Top forex broker 2021

A broker with smooth and efficient execution will ensure your success as a forex trader.

Free forex bonuses

Top forex broker 2021, top forex broker 2021.

Under the assumption that you have a stable internet connection and the market operates under normal conditions, the exact price you enter your trades is exactly where it should be – not a moment before or after. This is specifically crucial when you’re a scalper or someone who enter trades with a short-term goal in mind. Scalpers normally enter trades for just a minute or two and then exit their trades as quickly as they entered. When your broker has poor execution of trades, this may lead to losses instead of profits since your entry point is another defining factor in succeeding as a trader. One wrong entry point could lead to a loss instead of gain – and this is what you’ll learn as a forex trader. When you click buy or sell on a specific currency, the point you entered in should be your exact entry point. As mentioned earlier, the best forex broker should care about your success as a forex trader. Your broker should provide resources and education to help both your technical and fundamental analysis for a more accurate trade. In fact, it’s best if they provide news and current events for your fundamental analysis. These resources and education will help you gain more knowledge and strategies as a trader, which you can apply to your trades. Some brokers will even email you a weekly update on the movement of certain currencies you’re eyeing, whether it’s basic currencies or metals. Providing a wide array of materials is how you ensure your broker not only cares about you, but they want you to succeed. Some brokers will also hold live seminars and platform tutorials for a more effective coaching session on how to make it as a forex trader. A lot of people want to succeed as a trader, but few will have the right knowledge to make it through. Choosing the right broker will make sure that you have the necessary tools and materials to be equipped with the knowledge to succeed.

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Best Forex Brokers For Trading Currency in 2021

As a forex trader, finding the right broker is the most important aspect of your trading journey. Your broker can make your trading life much easier if you do it right. You can never truly predict the financial market completely, but a broker can help you gain the knowledge and expertise for a successful trading experience. When choosing a broker, you need one that genuinely cares about you and doesn’t just see you as their client or customer. It’s also recommendable to choose a regulated broker, just to be sure. In this article, we’ll be talking about tips for finding the best forex broker in 2021.

1. Your broker should be regulated

There’s a reason why choosing a regulated broker is important – it ensures security and reliability on your end. If you end up going for an unregulated broker, they can easily break the laws and take advantage of you. Unregulated brokers don’t comply with any rules whatsoever and they’ll behave in any manner they please. This is dangerous as if a serious issue arises with your broker, you can’t bring up the legality with an unregulated broker since they aren’t under any laws in the first place. If your money turns up missing or if any financial complications happen against your broker, you can’t sue them since they’re unregulated. While they’re not illegal, choosing unregulated brokers isn’t exactly a wise choice. To ensure both your safety and security, it’s best to go with a regulated broker instead. Before choosing a specific broker, make sure to do your research on whether they’re regulated or not.

Top regulated forex trading brokers for 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker

2. Your broker should have no transaction fees

One of the significant aspects of choosing the best forex brokers 2021 is payment transactions. The last thing you should worry about is how you’re going to get payments to and from your bank, card, or whichever method you most prefer. Unfortunately, some brokers charge a certain percentage or fee with every deposit or withdrawal fee so it’s best to choose those that don’t charge you for these. The right forex broker should encourage you to do transactions without much complications and hassle on your end. The specific reason brokers hold your funds is to facilitate your entire trading experience so there’s no reason to make transactions more complicated than it is – or charge a high amount with every deposit or withdrawal you make. We’ve mentioned above that your broker is supposed to make your trading life easier, not harder, and the same concept applies to the deposit and withdrawal aspect. You should also note that some brokers charge for inactivity fee for your account, so also be wary of those brokers.

3. Your broker should have efficient customer service

Out of all aspects, customer service is the one aspect that determines if your broker genuinely cares about you and your success as a forex trader. Brokers aren’t perfect and they also make mistakes, which is why customer service plays an important role in choosing the right broker. Brokers with a fast response time and efficient customer service will make your life so much easier, especially when responding to your concerns, inquiries, and questions. The competence of forex brokers dealing with your concerns and complaints reflects how efficient they are as your broker. Even if it’s as simple as asking for help with transactions, your broker should make your life easier by responding to your question immediately and with accurate information. There are even brokers that would call you and personally welcome you as their broker, which is an admirable feature if you find a broker like that. It makes you feel welcomed and supported, despite the uncertainty as a forex trader.

4. Your broker should offer flexible leverage

While there can be certain advantages with fixed leverage, flexible leverage allows you to change it accordingly, whether you’re going for low-risk or high-risk trades. High leverages are great as it allows you to trade several trades at once in your account, but it comes with the risk of losing discipline. It’s easy to overtrade with high leverage because you’re assuming that you can enter all the trades you want with your high leverage. Low leverage, on the other hand, gives you the discipline to enter just a few trades, but you can only enter a certain number of trades. If you choose a broker with flexible leverage, you control the leverage you set for your trades and not your broker. If you want to switch from high leverage to low, you can do that accordingly. Along the way, you’ll learn that leverage is a double-edged sword, which makes it a disadvantage if you choose a broker with fixed leverage because you have no control over that.

5. Your broker should offer several instruments

Not all brokers offer the same range of instruments, and this is something you’d want to be particular about if you want to expand your trading experience. Certain brokers are restricted to currencies and cfds, while other brokers offer a wide array of instruments such as futures, cryptocurrencies, indices, and the like. A wide variety of instruments will give you the flexibility you need as a forex trader. As you go along in your journey, you’ll realize that currencies are the least volatile you can trade within the financial market, which makes them perfect for beginners. However, you may want to start trading other instruments and with the right broker, you can do this. If instruments are that important to you, it’s best to choose a broker that gives you that wide range and most importantly, charges low to no commission for each trade. You’d also want to check the spreads as choosing the best forex broker is one with low spreads.

6. Your broker should have smooth execution

A broker with smooth and efficient execution will ensure your success as a forex trader. Under the assumption that you have a stable internet connection and the market operates under normal conditions, the exact price you enter your trades is exactly where it should be – not a moment before or after. This is specifically crucial when you’re a scalper or someone who enter trades with a short-term goal in mind. Scalpers normally enter trades for just a minute or two and then exit their trades as quickly as they entered. When your broker has poor execution of trades, this may lead to losses instead of profits since your entry point is another defining factor in succeeding as a trader. One wrong entry point could lead to a loss instead of gain – and this is what you’ll learn as a forex trader. When you click buy or sell on a specific currency, the point you entered in should be your exact entry point.

