Top Forex Brokers for 2021

Best Forex Brokers Guide

Updated October 14, 2021

Forex Brokers

Investors who want to enter into Forex trading should start by knowing the fundamentals of currency trading and the dangers and rewards that come with it. Everyone can trade Forex, regardless of their experience or background. While understanding how it works is essential, and to make a profit requires allot of education and learning of technical analysis tools. You can start with a smaller investments as a new Forex trader and gradually learn by gaining experience over time.

Growth Of Forex Trading in 2021

2021 has been a fantastic year for all Forex traders across the globe. The coronavirus pandemic and lockdown has enhanced Forex trading activities which have significantly increased in volume with so many additions of new traders The Forex market has been going through quite a several challenges all over the world due to a reduction in the dip volume. Different parts of the world experienced brokers closing their offices mainly because of regulatory issues. Due to the outbreak of covid 19, which resulted in lockdowns and restrictions of movement. The financial markets reacted and thus led to many trading opportunities in various assisted. As a result of the high volatility in the Forex market, traders began to increase their exposure to utilize the chance of new trading opportunities; due to this, Forex brokers were able to register higher volumes and new clients.

Forex Market Trends in 2021

The coronavirus pandemic greatly impacted the foreign exchange market. The pressure on the US dollar is still intense, and there is a high probability that it would drop by another 5% or 10% but not to the levels seen in 2008.

The Australian dollar at the end of 2020 was still strong and secured due to the interest rate. The UK pound is pressurized due to the UK struggle to subdue the new variants of coronavirus, which might increase the pressure on the company’s economy. The pandemic remarkably provided significant support for the Euro because traders laid more focus on the issues of the US Dollar. The pandemic Covid 19 has significantly distorted the world economy and has made a massive impact on Forex trading.

Which Broker Is Best For Forex

Low Forex fees and easy account opening. Low spreads and super-fast order execution. Spreads from 0 pips with fast order execution. One of the best CFD trading platforms

1. eToro - A best social trading platform available to Forex Traders with over 20 million users worldwide.
2. XTB - Forex trading fees are very low with XTB.
3. Avatrade - Good Forex and CFD broker with some tremendous technical research tools.
4. IC Markets - IC Markets offer Forex traders some of the best available spreads with very fast order execution speeds.
5. RoboForex - No minium deposit, reduced spreads from 0 pips, high leverage available up to 1:300.
6. Plus500 - Good broker for trading CFDs.

What Is Forex Trading?

Forex brokers are often referred to as foreign exchange brokers. These brokers provide assistance to traders seeking opportunities to trade foreign currencies on a regular basis and make money. Forex brokers usually work closely with large banks and other financial institutions. When traders use a broker, they are usually assigned one or more traders to execute their trades. Forex brokers usually have an extensive database of trading transactions, making it easy for them to place trades on your behalf.

The term Forex is derived from the words foreign and exchange. The foreign currency trading markets include currencies from all over the world. The term Forex trading is used to refer to the process of trading currencies. These markets have been open for approximately 24 hours every day, providing traders with a wide variety of opportunities to participate. Understanding how the Forex markets operate and how to increase your chances at making more money while minimizing your risk is the goal for anyone looking to become involved in this market.

The Forex trading market decides international exchange rates for each currency. It consists of all different aspects of trading, buying and selling currencies at current or decided prices. It is usually the role of banks to help make these decisions on behalf of their customers. This helps the market to keep constant competition among traders.

Forex Brokers work as intermediaries between investors, banks and other Forex traders. These brokers identify potential Forex trading opportunities and help in buying and selling currencies on the same market. The Forex market is an over-the-Counter or global market for the trading of foreign currencies.

This market involves all aspects of purchasing, selling and trading currencies in current or predicted values. Most traders do not understand that the Forex market works on margins. Traders lose money on currency exchanges when market conditions are unfavorable to carry out their trades.

What Is A Forex Broker?

A Forex broker is a professional trader or an investor who buys and sells currencies on behalf of his clients. The foreign exchange marketplace is actually a worldwide decentralized or over the counter exchange for the buying and selling of various currencies. This currency marketplace determines international exchange rates for each currency based on speculations of supply and demand. Banks, private traders, and web-based brokers are the three types of Forex brokers.

A decent Forex broker should offer a diverse set of trading tools and possibilities. They should be able to provide a wide range of trading options such as Forex day trading, Forex managed accounts and Forex leveraged trading options. Brokers also offer tips and trade updates through various media such as emails, faxes, voice mails and websites. It is important for investors and traders to look for these tips and trade updates regularly.

While investors can take advantages of demo accounts at most of the Forex brokers, it is important to find the right Forex broker to work with. You should first check with your local stock exchange to find out the best Forex broker in your area. Then, check online to find out the list of top Forex brokers in the world. You can check reviews for each of them on the Internet to know how the brokers perform when in the Forex trading market. By checking reviews for each of the Forex brokers, you will be able to choose the best one that meets your needs.

Understanding The Forex Broker

A Forex broker is actually a commercial Forex broker or a private currency speculator. They trade on behalf of individual traders, banks, financial institutions and other large investors. Traders usually use them in order to trade currencies in pairs such as the US dollar/Euro or the US dollar/Japanese Yen or the US dollar/British pound.

The Forex broker works as an intermediary in currency exchanges by providing information to the trader on what currency pairs should be exchanged in the transaction. Based on this information the trader decides what currency pair to trade in. Once the transaction has been finalized, the Forex broker reports the successful transaction to the trader.

If the trader is not able to understand the risks involved, they will never be able to participate in the interbank trading. To help traders understand the risks related to trading in the interbank market, Forex brokers provide charts and other information related to their services. Forex exchange trading is not suitable for all types of investors. Before participating in trading in the Forex exchange market, it is necessary for the trader to understand and analyze their trading skills.

The Role Of A Forex Broker

Currency Traders often wonder what the role of a Forex Broker is. Often these traders are new to trading in foreign currency pairs and are seeking assistance to gain an edge over other traders. A Forex Broker will take an order from a trader for a specific currency pair. The Forex Broker will then buy or sell currency pairs based on how the current spot prices of those currency pairs are behaving.

Forex brokers also have different kinds of liquidity providers. If you want to trade in foreign currency pairs but do not have any knowledge of the market you can turn to the liquidity providers that will provide you with insight into the market. The liquidity providers will allow you to buy and sell currency without ever leaving your home. These types of brokers will often times charge brokerage fees and this will add to the overall cost of trading.

How Forex Trading Works

Forex trading refers to the buying and selling of currencies around the world. Large banks, central banks, multinational companies, institutional investors, and even individual traders buy or sell foreign currency for various reasons, such as making a profit, facilitating global trade and tourism, balancing the Forex markets, or simply making money. The process used to determine the value of a currency is called interest. If a currency's value is predicted to go up, then a trader may purchase it, while if it is expected to go down, then they can sell.

