the National Futures Association (NFA). The two authorities – the CFTC and the NFA are on the market in order to protect the public against fraud, manipulation and illegal trading practices.

On the website of the National Futures Association’s you can check the registration of a particular company or individual with the CFTC and the NFA. Focus on that the company you choose has a clean regulatory records and solid financial background. And watch out! It is not recommend using services of unregulated companies or individuals in any case.

Common foreign exchange controls include:

Banning the use of foreign currency within the country

Banning locals from possessing foreign currency

Restricting currency exchange to government-approved exchangers

Fixed exchange rates

Restrictions on the amount of currency that may be imported or exported

Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents. Just like depositing your money in any bank or financial institution, before you deposit with an on-line forex broker, it’s important to comprehend which regulatory body is going to be looking after your funds. In the US, the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) are tasked with overseeing off-exchange foreign currency exchange broker transactions.

As such, each forex company that is in any way involved with US traders, or is located in the US, must be registered and licensed with the NFA and CFTC. So, if you’re a US resident looking to trade forex, you should definitely inquire about a prospective forex broker’s regulation in the US before you decide to use their services.

Since the NFA/CFTC regulations regarding forex transactions are quite stringent, only a minority of forex trading brokers are eligible to accept US forex traders.

In Europe, there exist a wide range of regulatory bodies tasked with overseeing forex transactions with on-line forex brokers depending on the country.

In the United Kingdom, the Financial Conduct Authority has the mandate of regulating off-exchange foreign currency exchange trading.

In France, the Autorit de Contrle Prudentiel of the Banque de Franceis responsible for “the licensing of French financial firms and monitoring compliance by entities subject to its authority.”

In Italy, the CONSOB (Commissione Nazionale per le Societ e la Borsa) describes itself as the competent authority for ensuring transparency, disclosure and compliance by securities market participants.

Other financial regulatory bodies exist for Denmark, the Netherlands, Switzerland, and other European countries.

It’s a good idea to take a few minutes and inquire about a forex trading brokers regulatory status before you decide to use their investment services. Beyond the issue of financial regulation and supervision for on-line investors, it’s also important to ensure that the trading platforms you use and the financial transfers you initiate when conducting your forex investing with online forex brokers are secure.

The other aspect of account safety is encryption, and the physical safety of your account data against theft. Firms like XM.com, and AvaTrade take great care about these aspects of safety, but there are also many others that assume a proactive attitude to this crucial side of running a brokerage business. To aid our task, technologies like SSL-encryption are standard in the business nowadays, and if you don’t see them implemented, it is time to depart for better, more serious brokers.

Also, there are many sites on the Internet dealing with Forex and on these websites you will find references to various brokers from around the world. You may find references also here. The reputation among the clients is an important factor when deciding about the Forex broker. However, if you still want more in-depth reference and you resort to any discussion forum, always ask how the broker behaves in crisis situations, such as:

Speed

Performance of market orders in an important announcement

Stretching spreads

Extraordinary market movements

Communication in poorly filled orders, etc.

Communication with Customer

When searching for a good and reliable Forex broker for your trading, it is recommended to find out how – and especially how quickly and operatively – a broker can communicate with you. Check out all the options. That means that if the broker is able to communicate by telephone, try it. Test also how quickly he responds to an e-mail, find out if he is using Skype or other types of online communication on the Internet. Check the possibility of helpdesk. Each broker provides a solid chat today, so you should try also this form of communication. But at the same time, you should check who you are talking to when using a helpdesk; if you are talking to someone competent and not to someone who will offer you an e-mail to their technical department on every possible issue. And because the currency market is a market that operates continuously, it is good to find out if the connection with your broker can be fully guaranteed 24 hours a day.

Trading Platform

An important part of the brokers’ service is a trading platform on which you can serve your account. Many brokers use platform called MetaTrader 4 (MT4), but many others also have their own platforms including graphs and charts. From the perspective of your comfort is important that the platform meets your requirements of control and that all functions are user-friendly.

Top MetaTrader Forex Brokers

Broker Min Deposit Spread Leverage Regulation Open Account
HYCM Forex Broker $100 From 1,5 Pips 1:400 FCA UK (#186171), CySEC (#259/14) Visit Broker
FBS Markets Inc forex broker $1 From 0 Pips 3000:1 IFSC Visit Broker
xm best forex broker $5 From 1 Pips 888:1 ASIC, CySEC, FCA (UK), BaFin, CNMV Visit Broker
Pepperstone review best forex broker in Australia $200 Starting 0 Pips 500:1 ASIC Australia Visit Broker
FXOpen ECN Broker $300 floating, from 0 pips 500:1 FCA UK reference number 579202 Visit Broker
octafx forex broker review $5 From 0.2 Pips 500:1 FSA (Saint Vincent and the Grenadines), FCA UK (#679306) Visit Broker
plus500 best forex broker review €100 The Spread can be as low as 0.01%” (0.01% = spread for EUR/USD) 1:294 ASIC, CySEC, FCA (UK) Visit Broker
ava trade best forex broker $100 Starting From 0.9 pips 400:1 MIFID, FSB & ASIC Visit Broker
ETX CAPITAL Forex Binary Options SpreadBetting Broker $100 From 0.7 pips 400:1 FCA UK reference number 124721 Visit Broker
etoro best forex broker USA $200 From 3 Pips 400:1 NFA, CySec Visit Broker