7. Your broker should provide accurate materials

As mentioned earlier, the best forex broker should care about your success as a forex trader. Your broker should provide resources and education to help both your technical and fundamental analysis for a more accurate trade. In fact, it’s best if they provide news and current events for your fundamental analysis. These resources and education will help you gain more knowledge and strategies as a trader, which you can apply to your trades. Some brokers will even email you a weekly update on the movement of certain currencies you’re eyeing, whether it’s basic currencies or metals. Providing a wide array of materials is how you ensure your broker not only cares about you, but they want you to succeed. Some brokers will also hold live seminars and platform tutorials for a more effective coaching session on how to make it as a forex trader. A lot of people want to succeed as a trader, but few will have the right knowledge to make it through. Choosing the right broker will make sure that you have the necessary tools and materials to be equipped with the knowledge to succeed.

8. Your broker should have low spreads

For most traders, spreads are the defining factor in choosing a broker. When you choose a forex broker that provides low spreads, this simply means you’ll spend less with trades. Spreads are the determining factor between the given price and bid price so a high spread broker would mean that this will cost you higher with each trade. Low spreads also determine lower volatility so as a beginner, choosing a broker with low spreads is the best option for you so you won’t feel as overwhelming when entering the financial market. Lastly, low spreads set you up with the low-risk trades for a more successful forex trading experience.

In conclusion, I hope this article was able to help you gain insight into the best forex broker to choose in 2021. Being a forex trader isn’t easy, which is why choosing the right broker will make your life a whole lot easier. With the right resources, education, low spreads, and adjustable leverage, you can have a smooth trading experience that will lead you to more profits than losses. It’s a bonus if your broker genuinely cares about your journey as a forex trader. With these tips, hopefully, you’ll choose the best forex broker in 2021.

Best worldwide forex brokers in 2021

The top 10 forex brokers in the world were determined based on global forex regulation, spreads and the best forex trading platforms. The companies that made the top 10 list were outstanding at a unique forex trading category.

Compare the top forex brokers in the world based on their size, spreads, trading platform and more.

Top 10 forex brokers in the world 2021

By regulator and features here is the list of the largest forex brokers

Pepperstone – best global forex broker overall

IC markets– top ASIC broker with lowest spreads

CMC markets – FCA broker with range of currency pairs

TD ameritrade – best forex broker for U.S traders

Forex.Com – IIROC broker for canadian traders

IG– best broker for beginners with DFSA licence

FP markets – top CYSEC broker with metatrader 4

Interactive brokers – MAS fx broker and stockbroker

FXTM – top FSC broker with highest leverage

Thinkmarkets – best FSCA regulated broker

Pepperstone is the best global broker

Pepperstone is considered the best global broker overall, as it’s a great option for all styles of CFD and forex trading. All the tools and features required to develop successful currency trading strategies are offered by pepperstone, including low spreads, the best trading platforms, a great product range and award-winning customer services.

Spreads and account types

Regardless of the subsidiary you register with, pepperstone offers two account types that are suited to different strategies and levels of trading experience. You can choose between either commission-free standard spreads or razor spreads where you pay a flat rate commission fee.

Razor account – great for active traders

If you want to execute day trading, scalping or automated trading strategies, pepperstone’s razor account provides an ECN-style trading environment with ultra-tight spreads. As shown below, pepperstone offers low spreads that most of the world’s best brokers fail to match. For commonly traded forex pairs like the USD/JPY spreads average 0.13 pips with pepperstone, much less than what brokers such as tradersway and XTB offer, which average 0.50 pips.

Because you gain access to institutional grade spreads that can be as low as 0.0 pips, you pay a flat rate commission fee on top of the spread. Metatrader users incur a fee of AUD $3.50 per side per 100k traded, while ctrader has a 7 unit charge per lot. With ECN-like spreads and low commission fees, overall trading costs are low for razor account holders.

Data taken from broker website. Accurate as at 05/01/2021

Standard account – great for new traders

Standard accounts are great for beginners as you can trade commission-free spreads, avoiding the need to calculate trading costs when you’re starting out and building confidence. Compared to other top brokers, pepperstone offers the tightest no commission spreads. For instance, the standard account holders can access spreads averaging 1.33 pips for the AUD/JPY, significantly lower than 4.90 pips at tradersway or 3.36 pips at fxpro.

Data taken from broker website. Accurate as at 05/01/2021

Trading platforms and market access

To access the broker’s diverse range of forex and cfds pepperstone clients can use choose either metatrader 4 (MT4), metatrader 5 (MT5) or ctrader as their trading platform. All are available as desktop trading platforms for PC and mac computers, mobile apps for ios and android devices as well as webtrader platforms for online trading.

Five different asset classes are available to trade being forex, commodities, shares, indices and cryptocurrencies. As well as major, minor and exotic currency pairs you can also trade currency indices such as the US dollar index (USDX), a weighted basket of six major currencies including the GBP, JPY and EUR.

Although the online broker offers access to over 150 financial markets, access depends on the trading platform you are using. For example, share trading only available on MT5 as it is a multi-asset platform, while ctrader and MT4 are predominately forex trading platforms.

Pepperstone is ideal if you want to focus on trading cryptocurrency. Spreads are competitive and commission-free for when trading crypto with pepperstone. Five CFD products are available (bitcoin, bitcoin cash, ethereum, litecoin and dash), with bitcoin spreads starting from $10.00.

Note: clients in the UK will not be able to trade cryptocurrencies as the UK regulator, the FCA, no longer allows crypto trading.

Whether you are trading forex, cryptocurrencies or share cfds, pepperstone trading platforms offer a great range of analysis and automation features to help you develop trading strategies and save time.

Trading tools:

Algorithmic trading with expert advisors (eas) on metatrader platform or cbots when using ctrader.

Social-copy trading via metatrader’s trading signals or third-party social trading services such as myfxbook, mirror trader and duplitrade.

Charting tools to perform technical analysis and fundamental tools such as an economic calendar.

Autochartist and add-on expert advisors and indicators (pepperstone’s smart trader tools) are free to download

Tier-1 regulators

As well as an excellent trading environment and product range, pepperstone is seen as safe and trustworthy as it’s overseen by top-tier financial authorities. The level of investor protection you receive as a pepperstone client depends on where you reside and the subsidiary you register with:

Pepperstone, UK: regulated by the financial conduct authority, maximum leverage of 30:1 when trading forex and negative balance protection (NBP) is provided.

