Top Ten Trusted Forex Brokers for Currency Trading in 2017

The forex market is the largest financial market in terms of the trading volume. The average daily turnover in this market is estimated to be over $5.09 trillion as of April 2016. Therefore, it is small wonder that there are millions of individuals all over the world that want to make a successful career as a forex trader.

best trusted stock brokersFor newbie traders that want to trade forex or currencies, the very first job is to identify a trusted forex broker that they can work with. Experts have opined that many new traders neglect this aspect and find out too late that this has a serious negative impact on the profitability of their trades. Other aspects that beginner traders have to be concerned about include: the platform that is offered by the forex broker on which they are going to work, and the minimum deposit amount that the forex brokers demand from the traders that want to set up a trading account with them. It is important for the forex brokers to evaluate all of these before teaming up with a trusted forex broker.

Most Trusted Forex Brokers for Currency Trading 2017

Broker Info Bonus Open Account
HYCM Forex Broker Min Deposit: $100
Spread: From 1,5 Pips
Leverage: 1:400
Regulation: FCA UK (#186171), CySEC (#259/14)
25% Welcome Bonus up to $5,000 Visit Broker
FBS Markets Inc forex broker Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: IFSC
$123 No-Deposit Bonus, 100% Deposit Bonus, Lucky T-shirt, iPhone 6s Plus Visit Broker
xm best forex broker Min Deposit: $5
Spread: From 1 Pips
Leverage: 888:1
Regulation: ASIC, CySEC, FCA (UK), BaFin, CNMV
15% Welcome Bonus, Loyalty Program Bonus Visit Broker
Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia
Visit Broker
FXOpen ECN Broker Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
Visit Broker
octafx forex broker review Min Deposit: $5
Spread: From 0.2 Pips
Leverage: 500:1
Regulation: FSA (Saint Vincent and the Grenadines), FCA UK (#679306)
50% Deposit Bonus Visit Broker
plus500 best forex broker review Min Deposit: €100
Spread: The Spread can be as low as 0.01%” (0.01% = spread for EUR/USD)
Leverage: 1:294
Regulation: ASIC, CySEC, FCA (UK)
Up to 30% First deposit, Welcome bonus (No deposit required) : 25 € “T&Cs apply” Visit Broker
ava trade best forex broker Min Deposit: $100
Spread: Starting From 0.9 pips
Leverage: 400:1
Regulation: MIFID, FSB & ASIC
Visit Broker
ETX CAPITAL Forex Binary Options SpreadBetting Broker Min Deposit: $100
Spread: From 0.7 pips
Leverage: 400:1
Regulation: FCA UK reference number 124721
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etoro best forex broker USA Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, CySec
Visit Broker
TickMill best Forex broker review Min Deposit: $25
Spread: Starting 0 Pip
Leverage: 500:1
Regulation: FCA UK and FSA (Seychelles)
Visit Broker

Here are reviews of the trusted forex brokers for 2017:

#1: XM.com

Owned and operated by Trading Point of Financial Instruments Ltd., XM.com is the trade name for Trade Point Holdings Ltd. Regulated by FCA UK and the CySEC, it is headquartered in London and Limassol in Cyprus. The forex broker is registered in the European Union.

Type of broker: DMA/STP, MM
Minimum deposit amount: $5
Options allowed for deposit: Neteller, WebMoney, Skrill, Bank Wire, Western Union, UnionPay (China), SOFORT, Credit Card, MoneyGram, etc.
Leverage offered: 888:1 (max)
Lot size (minimum): 0.01
Variable spread
Lowest spread for the EUR/USD pair: more than 1

#2: FBS

FBS is present in over 120 countries and is truly an international broker. With an online client base of over 2,000,000 traders, the company also has over 130,000 partners. This international broker also entertains Islamic accounts and makes it swap-free for the Muslim traders. Founded in the year 2009, their services are not available to citizens of countries such as Japan, USA and Belize.

Type of broker: ECN/STP, MM, DMA/STP
Minimum deposit amount: $5
Options allowed for deposit: Neteller, Wire Transfer, Webmoney, Visa/Master Card, Perfectmoney, OKPAY, YuuPay (with 3% commission), Skrill (with 7.5% commmission),FBS Exchanger, etc.
Leverage offered: 500:1 (max)
Lot size: 0.01(minimum)
Variable and Fixed Spreads
Lowest Spreads for EUR/USD pair: 2 pips (Mini accounts), 1 – 2 pips (Standard accounts)

#3: Tickmill

Tickmill is a company that is operated by Tmill UK Ltd., which is registered in both Wales and England. It is owned by Tickmill Ltd. The principal and registered offices of Tickmill are in London and Seychelles. Tickmill is regulated by two bodies: The Financial Conduct Authority (FCA UK) and Financial Services Authority (Seychelles).

