Choosing the right forex broker in 2020 offering online currency trading for you might take time. There is so much you need to go over – the quality of customer service, online or download trading platform, different types of forex accounts, forex brokers policies, promotions and forex bonus along with their requirements, leverage options, commissions, regulator authority… well, you got the picture.
In this section we compare 100 online brokers in the industry to give you an over-all picture of their offered services. You can also view detailed reviews of these brokers we have collected in this 100 Forex Brokers Reviews and Rating.
To make things slightly easier for you ForexExplore has come up with the list of forex broker reviews to compare. Prior trading with real money, it is advisable to read forex brokers reviews, open demo account with selected brokers list of comparison, figure out if the trading conditions provided suits you and only then deposit real money.
|Broker Reviews||Rating||Demo||Leverage||Bonus||Platforms||Min Deposit||Payments|
|OctaFX||9||yes||1:500||up to 50%||MetaTrader 4, Metatrader 5, cTrader||5||Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay|
|2invest||8||yes||1:200||Samsung Galaxy, iPhone||Metatrader 4||200||Skrill, Neteller, Credit Cards|
|LiteForex||7||yes||1:500||30% + 15%||Metatrader 4, Metatrader 5, WebTerminal||10||credit cards, wire transfer, litecoin, bitcoin, skrill, neteller, perfect money, ok pay, qiwi, wallet one|
|InstaForex||7||yes||1:1,000||$100 No Deposit Bonus||MetaTrader 4, Metatrader 5, Webtrader||1||Bitcoin, CashU, credit cards, EgoPay, Neteller, Skrill, Ukash, UnionPay, WebMoney, wire transfer|
|XM||7||yes||1:888||$30 no deposit||MetaTrader 4, Metatrader 5, XM Webtrader||5||Credit Card (Visa, Visa Electron, MasterCard, Switch, and Solo), Neteller, Skrill, Wire Transfer, Western Union, MoneyGram, WebMoney, China UnionPay, Local Bank Transfer, SOFORT, iDEAL, paysafe card, QIWI, CASHU, ABAOOS, MONETA, giro pay,Przelewy24,l Astro Pay Card, FasaPay|
|Pepperstone||7||yes||1:500||100% Match Bonus||Metatrader 4, Metatrader 5, cTrader, cAlgo, cMirror||200||bPay, credit cards, Paypal|
|AvaTrade||6||yes||1:400||100%||AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptions||100||Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney|
|FP Markets||6||yes||1:500||10% credit bonus||MetaTrader 4 (MT4), IRESS, Mobile trading||200||credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer|
|TradeFW||6||yes||1:30||https://www.forexexplore.com/forex-brokers/tradefw-review||0||Bank wire, Credit/Debit Card.|
|FxPro||5||yes||1:500||up to $1,000||FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium||100||Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill|
|FXCM||5||yes||1:200||-||Trading Station II, MetaTrader 4, Active Trader, Forex System Selector||250||Credit/Debit card, Online Check, Bank Wire, Paper Check|
|Plus500||5||yes||1:200||30%||Plus500||500||Skrill, Credit Cards, Wire Transfer|
|IronFX||5||yes||1:500||40%||Metatrader 4||100||credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer|
|Dukascopy||4||yes||1:500||-||Dukascopy||250||Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts|
|Forex.com||4||yes||1:200||-||ForexTrader platform (in-house), MetaTrader 4||50||wire transfer, Credit/Debit Card, Check|
|HYCM||4||yes||1:400||25% up to $5,000||Metatrader 4||100||credit cards, wire transfer, Skrill, webmoney|
|AdvancedMarkets||4||yes||1:50||-||Advanced Trader/Pro/Prime, Fortex FX||500||Wire, Check|
|CMTrading||4||yes||1:400||15% match||MetaTrader 4, Sirix||200||credit/debit cards, Wire transfer, CashU ,Skrill|
|Blueberry Markets||4||yes||1:500||MetaTrader 4||100||credit cards, wire transfer, POLi, Skrill|
|Priorfx||4||yes||1:200||Metatrader 4, Webtrader, Autotrade||250||wire transfer, credit cards, Skrill, Neteller, PriorFX prepaid card, Yandex, Webmoney, Qiwi, UnionPay|
|FXDD||3||yes||1:200||-||MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtreme||100||Wire, PayPal, Check, BPS|
|Tallinex||3||yes||1:1,000||Metatrader 4||100||credit cards, wire transfer, Skrill, Neteller|