Pepperstone, australia: regulated by the australian securities and investments commission (ASIC), no NBP or leverage caps, with a maximum leverage of 500:1 for forex instruments.

Pepperstone, dubai: regulated by the dubai financial services authority (DFSA), maximum forex leverage 50:1.

Pepperstone, EU (mainland europe): regulated by cyprus securities exchange (cysec), maximum leverage 30:1

Pepperstone gmbh (germany and austria): regulated by the federal financial supervisory authority (bafin), maximum leverage 30:1

Pepperstone, international: regulated by the securities commission of the bahamas, no investor protections such as NBP or leverage caps.

Note: clients in the UK should sign with pepperstone UK, clients in germany and austria should sign with pepperstone gmbh, clients in other mainland europe countries should sign with pepperstone EU.

Customer support

Pepperstone is known for its reliable and efficient customer service. Live chat, phone or email can be used to get in touch with the customer support team, with all contact methods available 24/6. The online broker has been recognised for its customer services for many years now, winning awards for the quality of trading support and relationship management provided by pepperstone.

Education

Pepperstone provides a range of free educational resources (such as webinars) to help you develop trading strategies and conduct market analysis.

Education	research
webinars and videos	market news
trading platform tutorials	market analysis and commentary
educational articles	economic calendar
glossary	trading guides
demo accounts	trading ideas

Another key educational resource is the broker’s demo account. As cfds and forex are complex instruments, trading comes with a high risk of losing money. Demos allow you to practise and build confidence in real-time currency trading conditions, but in a risk-free environment. The online broker offers trials for MT4, MT5 and ctrader with both standard and razor account pricing.

To open a real account with pepperstone, no minimum deposit is required, although the broker recommends at least $200.

Our rating

The overall rating is based on review by our experts

Best forex brokers 2021: trade currencies across the globe

Use the best forex brokers and make the most of the currency trading opportunities around the world.

The best forex brokers are where to turn if you want access to the attractive returns that can be delivered by trading currencies. Both novice investors and multinational institutions will buy and sell money each and every minute of every day using forex brokers in the hope of making a gain.

The very best forex brokers provide the opportunity to trade everything from the US dollar, euro, and british pound to the currencies found in far smaller countries. Whatever you want to trade, you’ll need to check that the platform offers the currency pairs that you’re interested in, and consider the trading fees that are levied too. The range of resources on offer, from analytical tools through to market data, are important as well, while novice traders should always look for a top rated forex broker platform that can provide the depth of guidance and support that someone just starting out will need.

If you’re wondering where to begin, this guide to the best forex brokers is here to help. By taking all of the above into consideration and more, we’ve identified the top rated forex broker overall, and further FX trading platforms that are best suited to different investors, and their varying needs.

But regardless of your experience or expertise, it’s vital to remember the risks that come with any level of foreign exchange trading. Over $5 trillion of currency changes hands globally every day, sometimes making for significant swings in currency values both up and down - fall on the wrong side and you could be staring at a sizable loss. Yet as with online stock trading, it is such movements that provide the opportunity to make attractive profits too. If you’re new to currency trading, you’re probably best to start small, and build up to larger trades as your understanding and expertise grows. But using the best forex brokers can certainly help too.

1. TD ameritrade: best forex broker overall

TD ameritrade

TD ameritrade is our choice as the best forex broker overall

Reasons to buy

Reasons to avoid

TD ameritrade comes on top among the best forex brokers thanks primarily to its well-regarded thinkorswim trading platform, and for the vast amount of trading tools it can offer. The platform allows forex to be traded just as you would trade options, equities and futures. It also supports more than 70 currency pairs, allowing experienced currency traders the option to try something new, and beginners to trade on the most common pairs.

Some 350 technical indicators are available to help you establish when the best possible time to make a trade is, while for the more experienced trader, the prophet tool can help estimate the future performance of a currency pair. When it comes to pricing, TD ameritrade is relatively straightforward. Forex currency pairs are traded in increments of 10,000 units and there is no commission - however, the cost of the trade is reflected in the bid/ask spread. The thinkorswim mobile app allows for trading on the go, while trade desk associates are on hand to assist day and night.

2. Interactive brokers: best forex broker for pricing

Interactive brokers

Interactive brokers is an affordable forex broker that offers great value

Reasons to buy

Reasons to avoid

If you’re an active currency trader wanting to trade a high volume, then interactive brokers is likely to be for you. It has some of the best pricing around, although it's worth noting that an initial deposit requirement of $10,000 might be a bit too rich for newer investors. The platform offers 23 trading currencies and includes a wide variety of tools to help monitor and analyze the 86 currency pairs. There are over 90 technical indicators too, all available to help you track currency performance either against another currency or an index.

In terms of price, interactive brokers charges a commission as a percentage of each trade you make. It uses a tiered structure, and if you trade less than 1,000,000,000 units a month, you pay 0.2 basis points for commission on the amount you trade – so on an order of 100,000, you’d pay $2.00. When you trade higher volumes, that commission decreases. At the lowest level, you pay 0.08 basis points. Interactive brokers also has some of the lowest spreads around, and sometimes with no markups at all.

3. Ally invest: best forex trading platform

Ally invest

Ally invest offers a customizable and easy to use forex trading platform

Reasons to buy

Reasons to avoid

Ally invest brings with it forex trading platforms that are customizable and easy to use, making it a good option for beginners and experienced traders alike. With 50 currency pairs and over 80 indicators, ally should have plenty to offer everyone, particularly as the minimum deposit is just $250.

Advanced investors are likely to benefit the most from the more sophisticated options available through the metatrader 4 platform, including systematic strategy programming and trading direct from the charts. Meanwhile, novice traders can make use of the practice trading account to get themselves up to speed before taking the plunge for real. Everyone is likely to find value in the research, economic calendar and real-time news that is on offer, while ally also offers excellent pricing, with no commissions on any trades - it makes its money from markups on the spread instead.

4. FOREX.Com: best mobile app for trading

FOREX.Com

FOREX.Com offers a great app for people who want to trade while on the go

Reasons to buy

Reasons to avoid

FOREX.Com has one of the best mobile trading apps we’ve seen, making it great for people who want to trade on the go. Trades can be placed and funds added through the app, with any changes made automatically synced with the desktop platform. There's all the news from the other platforms too, and real-time trade alerts.

