• Skip to main content
  • Skip to secondary menu
  • Skip to footer
  • Currency Pairs
  • Charts
    • Candlesticks
  • Trading Strategies
    • Day Trading
    • Swing Trading
    • Scalping
  • Technical Analysis
  • Fundamental Analysis

Forex Traders Guide

The Ultimate Forex Knowledge Base

  • Welcome
  • Forex Glossary
  • Forex Basics
    • Trading Tips
  • Forex Brokers
    • Best Forex Brokers
    • All Forex Brokers Reviews
  • Forex Robots
    • Best Forex Robots
    • All Forex Robots Reviews
    • All Forex Signals Reviews
  • Forex News
  • Mustreads
  • CONTACT US

Best Forex Brokers

Every year we conduct a review of the best brokerage companies based on our rating system, as well as, many articles and market researches of brokerage services. Forex (foreign exchange) market is the biggest market and the most liquid in the world that is interested in by many traders.

IG logo
IG
Founded: 1974, USA
Review
Rank
1
Minimum Deposit
USD 250
Type of broker
ECN / STP
Regulation
  • CFTC (US)
  • NFA (US)
  • FCA (UK)
  • ASIC (Australia)
  • JFSA (Japan)
  • FINMA (Switzerland)
Financial Instruments
  • Currency Pairs
  • Cryptocurrencies
  • Indices
  • Stocks
  • Futures
  • Bonds
  • Options
  • ETFs
Best for:
  • Clients from USA
US
Deposit methods
Credit cards
Wire Transfer
Paypal
Bpay
Trading Conditions
  • Max. Leverage: Up to 1:50
  • Min. Spread: 0.8 pips
  • Currency Pairs: 104
Trading platforms
  • IG Web
  • MetaTrader4
  • ProRealTime
Pros & Cons
Pros
  • Low commissions, tight spreads and fast trade execution speeds
  • More than 16000 trading instruments
  • Good educational tools
Cons
  • Limited portfolio for products
  • Poor customer support
Pepperstone
Pepperstone
Founded: 2010, Australia
Review
Rank
2
Minimum Deposit
USD 200
Type of broker
ECN / STP
Regulation
  • ASIC (Australia)
  • FCA (UK)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Indices
  • Energies
  • Metals
Best for:
  • Beginner traders
US
Deposit methods
Credit cards
Wire Transfer
Neteller
PayPall
Skrill
Bpay
FasaPay
Qivi
UnionPay
Poli
Trading Conditions
  • Max. Leverage: Up to 1:500
  • Min. Spread: 0.1 pips
  • Currency Pairs: 62
Trading platforms
  • MetaTrader4
  • MetaTrader5
  • cTrader
Pros & Cons
Pros
  • User-friendly and fast account opening.
  • Transparent fee structure.
  • Great customer service.
Cons
  • Limited product portfolio.
  • Withdrawal fee.
  • No two-step (safer) login.
AvaTrade logo
AvaTrade
Founded: 2006, Ireland
Review
Rank
3
Minimum Deposit
USD 200
Type of broker
ECN / STP
Regulation
  • Central Bank of Ireland
  • ASIC (Australia)
  • JFSA (Japan)
  • IIROC (Canada)
Financial instruments
  • Forex
  • Cryptocurrencies
  • Stocks
  • Commodities
  • Indices
  • Options
  • ETFs
  • Bonds
Best for:
  • Intermediate traders
US
Deposit methods
Credit cards
Wire Transfer
Neteller
PayPall
Skrill
Webmoney
Trading Conditions
  • Max. Leverage: Up to 1:400
  • Min. Spread: 0.9 pips
  • Currency Pairs: 55
Trading platforms
  • MetaTrader4
  • MetaTrader5
  • WebTrader
  • AvaTradeGo
  • DupliTrade
Pros & Cons
Pros
  • Variety of platforms
  • Wide range of trading assets
  • Available in 30 languages
Cons
