Choosing one out of hundreds Forex brokers is not only difficult but also takes quite a lot of time. This website is your gateway to tested and reviewed top Forex brokers, which is the ultimate collection of detailed Forex brokers reviews. Apart from our own view on each brokerage, you have access to feedback from traders in every Forex broker review on this website. This way, we believe, you can make proper, logical and well informed decision.
While looking for best online Forex brokers you have to consider various factors. Regulated brokers are definitely something you might want to consider for more secure trading environment and throughout this website, you will see that we strongly support regulated companies within the recommended top Forex brokers. While regulation is one of the major factors to check, you also want to go over the spreads, leverage options and trading instruments available. This can all be done within this site and our Forex broker reviews and detailed Forex broker ratings. Once you have found several companies you think are good to trade with, we advise to try out the top selected Forex brokers free demo accounts, since this is a great way to get the feel of the features, trading platforms, customer support and more. With practice accounts you can easily choose the best Forex broker that suits your requirements and financial ability. Check out our Forex broker reviews for August 2020!
Broker Demo Bonus Min Deposit Review Rating OctaFX yes up to 50% 50 OctaFX Review 9 LiteForex
yes 30% + 15% 10 LiteForex
Review 8 XM yes $30 no deposit 5 XM Review 8 AvaTrade
yes 100% 100 AvaTrade
Review 7 InstaForex
yes $100 No Deposit Bonus 1 InstaForex
Review 7 PrimeXBT yes 1 PrimeXBT Review 7 Anzo Capital yes 100 Anzo Capital Review 7 FxPro yes up to $1,000 100 FxPro Review 5 FXCM yes - 250 FXCM Review 5
Find the right broker and invest on your own
Overall Forex is not that hard to conquer if you put your head into it from the start. It is important to understand that losses are part of the game and the end result within a certain time frame is what separates immatures from professionals. Before you step into real trading arena, make sure you are well familiar with technical and fundamental analysis within currency pairs you are interested in working with and how they are effected by various news and indicators. Once you grasp that bad boy, you are on your way to successful trading experience.
Forex has both gains and losses as part of its infrastructure, just like many other investment options. Your best way to become successful in it is to demo practice, then move to cent account followed by more serious trading with live account. Don't try to just into water filled with sharks without knowing how to swim first. Most Forex brokers give traders unlimited demo account to practice with, so use it until you demo trade with your eyes closed.
What is important when you choose a Forex Broker?
1. You want your money to be safe. Whether it is your deposit or profits made off trading, you seek Forex brokers that are regulated and licensed by recognized regulatory authorities. These organizations keep brokerage firms at bay and make sure your funds are kept in segregated accounts, meaning that the firms money do not mix up with clients money.
2. When you have questions, you want answers. The last thing you need is to get into some sort of predicament and be able to reach broker representatives or assistance or additional information. Companies without clear contact information listed on their site should be avoided at all costs. There must be phone numbers, email addresses, physical address of the company and even live chat on the site. Most brokers today have online representation these days for immediate help.
3. Various account types is a nice touch from Brokers these days. Different accounts can assist different types of traders with various trading features needs and money requirements. Some of us can trade with $1,000, others find it more comfortable to start with $100. There is also spread features such as fixed or floating, ECN and STP, high leverage or very low safe options and more. Some companies offer bonuses, competitions, free seminars and webinars and so on.
4. Whether you like it or not, you have to check out the initial deposit requirements. Even if you have found the Broker of your dream, the minimum deposit requirement might be too high. There are brokers with as little as $1 requirements, and others that go all the way up to $2,500 and more. You might want to see the payment options and choose the one that is most comfortable for you to work with. It can be credit cards, wire transfer, Paypal, Skrill and other online payment systems.
5. May attention to any charges and fees the broker might impose on you for deposits or withdrawals. While some charge, others may have no charges at all. When you seek a Forex broker to open account with, read through the small letters about the fee charges involved.
6. Demo account is a must, whether it is unlimited or for a limited time. These days Forex broker without free demo account is really frowned on. Demo accounts are necessary for beginners to try out and test drive the platform without putting any real money into it. Brokers have to offer this option with virtual funds without limitations or for at least a month. This is your chance to get to know Forex trading a bit and learn the features of the platform you chose to work with.
7. You want Forex brokers to have the currency pair you choose to trade. Most firms obviously offer the major currency pairs such as USD/UER, JPY/USD and bitcoin (cryptocurrency).
8. Trading platform is available within each broker. The question is whether it is a good one! What you have to decide is whether you wish to trade with web-based platform or a download one - both have their own perks. You want to be able to place orders, get forex news, maybe even signals, check out technical analysis, follow your trading performance on the go and much more.
9. Trading is never ending process of learning. The more you learn, the better you become as a trader. Some brokers provide serious educational material and various sources of knowledge such as videos, seminars, webinars and more. Most broker site are now equipped with at least weekly analysis. Some go even further and offer daily news updates. All types of fundamental analysis in addition to technical gives you a major upgrade in the investing field.
10. Some brokers have no bonuses and promotions at all. For clients who seek a bit of extra on each deposit, for example, or prizes for top performing trader for competitions, the lack of such is a huge minutes. Welcome bonuses and loyalty bonuses are a lot of fun and can really boost your account balance for greater trading achievements. There are many brokers who offer all sorts of promotions to choose from, such as money, prizes, car raffles and vacations in return to your trading performance or the amount deposited.
Is there a good broker in forex?
More country specific forex broker listings:
Islamic Forex Brokers toplist
Most reliable online forex broker in 2020 are heavily regulated by the well-known financial regulatory bodies operating either in their home country. In the best case scenario you find a broker regulated by various financial agencies. The regulation provides traders with security against fraud because a broker in question has to follow strict rules and requirements in order to keep the license and its' reputation.
Is there much of a difference where a broker is located?
Obviously location is important, especially when you deal with regulation. For example, UK brokers regulated in London is much more valuable than, let's say, Cyprus regulated offshore brokers.
Last Word on the Matter
Today we look around the we see people working hard but not necessary gaining much. Fore trading can be the gateway to big profits in rather short period of time and this is why so many people are interested in it as an investing opportunity. A lot of stock traders switch to forex because it is must more dynamic market and offers true investing opportunity for each and every one of us. The only problem is that there are hundreds of brokers our there and choosing the right broker is not as easy as it may seem.
We are here to make your selection of a Forex broker a bit easier. This website has reviewed hundreds of top rated Forex brokers and have added feedbacks from real traders at the end of each review. So before you plunge into real trading and make a deposit, invest in time to read Forex broker reviews presented here and minimize your chances of falling into the hands of fraud.