To facilitate this trading, banks, governments and other financial institutions create different foreign exchange marketplaces, or traded zones, where various currencies are exchanged. For example, the US dollar, the British pound, the Euro, the Japanese yen and the Swiss franc are the most popularly traded currencies in the Forex market. Unlike the stock market, the values of currencies never decline and can only increase or decrease in certain circumstances, such as economic recession or war. Usually, the interest rates charged on foreign currencies are also much higher than those in the US dollar, as there are significant differences in the economic power of the various countries.

Which Forex Broker Is Good For Beginners

Many of the best Forex trading platforms offer access to a massive selection of Forex educational resources aimed at new, mid-level, and even experienced traders. Forex trading takes time and experience to learn, but with access to online video, and Forex demo accounts, it's never been a better time to learn how to trade the Forex markets.

Why is Forex Trading Popular

We can boldly say that Forex trading is one of the popular trading types amongst investors having a daily average trading volume of about $5 trillion.

Some of the main reasons why Forex trading is so popular are listed below.

Market Liquidity

Forex trading is a very liquid financial market which allows experienced Forex traders to speculate on the day to day currency market volatility. A high volume of currency traded anytime yields many opportunities for liquidity.

Leveraged Trading

Forex trading online tends to leverage trading well since it mainly has a high position and a massive currency. Leveraging enables you to open a position on a more significant portion of the Forex market.

Short selling strategy

If a short-selling strategy is your style, then it would work well for your trading. It is simpler to implement than most other markets because the currencies are bought and sold in pairs. the

Forex Leverage

In Forex trading, leverage is the use of borrowed money from your Forex broker to invest on their Forex platform. Through leveraged Forex trades, investors can trade more significant positions in a currency by borrowing money from a broker. Leveraged trades are very high risk and have a high rate of loss. You must understand the risks before trading with leverage.

The use of Forex leveraged trades like CFD contracts for different contracts, although famous, are considered high risk and are only for experienced traders. With leveraged Forex trade gains more extraordinary than the traders deposited amount by some factors, trading losses may also be magnified if the trade does not go in your favor. Many Forex brokers demand that a particular percentage of trade be held in cash as collateral, which can be more prominent for certain currencies.

Forex Spread

The Forex spread is the distinction between the purchase rate when trading and the agent's sell rate. The spreads may be thin or wide, relying upon the cash that is included, the time the exchange was started, and the states of the economy.

The Forex spread is the contrast between a Forex brokers sell rate and purchase rate when trading or exchanging monetary financial assets. Spreads can be smaller or more extensive, contingent upon the money in question, the hour of day exchange is started, and financial conditions.

Forex Trading

Forex trading is a simple term: the network of buyers and sellers who transfer currency between each other at an agreed price.

Forex Market

The Forex exchange market is a worldwide, decentralized market for the trading of currencies. It determines the foreign exchange rate of all currencies.

Forex Strategies

There are lots of Forex strategies to chose from; some of them are listed below.

Scalping

Scalping is an advanced trading strategy. Scalping is a strategy that makes use of low timeframe charts, which are of the same as those used in MetaTrader 4

News Trading Strategy

It is a very lucrative strategy if the traders are on the right side of the market due to the rise in volatility that surrounds news releases. This strategy offers traders a unique approach for them to trade risk events.

Swing Trading

Swing trading is also one of the strategies that use trend analysis, and it spread across a more broad term with positions being held for a more extended period. When making use of this strategy, the trader would define a significant movement of a Forex pair and would place an order in its defined timeframe.

Beginner Forex Trading Checklist

Understand Forex Trading Risk

All Forex trading comes with risk; learn to employ Forex risk management trading elements such as Stop-loss and limit orders are two types of orders.

Learn Forex Technical Analysis

Successful Forex traders know how to use trading platform technical analysis tools. Educate yourself and learn how Forex currency markets work and what affects them. Learn to interpret historical data, follow economic-financial news and reports.

Why Forex Traders Fail

There are several reasons why Forex traders fail; in; this article, we would be giving you a detailed explanation of why some Forex traders fail.

Expectations

So many Forex traders have dabbled into the business mere seeing people making success in the field. Some might even have a friend who might have been successfully trading, which might make them think trading is so easy, leading to a lack of proper planning.

Not Having A Forex Trading Plan

Trading without a plan is also one of the primary reasons why traders fail. Your trading plan is crucial, and it should include setup, entry, stop loss, profit-taking, trade management, risk management, and money management.

Not Testing Your Forex Trading Plan

When you have decided how you will trade, the definition of your entries and exits, the percentage of your capital at risk, and much more, the next thing is to test out your plan whether it is feasible or not.

Emotions

If you failed in backtesting your plan and not taking out time to create a trading plan, your emotions might have the best of you when you are trading.

Do Not Trade Forex Emotionally

Identifying the difference between success and failure can bee as a result of controlling your emotions. Your mind has a significant role in the decisions you make, especially if you are a newbie in trading. One of the keys and ways to be successful in trading Forex is to learn how to control your emotions. As a Forex trader, controlling your emotions when trading is one of the skills you must possess; you should know when to limit your trade and when to increase. Your success as a trader is a function of your emotions.

Unrealistic Forex Trading Expectation

You can avoid unrealistic Forex trading expectations when you avoid targets of becoming rich very fast. Slow and steady wins the race; setting a target and being ambitious is good, but you must know that your targets must be realistic and within the achievable range.

Are Forex Brokers A Scam?

Many traders, fresh or experienced, jump into the Forex market without first learning about the complexities involved. They then go ahead and become highly successful, earning huge profits for themselves. Others may decide to trade on their own, risking their own money and ending up badly. In either case, the cause for failure is poor knowledge about the complex workings of the foreign exchange markets. Ignorance of foreign exchange trading is obviously bad news, as it can spell disaster for those who trade in it.

Currency exchanges (exchanges) are large financial marketplaces where one type of currency is traded against another. For instance, one may trade in the U.S. dollar against the British pound. This would imply that one buys U.S. dollars when they are cheap and sells them back when they are strong. Traders can make huge profits from this transaction. However, the same situation does not apply when trading with the currencies of different countries. For instance, if a trader wants to buy British pounds and sell the U.S. dollar, he/she would need to have the knowledge of the different currencies in use around the world.

How Much Do Forex Brokers Charge

Relatively, most brokers may charge $1 per $100,000 of a currency pairing which may be sold or bought. Assuming a trader buys $1,000,000, the broker will receive $10 as a commission, and if a trader buys $10,000,000, the broker will receive a $100 commission.

Can A Forex Broker Make Me Money?

