Published by Steven Hatzakis Monday, April 2nd,
Choosing the Best Forex Brokerage
With hundreds of Forex brokers to choose from, selecting the right one can be both challenging and time consuming. To ease the process, we've tested and reviewed dozens of the top Forex brokers and compiled our findings into thorough Forex brokers reviews. But don't just take our word for it; each Forex broker review also includes feedback from real traders, so that you can make a comfortable, informed decision.
When researching the best online Forex brokers there are many aspects to consider. Regulated brokers are certainly the most secure and for this reason alone we only recommend regulated entities as our top Forex brokers.
You can do this quickly and easily by reading our Forex broker reviews and checking our Forex broker ratings. Browse our Forex broker reviews now! This should not constitute as advertisement in the territory of Belgium, France and Netherlands. The company was founded in and since then, IFC Markets has expanded the range of services provided and has been focused on the development and implementation of innovative approaches to trading. The group was founded in , at the dawn of the modern retail brokerage industry.
FXCM was listed among the fastest growing companies by Inc. It is regulated and licensed in each of them. Forex is easy to learn and success can come with the very first trade. Understanding how the final analysis of profit and loss is configured is an important first step in Forex trading and a certain amount of Forex training is definitely a prudent undertaking by all traders if any money is to be made in currency trading.
Understanding the technical and fundamental reasons behind currency pairs and how they affect price movements as well as knowledge of and familiarity with Forex indicators and tools, leads to a more successful trading experience. Forex is just one of many investment vehicles a trader can choose and like all other financial instruments, both gains and losses are part of the game.
One of the best ways to boost your chances of success in Forex is to understand the ins and outs of currency trading. Setting up a demo or practice account can offer an opportunity to do trade on a live account without putting any money at risk and most Forex brokers offer this feature.
Feeling secure with a broker is of major importance to a trader and should be validated before opening a trading account. Traders often need to contact a broker representative for clarification or additional information. Contact information should be listed on the landing page and should include telephone numbers and email addresses.
Live Chat offers immediate contact with an online rep and is available with most brokers. Brokers usually offer their clients a choice of different trading accounts. Accounts can differ according to the amount of money required to open the account, fixed or floating spreads, varying leverages and more. Bonuses can also be contingent on the type of account opened.
Brokers tend to provide a choice of accounts and their main difference may be the amount of the initial deposit. Deposits can be made in a variety of different ways, but credit cards and bank wires are the most popular methods with online payment systems gaining popularity. In most cases, there are no charges for opening an account with a broker.
What country is it based in? Will it be easy for you to get compensated in case things do not go as planned? How fair are the broker's trading conditions? Are spreads and commission low?
Does it offer leverage on fair conditions? Are overnight interest rate payments distributed honestly? How fast and seamless is the broker's order execution? Does the broker offer all currency pairs you would like to trade? Does it accept your preferred payment method? Are you comfortable with the trading platform? Is broker's support service knowledgeable? Is it honest in answering uneasy questions?
How long does it take the broker to respond to traders' issues? How reputable is the broker? How old is it? Does it have a good share of positive reviews?
Do those reviews look legit? Account Size Broker Rating Min. Position Size Payment Max. Choosing a Forex broker? You should be considering to open an account with one of the online Forex brokers if: You are totally OK with Internet-based trading. You do not mind accepting electronic terms of service instead of signing lengthy paper contracts. You wish to be able to trade with offshore FX brokers however, we still advise to go with a regulated company.
Diversity of choices is more important to you than a personal contact with your brokerage.