We found 11 online brokers that are appropriate for Trading Brokers.
Trading foreign currencies on the Forex market is a favorite of many people. Why? Because these trades require only a small amount of capital, if not the least, to start day trading.
There is a lot of potential that traders will be able to obtain from Forex trading that is open 24 hours a day for a week. One of them is due to the leverage available from Forex brokers.
In Forex trading, traders can lose large amounts of money if they are inexperienced, and market conditions can suddenly fluctuate. The following is a scenario that shows the possibility of using a Forex day trading strategy to control the risks you may experience.
For the traders, to obtain sustainable profitability, they must be able to manage at their loss. Risk management is part of the vital elements in determining the profitability of their trading.
To get started, traders must ensure that the risks that will occur in each trade is at the lowest level, it can be 1% or less. That means that if you have £5,000 capital, you must ensure that your losses are not more than £50. This principle applies to every trade.
Even though the number of damage may seem small, you should anticipate repeated losses or failure of your trading strategy that day. Risk management relies on stop-loss orders.
In determining a likely strategy, you will need many components to achieve profitability. Usually traders will make a ranking analysis using the win rate or risk/reward ratio.
In Forex trading, your win rate is a representative of the number of trades you win over the total amount of a particular game. What this means is that if you win a total of 55 out of 100 trades, the sum you win will be your win rate. So, your win rate is 55%. The ideal average win rate is above 50%, that is not a benchmark for day traders. A figure of 55% is an acceptable win rate.
The ratio between risk/reward is a marker of how much capital you are betting to get a certain amount of profit. The explanation is, a trader who lost ten pips for stock but earned 15 pips from another trade has earned more than the loss.
Therefore, even though the trader only receives a profit of 50%, he is still in a winning position because he has managed to get a profit. Many Forex traders strive for more profit in their strategies.
By gaining high win rates, traders have more flexibility in terms of risk/reward. And, if your risk/reward is high, then even if the win rate is low, traders still make a profit.
If there is a trader who has a capital of £5,000, with a win rate of 55%. Then the assumption is that these traders only bet 1% of their stock, which is £50 on each trade. The principle of this scenario is to use a stop-loss order where the order is placed five pips from the trade price and eight pips for the target. With eight divided by five, in the end, the trader will receive a reward chance of 1.6x higher than the loss. Thus, traders will get a bigger chance of winning than losing.
Every two hours a trader trades a Forex pair in active time, it will be possible to make about five trading rounds, including their entry and exit rounds. If within a month there are 20 trading days, then on average there are 100 trades a month.
Forex brokers in the U.S. typically give leverage to 50: 1 on major FX Pairs. This is an example of a 30: 1 ratio.
If the trader has £5,000 with a leverage of 30: 1, the trader can take positions up to 30 times, which is £150,000, while the amount of risk is still based on the original £5,000.
There is no commission paid by most Forex brokers. They earn commission by an increase in the spread on the bid and ask price. That makes day trading profits even more difficult. On the other hand, ECN brokers usually offer small spreads to make it easier for them to get profitable trades. As a commission, they will charge approximately £2.50 for every £ 100,000 you play.This simple strategy using the concept of risk control shows that a win rate of 55%. By generating lots of wins and avoiding many losses, traders can generate returns of up to 20% per month from each daily Forex trade. Even though, in theory, this strategy has a high success rate, its implementation will be quite hard. With the appropriate win rate and risk/reward ratio, a resilient Forex day trader using the right strategy can make quite a fortune thanks to leverage. The capital you need is not high.
We've collected thousands of datapoints and written a guide to help you find the best Forex trade profit 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 Brokers below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Brokers 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 Brokers.
Compare Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Brokers that accept Brokers clients
Broker |
eToro
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IC Markets
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XTB
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AvaTrade
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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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FXPrimus
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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) | 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) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) |
Min Deposit | 200 | 200 | No minimum deposit | 250 | 100 | 1 | 100 | 200 | 100 | 5 | 100 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 200,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ |
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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, 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 | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
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Learn More |
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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 |
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Up with fxprimus |
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 | 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 | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
AvaTrade Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus 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, 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 | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. |
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We have listed top Brokers below.