We found 11 online brokers that are appropriate for Trading Forex.
What is Forex Sentiment?
How significant is it for your Forex trading activity?
Forex Sentiment can be defined as the response of market participants towards the volatility of currency pair prices based on feelings and response.
As we know, all traders are human being and they like to gauge their feelings or tones to the Forex market.
Even the pro traders will use Forex sentiment analytics to make informative decisions which could benefit.
Every trader, no matter what the level of experience and expertise, has their own judgement and views about the direction that the Forex market will move. Based on their own opinions, they will decide whether to conduct the purchase or the sale.
If you have guessed that these opinions are the dominant factor to move the market, then your assumption is correct.
The direction that the market will take will also depend on the combination of the opinions from different users who join the market.
In a more relevant example, if dominating sentiment is overcoming the currency pair, then its value will rise.
It is important to know that the sentiment analysis is not the only guide to use to provide you with information to enter and exit a trade.
Although it is not the standalone Forex tool you will use, it is one of the most crucial tools that you need to keep in your toolbox and you will tend to use it more often if you are quite active in Forex trading.
The undeniable fact is that sentiment forms such an important part of factors which can drive Forex market movements and the predominating activities conducted by the traders will really shape the image of the market.
For instance, if there are 85 traders who decided to make purchases on the IDR/USD, and 15 traders make the sales on the same currency pair, it literally shows that the sentiment is 85% in favour of buying positions.
The sentiment will follow the real attitude of traders. If traders have positive attitudes, then the sentiment will also be positive.
To practice, you can use the sentiment analysis in your toolbox to help you decide whether you want to follow the trends or just wait for your turn to action
The sentiment analysis focuses on reading the traders behaviours. By seeing the analytics, you will become to realise how the traders are thinking and make appropriate decisions based on the data you have researched.
You can assess the volume to gauge the sentiment.
There is a chance that the price is on the trend, but the volume is decreasing. The most sensible thing to happen in the market is the buying conditions.
Therefore, you will need comprehensive tools to help you to find out the market sentiment.Here are the tools which you can add to your toolbox.
This tool indicates the contrarian trading strategy conducted by some traders who trade against the market sentiment meaning the strategy involves the purchase orders which are against the current market sentiment.
The right time to conduct the contrarian trading is usually when a specific currency is in the weak point.
The contrarian traders will place the long orders for this situation. Meanwhile, if the specific currency is strong, they will then place the short orders.
When the market is on a selling splurge, traders can go into a frenzy buying at reduced prices and they will sell currencies when the price is favourable.
The contrarian traders will likely make the purchase when the price goes down to the lowest levels. While some people are not interested in this fact, the contrarian traders see this as an opportunity.
The COT report is issued by CFTC - Commodity Futures Trading Commission every Friday.
The Chicago IMM exchange report illustrates net short and long statistics. As the officials issue this every Friday, we can say that the information is not in real time.
These are still valuable for most traders because you can use it to take intermediate or long-term positions. All the traders can access the report directly on the official CFTC website. The report consists of ample information.
You would not need to scroll up or down to navigate the report you want to read. You just need to conduct the internal search by typing in the correct keyword.
In the report, you will need to comprehend the definitions of these categories:
You can get additional information from the COT report.
The website even provides the free sources that you can use to help you understand how to read the COT report and how to use it appropriately.
Traders at various levels of expertise and experience cannot neglect the important role of sentiment analysis.
It is not the only analysis that you can get to help you to act in the Forex market. But you can combine this analysis with other ones so that you can reap the maximum benefits.
To find ample opportunities, you could combine the sentiment analysis with other analytical data such as technical analysis or fundamental analysis.It will also allow you to know other traders positions so that you can use this information to make informative decisions that would favour you the most.
If you can use it in an appropriate way, sentiment analysis is an excellent tool when trading on the Forex market.
We've collected thousands of datapoints and written a guide to help you find the best Forex Sentiment for you. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Forex below.
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
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IC Markets
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eToro
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Roboforex
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AvaTrade
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XTB
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Pepperstone
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XM
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NordFX
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FP Markets
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Trading212
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Plus500
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | 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 | 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 | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | 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, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039), Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules |
Min Deposit | 200 | 10 | 1 | 100 | No minimum deposit | 200 | 5 | 1 | 100 | 1 | 100 |
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Used By | 180,000+ | 27,000,000+ | 10,000+ | 300,000+ | 250,000+ | 89,000+ | 3,500,000+ | 10,000+ | 10,000+ | 15,000,000+ | 15,500+ |
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Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with icmarkets |
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Up with xtb |
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Up with pepperstone |
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Up with xm |
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Up with nordfx |
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Up with fpmarkets |
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Up with trading212 |
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Up with plus500 |
Risk Warning | Losses can exceed deposits | 68% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 71% 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. | 74-89 % of retail investor accounts lose money when trading CFDs | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% 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 | 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. | 73% 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. |
Demo |
IC Markets Demo |
eToro Demo |
Roboforex Demo |
AvaTrade Demo |
XTB Demo |
Pepperstone Demo |
XM Demo |
NordFX Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Excluded Countries | 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 | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, 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, PY, HN, GT, PR, NI, VG, AN, | US, JP | BE, BR, KP, NZ, TR, US, CA, SG | US, IN, PK, BD, NG , ID, BE, AU | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW | US, CA, IL, KR, IR, MM, CU, SD, SY | US, CA, EU, RU, SY, KP, CU | US, JP, NZ | US, CA | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE |
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 2022 article further below. You can see it now by clicking here
We have listed top Forex below.
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.