  • Doesn’t accepts US clients
  • Payments and withdrawals can take a few days
FOrex.com
FOREX.com
Founded: 1999, UK
Review
Rank
4
Minimum Deposit
USD 100
Type of broker
ECN / STP
Regulation
  • CFTC (USA)
  • FCA (UK)
  • JFSA (Japan)
  • IIROC (Canada)
Financial Instruments
  • Forex
  • Gold & Silver
  • Futures & Future Options
Best for:
  • Traders on any level
US
Deposit methods
Credit cards
Wire Transfer
Trading Conditions
  • Max. Leverage: Up to 1:100
  • Min. Spread: 0.2 pips
  • Currency Pairs: 80
Trading platforms
  • MetaTrader4
  • Web, mobile, desktop platform
Pros & Cons
Pros
  • Wide range of trading assets
  • Great customer support
  • Trading programs for traders on different levels
Cons
  • Difficult user verification conditions
Darwinex
Darwinex
Founded: 2012
Review
Rank
5
Minimum Deposit
USD 500
Type of broker
DMA / STP
Regulation
  • FCA (UK)
Financial Instruments
  • Forex
  • Cryptocurrencies
  • Commodities
  • Indices
  • Stocks
Best for:
  • Professional traders
US
Deposit methods
Credit cards
Wire Transfer
PayPall
UnionPay
Trustly
Trading Conditions
  • Max. Leverage: Up to 1:30
  • Min. Spread: 0.1 pips
  • Currency Pairs: 34
Trading platforms
  • MetaTrader4
  • MetaTrader5
  • Social Platform
Pros & Cons
Pros
  • Darwinex offer the popular MT4 forex trading platform
  • You don’t have to worry about any calculations
    as all fees are deducted automatically.
  • You are in control of your investment in PAMM
    as you can exit the investment at any time.
Cons
  • Minimum $500 deposit
  • Withdrawing from the PAMM before the allowed period
    may attract a fee.
  • Darwinex is not available in the following countries : US
IC Markets
IC Markets
Founded: 2007
Review
Rank
6
Minimum Deposit
USD 200
Type of broker
ECN
Regulation
  • SFSA (Seychelles)
  • ASIC (Australia)
Financial Instruments
  • Crypto
  • Currencies
  • Stocks
  • Bonds
  • Metals
  • Energies
  • Indices
  • Softs
Location
  • Australia
US
Deposit methods
Credit cards
Wire Transfer
Neteller
PayPall
Skrill
Bpay
FasaPay
UnionPay
Poli
Klarna
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0.1 pips
  • Currency Pairs : 60
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • WebTrader
  • cTrader
Pros & Cons
Pros
  • Easy and fast account opening
  • They are one of the most trusted names in retail
    forex trading.
  • IC Markets offer a wide range of deposit methods
    giving the client many options.
Cons
  • IC Markets does not accept US clients.
  • No negative balance protection.
Naga
Naga
Founded: 2013
Review
Rank
7
Minimum Deposit
50 EUR
Type of broker
STP
Regulation
  • CySEC (Cyprus)
Finanacial Instruments
  • Crypto
  • Currencies
  • Metals
  • Stocks
  • ETFs
  • Indices
  • Energies
  • Softs
Location
  • Cyprus
US
Deposit methods
Credit cards
Wire Transfer
Neteller
Bitcoin
Skrill
Trustly
Ethereum
Dash
GiroPay
Litecoin
Trading Conditions
  • Max. Leverage : Up to 1:200
  • Min. Spread : 1.5 pips
  • Currency Pairs : 45
Trading platforms
  • Social Platform
  • Web
Pros & Cons
Pros
  • Wide range of trading instruments.
  • Large and active community.
  • Unique Social Trading Service.
Cons
  • NAGA Capital Ltd does not provide services to residents