|Oanda||3||yes||1:50||Metatrader 4, FXtrade||1||check, Credit cards, PayPal, Wire transfer|
|iFOREX||3||yes||1:400||-||FXnet Trader||100||credit cards, wire transfer|
|DFMarkets||3||yes||1:200||10% Trading Credit Promotion up to $1,000||DFTrader, DF WebTrader, DF Mobile||100||Bank wire, Credit/Debit cards|
|Tickmill||3||yes||1:500||-||MetaTrader 4, Webtrader||100||wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney|
|TenkoFX||3||yes||1:500||MetaTrader 4, Webtrader||10||Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi|
|Z.com Trade||3||yes||1:200||Z.com trader web, Z.com trader pro (demo account only)||1||credit cards, wire transfer, china unionpay, skrill|
|AGEA||2||yes||1:500||-||Streamster, MetaTrader 4||1||Credit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money|
|CMCMarkets||2||yes||500:1||-||Next Generation web-based||1||Credit cards, Wire Transfer|
|ActivTrades||2||yes||1:400||Metatrader 4, Activtrader||100||Credit Card, Wire transfer, neteller, skrill, sofort|
|Hotforex||2||yes||1:1,000||100% bonus||Metatrader 4, mobile platform, rapid trader fix/api||5||credit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay|
|Alpari||2||yes||1:500||50% Welcome||MetaTrader 4||1||Debit or Credit Card, Wire Transfer|
|FinPro Trading||2||yes||1:200||100%||Metatrader 4, zulutrade, Finopro station||5||credit cards, paypal, skrill, wire transfer|
|Blackwell Global||2||yes||1:200||-||MetaTrader 4, Blackwell Pro, Mobile||2000||redit/debit cards, Neteller, Skrill, Wire transfer|
|AAAfx||2||yes||1:200||up to 30%||ZTP, MetaTrader 4, Binary options webtrader, Zulutrade||300||Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi|
|XTB||2||yes||1:200||Metatrader 4, xStation, xMobile||250||Credit cards, Neteller, Paypal, Skrill, Wire transfer|
|EasyMarkets||2||yes||1:100||Metatrader 4, EasyMarkets web-based platform||100||credit cards, neteller, Skrill, Webmney, wire transfer|
|CityIndex||2||yes||1:400||-||MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet App||100||Credit/Debit Cards|
|Markets.com||2||yes||1:200||up to $2,000||Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTrader||100||Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments|
|eToro||1||yes||1:400; 1:1 for Crypto Currencies||-||eToro Platform||200||Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer|
|Tifia||1||yes||1:1,000||Metatrader 4, webtrader||10||wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay|
|RealTrade||1||yes||1:500||30% welcome bonus||MetaTrader 4||20||Credit Cards, WebMoney, and Wire Transfer|
|FXOpen||1||yes||1:500||$100||MetaTrader 4||1||Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney|
|House of Borse||1||yes||1:100||MetaTrader 4||50000||credit cards, wire transfer|
|Igofx||1||yes||1:1,000||Metatrader 4||1||wire transfer, credit cards, perfect money|
|Fort Financial Services||1||yes||1:1,000||MetaTrader 4, CQG, Ninja trader, binary options||5||Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer|
|TraderTrust||1||yes||1:200||100% upto $5,000||SmartForex||100||Skrill, Credit Cards|
|MEX Exchange||1||yes||1:500||Metatrader 4||25||Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer|
|FBS||1||yes||up to 1:3,000||$123 Welcome Bonus||MetaTrader 4, Metatrader 5, Webtrading||1||credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill|
|Forexer||1||yes||1:500||Forexer platform (Metatrader 5 version)||200||wire transfer|
|Simplefx||1||yes||1:100||MetaTrader 4 and in-house web-based platform||1||Wire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin|
|Synergy FX||1||yes||1:500||MetaTrader 4||500||credit cards, skrill, wire transfer|
|Financika||1||yes||200:1||Profit, WebProfit, MetaTrader 4||250||credit cards, wire transfer|
|FCI Markets||1||yes||1:100||Currenex, FCI NetStation, MetaTrader 4||250||credit cards, neteller, skrill, wire transfer|
|Fortrade||1||yes||1:200||Fortrader||500||wire transfer, credit cards, skrill, neteller|
|FXGiants||1||yes||1:500||MetaTrader 4||500||credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer|
|FXGlobe||1||yes||1:500||MetaTrader 4||250||Credit cards, Neteller, Skrill, Wire transfer|