FOREX.Com lets you trade over 80 currency pairs, and doesn’t charge any commissions - to make its money, the site marks up the spread on the currency pairs. And as you only need to make an initial deposit of $50 to start trading, FOREX.Com is a forex broking option that should be accessible to everyone, including beginners. That said, there's much for more experienced forex traders to like too, particularly if the need to trade strikes when you're away from your desktop.

5. OANDA: best for forex beginners

OANDA

OANDA is a great forex trading starting point for novice traders

Reasons to buy

Reasons to avoid

If you’re just starting to dip your toes into forex trading, we recommend looking at OANDA as a broker. It doesn’t have a minimum deposit or minimum lot size, which means your initial investment doesn’t need to be as large as with other brokers. It also means you're not risking several thousand dollars in the early stages of your forex trading career with a broker which requires you to trade in increments of 1,000 units.

OANDA’s platform is easy to use too, especially to set up a stop-loss on an order, which keeps you from being in a losing position for too long, while you can trade on more than 70 currency pairs, including some exotic options like the south african rand. There are over 65 technical indicators on which to base your trading decisions - this may be fewer than on many other platforms, but all the standard options that are useful for beginners are present. The one drawback for beginners is there aren't many tutorials or other educational resources, but if you have a basic forex trading knowledge and just want to get started, OANDA offers a great option.

6. Nadex: best for experienced traders

Nadex

Nadex offers an alternative route into forex trading

Reasons to buy

Reasons to avoid

Nadex is an exchange that allows forex trading to be conducted via binary options, call spreads and knock-outs, making it an excellent option for currency traders looking for something a little different. There's only one trading platform through which to place your trades, but it's simple to master, and accompanied by a demo account should you wish to try before you sign up. Knowing that what it offers is slightly out of the norm, nadex goes to great lengths to explain all the various trading options in great depth. And if you're still concerned about picking up the machinations of the platform, there's step-by-step guidance on site, and video tutorials, to help you through.

The opening deposit of $250 should make nadex accessible to most, while the fee structure is straightforward and clearly explained too - there's no broker fees to pay either. Where it lacks somewhat is in the number of currency pairs on offer and the range of technical indicators on show. However, if you know your way around forex, and want a different avenue through which to trade, nadex is certainly worth a look.

What is forex trading?

Forex trading involves the buying and selling of currencies, and is the largest and the most liquid market in the world. Forex operates 24 hours a day, five days a week, and it has no single, centralized market.

When you make a forex trade, you are buying and selling currency and, in essence, betting on the fluctuations in their exchange rates. For example, if you were to buy euros when the conversion rate is 1.25 U.S. Dollars for 1 euro then sell when the conversion rate is 1.28 U.S. Dollars to 1 euro, that difference of .03 represents your profit. Currency is usually traded in lots of varying sizes. A standard lot is 100,000 units of a currency, a mini lot is 10,000 units, and a micro lot is 1,000 units. A few forex brokers may offer nano lots, which are only 100 units, but typically traders buy in larger amounts.

Most trading occurs on major pairs, such as EUR/USD, USD/JPY, GPD/USD and USD/CAD, but having the option to trade different, more exotic currencies from smaller or merging countries can provide an opportunity to spread your investments around, diversify your portfolio, and potentially reap larger rewards from more volatile currencies.

The change in a currency pair’s value is measured in pips - this is the smallest amount that the value can change. Usually currency pairs are quoted out to the fourth decimal, and a pip is the change in the last number. For example, if EUR/USD is trading at 1.3300 and it moves to 1.3302, that is a movement of two pips. When pips are magnified by the size of lot, that is where the opportunity to profit emerges.

As the changes in currencies are usually very small, it might seem that forex trading will only be profitable for institutions or investors that can afford to buy large lots. However, this is where leverage comes in. Typically, a forex broker will offer you a margin account which can magnify the amount you have available. The ratio of the amount you borrow on margin and the amount you deposit is the leverage. Regulations mean that U.S. Brokers cannot offer more than 50:1 leverage.

Forex trading strategies

As with all types of investments, there are many different forex trading strategies. The breakout strategy, for instance, involves trying to identify when a trend might be forming, and looking for "price breakouts" that go beyond the boundaries where it normally moves. If the breakout is the start of a new trend and you're onboard, then you stand to make some money. More advanced strategies include carry trades, where investors look to profit from the difference in yield between two currencies, and not just the conversion rates.

Given the complexities of most forex trading strategies, and the volatility of the currency exchanges that provides the opportunity for both profit and loss, it’s always a good idea to test the forex trading strategies you intend to adopt before putting your money at risk. Most brokers offer demo accounts on which traders can practice, which will include tools that allow you to backtest your strategies.

Forex trading tools

The trading platform and the tools on offer are vital considerations when choosing a forex broker. When making our choice of the best forex brokers, reviewers tested the platform demos on offer and the mobile apps that can be downloaded, looking for platforms that are easy to use and provide analytic tools to help maximize trading performance.

The best forex trading platforms will let you create multiple watchlists to track different groups of currencies, while some only allow for one or provide a single pre-made watchlist. Some platforms provide the option to create alerts that will notify you when a currency pair reaches a certain price or meets some other criteria. Ideally, these will be email or text alerts, although some brokers only offer notifications inside the platform. There also others that have no alert options at all.

The best forex brokers will also provide charting tools to help you track the performance of a currency pair. These tools include technical indicators, a crucial part of planning and executing any trading strategy.

Forex trading costs

The main cost of forex trading lies in the bid/ask spread. This is the markup a broker applies and is derived from the difference between the bid (or selling) price and the ask (or buying) price. The spread is usually the difference in the last two decimal places of the exchange rates. Forex brokers refer to this difference as pips. Since exchange rates are constantly fluctuating, spreads often do as well, especially when a particular country’s economic fortunes take dramatic turns for the worse or the better.

Some brokerages charge commissions on each trade. These brokerages often have tighter spreads but may be better for higher volume traders. Commission-based brokers also tend to require the highest initial deposits.

Forex education & support

Investment education and platform training is essential to be a successful forex trader. In addition to standard platform training manuals, the best forex brokers offer video tutorials and step-by-step guidance as to how to use all of a platform’s features.

Keeping on top of events in the markets and the countries where you're trading is essential too. The best forex brokers will have weekly webinars on their sites and regularly updated blogs that provide insight and context on the forex markets, and the factors that influence them. There might also be explanations of trading strategies and latest thinking as to how to exploit the currency markets for profit.