Most Forex brokers charge a commission per trade, while some charge between the bid/ask prices. The most common way the Forex brokers earn money is by keeping spread or charging a set fee per round turn.

How To Choose A Forex Broker

Forex trading is highly liquid financial market that has a lot of participants, both large banks and individuals. The Forex market is open everyday from the time it opened up until the time of closure. It is also very unpredictable, and prices can change by the second. Because of these two factors, the Forex market can be quite difficult to manage.

First of all, when looking for a Forex trader, you should always look for a broker that is registered under the US Commodity Futures Trading Commission (CFTC). Remember: there is no such entity as the perfect Forex broker. What you are looking for is the most appropriate broker for your individual needs. By understanding the type of trading experience that you require, you could then select the most appropriate broker, who is also right for you.

The second factor that you should consider when deciding upon a broker is whether or not they are regulated by the FCA and FSA. If they are regulated, this means that they have to abide by certain guidelines and regulations that they must follow in order to remain honest and aboveboard. When a broker fails to comply, the commission can impose heavy fines on them. Thus, it is advisable to always choose a Forex trader who is regulated.

Consider Your Forex Trading Needs

If you are looking for a good Forex broker, there are some important things that you should consider. There are many more brokers out there and they all have different strengths and weaknesses. Some are designed to meet the needs of large financial corporations while others are made for smaller, privately owned operations. In addition, some brokers can be hired by just about anyone and others will charge a fee. Before you decide which broker to hire, it is important to know what you are looking for.

First off, before you decide to work with any specific broker, it is critical that you consider what type of trader you are. Do you trade often and want someone to make trades for you or are you satisfied with having a bit more independence? Are you looking to get in and out of the market quickly or are you comfortable lagging the market and waiting for it to change? If you need a lot of analysis on trends and graphs, then you will probably want to go with a Forex broker that has plenty of tools for this.

Forex Trading Platforms

When comparing Forex brokers and their trading platforms. Find the best Forex broker that is perfectly suited for you depends on a few factors.

The trading platform or software application should be stable and user-friendly. The charting tools should be easy to use and provide free news feeds about the live financial markets. ECN provides traders with a direct access to the market and are able to offer the best deal execution. Order information is shown in real time and execution errors are reduced.

Forex Broker Customer Service

In this era of advanced technology technical support becomes mandatory when trading Forex. When deciding upon the best Forex brokers, brokers should be kind in helping you when you face issues. Your customer experience should not be terrible. You should have confident that your broker will help when something happens. A good broker will talk to their clients to make sure they are satisfied and issues are resolved.

Forex Trade Transaction Costs

Forex brokers charge a fee for facilitating trades for their clients. This is usually a percentage of the transactions made by their clients and is usually paid on a monthly basis. Since most of the trades are very small, Forex brokers charge reasonable fees that allow the traders to make money with their trading activities.

Forex brokers make money by charging a commission based on the spread in the currency pairs they trade. They also charge higher transaction fees for larger orders and they are only paid when they deliver a successful trade. As an investor, you are basically paying them to trade your currency for you. Although they may have the necessary tools and software to help them find high quality trades, they rely on other investors like you and me to make money for them. It is this reason why some Forex traders make money through automated systems that automatically invest and trade for them, thus minimizing their trading time and overall cost. You should know that most full-service brokers are Internet-based while the discount brokers are primarily offline.

There are many advantages of using a Forex broker including lower costs and the potential to gain more profit through trading with real-time data. Forex brokers are also very reliable and you can be assured of their expertise and high level of service. However, there are also some disadvantages of using a foreign exchange broker. A foreign exchange broker usually charges higher transaction fees and higher brokerage commission than other online trading venues. In addition, trading hours may be limited or halted during peak periods and the foreign exchange market may experience heightened levels of volatility.

You can compare Forex brokers based on the above mentioned points but it is also important to know what transactional costs and fees they are charging. If it is too high, your profit margin will decrease.

Forex Deposit And Withdrawal

Withdrawing money from your Forex brokerage should be hassle-free and your broker should offer multiple withdrawl methods. Both the deposit and withdrawal should be easy, smooth and speedy. There should be no excuse why your profits cannot be withdrawn. This is one of the main things to consider when comparing Forex brokers.

Forex Order Execution

There should not be a huge pips difference while placing a trade. There should not be any reason why the broker fails to fill your order at your quoted price under normal conditions. Your 'buy' button click should reciprocate your price.

Trading With Forex Brokers

How do you compare Forex Brokers?

Finding the best Forex broker will depending on your requirements. Your trading requirements can include the currency pairs you wish to trade the brokers trading platform, withdrawl and funding methods, broker fees and customer supoort.

Is Trading Forex Safe?

Forex broker financial regulation is a must when trading.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to a reputable broker the withdrawl request will be honored. If your Forex broker violate any regulatory rules their regulated status could be stripped.

Any payments funded to a regulated Forex broker account by traders are held in a segregated bank account.

For added security reputable brokers like XTB use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are trading with your Forex broker. One is the real live Forex account, with your real money and the other a demo Forex account. The demo account allows you to learn and experiment.

Forex Broker Financial Regulation and Supervision in more detail

Check the Forex broker you trade with is regulated and supervised by reputable organisations. Regulation gives traders a mediator if any issues occur with a Forex broker. If a broker goes bankrupt financial regulation will help you to get your money back.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Forex traders and provide a safe trading environment.

Has Your Forex Broker Won Awards?

When deciding upon a Forex broker, Seeing a history of awards gives you an idea of the brokers strengths. The awards a Forex broker has won means that they have recieved an endorsement from that awards organisation. These awards add credibility for that broker.

What are your Forex Broker Fees?

You will need to check there are no hidden fees or surprises with your Forex broker.

• Check are their any withdrawal fees when withdrawing your money from your Forex brokerage account.
• Check your Forex broker does not charge inactivity fees.
• Check your Forex broker does not charge deposit fees.
• Be aware of what commissions or fees are charged per trade by your Forex broker.

Forex Broker Negative Balance Protection

When trading Forex using leverage an adverse move could result in losing more than your trading account balance. Your Forex broker account balance could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of your account the money in your account.

Does Your Forex Broker Offer Educational Resources?

To trade effectively in Forex, it is important to a have a good understanding your Forex brokers trading tools and the international Forex markets.

Make sure your Forex broker offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Take time to look around the various Forex broker platforms and train yourself to think more systematically and logically about the Forex markets. It's a new skill-set for many, but it is what the market requires of you.

What Level of Customer Support Does your Forex Broker Offer

Its important when you have an issue with your Forex broker its important you are able to resolve issues quickly and adequately. Does the broker customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Check if your Forex broker offers the below customer support

• Livechat Support
• Email Support
• Phone Support

Minor and Major Forex Currency Pairs

Multiple currencies are traded on the Forex market. When traders talk of minor currency pairs they are taking about world currencies which are not paired with the USD (US Dollar) but often include GBP (United Kingdom of Great Britain Pound Sterling). The Yen and Euro currency pairs are also known as minor pairs.