Type of broker: STP/ECN/DMA/NDD
Regulated by: FCA (UK) and FSA (Seychelles)
Trading platforms: MetaTrader 4, Web Platform, Mobile Platform
Minimum deposit amount: $25
Options allowed for deposit: Wire Transfer, WebMoney, Credit/Debit Card, Neteller, Skrill, FasaPay, UnionPay
Leverage offered: 500:1(max)
Lot size: 0.01(minimum)
Variable spread
Lowest Spreads for EUR/USD pair: Up from 0.0

#4: Pepperstone

Pepperstone is an execution-only forex trading company that offers trading solutions for both novice and experienced traders. This CFD broking company was founded in the year 2010 and is headquartered in Melbourne, Australia. The company has its offices in both Dallas in the USA and Shanghai in China.

Type of broker: ECN/STP and DMA/STP
Regulated by: Australian Securities and Investments Commission (ASIC)
Trading platforms: MetaTrader4 and cTrader
Minimum deposit amount: $200
Options allowed for deposit: Bank Wire, Neteller, Skrill, Debit/Credit Card, FasaPay, PayPal, WebMoney, UnionPay(China), POLi, BPAY, QIWI, etc.
Leverage offered: 400:1(max)
Lot size: 0.01(minimum)
Variable spread
Lowest spreads for EUR/USD pair: more than 0.5 pip (Mini and Standard accounts); more than 0.1 pip (ECN)

#5: AvaTrade

From the year 2006, AvaTrade has pioneered online forex trading. Their main aim was to provide the best online trading experience to retail traders. In a short period, AvaTrade ended up having a wide client base with over 20,000 traders that together executed over 2,000,000 trades per month. The company has a whopping monthly trade value of over $60 billion.

Type of broker: MM
Regulated by: Central Bank of Ireland; Financial Futures Association, Japan; South Africa and Israel Securities Authority (ISA), Australian Securities and Investments Commission (ASIC); Financial Services Board (FSB)
Trading platforms: AvaTrader, MetaTrader 4
Minimum deposit amount – $100
Options allowed for deposit: Bank Wire, WebMoney, PayPal, Neteller, Skrill, Prepaid Master Card, Credit Card, etc.
Leverage offered: 400 (max)
Lot size: 0.05 (minimum)
Fixed spread
Lowest Spreads for EUR/USD pair: 3

#6: Plus500

This is a forex trading platform offered by Plus500CY Ltd., a company that is headquartered in Limassol, Cyprus.This forex broker is both regulated and have their operations authorized by the Cyprus Securities and Exchange Commission.

Type of broker: MM
Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
Trading Platforms: WebTrader, Windows Trader,
Minimum deposit amount: $100
Options allowed for deposit: Bank Wire, Credit Card, PayPal, Skrill, etc.
Leverage offered: 50:1 (max)
Lot size: 0.01(minimum)
Fixed Spread
Lowest Spreads for EUR/USD pair: 2

#7: eToro

eToro, a versatile online forex broker, offers a variety of asset classes for trading: currencies, CFDs in stock, commodities, and indices. Their operations span the globe and they have over 4.5 million users from 170 countries. The company was founded in the year 2006 in Tel Aviv with registered offices in the United Kingdom, Israel and Cyprus. One of the most notable features of this multi-asset online forex trading firm is the presence of a social trading platform and the facility for copy-trading for traders that want to use this facility.

Type of broker: MM
Regulated by: Australian Securities and Investments Commission (ASIC), Markets in Financial Instruments Directive (MiFID), National Futures Association (NFA), Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC)
Trading platforms: eToro WebTrader, eToro OpenBook, eToro Mobile Trader
Minimum deposit amount: $50
Options allowed for deposit: Neteller, Bank Wire Transfer, Skrill, Webmoney, Credit/Debit Card, PayPal, Moneygram, Western Union
Leverage offered: 400:1(max)
Lot size: 0.01(minimum)
Fixed spread
Lowest spreads for EUR/USD pair: 3

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