|FXlider||1||yes||1:200||MetaTrader 4, Sirix, ZuluTrade, FXlider mobile, FXlider Copy Trader, FXlider Trader||100||wire transfer, credit cards, neteller, skrill|
|FXonus||1||yes||1:500||MetaTrader 4||500||Credit Cards, Skrill, Neteller, Wire Transfer, China Union Pay|
|FXoro||1||yes||1:400||Metatrader 4||200||credit cards, wire transfer, skrill, neteller, ecoPayz, CashU|
|FXprimus||1||yes||1:500||Metatrader 4||100||Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer|
|Infinox||1||yes||1:300||Metatrader 4||100||credit cards, wire transfer, skrill, neteller, china unionpay|
|Itrader||1||yes||1:500||MetaTrader 4, Webtrader (in-house), Mobile||250||wire transfer, credit cards|
|JCMFX||1||yes||1:1,000||MetaTrader 4||10||credit cards, FasaPay, Wire Transfer, Neteller, Skrill|
|Larson&Holz||1||yes||1:500||Metatrader 4, Web Trader||100||credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money|
|LCG||1||yes||1:500||MetaTrader 4, LCG Trader (web-based, ECN accounts only)||1||wire transfer, debit/credit cards, Skrill|
|LMFX||1||yes||1:1,000||100% match bonus, 15% recovery||Metatrader 4, Webtrader||50||credit cards, Fasapay, neteller, okpay, skrill, wire transfer|
|LQDFX||1||yes||1:500||MetaTrader 4, xStation||20||Wire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal|
|Mahi FX||1||yes||1:100||Metatrader 4, MahiFX||1||wire transfer, credit cards|
|Paxforex||1||yes||1:500||No deposit $7 bonus – cannot withdraw||MetaTrader 4||10||Credit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer|
|Pricemarkets||1||yes||1:400||MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FX||500||wire transfer, credit cards|
|Rallytade||1||yes||1;1,000||Metatrader 4, xStation (web-based), xSocial, xOptions||100||credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay|
|Range Markets||1||yes||1:500||Metatrader 4||100||Neteller, Credit Cards, wire transfer|
|Rekuten Securities||1||yes||1:50||MarketSpeed FX, Trading Station (inherited from FXCM)||1||wire transfer, checks, ATM (only for local residents)|
|Roboforex||1||yes||1:500||MetaTrader 4, cTrader||1||credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money|
|Templefx||1||yes||1:400||MetaTrader 4, TempleFX Trader (web-based)||50||Wire transfer, credit cards, Skrill, Sofort, Neteller, UnionPay|
|Tradeo||1||yes||credit cards, wire transfer, Skrill and Neteller||20%||Tradeo webtrader, Metatrader 4||250|
|Tradersway||1||yes||1:1,000||Metatrader 4, ctrader||0||Skrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU|
|Trading212||1||yes||1:200||Trading212||100||wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay|
|Tradize||1||yes||1:1000||100||Skrill, Neteller, credit cards|
|TurnkeyForex||1||yes||1:200||00% deposit bonus; 30 days of commission-free trading; 30% rescue bonus||MetaTrader 4, Trade Station||5||credit cards, wire transfer, neteller|
|Whaleclub||1||yes||1:100||in-house whaleclub web platform||1||bitcoin|
|Freshforex||1||yes||1:1000||SIGN-UP BONUS ¢100!||Metatrader 4||1||Debit/credit cards, Neteller, OKPAY, W1, QIWI, Webmoney, Skrill, FasaPay, Contact, Wire transfer|
|AAAECN||0||yes||1:200||MetaTrader 4||100||credit cards, wire transfe|
|FxGlory||0||yes||1:3,000||50% up to $1,000||MetaTrader4, Mobile||1||Credit/debit cards, Paypal|
|TrioMarkets||0||yes||1:300||-||MetaTrader 4, Sirix Webtrader||100||Credit Card, Wire, Skrill, Neteller, Paypal and CashU|
|Orbex||0||yes||1:500||MetaTrader 4||500||Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney|
|AccentForex||0||yes||1:500||50%||MetaTrader 4||10||WebMoney, OkPay, Skrill, Wire Transfer, Credit Cards|
|GrandCapital||0||yes||500:1||$500 no deposit||MetaTrader 4, WebTrader||10||Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney|
|10Markets||0||yes||1:200||n/a||MetaTrader 4, 10Markets WebTrader||200||Debit/Credit Cards, Wire Transfer|
|AlfaTrade||0||yes||200:1||-||MetaTrader4, Webtrader||500||Wire Transfer, Credit Cards, Skrill, Neteller|
|Squared Financial||0||yes||300:1||-||MetaTrader 4, mobile||500||wire Transfer, CashU, Credit Card, PayPal|
|Alvexo||0||yes||400:1||-||MetaTrader 4, WebTrader, Mobile||5000||Cash-U, Credit Card, Webmoney, Wire Transfer|