All Minor currency pairs do not contain USD (US Dollar) on either the left (base currency) side or right (quote currency) side of the currency pair. Minor currency pairs are known as Minor pairs because the market share of these currencies is smaller than that of the major currency pairs.

Major currency pairs have the largest market share of world trading volume. Major currency pairs include major currencies and are the most traded currency pairs in Forex.

What You Will Need to Open a Forex Broker Account

When you open an account, you'll likely be asked for the following, so it's good to have these handy:

• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

The Advantages of Forex Trading

The advantages of Forex trading are generally considered to be much more advantageous than stock trading. The Forex market is the biggest financial market in the globe, encompassing money changers from all over the globe, linked virtually via electronic means. Forex trading also comes with several advantages and disadvantages.

The advantage of earning profits from the Forex market is that it involves a huge amount of money changing hands. The traders require money to start off with and hence, they need huge amounts of investment capital. Hence, the risks involved are also quite high. However, in case the traders happen to make some profit, they can earn quite a handsome return, especially if they are able to control their losses and invest in some other profitable ventures.

Regulated Forex Brokers

The Forex trading market is filled with so many brokers, some of which are highly regulated and others who aren't. So when it comes time to choose a suitable broker to service your requirements, it can sometimes be hard to know which to go with, especially if you go for either one of the majority regulated brokers or take on an unregulated one? In most cases, it seems to be a trade off that's highly difficult to make. However, it doesn't have to be. Before we look at this further, let's look at how the Forex market works.

It's important to understand the way the Forex brokers operate first. Basically Forex brokers are the electronic trading platforms that traders use to carry out their trades on the Forex markets.

Regulated Forex brokers should also have trading platforms that come with a variety of tools like technical analysis and news events. The news events are particularly important because most traders don't pay attention to them when trading because of their low relevance. They can easily give you valuable information about a certain trend by using technical analysis. Finding a good platform with a variety of useful tools and features will be able to increase your profitability.

Forex Broker Reviews

If you're looking to get into the Forex market, then it's highly suggested that you check out some Forex Broker Reviews. You don't want to spend months trying to perfect a system only to have it fail on you. So take some time and review some important points about Forex brokers. Knowing what you need in a top-rated Forex Broker is quite a bit of the challenge, which is why looking at some key points in reviews will help you ensure you're looking in the right direction.

Forex Broker Reviews will usually take a look at both the platforms available and the quality of customer service. It's not uncommon for the best Forex brokers to have different platforms that they support, while having great customer service to go along with them. It will be important to see how these factors play into your final decision.

Forex Risk Management Tools

Forex brokers may include Forex options in their services. These options allow the trader to buy or sell currencies based on the prices set by the Forex Brokers. A Forex broker may include commodity futures trading commission as part of their services. Commodity Futures Trading Commission is charged by the Commodity Futures Trading Commission, not by the actual futures broker. Some brokers may also charge extra for Forex options.

Good Forex brokers should have systems in place that make sure traders do not lose money in Forex trading. There are various ways that brokers can lose money. In some cases, the system that they use may fail them. The biggest reason traders lose money in Forex trading is because they let their emotions take control of their trading. When traders do this, they may end up buying or selling a currency pair that they are not sure of, and the currency pair they are trying to trade goes against them.

Forex Automated Robots

Day traders sometimes make use of Forex automated trading programs or robots to do some of the work of their Forex traders. These programs can be integrated into a trading system and can be left on continuously throughout the day, taking care of all trades automatically. Some of these robots are able to enter multiple trades in one click, significantly increasing the chances of profits. These programs are designed to analyze the FX markets and make the appropriate decisions based on the information that they gather, which greatly increases the chances of making more money, and reduces the risks of losing money.

Can I Trade Forex Without A Broker?

No. There are many types of Forex brokers that are available for online trading today. The best ones will all work with the same online trading platforms, which allow investors to place trades on their websites. Some of the platforms even allow users to place orders directly from their trading platform by entering specific parameters such as stop loss and take profit amounts. Most brokers have a web based customer service department, where brokers help clients decide what kind of investment options are appropriate for them.

Trading involves buying or selling futures contracts for specific dates in the future. These contracts specify the date, price and value. Most commodity futures trading is done on the over the counter market. Over the counter markets are exchanges where buyers and sellers meet directly without any intervention from a third party such as a Forex broker.

You should know that you can start trading Forex online with no money down and a Forex demo account, but you do need to have a registered trading account. The minimum deposit required to open a live account with a variety of Forex brokers depends on the type of brokerage you use.

How Do I Start Trading Forex?

You probably want to get started in order to take advantage of all the profit opportunities that the Forex market presents. Forex is essentially the trade of foreign currencies and is traded over the internet between traders. You can learn more about Forex trading by becoming a member of an online Forex trading course.

Forex is a very liquid market, meaning that it's very easy to enter and exit. Forex traders can execute trades instantaneously - the moment a trade order is entered (although this is often delayed a few minutes until the trade is executed). Forex trading is the world's largest financial market, and one of the biggest 'liquid' markets out there. That means that if you know how to trade Forex, you don't have to wait for the market to 'dwell' over a profitable opportunity. You can act on your instincts and close quickly when a good trade is available, and you can also exit (or stop trading) when a bad trade has developed.

How do I open a Forex account?

The easiest way to get started trading Forex is by opening a mini Forex account using a broker. Most brokers will provide a free mini account that is accessible through an Internet broker. In a mini account, you usually won't have a minimum or maximum dollar account size, and you won't have to make a deposit of any sort - however, you will need to set up a first deposit to cover your initial fees.

A good Forex trading strategy will allow you to minimize risks while maximizing returns. Your strategy should include both a long-term strategy and a short-term plan. This way, you'll be minimizing risk while maximizing profit potential.

Is It Safe to Do Forex Trading?

Forex trading is also a great way for those with little foreign currency knowledge to diversify their portfolio. While you may make a decent living with Forex trading, always remember to keep your risk levels in mind. When trading Forex, make sure you stay within your net asset value.

Traders use very large amounts of leverage when trading the Forex market. This type of leverage allows traders to make trades that have small spreads. If one trader executes a very large trade using leverage, they can significantly boost the other traders profits by making trades with smaller spreads.

If you want to trade in the real market with real money without risking a lot of money up front, you should consider a demo account. Many of us have at least tried to trade in the demo account before we opened a real Forex trading account. In fact, I know for sure that some of us who are new to Forex trading have made mistakes in the demo account that would have cost us our first real investment.