Forex signals

A forex signal is a notification or suggestion to enter a trade, usually when a currency pair reaches a certain price at a certain time. Forex signals are either generated by an analyst or an algorithm and, besides price and time, there are a variety of technical indicators to pay attention to as well. Forex signal services can be free or subscription-based, but most are geared toward short-term trades and not long-term trading strategies.

Many forex signal services promise results, but the market is constantly shifting, and forex is especially susceptible to global events - it is vital to consider that promised results won't always come to fruition. Be very wary of any service that makes guarantees about profits.

Traders can choose between manual and automated signals. A manual signal requires the trader to place the trade himself or herself, whereas automated signals can integrate with your broker's platform and fill the trade automatically. While most forex signal services with automated trading require a subscription, many will also offer a free or reduced price trial period, so you can try the service and see if it works for you.

Top 5 ASIC forex brokers in 2021

Are you looking for reliable forex brokers regulated by ASIC? Search no further – you’ll find the complete list of the top 5 ASIC forex brokers in 2021 in this article.

January 5, 2020 | atoz markets – the forex market is the world’s largest trading market, where nearly $5 trillion traded daily. It is a legitimate trading market where the world’s currencies are traded.

While forex is not a scam in itself, there are many scam forex brokers in the market. Before we show you the top five ASIC forex brokers in 2021, let’s first understand what ASIC is and why you should choose ASIC regulated forex brokers.

What is ASIC?

The australian securities and investments commission (ASIC) is one of the oldest regulators in the market, having started off its journey as the australian securities commission (ASC) in 1989. Over the years, the agency witnessed a host of changes in the way they operate by adding multiple industries under its regulatory oversight and was renamed in 1998 as the australian securities and investments commission.

The ASIC is responsible for overseeing the activities of a wide range of industries ranging from insurance companies, corporate governance, securities and investments, fund management, credit organizations, and other financial services.

ASIC regulated brokers are now considered to be one of the best in the industry due to the advanced regulatory oversight and several reforms that enabled ASIC to become a highly preferred regulatory agency. In its latest avatar, the ASIC is responsible for regulating the australian stock exchange and acts as an independent regulatory organization for all market participants, including brokers as well as investors.

That said, why should you choose ASIC regulated forex brokers?

Why should you trade with ASIC forex brokers?

There are few genuinely strong regulators in the world; the UK’s financial conduct authority is one, the cyprus securities and exchange commission is another, and most would agree that ASIC is also a member of this group. ASIC has already built a reputation for guaranteeing trader security and dealing harshly with bad brokers, but recent reports show that ASIC is planning an even stricter regulatory environment in the coming months. We will talk about what that environment might look like in more detail below, but first, let’s look at the current benefits of trading with an ASIC-regulated broker.

Segregated accounts: like most good regulators, ASIC ensures that all brokers keep client funds segregated from broker operational funds and in tier 1 australian banks.

No leverage limit: there are currently no limits on maximum leverage offered by brokers, though this is likely to change in the next year. While leverage limits can protect traders, especially beginners, it can make scalping strategies more difficult.

Dispute resolution and customer satisfaction: the australian financial complaints authority (AFCA) handles all disputes between traders and brokers and are known for efficiency and fairness. Importantly, brokers are responsible for the cost of the resolution and not the trader – this provides an incentive for brokers to respond quickly and fairly to all customer complaints. Unsurprisingly, ASIC forex brokers are consistently rated very highly for customer satisfaction.

No conflict of interest: ASIC has banned all forex brokers from being a counterparty to their client’s trades, furthermore all brokers are required to offer a fast and efficient platform with no broker interference. It is perhaps as a result of these restrictions that australia hosts many of the world’s best ECN brokers.

How to choose ASIC regulated forex brokers?

All ASIC forex brokers are safe due to the strict regulatory environment in which they operate, and most of them are very strong all-round. But it is essential to look at the detail of each broker to find out what differentiates them from each other. When looking for an ASIC-regulated forex broker, it is important to judge them on the following areas:

Broker type: most brokers are either ECN/STP or market makers, but some can be a combination of both. You will find that many brokers will provide an ECN/STP service on their higher-deposit account types while acting as a market maker for their cent and standard accounts. Many of the best ASIC regulated brokers are ECN/stps.

Trading conditions: this includes what kind of spreads are available, how much leverage is offered, and how many currency pairs are available. These factors will directly impact your profit or loss, so you don’t want any surprises.

Trading platform: metatrader 4 is still the industry standard, but many brokers offer metatrader 5 and/or their proprietary platforms. ECN/STP brokers will often support ctrader as it is built specifically for market execution and only allows for minimal broker interference.

Minimum deposit: this changes by account type for many brokers, with higher minimum deposits often linked to better trading conditions. We will always highlight the minimum deposit available regardless of the account type.

Deposit and withdrawal methods: all brokers accept traditional payment types such as debit/credit cards and bank transfers, many accept online payments through skrill and neteller and some will also accept bitcoin. Always check for deposit and withdrawal fees, a few brokers charge a percentage fee for some withdrawals methods, making large drawdowns very expensive.

Now we know more about the australian financial watchdog, its functions, and benefits. Who, then, are the top 5 ASIC forex brokers in 2021?

Top 5 ASIC forex brokers in 2021

The brokerage firms below are atoz markets’ top picks for the best ASIC regulated forex brokers in 2021. They are:

Pepperstone

Axi

Royal

Vantage FX

Moneta markets

1# pepperstone

Pepperstone is an australian forex broker established in 2010 which has enjoyed a remarkable growth rate since its founding. In less than a decade, it grew its client base to over 57,000, with an average daily transaction size of $12.55 billion.

Tight spreads and fast execution speeds make this broker an excellent choice for scalpers and automated trading solutions. Over 150 assets are available from three trading platforms, regulated by industry heavyweights- ASIC in australia, the FCA in the U.K., and the DFSA in dubai. With numerous global awards, this broker possesses the proper fundamentals to further increase its market share. Pepperstone will achieve this through the noted scale of a fintech company and the agility of a startup.

Pepperstone pros

Leverage available for both forex and cryptocurrency trading

Fast and fully digital account opening

Seamless and free deposit and withdrawal

Excellent customer service

Wide range of educational tools and courses that both experts and beginners

Pepperstone cons

Not currently available to U.S. Traders

No investor protection for clients outside the EU & UK

Open pepperstone live account

2# axi

Founded in 2007, axi (previously known as axitrader) is an award-winning, ASIC regulated forex broker. Axi is a wholly-owned subsidiary of axicorp financial services pty LTD, based in australia. They offer tight spreads, low commissions, good execution, and a range of different markets. Advanced platforms and trading tools add to the overall online trading experience.

