How to Choose Best Forex CFD Trading Broker for 2018

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Choosing a forex CFD trading broker is not always easy. There are many brokers in the market, and each of them will promise you a smooth trading experience. However, it is important to look beyond the promises and identify the best broker. The forex broker that you choose will determine whether you have an easy time or a nightmare in your trading experience. Beginners need to be extra careful because they may not have the basic skills on forex trading so they will fully rely on the broker.

Choosing the best forex CFD trading broker

Security of your investment
Before you choose a broker, always make sure that they will keep your investment secure. You need to avoid a situation where your investment will be lost without any tangible explanation. When looking for a reliable forex broker who will provide security for your investment, take time and look if they are regulated. The best brokers are listed by the relevant regulatory authorities depending on the country of operation. It is very easy to find a reliable broker just by looking at the NFA website for US brokers, FCA for the United Kingdom and ASIC for Australia.

Top Regulated Forex Brokers for Trading in 2018

Broker Info Bonus Open Account
HYCM Forex broker Min Deposit: $100
Spread: From 0,2 Pips
Leverage: 1:200
Regulation: FCA UK (#186171), CySEC (#259/14)
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FBS Markets Inc forex broker Min Deposit: $1
Spread: From 0 Pips
Leverage: 3000:1
Regulation: CySEC, IFSC
$50 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
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iq option best binary options brokers Min Deposit: $10
Spread:
Leverage:
Regulation: CySEC
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Pepperstone review best forex broker in Australia Min Deposit: $200
Spread: Starting 0 Pips
Leverage: 500:1
Regulation: ASIC Australia, FCA UK
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FXOpen ECN Broker Min Deposit: $300
Spread: floating, from 0 pips
Leverage: 500:1
Regulation: FCA UK reference number 579202
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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)
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ThinkMarkets Forex Broker regulated by ASIC and FCA UK Min Deposit: $250
Spread: as low as 0.1 pips
Leverage: up to 400:1
Regulation: ASIC Australia and FCA UK
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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)
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etoro best forex broker USA Min Deposit: $200
Spread: From 3 Pips
Leverage: 400:1
Regulation: NFA, FCA, CySec
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User-friendly trading platform
Trading is usually done on an online platform. You need to make sure that you look for a broker who has a user-friendly platform. The user platform should be easy to navigate and operate. The last thing that you want is to keep struggling with using a platform that you cannot understand. Before you commit to any broker, make sure that you go and look at the platform. If the platform is easy to use, then this is an added advantage to you. It will be easy to navigate and make all the decisions timely.

Responsive customer services
Every broker claims to have a team of customer service representative to help clients. However, do not take their word. Sometimes you will find yourself stuck with a problem that needs immediate intervention. At this time, you need to get the services of the broker as soon as possible. When looking for the best broker, make sure that they are available around the clock. You should also be able to contact them through different means of communication like phone, e-mail or live chat. The easier it is to contact the customer service team, the better it is for you.

Commission and fee
A wise investor should know how to analyze the commission and fees of the broker. A broker will charge commissions based on the spread. Getting a broker with the most competitive commission is the dream of every investor. However, it is important to take time and look beyond the commission that the broker gets from you. Some brokers will take a small commission to attract investors, but they will end up increasing the fees. The broker will end up getting more money from you than expected. Always check out for the additional fees trap.

Related Article : Lowest Spread Forex Brokers

Ease of withdrawal and deposit
It is important to look for a broker that will make it easy for you to withdraw and deposit your money. Ease of doing these transactions will go a long way in bringing efficiency in the trading deposits. Some trading accounts are very complex and the process of making a withdrawal or deposit becomes difficult. Always look at the platform and determine whether the platform is ideal for such transactions. Ease of withdrawal and deposit is also a sign that the broker is transparent in their mode of operation.

Trial period
A good broker should always allow you to get a trial period. During the trial period, you will be learning how the brokers’ mode of operation and how the system works. It is only fair to learn what to expect before you commit. Once the trial period is over, you can now decide whether you want to continue with the broker or not. A broker who is quick into making you commit is always a red flag. You should always get enough time to make your decision without any pressure.

Broker expertise
When looking for a broker for CFD forex trading, it is important to make sure that they are experts in the field. There is a time when you will need advice, and you need to be sure that the broker has adequate knowledge in the are.

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Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.