If you are willing to learn about foreign exchange, you should also be willing to learn to use software programs to make trades. However, you need to do your research and learn about which foreign exchange trading platforms are the best. You can do this by reading reviews or participating in online forums where you can get advice from other Forex traders.

Is Forex Better Than Stocks?

There are many investors who prefer the foreign exchange market to the stock market because of its high volume and the fact that it offers a number of different risk/reward scenarios. For example, on the Forex exchange you can invest in one trillion dollars’ worth of trades and this amount increases every day, the profit potential is unlimited. The other main attraction of Forex trading is its huge leverage available. Investors are generally required to place as little as 0.1% of their account balance in leverage. The main difference of stocks and Forex is that they're both large-scale financial markets.

One of the key advantages of trading stocks through the foreign exchange market is the speed in which you can execute trades. There are many factors that affect this speed including the current news and financial reports. Stocks take longer to execute than Forex trading stocks. This is due to the fact that it's a much more complex set of rules for each pair of stocks. The trading stocks are also often traded on futures exchanges.

In order to successfully trade stocks and make a profit, you need to be an expert at identifying the most favorable currency pairs. There are several major currency pairs in the Forex market trades, and each pair has a number of governments and central banks involved in its economy. Most of these currencies are considered to be safe currencies, however some, such as the USD/JPY, are considered to be more volatile than others. Traders look out for currencies that have a strong likelihood of increasing in value, and the ones that show signs of weakness. For instance, if there are many traders who believe that the EUR/USD will increase in value over the next few months, then traders will want to buy EUR and dump the USD.

There are a number of advantages that the foreign exchange has over the stock market for day traders. If you are looking to make a profit, then Forex is a great place to start. There is low margin requirements, which means that you don't need much money to get started. As mentioned earlier, leverage is available to day traders, which gives them the chance to turn a profit faster than the average investor.

Forex Brokers Verdict

Forex brokers are the companies that facilitate the Forex trading market. They have a huge number of customers, who trust them. When a Forex Trader executes his/her trade, the broker places the order on behalf of his/her Forex Client. This is where the idea of Forex Broker comes in. The Forex Trader then pays the broker a fee for facilitating his trade.

There are many types of Forex Brokers available in the market today. They include the ones, which are available online, through phone and even through mail services. There is even Forex Brokers, which has online Forex Trading platforms. You can decide on the best one, according to your convenience.

When choosing Forex brokers, one of the most important things you need to keep in mind is to choose a reputed and trustworthy one. You should be extremely vigilant while dealing with brokers. Make sure you thoroughly do your research about the company, which you are going to deal with. Read reviews and participate in discussions on Forex Forums to get unbiased advice and tips from other traders.

Forex brokers also have their own strategies and system to follow. So, when you deal with a specific broker, it is best if you know about his or her approach towards the Forex market. Some brokers might be more aggressive, whereas others might be more careful and may not trade constantly.

Best Forex Brokers And Platforms

If you're interested in the FX markets and considering whether to become a broker or start from scratch then read this article. In it we will discuss what is required to become a successful currency trader and what you need to have in order to be successful. It is important to note that anyone can open an account and try trading currencies but they do so at their own risk. If you don't take time to learn about Forex Trading and specifically about the best Forex Brokers and platforms then your success will be limited and you may not make much money. There are many FX trading strategies and if you know what they are you can do very well, but there are many other factors that come into play as well that limit the success of any individual trader. Here are some of the best Forex brokers and platforms:

eToro

eToro Forex Platforms is the applications that facilitate the trading of the Forex market. They are a series of computer programs that can trade currencies automatically in the market. The main feature of these programs is the fact that they allow traders to minimize risks on their positions. The currencies that they trade represent currencies of various countries and are traded in pairs. They also trade commodities and other currencies.

eToro has recently launched an interactive strategy builder software that will allow its users to test their trading strategies without investing any money. This is one of the best tools that the brokerage has to offer. The strategy builder software makes it possible for traders to learn more about Forex trading by trying out different strategies in real time. This gives the user a chance to assess the strength of his or her trading skills. Since this is basically free software, most investors do not consider it much of a risk-free investment.

IC Markets

These Forex specialists are experts in their field and know what they are doing. IC Markets traders are made up of professional FX investors that utilize their combined expertise and experience to help their clients succeed. They have developed several online trading platforms and automated software to give your trading a boost, as well as to help you learn how to trade profitably. Here are some things to keep in mind when searching for an appropriate platform and software:

IC Markets makes it easy for clients to access the information they need. With the Multi-Currency Trading groups, a trader can make his data available to more people at once thereby making the data easy to access. This feature also makes the platform easy to access for all the Forex brokers in a particular network.

The best part about IC Markets is that they have recently launched a dedicated team of analysts who will constantly monitor the market and give their clients some useful information. The Forex analysts will provide daily reports and other technical analysis which help traders plan their strategy accordingly. Most of the times, the advice provided by the FX group is well worth the subscription fee that they charge. Many times the expert advice and the strategies that they suggest turning out to be very helpful for individual investors.

AvaTrade

AvaTrade is a well known name in the Forex trading market. The company has been around for a very long time and continues to impress with new ideas and technology. Many of us have been impressed by what they have to offer and continue to use their services. This is especially true when it comes to Forex trading platforms. The AvaTrade Forex trading platform is extremely user friendly and can be used by virtually any computer user, even if you have just received your first keyboard and mouse.

What makes this trading platform so great? There are many things that make it so different and easier to use than any other. The biggest feature is probably the ability to trade within the confines of your own brokerage account. You can manage your investments from any computer connected to the Internet, which makes for convenient trading anywhere you can find an Internet connection.

With an AvaTrade Forex trading platform, you can place a market order and get confirmation as to the results immediately through email. This also eliminates the need to open multiple trading accounts since the same orders are managed from one account. Another great feature is the demo mode. With the demo mode you can learn the ins and outs of the Forex trading platform without the risk of losing actual money.

How Technology Is Changing and Affecting Forex Trading

There are many ways in which modern technology has impacted and changed the Forex market. The internet is a prime example of how technology is changing the Forex market. The internet has opened up endless new opportunities for both novice and experienced Forex traders to make more money from their investments. In this article we will highlight five different ways in which modern technology is changing and effecting Forex market.

Ease Of Access

Simplicity The Forex exchange is primarily done between two currency pairs. When you trade currencies, one or more currencies have to be exchanged to get the other's rate. A long time ago when this exchange was required, traders had to travel to each country's central bank, spend time there and then do all the transactions manually. With the advent of automated Forex software, the entire core process is now done from the comfort of your own computer. You just enter the value of one currency pair into a program like a currency exchange or a time zone converter and you get the information instantly.