    of certain jurisdictions including the USA.
  • Many options and features can be a bit confusing.
  • The web trading platform might be too simple.
RoboForex
RoboForex
Founded: 2009
Review
Rank
8
Minimum Deposit
USD 10
Type of broker
ECN, MM, STP
Regulation
  • IFSC (Belize)
  • CySEC (Cyprus)
Financial Instruments
  • Crypto
  • Currencies
  • Stocks
  • ETFs
  • Energies
  • Metals
  • Indices
Location
  • Belize
US
Deposit methods
Credit cards
Wire Transfer
Skrill
FasaPay
Perfect money
UnionPay
Epayments
Webmoney
Trustly
Qivi
Ideal
Sofort
Advcash
Ethereum
Neteller
Bitcoin
Poli
Trading Conditions
  • Max. Leverage : Up to 1:2000
  • Min. Spread : 0.1 pips
  • Currency Pairs : 36
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • cTrader
  • WebTrader
  • Social Platform
Pros & Cons
Pros
  • Traders can start off with as little as
    a $10 deposit.
  • RoboForex is available to traders 24 hours
    a day, 5 days a week.
  • The company also offers Skype and Yahoo chats,
    though these are not instant services.
Cons
  • RoboForex does not accept account applications
    from U.S. residents.
FP Markets
FP Markets
Founded: 2005
Review
Rank
9
Minimum Deposit
USD 100
Type of broker
DMA, STP, ECN
Regulation
  • ASIC (Australia)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Indices
  • Energies
  • Metals
  • ETFs
Location
  • Australia
US
Deposit methods
Credit cards
Wire Transfer
Neteller
PayPall
Skrill
Bpay
FasaPay
Astropay
Qivi
Poli
UnionPay
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0.1 pips
  • Currency Pairs : 70
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • WebTrader
Pros & Cons
Pros
  • Quick deposit and withdrawal.
  • Low forex fees.
  • Both Metatrader platforms and IRESS are available.
Cons
  • FP Markets does not accept applications from US.
  • FP Markets is only regulated by ASIC.
  • Limited product portfolio.
Anzo Capital
Anzo Capital
Founded: 2015
Review
Rank
10
Minimum Deposit
USD 100
Type of broker
ECN,STP
Regulation
  • ASIC (Australia)
  • IFSC (Belize)
Financial Instruments
  • Crypto
  • Currencies
  • Energies
  • Indices
  • Metals
Location
  • Belize
US
Deposit methods
Credit cards
Wire Transfer
Skrill
Neteller
FasaPay
PayPall
Webmoney
Yandex money
Qivi
UnionPay
Poli
Bitwallet
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0.1 pips
  • Currency Pairs : 45
Trading platforms
  • MetaTrader4
  • Web
Pros & Cons
Pros
  • User-friendly and fast account opening.
  • Transparent fee structure.
  • Great customer service.
Cons
  • Payment methods are limited.
  • They do not accept clients from the United States
TradeView
TradeView
Founded: 2004
Review
Rank
11
Minimum Deposit
USD 100
Type of broker
ECN,STP
Regulation
  • CIMA (Cayman Islands)
Financial Instruments
  • Crypto
  • Currencies
  • Stocks
  • Indices
  • Energies
  • Metals
  • ETFs
Location
  • Cayman Islands
US
Deposit methods
Credit cards
Wire Transfer
Neteller
Skrill
bitwallet
FasaPay
UnionPay
Epayments
uphold
Sticpay
Bitpay
Ecopayz
Trading Conditions
  • Max. Leverage : Up to 1:400
  • Min. Spread : 0.1 pips
  • Currency Pairs : 60
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • Currenex