|RubixFX||0||yes||400:1||-||MetaTrader 4||500||Wire Transfer, Credit Cards|
|NSFX||0||yes||200:1||Metatrader 4, Webtrader, NSFX Jforex platform||300||credit cards, Skrill, CashU and wire transfer|
|FXGrow||0||yes||200:1||-||MetaTrader 4, NetStation||100||Credit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer|
|Juno Markets||0||yes||1:400||-||MetaTrader 4||500||neteller, skrill, credit cards, wire transfer|
|TeleTrade||0||yes||1:200||24%||MetaTrader 4, Mobile||2000||credit cards, Wire transfer, Neteller, Skrill|
|KGIeworld||0||yes||1:50||-||MetaTrader 4||1000||Wire Transfer, Check|
|Abshire-Smith||0||yes||1:200||Vertex fx, Metatrader 4, straticator||500||CashU, Neteller, Skrill, Wire Transfer|
|Adamant Finance||0||yes||1:500||Metatrader 4||1||Bitcoin, CashU, credit cards, FasaPay, MegaTransfer, Neteller, OKPAY, QIWI, Webmoney, Yandex.Money|
|Alfa Financial||0||yes||1:100||MetaTrader 4, AX1Trader||10000||yes|
|AsiaFXI||0||yes||1:400||30%||in-house platform||100||wire transfer, credit cards, Neteller, Skrill, PayPal|
|BlitzBrokers (IB for AxiTrader)||0||yes||1:500||MetaTrader 4||1||Credit cards, Neteller, Skrill|
|CIBfx||0||yes||1:200||MetaTrader 4||100||Paypal, Skill, Credit Cards, Neteller|
|Citypoint Trading||0||yes||1:100||MetaTrader 4, Vertex||20||credit cards, wire transfer|
|CMS Trader||0||yes||1:200||Sirix||500||credit cards|
|Darwinex||0||yes||1:200||MetaTrader 4, cTrader||500||Bank Wire, Credit Cards, UnionPay|
|ETX Capital||0||yes||1:200||ETX Trader Pro, Metatrader 4, ETX binary||100||credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay|
|Hydra Markets||0||yes||1:1,000||Metatrader 4||100||Skrill, Neteller, credit cards|
|Swissmarkets||0||yes||1:500||Metatrader 4, Webtrader||200||credit cards, wire transfer, neteller, skrill, iDEAL, giropay|
|Trade360||0||yes||1:1,000||35%, $60 no deposit for real account||Trade360||100||credit cards, skrill, neteller, wire transfer|
|ForexMart||0||yes||1:1,000||$150 no deposit needed||Metatrader 4||1||credit cards, neteller, skrill, paypal, paxum|
|Trader.Online||0||yes||1:200||Trader.Online Platform||250||Credit Cards, Wire Transfer|
|Forexee||0||yes||1:500||Special trading commission $1, Welcome Bonus $15 for STP, 0% commission for deposits||MetaTrader 4||50||Credit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money|
|AETOS||0||yes||1:200||MetaTrader 4||250||Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY|
|LH-Crypto||0||yes||1:500||Metatrader 4, Metatrader 5||10||Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer|
The Ultimate Guide to
Choosing a Broker For Forex
Can't decide which broker to trade with?
Don’t worry - we can help. Let's go over most important factors effecting the quality of the brokerage firm.
Looking for the Best Forex Broker ?
If you would like to begin your long lasting career in Forex trading in 2019, you already know by now that you have to check out the best Forex brokers, and choose one that suits you the best. In this section we will discuss the main features and characteristics that turn an average company into the blessing from up above!
Forex trading industry is extremely competitive and lots of online brokers, new and old, compete for the title of top brokerage by improving their spreads, adding new innovative features, proving security to the clients, working hard on solutions through customer support and so on. As a complete beginner looking for a new broker to start with, it is rather intimidating to see endless amount of Forex brokers flashing their offers at you.
In order to filter the junk and concentrate on the best Forex broker for 2019 and 2020, this section has been created to help you identify the most popular broker among traders.
Why one brokerage is better than another?
- Tighter spreads
- Accepts various funding/withdrawal methods including online alternative payment methods such as Paypal, Skrill, Neteller, Bitcoin
- Offers various platforms including Metatrader 4, Copy Trading features, Automated trading capabilities
- Regulated by multiple regulatory authorities such as FCA, CySEC, MiFID etc.
