A reputable forex broker must have some rules, services and programs to protect the market integrity. They must also protect the public from manipulation, fraud, and also abusive practices that relate to the future options and sales as well as encouraging to open stable and competitive option and future markets. Below is a list of top rated forex brokers.
Best Forex Brokers List
|Broker Name||Min Deposit||Regulation||Review||Open Account|
|FBS||$1||CySEC (Cyprus), IFSC (Belize)||read more||visit broker|
|FXTM||$5||CySEC (Cyprus), FCA (UK)||read more||visit broker|
|XM||$5||CySEC (Cyprus), ASIC (Australia), FCA (UK)||read more||visit broker|
Forex broker is classified as firms which provide some traders of currency with trading platform access that allow them to sell and buy foreign currencies. The broker in currency trading is also well-known as broker or retail forex broker. They handle a little volume portions belong to general foreign exchange market.
You may wonder why forex traders need some forex brokers. Here, a forex broker will act as an intermediary between the two parties which involve in a transaction of forex: the seller and the buyer. Whilst it may be possible to sell or buy currency directly throughout banks or other financial institutions, the forex brokers generally offers services which are generally benefit forex traders like charting platform, leverage access and analysis tools.
How to Choose the Right Forex Broker
When you are entering the world of forex, you will need a broker to provide everything that you need to trade. Choosing the right broker is not an easy thing at all because sometimes if you are not careful, your broker can lead you to your own destruction. So, below are several things you must pay attention to when you choose a broker.
- Security, Customer Support, and Account Types Variation
Make sure that your broker can make you feel secure. To make you sure that your broker is not a fraud, check the regulation and the licensed. A good and well-trusted broker must have at least the license from local regulatory authorities. A professional broker must also have customer support. There will be email address and phone number that you can contact whenever you want. There will be online rap that is available on live chat so that the traders can contact the broker easily. Not all traders are already professionals. So, a good broker must have many options of account types for the trader. A good broker can also provide variations of accounts based on the amount of money the trader has.
- Initial Deposit, Charges and Fees, and Leverage
When you choose a good broker, you have to choose one that can support your financial condition. Choose the broker that can get you an account with the minimum deposit you can afford. If you do not have the cash, choose the broker that accepts credit cards and bank wires as well. Choose a broker that will not financially burden you with high charges and fees. Make sure the charges and fees are negotiable and they are not too high so that you can still afford them. Choose a broker that can provide you with the most reasonable amount of leverages. That way, you do not have to risk your chance in the forex market to get a profit. A good broker will also help you with the leverages to avoid a major losing.
- Spreads, Free Demo Account, and Currency Pairs Options
Choose a broker that can offer you the best type of spread so that you as a trader can make as many profits as possible. Before you use real account to trade, you need a demo account to do “trial” first. A good broker can provide you with a free demo account. Choose a broker that can offer all major currency pairs so that you can have as many options as possible.
- Trading Platform, Education Materials, and Bonuses and Promotions
A good broker will provide you a secure trading platform. The broker will also help you with the consideration of placing your trade and many more. If you choose a broker, choose one that not only supports you but also gives you knowledge. The broker must inform you the daily analysis, tell you what you do good and what you shouldn’t do next, and also mentor you when you place your trade. Choose a broker that can appreciate the traders by giving them bonuses and promotion. The traders will be both feeling flattered and motivated to do even better in the forex market.
Do not be fooled by investments that offer results that are too much in a very fast time. But many investors do not think long when the investment product offered. This is because they want their money to grow and do not want to suffer. These investments generate substantial risks. This investment can add your money, but these investments can result in losses. The following is an investment with high risk. Continue reading “8 High Risk Investments That Could Double Your Money”
Money management is the most crucial factor that defines the general strategies of Forex trading’s incomes or loss. It is something that should always be cared because it is the crucial trading key. You should be smart in money management to make profits and minimize the loss.
Continue reading “The Crucial Points about Money Management”
When it comes to the definition of forex broker, you may find that the term is quite understandable. Forex is classified as firms which provide some traders of currency with trading platform access that allow them to sell and buy foreign currencies. The broker in currency trading is also well-known as broker or retail forex broker. They handle a little volume portions belong to general foreign exchange market. Continue reading “The Definition of Forex Broker”
ECN broker is an expert of forex financial that utilizes ECN (Electronic Communications Networks) as the direct access of his clients to other contributors in the markets of currency. An ECN broker commonly can offer tighter ask spreads or bid to the clients rather than other else that would be available for them. It is because the broker combines price references from some contributors in the market. Continue reading “What is ECN Broker?”
Unlike other exchange driven markets, the forex market has its unique feature which many market makers use to entice traders. They commonly promise that there will be no regulatory fees, data fees or exchange fees , and the best of all is without commission. To some new traders, this is a good news as they want to break0into the business of trading. Trading with no transaction cost is obviously a great advantage. Nevertheless, it will look like a bargain to inexpert traders might not be the best deal available or even is not good at all somehow. We are going to show you the way to evaluate forex broker commission or fee structures and find the one which suits you the best. Continue reading “How to Pay Your Forex Broker”
As you know, the market of forex obliges least amount of capital to start your day trading, trades for twenty four hour a day as well as offering some potentials because of the leverage is already provided by some forex brokers. These following scenarios will show you the potential that uses a risk which is controlled by the strategy of forex day trading. Continue reading “How Much Money Can I Make Forex Day Trading?”
Forex brokers never stop in arranging several types of forex competition and contests for the traders so that the brokers could retain trader’s association and interest with the trading platforms and sites that are provided by the brokers. Forex contests are utilized by online forex brokers in order to make the traders become more vigilant and active in the trading experience. Basically, these forex competitions and contests are designed to test the trading ability and skills of the traders. The type of contest that is most commonly designed by brokers is free contest. Free contest could be categorized into live and demo competition. Continue reading “Various Types of Forex Contests”
Awesome oscillator (AO) is an indicator which is used to measure market momentum. It reflects specific alteration in market momentum which help to determine the strength of trends, included forming point and spread. This is most important indicator from Bill Williams. It is integrated into your terminal trading. The goal is to determine current market momentum that is the booster which is second measurement that helps you to build a successful trading strategy. Continue reading “Awesome Oscillator”
Forex Brokers Promotions
There are various choices of trade promotions that are offered exclusively by online companies and forex brokers. Trade promotion came in various choices of types with different characteristics and features. Besides contests and forex bonuses, you also could find the types of promotion without specific name that are usually offered by online companies or brokers. If you want to understand these types of promotions, you can take a look at the explanation below. Continue reading “Promotions Provided By the Forex Companies”
Forex brokers offer various choices of trading promotions so that they could attract more potential clients to join the forex business. One of the most common types of trading promotions that you could find is forex bonuses. Bonuses are the type of trading promotion that is very preferred by forex traders since bonuses could help the traders to get more profits and also give traders the opportunity to get more cash without using any investment. Forex bonuses could be categorized into several types such as deposit bonuses, no deposit bonuses, and welcome bonuses. To understand the difference between these bonuses, let’s take a look at the explanation below. Continue reading “Forex Bonuses: Welcome Bonus – No Deposit Bonus”