  • cTrader
Pros & Cons
Pros
  • Users can access real-time relevant news
    about the stock markets as they come in.
  • Accepts Bitcoin payments if you subscribe
    to an annual plan.
  • Amazing free plan
Cons
  • Very limited broker support.
  • It is not easy to tell if drawings you have
    created on your charts have been saved or not.
XM Group
XM Group
Founded: 2009
Review
Rank
12
Minimum Deposit
USD 5
Type of broker
ECN,STP
Regulation
  • ASIC (Australia)
  • IFSC (Belize)
  • CySEC (Cyprus)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Indices
  • Energies
  • Metals
  • Stocks
Location
  • Belize
US
Deposit methods
Credit cards
Wire Transfer
Neteller
Webmoney
Skrill
Yandex money
Qivi
Trading Conditions
  • Max. Leverage : Up to 1:880
  • Min. Spread : 0.1 pips
  • Currency Pairs : 57
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • Web
Pros & Cons
Pros
  • Easy and fast account opening.
  • XM is regulated across a number of regions.
  • XM has low CFD and withdrawal fees.
Cons
  • Average forex fees.
  • XM has a limited product portfolio.
Dukascopy
Dukascopy
Founded: 1998
Review
Rank
13
Minimum Deposit
USD 100
Type of broker
ECN, STP
Regulation
  • JFSA (Japan)
  • FINMA (Switzerland)
  • FCMC (Latvia)
Financial Instruments
  • Crypto
  • Indices
  • Softs
  • Metals
  • Currencies
  • ETFs
  • Energies
  • Stocks
  • Bonds
Location
  • Switzerland
US
Deposit methods
Credit cards
Wire Transfer
Trading Conditions
  • Max. Leverage : Up to 1:200
  • Min. Spread : 0.1 pips
  • Currency Pairs : 50
Trading platforms
  • JForex
  • MetaTrader 4
  • WebTrader
Pros & Cons
Pros
  • Advanced charting
  • Proprietary JForex platforms
  • Dukascopy offers access to more 1500 different stocks
Cons
  • Dukascopy’s weak spot is customer service
  • Small product catalog
  • No two-factor authentication
Pepperstone
Circle Markets
Founded: 2016
Review
Rank
14
Minimum Deposit
USD 50
Type of broker
ECN,STP
Regulation
  • FSPR (New Zealand)
  • VFSC (Vanuatu)
Financial Instruments
  • Crypto
  • Currencies
  • Energies
  • Indices
  • Metals
Location
  • Zealand
US
Deposit methods
Credit cards
Wire Transfer
Neteller
PayPall
Skrill
FasaPay
Sofort
Bitcoin
Payeer
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0.2 pips
  • Currency Pairs :144
Trading platforms
  • MetaTrader5
  • cTrader
  • Fix API Trader
Pros & Cons
Pros
  • Competitive spreads.
  • Used by over 10,000 traders.
Cons
  • Lighter regulation (NZ).
  • Doesn’t allow scalping.
FortFS
FortFS
Founded: 2010
Review
Rank
15
Minimum Deposit
USD 5
Type of broker
ECN,STP
Regulation
  • IFSC (Belize)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Stocks
  • ETFs
  • Indices
  • Energies
  • Metals
  • Bonds
Location
  • Belize
US
Deposit methods
Credit cards
Wire Transfer
Neteller
Skrill
Webmoney
FasaPay
Qivi
PerfectMoney
Trading Conditions
  • Max. Leverage : Up to 1:1000
  • Min. Spread : 0.3 pips
  • Currency Pairs : 140
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • CQG
  • WebTrader
  • Ninja Trader
Pros & Cons
Pros
  • The bonus program works on a permanent basis and
    is available to all FortFS clients.
  • The company also only works with trusted and globally
