Forex Brokers

BrokersInfoMin. depositRating 
Regulated by:ASiC, BVI, FSA(JP), FSB, MiFID
Headquarters:Ireland
250$
9.8
review
Regulated by:BaFin, FCA
Headquarters:USA
$50
9.7
review
Regulated by:CySEC, IFSC
Headquarters:Cyprus
$5
9.6
review
Regulated by:CySEC
Headquarters:Cyprus
$250
9.6
review
Regulated by:CySEC
Headquarters:Cyprus
$100
9.5
review
Regulated by:ASiC, CySEC, FCA
Headquarters:Israel
$100
9.4
review
Regulated by:CFTC, NFA
Headquarters:United States
$2500
9.3
review
Regulated by:ASiC, CySEC, FCA, FSP, MiFID
Headquarters:United Kingdom
$50
9.3
review
Regulated ByASIC, FCA, MAS
HeadquartersUnited Kingdom
100$
9.2
review
Regulated ByASIC
HeadquarteredMelbourne, Austrlia
$200
9.2
review

How to choose best broker to trade forex

Online Forex brokers continue to gain popularity. Forex is easy to learn and with proper education it will not take long for you to see profits accumulating on your account. Gaining familiarity with technical and fundamental analysis and properly employing combination of different trading indicators lays the foundation of successful trading experience. It is without a shadow of a doubt that certain amount of success comes from knowledge and proper practical implementation of these studies.

However, knowledge and education may not be enough to guarantee successful trading result if you fail to do proper homework before opening an account with a forex broker of your preference. Forex is just one of many investment vehicles the trader can choose from, and like all other financial instruments losing is also part of the game. Understanding what your broker has to offer is part of successful start in trading on the foreign exchange markets as there are different variables to take onto consideration when scoping through numerous offers available on the current market, especially when the industry is getting overstocked with business entities offering forex trading services.

At one point some traders simply realize that everything could have been different had they displayed more vigilance when choosing a broker. One of the best ways to boost your trading experience is to identify your needs and long-term goals; do you need a demo account to do some practice with virtual cash? Do you know the difference between regulated and unregulated brokers? Can you afford to fund your account with whatever is the minimum deposit requirement set by the broker? This and may other questions are better be addressed beforehand. Below is the list of things that you may want to look for when choosing a Forex broker.

Things to consider when choosing a Forex broker.

Regulation and Security: Feeling that your money is in the right place is the first thing to consider when choosing a forex broker. Most of the Forex Brokers presented in LearnMarketonline forex broker review section are regulated or licensed by global or local financial authorities which implies adherence to certain practices and standards. One of the common requirements set by the regulators is to keep client’s money in special accounts segregated from company’s reserves.

Trading platform: The Forex trading platform offered by forex broker should also be seriously considered before deciding whether or not to open an account. The trading platform is used to place orders, apply overlays and indicators, test trading strategies and follow the market news. Some companies have amazing proprietary trading technologies while others rely on third party applications. Comparing the trading platform features across different brokers is a step every trader should take before opening an account.

Account Types: Most forex broker usually offer traders a selection of different trading accounts to choose from. Opening a higher account level usually requires the trader make and additional investment but entails additional options guaranteed to the account holder once the account is upgraded. Accounts can differ based on fixed or floating spreads, leverages, accessibility of additional assets and educational materials like forex trading signals and webinars. Bonuses and promotions are frequently be dependent on the type of account the trader has.

Educational Materials: The more you know, the better trader you will be. Some brokers place a strong focus on education and provide a host of different venues such as videos, seminars, webinars and more. Most broker websites post daily—sometimes weekly—news updates and analysis and many provide additional fundamental analysis of what is happening in the markets. Economic calendars list upcoming financial events around the world and different calculators help traders calculate margin interest, pips, profits and more.

Minimum Deposit Requirement: Some brokers require a minimum of $10 for opening an account while others have a substantial amount of $2500 to start. Taking this into consideration is an important factor to consider as well.

Deposit and Withdrawal Methods: Also, supported withdrawals and deposit methods can vary across different brokers; credit card and bank wires are still most popular options out there with online payment systems and digital currencies gaining momentum as well. Skrill, Neteller and Bitcoin payments are getting more and more popular.

Fees and Spreads: Opening an account with the forex broker usually incurs no charges or hidden fees. Many companies however have withdrawal/ deposit fee with additional fees incurred depending on the payment method selected for transaction. When deciding with which Forex broker to open an account, you should study this very carefully and accord special priority to the percentage of pips charged per each trade as this has the upper stake in the overall profitability of your trading activity.

Customer support: Traders often need additional assistance and may encounter issues when dealing with platform or managing personal account. Having a broker representative constantly available to assist you in any issue you may encounter is an important part of overall trading experience. Contact information should always be displayed in broker’s contact page and could include email addresses and landline numbers. Also, most brokers have live chats which enable traders to contact a representative online.

Demo account: Another important thing to consider is the availability of demo account. Demo accounts allow traders to test broker’s platform functionality on real online account without investing your  funds in it. The duration of free demo account availability can vary across brokers, and some brokers have platform rendered with limited functionality when in demo. Regardless of demo account usage terms, having a demo account is a great opportunity to grasp the concept of Forex trading and gain sufficient knowledge to start.

Currency pairs available: Most of the forex brokers have similar selection of currency pairs available.  There is literally no way for you to be in situation when after opening an account with a forex broker you realize that they don’t offer trading on EUR/USD or GBP/USD. So this aspect should not be taken seriously if you’re a beginner trader who is making fists steps of his trading journey. However, experienced traders and speculators of all sorts could take advantage of exotic currency pairs which not all brokers have. Look into this seriously if you belong to this group of traders.

Bonuses and Promotions: Bonuses and promotions are actively used by many forex brokers as part of marketing strategy and procurement of their clientele. Welcome bonuses or loyalty bonuses are common and can greatly increase trader’s account balance and provide much-needed flexibility and potential. Some brokers even go as far as offering friend referral programs, cash prizes or even organize trading competitions with cars or trips in the prize pool. Consider this option but stay vigilant if you see something which simply looks too good to be true.

Conclusions

In today’s rapidly changing world where new technologies are introduced faster than old ones become obsolete, Forex trading can offer a great opportunity to make money online. It has been gaining popularity among different types of investors, attracting individual and institutional traders in the equal measure. And while some regard forex trading as a way of raising extra income, others have turned it into full-time job and regard it a sort of financial freedom. Regardless of your goals and future plans, let’s face it that since its introduction in 1998 online forex trading has gained complete market dominance in the field of inline investment, mainly due to its general accessibility and relative simplicity compared to stock, futures, mutual funds and other more conventional investment vehicles.

With hundreds of brokers offering good services, the competition gets really tight making the task of choosing the right broker challenging and time consuming. To ease the process of selecting a Forex broker, selected professionals at Learnmarketonline.com have tested and reviewed dozens of top rated brokers and complied our findings in the list of what we believe are trustworthy, reliable, functional and reputable Forex brokers. So before making your selection and registering for an account, spend some time reading our Forex broker reviews so you have the best chance of becoming a profitable Forex trader.