Axi has signed a multi-year global sponsorship as the ‘official online trading partner’ of the english premier league club manchester city FC, a move the brand hopes will increase brand awareness for the company’s new name.

Axi pros

Low forex fees and no inactivity fee

No withdrawal and deposit fees

Segregated client funds

Fully digital account opening

Axi cons

Open axi live account

3# royal

Royal is a brokerage company established in 2006 by a team of trading professionals to offer optimal trading conditions, tailored services, and support. This broker has made a name in australia with the ASIC license to offer services using the latest technological advances, and contemporary methods.

Originally, the broker headquarters in lebanon, but due to the rapid spread in the world, the company also established an office in cyprus, while fully complying with applicable regulations.

Royal pro

Fast account opening

Regulated by ASIC and cysec

Negative balance protection applied

Cross border licenses and global coverage

Royal cons

Open royal live account

4# vantage FX

Vantage FX is a leader among australian forex brokers and gives traders the ability to access the forex markets, cryptocurrencies, indices, commodities, and shares cfds.

The company has received consistent recognition as a secure, safe forex broker that provides highly transparent access to the markets.

Vantage FX was founded back in 2009 with the founders consisting of a highly specialized team with experience in technology, forex, and finance. The goal behind vantage FX was to assist clients with pursuing financial goals by providing powerful trading platforms, transparent forex market access, award-winning customer service, and exceptional execution speed.

Vantage FX pros

Strict regulation

Low fees

Super fast account opening

Segregated client funds

Seamless deposit and withdrawal

Vantage FX cons

Open vantage FX live account

5# moneta markets

Launched in 2019, moneta markets is a trade name of vantage international group limited which is authorized and regulated by ASIC as well as the cayman islands monetary authority (CIMA).

The broker offers access to more than 300 tradable instruments including FX currency pairs, stock indices, commodities, and share cfds. This brokerage firm also offers investor protection by holding client funds in segregated accounts with the national australia bank and by offering facilities to help clients avoid negative balance in certain situations.

Moneta markets pros

A regulated forex and CFD broker high leverage ratio of up to 1:500 free demo account user friendly trading platform low trading fees swap-free trading account is available

Moneta markets cons

Open moneta markets live account

Key takeaway

Now that we understand that the ASIC is an important global regulatory agency that gives out licenses and protects the forex traders, you can go ahead and select one of these recommended top 5 ASIC forex brokers in 2021 and start trading safely because they protect your interests on the highest level.

However, what can you do in case of a complaint against ASIC regulated forex brokers?

ASIC entertains complaints clients of regulated forex brokers through the various federal agencies and also encourages companies to resolve issues at the broker level. In case the investor is unable to obtain a favorable response, he/she can also approach the financial ombudsman service or contact a higher authority such as the court for resolution of the matter.

Nevertheless, australian forex brokers are highly proactive in their approach and usually, resolve customer issues by working with their clients on finding a good resolution. The ASIC guidelines have indeed helped in achieving low levels of scams, which help traders to enjoy absolute peace of mind while dealing with ASIC regulated FX brokers.

Think we missed something? Let us know in the comment section below.

Best worldwide forex brokers in 2021

Compare the top forex brokers in the world based on their size, spreads, trading platform and more.

Top 10 forex brokers in the world 2021

By regulator and features here is the list of the largest forex brokers

Pepperstone – best global forex broker overall

IC markets– top ASIC broker with lowest spreads

CMC markets – FCA broker with range of currency pairs

TD ameritrade – best forex broker for U.S traders

Forex.Com – IIROC broker for canadian traders

IG– best broker for beginners with DFSA licence

FP markets – top CYSEC broker with metatrader 4

Interactive brokers – MAS fx broker and stockbroker

FXTM – top FSC broker with highest leverage

Thinkmarkets – best FSCA regulated broker

Pepperstone is the best global broker

Spreads and account types

Razor account – great for active traders

Data taken from broker website. Accurate as at 05/01/2021

Standard account – great for new traders

Data taken from broker website. Accurate as at 05/01/2021

Trading platforms and market access

Note: clients in the UK will not be able to trade cryptocurrencies as the UK regulator, the FCA, no longer allows crypto trading.

Trading tools:

Algorithmic trading with expert advisors (eas) on metatrader platform or cbots when using ctrader.

Social-copy trading via metatrader’s trading signals or third-party social trading services such as myfxbook, mirror trader and duplitrade.

Charting tools to perform technical analysis and fundamental tools such as an economic calendar.

Autochartist and add-on expert advisors and indicators (pepperstone’s smart trader tools) are free to download

Tier-1 regulators

Pepperstone, UK: regulated by the financial conduct authority, maximum leverage of 30:1 when trading forex and negative balance protection (NBP) is provided.

Pepperstone, australia: regulated by the australian securities and investments commission (ASIC), no NBP or leverage caps, with a maximum leverage of 500:1 for forex instruments.

Pepperstone, dubai: regulated by the dubai financial services authority (DFSA), maximum forex leverage 50:1.

Pepperstone, EU (mainland europe): regulated by cyprus securities exchange (cysec), maximum leverage 30:1

Pepperstone gmbh (germany and austria): regulated by the federal financial supervisory authority (bafin), maximum leverage 30:1

Pepperstone, international: regulated by the securities commission of the bahamas, no investor protections such as NBP or leverage caps.

Note: clients in the UK should sign with pepperstone UK, clients in germany and austria should sign with pepperstone gmbh, clients in other mainland europe countries should sign with pepperstone EU.

Customer support

Education

Pepperstone provides a range of free educational resources (such as webinars) to help you develop trading strategies and conduct market analysis.

Education	research
webinars and videos	market news
trading platform tutorials	market analysis and commentary
educational articles	economic calendar
glossary	trading guides
demo accounts	trading ideas

To open a real account with pepperstone, no minimum deposit is required, although the broker recommends at least $200.

Our rating

The overall rating is based on review by our experts

Best forex brokers 2021

Edward kendy reviews and ranks the best forex brokers.

Below is ranking of what we think are the best forex brokers overall.

Pepperstone – awarded as the “top forex broker overall“

XM – best MT4/MT5 forex broker

XTB – best CFD broker

Forex.Com – best for US traders

Etoro – best social trading platform in the world

Best forex brokers for forex trading

Pepperstone – best overall broker 2021 and best for range of offerings

Pepperstone is a melbourne-based aussie FX broker that provides traders with super fast trade execution via multiple trading platforms, including ctrader and both metatrader 4 and metatrader 5 . Clients can choose from over 150 tradable instruments across a wide range of financial asset classes, including over 80 forex currency pairs, cfds on cryptocurrencies, precious metals, and stocks.

