We found 11 online brokers that are appropriate for Trading Forex.
International business houses face Forex exposure. In other words, those businesses that deal with overseas clients may run the risk of Forex exposure or foreign exchange exposure.
As Forex is highly volatile, the monetary transactions in foreign currencies fail to remain stable due to continuous change in exchange rates of currency pairs.
This leads to changes in profit margins, either positive or negative. The simple answer to overcoming the sudden fluctuations, business houses opt for preemptive hedging.
To minimize Forex exposure a targeted currency strategy is employed by companies dealing in foreign currencies like locking the exchange rate with clients for a certain pre-defined period, usually one or two years.
There are several risk management tools to limit the Forex exposure and below are some of the fundamentals employed.
Spot Transfers are one of the most basic features in the risk management tools is spot transfers that specify exchange terms of two currencies between clients. Below are some briefed:
The transaction currencies need to be defined:
The volume of currencies is to be mentioned. The transfer maturity date is to be pre-defined. The rate of exchange need to be fixed.
There is a common trend lately in overseas transactions called “buy now and pay later.” In standard terms, it is called FEC or Forward Exchange Contract.
It is like locking a rate now and making the transfer later.
With respect to a FEC, a business house can use the current currency exchange rate in the near future.
This means there is more certainty with the amount to be paid and business is protected from any market shifts taking place suddenly.
The primary benefit of FEC is that it eliminates future market swings worry for up to one year and can also be rolled into limit orders, spot transfers and other similar products. Savings can hence be maximized.
This is one important risk management tool in Forex exposure. It is setting a target rate first and a reliable agency monitors the market for the business house.
There is an added advantage. If the rate hits the target, it is intimated, but the client may cancel it if it is not comfortable in transferring at the point. There is no cancellation fee.
The primary advantages of Limit Orders include having piece of mind by selecting a target rate and this can be used with other products.
Spot Transfer is the transferring of money as a single exchange while a Limit Order allows locking a target rate and an expert monitors this. FEC on the other hand is locking a rate now and paying later.
In Spot Transfers, the currency rate is secured at the transfer time while the Limit Orders allow cancelling of the rate without any reason even if the target rate is met.
Meanwhile, in FEC the rate can be used for up to one year.
Spot Transfer is in fact better for everyday transfers and it is one of the best risk management tools. Limit Order mitigates risk in such a market that has more uncertainty. A FEC is best for sensitive pricing schedules.
Payments to overseas staff or suppliers are usually affected by exchange rate valuations. Furthermore, the fees charged by overseas banks may eat away profit margin.
These are the primary reasons most of the business houses choose to take help or support of specialists in money transfers so that the transfers can be convenient, cheaper and faster.
Forex exposure related agencies help business houses to bring profits home at the best currency rate and the least risk.
Forex exposure is a worrying term for business houses dealing in overseas transactions. In basic terms, it is like a nightmare that eats away profit margin.
There are approaches, however, to overcome such exposure to Forex.
Risk management tools exist that help to optimise the benefits and mitigate the risks.
With the implementation of tools, business houses can lock the currency rate ahead of the transfers.
The risk management tools are basically of three kinds as discussed in this article.
Each has its own unique features and clients need to find out what fits. For example, Spot Transfer can be great for everyday transfers while Limit Order features mitigating risks in uncertain markets.
Similarly, some may look to lock the rate for about a year and FEC is best for this.
Managing all these may not be possible without the help of an expert.
Hence, most of the businesses take the service of currency transfer agencies.
It is suggested to always deal with one of the best experts who understand customized needs and manage faster with cheaper transfers of money.
We've collected thousands of datapoints and written a guide to help you find the best Forex Exposure 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 below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Forex trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Forex.
Compare Forex min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Forex. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Forex that accept Forex clients
Broker |
eToro
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IC Markets
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XTB
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AvaTrade
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Roboforex
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FP Markets
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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Rating | |||||||||||
Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | 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) | 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) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | 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 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), 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 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) |
Min Deposit | 200 | 200 | No minimum deposit | 250 | 1 | 100 | 1 | 100 | 200 | 100 | 5 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 200,000+ | 10,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with roboforex |
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Up with fpmarkets |
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Up with trading212 |
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Up with plus500 |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% 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. | 72% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% 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. | 76.4% 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. | 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 | Your capital is at risk |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
AvaTrade Demo |
Roboforex Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
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, | 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 | US, IN, PK, BD, NG , ID, BE | BE, BR, KP, NZ, TR, US, CA, SG | US, JP | US, JP, NZ | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY |
You can compare Forex 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 for 2021 article further below. You can see it now by clicking here
We have listed top Forex below.