    approved trading partners.
  • Low initial deposit.
Cons
  • Loose Regulation.
MultiBank Group
MultiBank Group
Founded: 2005
Review
Rank
16
Minimum Deposit
USD 50
Type of broker
ECN,STP
Regulation
  • ASIC (Australia)
  • FMA (Austria)
  • BaFin (Germany)
  • CNMV (Spain)
  • BVIFSC (British Virgin Islands)
  • CIMA (Cayman Islands)
Financial Instruments
  • Crypto
  • Currencies
  • Metals
  • Indices
  • Stocks
  • Energies
Location
  • Australia
  • Austria
  • British Virgin Islands
  • Cayman Islands
  • Germany
  • Spain
US
Deposit methods
Credit cards
Wire Transfer
Neteller
PerfectMoney
Skrill
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0.8 pips
  • Currency Pairs : 45
Trading platforms
  • MetaTrader4
  • MEX Mobile Trader
  • WebTrader
Pros & Cons
Pros
  • Fast and easy account opening.
  • Very Wide Selection of Indices.
  • Fast and relevant customer service.
Cons
  • Limited product coverage.
  • Little Educational Content.
  • Not CySEC Regulated.
Fxopen
FxOpen
Founded: 2005
Review
Rank
17
Minimum Deposit
USD 1
Type of broker
ECN,STP
Regulation
  • ASIC (Australia)
  • FCA (UK)
Financial Instruments
  • Crypto
  • Currencies
  • Metals
  • Indices
  • Energies
Location
  • New Zealand
US
Deposit methods
Credit cards
Wire Transfer
Neteller
FasaPay
Skrill
Bpay
Webmoney
Qivi
UnionPay
PerfectMoney
Bitcoin
Yandex money
ethereum
RBKmoney
Intellectmoney
Paysafecard
Litecoin
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0 pips
  • Currency Pairs : 52
Trading platforms
  • MetaTrader4
  • Web
Pros & Cons
Pros
  • Min. deposit from $1.
  • A great variety of deposit and withdrawal methods.
  • Real cryptocurrency trading.
Cons
  • Not CySEC Regulated.
  • Customer support is not 24/7.
  • High fees.
CityIndex
CityIndex
Founded: 1983
Review
Rank
18
Minimum Deposit
USD 10
Type of broker
ECN,STP
Regulation
  • ASIC (Australia)
  • FCA (UK)
  • MAS (Singapore)
  • Central Bank of UAE
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Stocks
  • Indices
  • Energies
  • Metals
  • Bonds
Location
  • UK
US
Deposit methods
Credit cards
Wire Transfer
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0.7 pips
  • Currency Pairs : 84
Trading platforms
  • MetaTrader4
  • Web
Pros & Cons
Pros
  • Large product catalog.
  • Used by 140,000+ traders.
  • Cryptocurrency coverage.
Cons
  • Not CySEC Regulated.
  • No volume discounts.
  • No social trading data.
Fibo Group
Fibo Group
Founded: 1998
Review
Rank
19
Minimum Deposit
USD 0
Type of broker
ECN,STP
Regulation
  • CySEC (Cyprus)
  • BVIFSC (British Virgin Islands)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Stocks
  • Indices
  • Energies
  • Metals
Location
  • Austria
US
Deposit methods
Credit cards
Wire Transfer
Neteller
FasaPay
Skrill
Webmoney
bitpay
Qivi
Ecopayz
Regularpay
Dixipay
Cashu
Trading Conditions
  • Max. Leverage : Up to 1:1000
  • Min. Spread : 0.6 pips
  • Currency Pairs : 60
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • cTrader
  • Web
Pros & Cons
Pros
  • Well-regulated.
  • Various auto trading options .
Cons
  • No commodity & indices CFDs.
eToro
eToro
Founded: 2006
Review
Rank
20
Minimum Deposit
USD 200
Type of broker