Pepperstone allows client to choose from a wide range of account types. Most preffered is their RAZOR ACCOUNT with more than competitive forex spreads.

To open an account with this broker, a client needs $200 minimum deposit. One can choose from a comprehensive list of local funding methods, including the obvious mastercard, visa, skrill, bank transfer, paypal, and neteller. Standard debit/credit deposit fees may apply.

Edward kendy and his team ranks pepperstone as a nbr.1 FX broker for 2021, mainly due to its ultra low spreads, numerous tradable instruments, blazing fast trade execution time and extensive educational resources.

Average spreads

Account currencies: SGD, USD, EUR, GBP, AUD, CHF, HKD, NZD, JPY

Non-dealing desk broker

Access to over 80 currency pairs

Leverage up to 1:500 (under ASIC license)

Spreads from 0.0 pips (on razor account)

Account types: razor, standard, islamic, MAM/PAMM

Demo account free

Cfds on stocks, cfds etfs, indices, cfds on commodities

Hedging / scalping trading strategies allowed

MT4 / MT5 / ctrader platforms

Only forex and cfds

Stocks trading only as cfds

Not available to USA traders

XM.COM – best for trading experience

XM group is a daughter company to trading point holding, which is a global CFD broker that was established back in 2009.

Nonetheless, XM also has a global footprint and is regulated by TIER 1 financial authorities: the australian securities and investments commission (ASIC), the cyprus securities and exchange commission (cysec), TIER 3 financial authority international financial services commission of belize (IFSC). XM group is one of the safest forex trading platforms to trade on.

XM also features one of the lowest minimum deposit requirements in the whole industry of just $5. Additionally, no deposit bonus of $30 is available in case you are residing outside of EU/UK territory. Opening an new trading account is very fast and easy to do. It also comes with a variety of online educational tools to help build your trading skills.

XM’s product portfolio is quite limited, as it only offers forex and handful of cfds on cryptocurrency for its clients. You may be charged an inactivity fee if you do not trade for more than 3 months in a row.

Account currencies: USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR.

No requotes, no slippages policy

Minimum deposit $5

No deposit bonuses $30 (not for EU)

56 currency pairs available

Low spreads from 0 pips

Fast trade execution

Support in 25 languages

Competitive bonuses

Scalping is allowed

MT4 / MT5 or webtrader

Choose from 11 base currencies

Focused mostly on forex

Not available for USA traders

No forex options

No real stocks available (only cfds)

XTB – best for beginners & solid free education

X-trade brokers also known as XTB allows you access to a wide range of financial markets, including forex, CFD cryptocurrencies, CFD indices, thousands of real shares without commision, CFD on preecious metals, and commodities. X-trade brokers trace their origin back to central europe in poland. The XTB company is regulated by the tier 1 FCA ( financial conduct authority). XTB is also publicly listed on the w stock exchange.

XTB’s forex spreads, however, have consistently been better than average. Their xstation 5 is a multiple award winning platform and allows you access from both mobile and desktop. In our opinion xstation 5 is far better than meta trader 4 for most traders.

How to choose a forex broker

What are the best forex brokers ?

The answer is there isn’t one which is the best for everyone but if you take into consideration the points below when choosing one, you will find the best forex trading company that will accomodate to your trading style.

Let us save you lot of time searching and headache! We did the research for you, you will thank us later for!

1) regulation & license

Despite the regulation, there are still many crooks in this business, which can cost you lot of money!

If you trade with a regulated broker, you will gain protection in terms of the safety of your money and the broker will have guidelines on the way your account is dealt with to ensure you get the best service and you can contact the regulatory to settle any disputes you may have.

For example, if you are european union resident, then you should know that any reputable company that operates on european union market should be licensed at least by cyprus cysec regulatory or by the FCA UK.

Besides cysec, the NFA in the USA and the FCA regulated forex brokers registered by the financial conduct authority of the united kingdom are widely seen as the most serious forex companies in the world, although there are now many others, as regulation spreads to more areas of the world. Another well respected regulatory body is the australian securities and investment commission (asic.Gov.Au), we can say that ASIC regulated forex brokers are one of the most reliable companies and usually offer the lowest spreads on the market and the fastest trade execution times, this is mainly due to the fact that australian retail fx market is extremely competitive.

Always aim to choose a regulated forex company, so for example if you live in south africa then you definitely want to choose one of the best south african forex brokers which are regulated by an FSCA regulatory agency. In case you are residing in dubai, then go with the best forex broker in UAE that is DFSA regulated.

KEY TAKEAWAY:
” there is no need to deal with an unregulated forex trading companies so please don’t even consider them! “

2) customer support

Find out what kind of support your potential broker provides.

Do they hide behind anonymous mailboxes or have a real support center in your mother tongue that you speak?

Is their support center located in the same time zone as you,is it somewhere in europe or on the opposite side of the globe ?

Do they have a customer support telephone line where they can be contacted for technical problems? Do they provide online chat support?

Will you be assigned a personal advisor to whom you can contact with trading questions at any time?

For example, etoro provides based on our experience really high quality customer support in 24 languages, including free online forex training.

Read here our comprehensive and probably the most complete etoro review including video tutorials.

3) negative balance protection

In case you posses losing trading positions in your fx trading account, this protects your whole forex trading account against negative balance. It protects you as a retail trader on a per account basis. Meaning, your account will not go into debt, which could potentially happen to many inexperienced traders. Since the forex market can become very volatile in a matter of minutes, the NBT allows you to better manage volatility without having to worry about going into debt!

However you can relax in case you signed up through any of the recommended forex trading companies on this website because ….

As of 1st august 2018 the negative balance protection is mandatory for all retail trading accounts for forex companies that are regulated by the european regulators like cysec or british FCA!

4) your previous experience and trading style

First of all, you should think about your trading style and choose a platform accordingly:

Are you a complete newbie in forex?

Will you trade the most popular currency pair of EURUSD or exotic currencies?

Do you have large capital or do you require a mini / micro account?

Do you use mobile phone for trading?

Do you depend on forex signals?

Are you going to scalp the market?

In case you are about to start trading forex in saudi arabia you will most probably need an islamic account which provides you interest free trading.