- Allows all types of trading including scalping and hedging
- Offers various trading instruments from Forex, CFDs to Commodities, Indices and Cryptocurrency
- Wide range of currency pairs to choose from including Bitcoin
Important features to consider when choosing the best broker for you
The security of your funds is one of the top priorities when it comes to quality. The brokerage needs to keep its own funds separately from the clients funds, aka your funds need to be kept in so called Segregated accounts. The website of the company in question should also be secured, especially when Web-based platform is used, and provide SSL encryption, in other words Secure Sockets Layer.
2. Customer Support
You will not be satisfied, if you have a problem and there is no one who can help you promptly. The best sites have various ways to get in touch with the customer representatives via phone, email, online chat, skype and even through trading platform itself. This is one of the most important factors to consider, because there will be billions of questions regarding both trading and technical and the last thing you want is a shady support that takes more than a day to give you a proper answer. Sufficient support must be almost immediate, especially if the problem is technical, and related to the platform, withdrawals, deposits, login, features of the interface you use.
3. Regulatory Authorities
Regulation should be considered as well, because a trustworthy broker is regulated. Do not rely on the wording on the broker's site because the regulation might be revoked or pending, or even non existent and it is always worth rechecking the current status of the regulation. The online Forex broker must be regulated with a proper regulatory body, all of which have their own website and database of the regulated firms. You can easily browse through the site of NFA or FSA and check whether your broker's name is in their lists of regulated and approved companies.
4. Trading Spreads
You have to find good deal on spreads or commissions (for ECN brokers, for example) because this is what you pay the broker for it's wonderful services. Spreads vary largely from one brokerage to another, so take your time an do your research to find the lowest spreads (also called pips) for the currency pairs you are interested in trading. Good broker is the one that brings you the tight spreads on major currency pairs such as USD/EUR and GBP/EUR.
5. Initial Deposit Requirement
Believe it or not, there are some firms that have obnoxiously high deposit requirement of thousands of dollars and in our eyes it is rather ridiculous request. When a trader is ready to trade thousands, he or she sure will, but the initial deposit should not be higher than couple of hundreds. Some online brokers go one step further offering minimum deposit of just a dollar or five and allow you to start with cent account, which is by the way the best way to move from demo account to live trading and work up your skills and experience.
6. Account Types
There are all types of traders with different level of experience and skills. They can be classified into several groups, but should not be forced to trade using the same account with the same features, because beginner trader has completely different needs compared to professional trader with years of experience. So one more important factor is variety of trading account types to fit your current trading requests.
7. Regular Promotions
Everyone loves bonuses and it is fun to increase your potential profit with a bit of more free cash. Even if you cannot withdraw the money, look for bonuses that allow you to withdraw the profits. Those are our true favorites, after no deposit bonuses!
8. Types of Payment Methods for Depositing and Withdrawing Funds
Well established and trusted sites bring you tones of funding methods to choose from and do not just prison you with Credit Card and Bank Wire options! A good broker should have Paypal, Skrill, Bitcoin and other attractive alternative funding methods with no deposit and withdrawal fees! Overall, the whole deposit and withdrawal processes must be easy and up on request, without any crazy requirements from the brokerage. When you can easily withdraw your profits, your trust and love to your broker only grows bigger.
9. Currency Pairs
The more choices you have, the better for you! Of course most traders are focused on dollar euro pair, however there is huge selection of currency pairs that can help you not only diversify your trading portfolio but can help with hedging and volatility.
10. The Trading Platform
Technical functionality of the platform, user-friendliness and overall performance is the top priority. What kind of features does it have? Is it web-based or download ( what do you prefer?)? Does it have risk management tools? How advanced are the charts? Is there Social Copy Trading features? What about Expert Advisors? How often do you experience errors or freeze, especially during volatile market hours? The quality of your platform will define your loss and profits, so make sure to choose a good one!
11. Demo Account?
Good online brokers is not afraid to let you try it for fee. Without any deposits, you can try out the platform and all the features with virtual money. This is not only good for gaining some level of experience, but also getting to know the interface and navigation. Brokers which do not offer practice accounts should be avoided.
12. Social Trading
Today you do not feel alone anymore, since all top-rated sites let traders get in touch with one another, follow and even copy the top performing traders automatically. This is not only the best way to learn and meet people with the same mind set and profession, but also a great way for beginners to simply copy and observe the pros.
While nothing is black and white and there isn't an ultimate list of features a top brokerage should possess, but if you pay attention to the factors mentioned above when you chose an online Forex broker, we strongly believe that at the end you find the site that fits all of your necessary request.