Convenience One of the modern technology that has helped greatly in making the Forex exchange market more convenient is the use of trading tools. Forex software such as the free robots have made the work of traders easier. These trading tools can detect potential opportunities in trades much faster and efficiently than traders themselves. In addition, these tools also provide data on past market performance, allowing traders to make good decisions even while they are away from the computer. This means traders don't need to spend all their time analyzing data and making decisions based solely on gut instinct or other emotion-based methods.

Technology allows for a competitive landscape

Competition allows for a healthy and competitive landscape - in many forms of businesses. Competition among companies allows them to find out new markets, develop new products, and even invest in their company and its growth. This also applies to Forex trading and many Forex brokerage firms today have adopted being in the foreign trading game on the web.

Forex trading has become very popular and this has resulted in many players in this high-end business exchange. One of the most effective ways of becoming a player in this industry is to adopt some form strategies and to know more about the tools that are used by the top traders. It is important for the trader to be aware of the 4G technology in Forex trading. This is because the internet has opened up a lot of doors for the trader and the technology allows the trader to be competitive and at the same time, has made the business of trading easier and faster. The speed in which transactions are processed and information is shared has made Forex faster and this has increased the profitability of trading.

Technology Allows Faster And Automated Execution In Forex Trading

As technology improves and makes Forex trading easier, software applications are created to make the entire process much more accurate and streamlined. The most common of these applications are automated Forex trading robots. Forex robots are designed to perform trades on your behalf, taking decisions about when to buy or sell depending on market conditions, among many other factors. These programs have revolutionized Forex trading, as many traders are able to reap profits from their Forex accounts without having to spend a lot of time on it. Here are some things you should know about this revolutionary tool.

Many Forex programs offer the same features, but with different capabilities. A Forex robot may be able to automate a large portion of your trades, which will allow you more free time to pursue your other interests and activities. Some Forex trading programs are able to create trends in the market, which can significantly boost your profits. Before purchasing an automated software application for Forex trading, be sure that it has these abilities so you can get the best results.

Mistakes Forex Day Traders Must Avoid

It is important for Forex day traders to know the right time to enter and exit a trade. They should also have a good understanding of the Forex trend and how to read it. Many traders don't have this knowledge and end up losing their money because they didn't realize when to enter and exit a trade. Here are mistakes Forex traders must avoid.

Trading With An Unlicensed & Unregulated Forex Broker

Forex scams and illegal activity have reached an all time high in recent years, which is why the development of online trading platforms has made licensing regulations even more stringent. But even though these measures are extremely important and beneficial to everyone involved in Forex trading, there is still a lot that brokers can do to benefit from this legislation without having to actually meet any legal requirements. In fact, some brokers simply avoid the new licensing regulations entirely by not selling their services through accredited banks or via registered brokerages - an act that effectively makes them illegal. And while the possibility of dealing with such unscrupulous brokers is nearly impossible, it does not mean you have to put up with some of the unscrupulous tactics used by dishonest brokers.

One of the most common mistakes Forex day traders make is using an unlicensed & unregulated Forex broker. Brokers who do not hold registration status or who are not regulated by legitimate associations have very little regulation. This means that they can pretty much choose who they want to deal with, and charge whatever they like.

Not Using A Stop-Loss & Limit Orders

Forex Day Trading Signals and Not Using a Stop-Loss & Limit Orders: Many FX traders make the mistake of over-estimating the effect of orders. They think that a big move is big enough to get them out of a trade, and that they can live with the loss. However, they are often very wrong! Forex day trading requires a lot of skill, just as any other form of trading. Day trading is not the place for beginners, and you should seek a good broker before getting involved.

Not Using a Stop-Loss & Limit Orders: Even more common than the above mistakes Forex day traders make are the ones that ignore or underestimate the importance of stop-loss orders. The basic concept is quite simple, but many traders just do not use it. Basically, you can put a stop-loss that orders you to liquidate all your open positions at a certain price. Most of the time this price is well below your initial investment.

Not Having A Trading Plan In Trading

Not having a Trading plan in trading is often the cause of many novice Forex day traders making bad trades and losing a lot of money. Its important to have a trading plan for any type of investing or trading. Not having a Trading plan means you will make bad decisions all the time, even if you are using a Forex day trading system. If you are new to Forex day trading, you must make sure you have a Trading plan before you start.

Its actually pretty simple, if you do not have a trading plan you will make dumb mistakes. When you have a trading plan, you know exactly what you are going to do in every trade and what you are not going to do. This can give you some great insight into the market and can help you make more money, however, if you do not have a trading plan its very easy to get sidetracked and lose track of what you are doing.

Its very easy to make mistakes when you are trading the Forex market. Even experienced Forex day traders make them sometimes. Do not let that stop you from having a Trading plan. If you do not have a trading plan, then take the time to create one. There are plenty of free Forex day trading systems out there. You can find them just about anywhere on the internet.

We've collected thousands of datapoints and written a guide to help you find the best Forex Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best forex brokers below.

Reputable Forex Brokers Checklist

There are a number of important factors to consider when picking an online Forex trading brokerage.

• Check your Forex broker has a history of at least 2 years.
• Check your Forex broker has a reasonable sized customer support of at least 15.
• Does the Forex broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
• Check your Forex broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
• Does your Forex broker have an international presence in multiple countries. This includes local seminar presentations and training.
• Make sure your Forex can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Forex Brokers.

We compare these features to make it easier for you to make a more informed choice.

• Minimum deposit to open an account.
• Available funding methods for the below Forex Brokers.
• What you are able to trade with each brokerage.
• Trading Platforms offered by these brokers.
• Spread type (if applicable) for each brokerage.
• Customer support levels offered.
• We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.

Top 15 Forex Brokers of 2021 compared

Here are the top Forex Brokers.

Compare Forex Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are forex brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more forex brokers that accept forex clients