5) broker’s financial standing

How much capital does the forex company have behind it – in other words – how strong is its balance sheet? You should take this into consideration when choosing a broker and also the length of the time they have been in business. A broker with a strong balance sheet which has been in business for many years is probably going to be a good broker to deposit your money with. You should always deposit your hard earned cash with a financially strong brokerage only.

6) forex trading platforms – get the most out of your trading

The forex trading platform is also a consideration in terms of its smoothness of operation, reliability, number of currency pairs offered and other extras such as news and technical charting tools. You can easily find out how good the trading platform is by simply opening a demo account and seeing if you like the services.

〉〉 webtrader and ios android trading apps

Almost each forex broker is now offering its own webtrader platform and mobile app for trading. These platforms are containing very basic trading functions and basic charting possibilities. On the other hand, it runs under almost any internet browser and requires no download and installing. The only thing you literally needs is a PC/mac with internet connection or smartphone with installed app.

〉〉 metatrader 4

If you are really serious about trading forex, then you should definitely look for fx broker that is allowing you to trade with metatrader. Metatrader is a standard industry platform and is the most well known and most commonly used and offers security, reliability and a number of analytical features and most brokers will allow you to use it.

Metatrader 4 is used mostly by forex traders, while 5 includes besides fx also ETF, commodities etc.

While many traders want to trade themselves there are many who want to get help and there has recently been a huge rise in social fx trading.

There are many social trading platforms and the concept is simple – you can follow other traders in the network and copy their trades and hopefully make money following their trading signals.

Traders online have been swapping ideas and trades in forums, blogs and social networks for a long time and the idea of following successful traders in a trading network is a logical progression and the growth of this segment of the trading industry is huge and the number of traders participating and the dollars amounts transacted are staggering – let’s take a look at a couple of examples.

Etoro social network is huge with over 2 million traders using it. These platforms are two of the biggest but the idea of following other traders is growing at a rapid rate and new platforms are coming online all the time. For example they allow traders to buy bitcoin in UAE safely.

Most forex brokerages claim their forex trading platform is the best but in terms of the top platforms there is not to much between them and which you like will come down to the services you specifically require as a trader.

TIP: the best way to find out how good a platform is you should try it on a practice account!

7) maximum leverage

The leverage brokers offer vary but they all give you more leverage than you really need and 500:1 leverage is not an advantage! Most experienced forex traders only trade with leverage of 10:1 and all the top brokers, will give you this level of leverage. For example in asia there are some malaysia forex brokers even offer 888:1 maximum leverage. On the other hand, forex corretores in brazil usually offer between 300:1 to 400:1 as this is the most frequently required leverage on brasilian retail fx market. Forex brokers in japan restrict the maximum leverage to only 25:1 due to regulatory requirements.

However the ESMA (european security markets authority) has announced the restrictions on leverage that affects all retail traders residing in european union. As of 1st august of this year no retail forex trader from EU will have more leverage than 30:1 for major currency pairs and 20:1 for

8) price quotes and pip spreads

〉〉 PIP spread

Most of the top trusted forex companies will give you tight pip spreads on all the majors, although there may be more variance on the cross currency pairs. If you are day trader, pip spreads need to be tight, if you are a long term trend follower where a pip a trade will not impact on profitability. You can also check out the quotes offered and price feed but most of the brokers we recommend on this site will have excellent quotes and tight pip spreads.

〉〉 swaps

Sometimes you will have to pay so called swaps overnight fees for keeping the trade open overnight. The cost will depend on the interest rates etc and varies by currency pair and the type of trade whether you go LONG or SHORT. If you are of islamic faith, you can get SWAP free islamic account! Many of the best forex brokers in singapore offer that option.

〉〉 other fees

Some companies charge you account inactivity fees, or withdrawal fees (usually around $20-$50 per withdrawal up to a certain threshold).

9) forex demo account

Always check whether they will allow you to open a forex demo account where you can check how their platform works and get to know it. It is important to know when their demo is valid, some companies only provide a demo platform for a fixed period , that is, the platform is automatically deactivated for example after 30 days. Some companies will allow you to trade on your demo account indefinitely, and you can start trading sharply just when you feel that you know the platform perfectly.

10) minimum deposit

The minimum deposit will vary between online currency brokers some take a $100 dollars minimum and some will be thousands and you need to pick a broker in line with your amount of risk capital. Bigger accounts can of course offer you tighter pip spreads than smaller ones but generally, the difference is not too big and both large and small traders can find a company which will give them a competitive service.

11) deposits and withdrawals of cash & support

Check the deposit and withdrawal features and how quick and easy it is to top up your trading account and also support in terms of operation of your trading account and its best its 24 hour support which all the big forex brokerages do.

12) forex bonus

Many brokerages offer a forex bonus in relation to your deposit but be careful with these because, many have conditions attached to them which mean you have to make a certain number of trades in a set period to qualify for the bonus and many we have seen, make the amount of trading signals you have to transact so big, you are unlikely to make any money! If you are a serious trader, who offers the best trading bonus on your deposit, should not be a major consideration, however in case you are interested we encourage you to check hotforex review and XM offers.

13) market maker or ECN/STP ?

According to a lot of traders, market makers steal your money but if they are regulated this is not the case, the trader is normally just upset he lost. Market makers, don’t have to steal a clients money because they work on the odds that 90% of traders lose money over time so there profits are good over the long term.

ECN brokers are another level of brokerages who utilize electronic communication network which can guarantee almost interbank rates and tight spreads.

Market makers can offer great spreads and services which are as good as a broker who offsets so if the market maker is regulated and you like them, by all means trade with them.

14) news, research and trading signals

There are many brokerages who set themselves up as FX brokers for beginners and try to tempt traders to deal with them by offering dealer support, research and even trading signals and systems to give the trader trades – DO NOT take this into consideration when choosing a platform!

The research is generally terrible and reflects the herd and companies who give you trades, are unlikely to make you money, as they have a conflict of interest – they make money when you trade or lose. The trading systems and signals are the same as a broker assisted account only automated and will not make you any money either. So help in the form of trading currency pairs from a broker is a complete waste of time.

In conclusion…

If you follow the above tips for choosing the best forex platform, you will find one which can give you a window to global currency markets and allow you, to apply your strategy in the world’s most exciting investment – trading global currencies for profit!

So, let's see, what was the most valuable thing of this article: fxdailyreport.Com as a forex trader, finding the right broker is the most important aspect of your trading journey. Your broker can make your trading life much easier if you do it right. You at top forex broker 2021