Market Maker
Regulation
  • ASIC (Australia)
  • FCA (UK)
  • CySEC (Cyprus)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Indices
  • ETFs
  • Metals
Location
  • Cyprus
US
Deposit methods
Credit cards
Wire Transfer
Neteller
PayPall
Skrill
Webmoney
Yandex money
Giropay
Wirecard
Trading Conditions
  • Max. Leverage : Up to 1:400
  • Min. Spread : 0.7 pips
  • Currency Pairs : 47
Trading platforms
  • Social Platform
  • Web
Pros & Cons
Pros
  • Expansive network of social trading features
  • Used by 6,000,000+ traders.
  • Wide range of CFD products.
Cons
  • Only 47 cryptocurrency pairs available.
  • Doesn’t allow scalping
HotForex
HotForex
Founded: 2010
Review
Rank
21
Minimum Deposit
USD 5
Type of broker
ECN,STP
Regulation
  • CySEC (Cyprus)
  • FCA (UK)
  • DFSA (United Arab Emirates)
  • SFSA (Seychelles)
  • FSCA (South Africa)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Indices
  • Energies
  • Metals
  • Bonds
Location
  • Saint Vincent and the Grenadines
US
Deposit methods
Credit cards
Wire Transfer
Neteller
Webmoney
FasaPay
Bitcoin
Skrill
UnionPay
Bitcoin cash
Trading Conditions
  • Max. Leverage : Up to 1:1000
  • Min. Spread : 0.1 pips
  • Currency Pairs : 49
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • Web
Pros & Cons
Pros
  • The HotForex minimum deposit varies from $5
    to $500 depending upon your account type choice.
  • The broker features a wide variety of account types.
Cons
  • HF Markets (SV) Ltd does not provide services to residents
    of the USA, Canada, Sudan, Syria, North Korea.
  • Offering Metatrader only, and no proprietary platform,
    may not be to the satisfaction of all traders.
FxPro
FxPro
Founded: 2006
Review
Rank
22
Minimum Deposit
USD 100
Type of broker
ECN,STP
Regulation
  • CySEC (Cyprus)
  • FCA (UK)
  • SCB (Bahamas)
  • DFSA (United Arab Emirates)
  • FSB (South Africa)
Financial Instruments
  • Crypto
  • Currencies
  • Softs
  • Stocks
  • Indices
  • Energies
  • Metals
Location
  • UK
US
Deposit methods
Credit cards
Wire Transfer
Neteller
UnionPay
PayPall
Skrill
Trading Conditions
  • Max. Leverage : Up to 1:500
  • Min. Spread : 0.6 pips
  • Currency Pairs : 69
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • cTrader
  • Web
Pros & Cons
Pros
  • Segregates client funds.
  • FXPro has strong regulators for the business from
    around the world.
Cons
  • Customer support staff cannot give tax advice.
  • Traders can not use FXPro from Iran, United States,
    Canada, Zimbabwe, Myanmar, New Zealand, Iraq.
Alpari
Alpari
Founded: 1998
Review
Rank
23
Minimum Deposit
USD 1
Type of broker
ECN,STP, Binary
Regulation
  • FSC (Mauritius)
Financial Instruments
  • Crypto
  • Currencies
  • Metals
  • Indices
  • Energies
Location
  • Mauritius
US
Deposit methods
Credit cards
Wire Transfer
Neteller
FasaPay
Bitpay
Skrill
UnionPay
Webmoney
Trading Conditions
  • Max. Leverage : Up to 1:1000
  • Min. Spread : 0.1 pips
  • Currency Pairs : 33
Trading platforms
  • MetaTrader5
  • MetaTrader4
  • Binary Platform
  • Web
Pros & Cons
Pros
  • Segregates client funds.
  • Used by over 10,000 traders.
  • Alpari doesn’t charge inactivity fees.
Cons
  • No major regulation.