You should have all the necessary information available at every moment:

List of your open positions

List of your closed positions

Overview of the account usage for margin – in percentage, for example

Statement of account

Overview of the SWAP or premium fees

Try some different software and see which suits you best. Check the reliability of the program by opening a demo account first. An inappropriate and badly selected program cost you not only time, but also money.

Information on what types of orders you can use with your broker is also very important. If you can open the same currency pair at two opposite positions simultaneously – i.e. one short and one long. Or if you can divide your position so you can close one half of the position and leave the second in trade. It would seem that these things are not important and not worth the concern, but they are decisive when it comes to your satisfaction and it is important to include them in your decision-making process.

Guaranteed “STOP” and “LIMIT” Orders

Brokers are divided into several basic groups according to how they are dealing with your trades. Either they are dealing with them within their own system or they are forwarding them to the interbank market or to other market participants. The first ones are also referred to as “dealing desk” brokers, and they do not guarantee the mentioned order, so in practice it appears that after you typing the order to sell or buy currency they will re-quote prices, or basically they will disallow entry for your price, or worse.

Fees, Spreads, Leverage

Sales fees also called spreads are one of the main sources of brokers income and their goal is obviously to have spread as high as possible. If we look at an example of EUR USD, where the spread is 2 pips and the current BID price is 1.2875 and the current ASK price is 1.2877, so you buy and sell at the ASK BID, while the broker buys and sells for a BID ASK. It’s logical and it has its reason. Nevertheless, it remains an effort of brokers to have the spread as high as possible; a lot of competition forces them to narrow spreads. Let take a brief look at the usual spreads for individual currency pairs:

EUR/USD 1-3 pips [excellent to good condition]

GBP/USD 3-5 pips [excellent to good condition]

CHF/USD 3-5 pips [excellent to good condition]

EUR/JPY 3-5 pips [excellent to good condition]

JPY/USD 2-4 pips [excellent to good condition]

CAN/USD 4-6 pips [excellent to good condition]

Whatever is above this range, must be taken with caution and care.

Leverage and Margin

Leverage is one of the advantages of trading Forex. But it can be a disadvantage for you if you understand it incorrectly. Leverage allows you to handle or control a larger amount of currency. In other words, the greater the leverage, the less you need margin. But the leverage has to be used wisely. Greater leverage can be of assistance, but you must be able to control it. Find out what options of leverage your broker offers. You should have also check the size of rollover fees, if you hold your positions overnight.

Slippage

Slippage is the difference between estimated transaction price and the actual entry price. You can do a test program using your demo account so you calculate how fast your Forex broker fills in your order after you have pushed the button to buy or sell.

Computer and Mobile Equipment

Another aspect of decision-making is related to the technical aspect and depends on the OS you use. Most platforms run smoothly on Windows, but if you are using a Mac, it will be a good idea to verify the possibility of using Mac with your broker. The same pays for using a mobile phones or smartphones.

Data and Currency Pairs Available

It would be very surprising if any of the brokers that specialize in Forex charged any data services. Today, the Forex market has become so interesting that it is standard to have all data, including graphs and charts with different indicators for free. However, you should at least verify this information. You should also verify the currency pairs that a broker is able to offer to you. Generally, a broker can always offer you the major currency pairs, but if you’re interested in exotic pairs like USD CZK, check this option before choosing your broker.

Mini Accounts, Micro Accounts, Minimum Deposit to Open an Account

What is the minimum deposit to the getting an account is important information for those with limited capital to open an account or those who don’t want to invest that much into trading currencies. The lower limit is somewhere around $250 – $300. This opportunity is related to the use of mini and micro accounts. For mini accounts you are operating with a standard lot of 0.1 and for micro accounts the standard lot is 0.01. In practice, this means that if you trade in a micro account and open a position in the EUR USD, the value of one pip for you is $0.1. Most of the Forex brokers are trying to adapt to this trend and allow opening a standard micro account with a minimum deposit.

Conclusion

In conclusion, it is important to point out that, as in everything that relates to trading, the choice of a broker is your personal decision. Do not leave this selection to anyone else because you will bear the responsibility and the consequences of your decision, be it a good one or a bad one. And also if you don’t feel comfortable with your broker or you are not satisfied for any other reason, you are not obliged to remain with him forever – a change is possible at any time.

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