Broker	eToro	XTB	IC Markets	AvaTrade	Roboforex	Pepperstone	XM	FP Markets	Plus500	FXPrimus	EasyMarkets
Rating	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆	★★★★☆
Regulation	Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)	Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa	Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)	Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)	Cyprus Securities and Exchange Commission (CySEC)	Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217	International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)	Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)	Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546	Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)	Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
Min Deposit	50	No minimum deposit	200	250	1	200	5	100	100	100	100
Funding	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal	Bank transfer Credit Card Paypal
Used By	20,000,000+	250,000+	180,000+	200,000+	10,000+	89,000+	3,500,000+	10,000+	15,500+	10,000+	142,500+
Benefits	Offers STP Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit	Allows scalping Allows hedging Offers STP Low min deposit	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit Offers Negative Balance Protection	Low min deposit Offers Negative Balance Protection	Allows scalping Allows hedging Offers STP Low min deposit	Allows scalping Allows hedging Low min deposit Guaranteed stop loss Offers Negative Balance Protection
Accounts	Demo account Standard account Islamic account	Pro account Demo account Micro account Mini account Standard account Islamic account	Demo account Mini account Standard account Zero spread account Raw Spread account Islamic account	Demo account Micro account Mini account Standard account Islamic account	Demo account Micro account Mini account Standard account Zero spread account ECN account Islamic account	Demo account Mini account Standard account ECN account Islamic account	Demo account Micro account Standard account Zero spread account Islamic account	Demo account Mini account Standard account Zero spread account ECN account Managed account Islamic account	Demo account Standard account Islamic account	Demo account Micro account Mini account Standard account ECN account Managed account Islamic account	Demo account Micro account Mini account Standard account Islamic account
Spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads	fixed spreads variable spreads
Platforms	Web Trader, Tablet & Mobile apps	MT4, Mirror Trader, Web Trader, Tablet & Mobile apps	MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac	Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5	MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps	MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps	MT4, MT5, Mac, Web Trader, Tablet & Mobile apps	MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps	Web Trader, Tablet & Mobile apps	MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps	MT4, Web Trader, Tablet & Mobile apps
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Learn More	Sign Up with etoro	Sign Up with xtb	Sign Up with icmarkets	Sign Up with avatrade	Sign Up with roboforex	Sign Up with pepperstone	Sign Up with xm	Sign Up with fpmarkets	Sign Up with plus500	Sign Up with fxprimus	Sign Up with easymarkets
Risk Warning	67% of retail investor accounts lose money when trading CFDs with this provider.	74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	Losses can exceed deposits	72% of retail investor accounts lose money when trading CFDs with this provider	Losses can exceed deposits	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money	Your capital is at risk	Losses can exceed deposits	72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.	Losses can exceed deposits	Your capital is at risk
Demo	eToro Demo	XTB Demo	IC Markets Demo	AvaTrade Demo	Roboforex Demo	Pepperstone Demo	XM Demo	FP Markets Demo	Plus500 Demo	FXPrimus Demo	easyMarkets Demo
Excluded Countries	ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN,	US, IN, PK, BD, NG , ID, BE, AU	AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA	BE, BR, KP, NZ, TR, US, CA, SG	US, JP	BR, KR, IR, IQ, SY, JP, US	US, CA, IL, KR, IR, MM, CU, SD, SY	US, JP, NZ	MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE	AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC.	US

eToro Risk Disclosure

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

All Forex brokers in more detail

You can compare Forex Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Forex Brokers for 2021 article further below. You can see it now by clicking here

We have listed top Forex brokers below.

Top Forex Brokers for 2021 Review by Andrew Blumer last updated on October 14, 2021

Forex Brokers Table of Contents

• Forex Brokers Explained
• 6 Factors to Consider when Choosing Forex Brokers
• Are Your Forex Brokers Trusted And Established?
• Are The Forex Brokers World Leading?
• What are the Forex Brokers Commissions and Fees?
• What are the Forex Brokers Funding and Withdrawl Methods?
• Find Forex Brokers with Round-the-clock support?
• Make sure the Forex Brokers Offer Comprehensive Trader resources?
• Why Forex Brokers needs to be regulated?
• Forex Brokers FAQ
• What are the best Forex brokers?
• What is the best Forex broker?
• Related Forex Brokers Reviews
• Related Forex Brokers Alternatives
• Related Forex Brokers Comparisons

Forex Brokers Explained

Trading the financial markets with Forex Brokers when conditions are volatile can be difficult, even for experienced traders.

Apart from the educational and other resources made available online, another important factor for traders to consider when looking for Forex Brokers is the platform that a Forex Brokers offer.

Choose Forex Brokers that's at the forefront of innovation and generally considered an industry-leader.

To gain access to the financial markets, you'll need Forex Brokers that you can rely on.

6 Factors to Consider when Choosing Forex Brokers

Follow these five rules for selecting a broker that's right for you:

Are Your Forex Brokers Trusted And Established?

Look for a broker that has a good track record/longevity in the market so that your strategy is your primary concern for navigating the markets. The top rated Forex broker is eToro. Established in 2007, and in operation for 14 years eToro have a head office in Cyprus, UK.

eToro is regulated. This means eToro are supervised by and is checked for conduct by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) regulatory bodies.

Another top rated broker is XTB.

XTB was established 2002, and in operation for 16 years XTB have a head office in Poland.

XTB is regulated. This means XTB are supervised by and is checked for conduct by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) regulatory bodies.

Broker	eToro	XTB	IC Markets	AvaTrade	Roboforex	Pepperstone
Year Established	2007	2002	2007	2006	2009	2010
Head Office	Cyprus, UK	Poland	Australia	The British Virgin Islands	Cyprus	Australia
Regulation	Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)	Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa	Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)	Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)	Cyprus Securities and Exchange Commission (CySEC)	Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
Used By	20,000,000+	250,000+	180,000+	200,000+	10,000+	89,000+
Negative balance protection	Yes	Yes	Yes	No	No	Yes
Guaranteed Stop Loss	No	No	No	No	No	No
Learn More	Visit eToro	Visit XTB	Visit IC Markets	Visit AvaTrade	Visit Roboforex	Visit Pepperstone
Risk Warning	67% of retail investor accounts lose money when trading CFDs with this provider.	74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	Losses can exceed deposits	72% of retail investor accounts lose money when trading CFDs with this provider	Losses can exceed deposits	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Are The Forex Brokers World Leading?

Choose a broker that's at the forefront of innovation and generally considered an industry-leader. eToro Segregates clients funds and offers over 2000 instruments. eToro offers both an online trading platform as well as a mobile platform giving clients easy access to markets.

In addition, the eToro platform enables access to a variety of financial markets worldwide. eToro is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.

Another good choice when looking for Forex Brokers is XTB . XTB Segregates clients funds and offers over 4000 instruments.

Broker	eToro	XTB	IC Markets	AvaTrade	Roboforex	Pepperstone
Instruments Available	2000	4000	232	1000	100	100
Platforms	Web Trader, Tablet & Mobile apps	MT4, Mirror Trader, Web Trader, Tablet & Mobile apps	MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac	Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5	MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps	MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps
Excluded Countries	IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN,	US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR	US	BE, BR, KP, NZ, TR, US, CA, SG	US, JP	BR, KR, IR, IQ, SY, JP,US
Forex pairs offered	50	57	65	80	35	70
Forex pairs offered	50	57	65	80	35	70
Major forex pairs	Yes	Yes	Yes	Yes	Yes	Yes
Minor forex pairs	Yes	Yes	Yes	Yes	Yes	Yes
Exotic forex pairs	Yes	Yes	Yes	Yes	Yes	Yes
Cryptocurrencies (availability subject to regulation)	Yes	Yes	Yes	Yes	No	Yes
Commodities Offered	31	21	19	16	21	16
Metals	Yes	Yes	Yes	Yes	Yes	Yes
Energies	Yes	Yes	Yes	Yes	No	Yes
Agricultural	Yes	Yes	Yes	Yes	No	No
Stocks Offered	2042	1696	110	99	0	60
UK Shares	Yes	Yes	Yes	Yes	Yes	No
US Shares	Yes	Yes	Yes	Yes	Yes	No
German Shares	Yes	Yes	Yes	Yes	Yes	Yes
Japanese Shares	Yes	Yes	Yes	Yes	Yes	No

What are the Forex Brokers Commissions and Fees?