Things You Should Know Before Choosing a Forex Broker

How to Check the Reliability of a Broker: Regulations and Licenses

One would always like to hand over his hard-earned money to someone reliable and trustworthy. Your funds must be kept safe when investing with a broker, as there is still a possibility that these companies can go bankrupt. Therefore check out the legal regulation of a brokerage by a noted regulator who has a keen eye on every aspect of their services; if authorities fear that an exchange is double-crossing, hefty fines are imposed with the possibility of a permanent ban.


Clients can also complain directly to these authorities if they feel a genuine issue is unresolved by the broker. Following regulatory firms are the best ones to keep in mind:


  • United States: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
  • United Kingdom: Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
  • Australia: Australian Securities and Investment Commission (ASIC)
  • Cyprus: Cyprus Securities and Exchange Commission (CySEC),
  • Switzerland: Swiss Federal Banking Commission (SFBC)
  • Germany: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN)
  • France: Autorité des Marchés Financiers (AMF)
  • Canada:  Investment Information Regulatory Organization of Canada (IIROC)

Forex Trading Platforms

Companies nowadays have started to develop their own trading platforms in a rush to beat the traditional MetaTrader and offer customers a local experience with better options. 


A trading platform is where you place and modify your trades or even use charts and tools to analyze the markets. It holds profound importance as it can significantly impact your trades if you don’t know how to handle such software. Make sure the platform provided by your brokerage has useful tools, various order types, strategy tester, one-click trading alongside a user manual to help one in the learning process.

Currency Pairs Offered

Each trader has a unique trading strategy of their own to tackle the markets. The trading plan may be accustomed to specific forex pairs showing their best abilities on it. Your broker must have enough currency pairs or at least the ones you’ll utilize. Having more trading instruments will also allow one to test out his game plan on other potentially more profitable currencies.

Account Types

Different accounts are available in the forex industry that varies based on transaction costs, commissions, minimum deposit, leverage, etc. An Electronic Communication Network (ECN) or No Dealing Desk (NDD) account will be more suitable for traders with a quick trading style that requires low latency on their executions. The broker generally charges a fixed commission for such accounts while having a low spread, usually zero pips. Standard accounts are more commonly used and have their fees built into the spread. They also require less amount in terms of the minimum deposit as compared with ECN or NDD.

Deposit, Withdrawal, and Additional Fees

One is likely to invest with a brokerage that has various deposit and withdrawal methods. The most common ones are through a credit/debit card and bank or wire transfer. Having many options to fund your account via PayPal, e-wallets, local transfer, etc., will be more helpful, and the same goes for cashing out. Stay clear from companies that charge a considerable amount of fees when you want to take your money out. Additional costs may incur if you leave your trading account dormant for some time, and it varies from broker to broker.

Execution Policy

Dealing Desk Brokers open a position contrary to yours and make a profit through losing traders. Such companies have no interest in making their traders win and benefit through the high loss rate, i.e., 90 percent in forex. Have a brokerage that has its quotes straight from interbank via wholesale liquidity providers as they will have fast executions on your trade with minimum latency and are the first choice of all professional traders.

Charts, Tools, and Education

Quality charts, tools, and education are provided by brokers who are loyal to their customers. From the bottom of their heart, a company should always offer the best in the plate for its traders, as quality stuff is a quick road to success. Learning more about trading charts and having the tools to draw out your strategy with the right knowledge will set one on a short path to becoming a senior trader.

Customer Support

A good brokerage should answer any of your questions reasonably and professionally. Customer support is generally handed out through live chat, email, and support. Most companies have these options available 24/5; however, some have 24/7 support and more means available to deal with their clients, which is an advantage if you are trading in the Forex that never seizes its operation.

Footer

Latest Forex Brokers

Darwinex

Darwinex Review

May 14, 2020 By Forex Winner

tastyworks

tastyworks

April 28, 2020 By Forex Winner

FxPro

FxPro Review

March 20, 2020 By Forex Winner

Latest forex robots

Grid Hero

Grid Hero Review

January 14, 2021 By Forex Winner

Neuro FX Robot

Neuro FX Robot Review

January 10, 2021 By Forex Winner

Exynox Scalper

Exynox Scalper Review

January 10, 2021 By Forex Winner

EMAIL NEWSLETTER

Sign up to receive email updates daily and to hear what's going on with us!

Copyright © 2021 · Forex Traders Guide · About Us · Contact Us
Privacy Policy · Risk Disclosure