Ensure that your broker is transparent with fees and those dues are competitive.

The best rated Forex broker eToro offers competitive offers for Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). eToro minimum deposit is 50.

Another top rated Forex broker XTB offers Forex, CFDs, Cryptocurrency. XTB minimum deposit is 0. Please note that any cryptocurrency availability with any broker is subject to regulation.

Broker	eToro	XTB	IC Markets	AvaTrade	Roboforex	Pepperstone
Min Deposit	50	0	200	250	1	200
Withdrawl Fees	Yes	varies	No	No	Yes	No
Inactivity Fees	Yes	Yes	No	No	No	Yes
Deposit Fees	No	No	Varies	No	No	No
CFD Commission Fees	Yes	Yes	Yes	No	No	Yes

What are the Forex Brokers Funding and Withdrawal Methods?

When dealing with Forex Brokers having convenient funding and withdrawl facilities makes the trading process and your trading experience smoother.

Broker	eToro	XTB	IC Markets	AvaTrade	Roboforex	Pepperstone
Bank transfer	Yes	Yes	Yes	Yes	Yes	Yes
Credit Cards	Yes	Yes	Yes	Yes	Yes	Yes
Paypal	Yes	Yes	Yes	Yes	No	Yes
Skrill	Yes	Yes	Yes	No	No	Yes
Payoneer	No	Yes	No	Yes	Yes	Yes
Neteller	Yes	Yes	Yes	Yes	Yes	Yes

Find Forex Brokers with Round-the-clock support?

Customer service is very important when dealing with Forex Brokers.

When investing and dealing with brokers customer support can be a range of customer services to assist customers in making cost effective and correct use the brokers services. It can include assistance in installation, training, troubleshooting, upgrading, and cancelation of a product or service.

Forex Brokers customer support can include Phone answering services, Live chat support and Email customer service support.

eToro support a wide range of languages including English, German, Spanish, French, Italian

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish

eToro and XTB offer support where clients are able to call or contact the helpdesk via email or a chat service.

Broker	eToro	XTB	IC Markets	AvaTrade	Roboforex	Pepperstone
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Languages	English, German, Spanish, French, Italian	English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish	English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more	English, Italian, German, French, Greek, and Hebrew	English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian	English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
Learn More	Visit eToro	Visit XTB	Visit IC Markets	Visit AvaTrade	Visit Roboforex	Visit Pepperstone
Risk Warning	67% of retail investor accounts lose money when trading CFDs with this provider.	74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	Losses can exceed deposits	72% of retail investor accounts lose money when trading CFDs with this provider	Losses can exceed deposits	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Make sure the Forex Brokers Offer Comprehensive Trader resources?

Make sure your broker offers free resources like analysis, education and risk-management tools. With a wealth of knowledge from top analysts, eToro and XTB work together to bring the latest news and insights to traders.

For most traders, the first – and sometimes only – concern is pursuing their 'edge'. While that is surely important, along with sound money management habits, to navigating the markets; that step alone does not represent the full preparation. As each trader dives into this important venture, it is important not to forget the most rudimentary yet crucial steps such as selecting the best broker to access the markets.

Why Forex Brokers needs to be regulated?

A regulated Forex broker lowers your risk.

Broker regulation protects consumers. Too little broker regulation can lead to poor services and possibly financial harm.

Forex brokers are regulated to stop fraud. The agent's working capital and clients funded account have to be separated. This amounts to fraud if client money is used to conduct the business. Regulation is required to make sure this does not happen.

Forex Brokers List

eToro

★★★★☆ (4/5)

Min deposit : 50

Visit eToro Try a Demo Read review

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro was established in 2007 and is used by over 20000000+ traders. 67% of retail investor accounts lose money when trading CFDs with this provider. eToro offers Stocks, Commodities, Forex, CFDs, Social Trading, Indices, Cryptocurrency, Index Based Funds, Exchange Traded Funds (ETF). Cryptocurrency availability with eToro is subject to regulation. Buying and selling real cryptocurrency assets may not be available in your country through eToro. Please check the latest information made available on their website.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)

XTB

★★★★☆ (4/5)

Min deposit : 0

Visit XTB Try a Demo Read review

XTB was established in 2002 and is used by over 250000+ traders. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency. Cryptocurrency availability with XTB is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa

IC Markets

★★★★☆ (4/5)

Min deposit : 200

Visit IC Markets Try a Demo Read review

IC Markets was established in 2007 and is used by over 180000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies. Cryptocurrency availability with IC Markets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)

AvaTrade

★★★★☆ (4/5)

Min deposit : 250

Visit AvaTrade Try a Demo Read review

AvaTrade was established in 2006 and is used by over 200000+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider AvaTrade offers Forex, CFDs, Spread Betting, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)

Roboforex

★★★★☆ (4/5)

Min deposit : 1

Visit Roboforex Try a Demo Read review

Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC)

Pepperstone

★★★★☆ (4/5)

Min deposit : 200

Visit Pepperstone Try a Demo Read review

Pepperstone was established in 2010 and is used by over 89000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Pepperstone offers Forex, CFDs, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217

XM

★★★★☆ (4/5)

Min deposit : 5

Visit XM Try a Demo Read review

XM was established in 2009 and is used by over 3500000+ traders. Your capital is at risk XM offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)

FP Markets

★★★★☆ (4/5)

Min deposit : 100

Visit FP Markets Try a Demo Read review

FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)

Plus500

★★★★☆ (4/5)

Min deposit : 100

Visit Plus500 Try a Demo Read review

Plus500 was established in 2008 and is used by over 15500+ traders. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500 offers CFDs.

Plus500 offer a 100% Free and Unlimited Demo account No Deposit fees/Commissions No hidden fees Competitive fees Tight Spreads

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546

FXPrimus

★★★★☆ (4/5)

Min deposit : 100

Visit FXPrimus Try a Demo Read review

FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID)

EasyMarkets

★★★★☆ (4/5)

Min deposit : 100

Visit easyMarkets Try a Demo Read review

easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto. Cryptocurrency availability with easyMarkets is subject to regulation.

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account

Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)