If you are new to the world of Forex trading or perhaps an experienced player who has hit a bit of a rough patch financially, you might find it helpful to reconsider your strategy in the game.
A big part of that strategy involves what broker you choose to get you into the game and equip you with the tools.
Choosing the right broker is not an exact science. While there are official ratings of brokers to consider how good their services are, what really matters is how well equipped they are to comply with your personal trading style. Before you take a look at the types of accounts on offer, bonuses, trading assets, platforms and so forth you need to find out it if the broker is licensed and regulated by a government agency. No matter how attractive the other features are, the lack of official regulation can make you a lot more vulnerable to being scammed.
Once you know the broker is legitimate, you can probe into its other features to find out how well it will stack up with your preferred financial strategies and devices. Here are our top candidates for you to consider as your ideal broker in Forex trading.
And now, onto our top three selections of the best Forex brokers you can trade with right now.
Founded in 2006, AvaTrade is one of the world’s leading Forex brokers with subsidiaries in Dublin, New York, Sydney, Tokyo, Milan and more. It is a regulated Forex broker under the Central Bank of Ireland, Australia’s ASIC, Japan’s FSC, the B.V.I Financial Services Commission and is licensed by the MiFID of the European Union.
Traders get just one account to trade with which requires a minimum initial deposit of $100. Leverage stands at 1:400. Beginning from 0.9 pips, both fixed and floating spreads are available by this broker, some of the most competent spreads anywhere.
AvaTrade is one of the pioneering brokers in implementing CFD trades and trading in digital currencies making Bitcoin accessible to retail traders. Their trading platform is user-friendly and available in English, French, Spanish, Portuguese, German, Italian, Chinese, Japanese, Taiwanese, Russian and Arabic.
The types of orders a trader can make on the AvaTrade platform include Entry Stops and Trailing Stops, Stop Loss orders, Limit orders, Entry Limits and Market orders. More advanced orders like IF Done orders and One Cancels Other orders can also be made.
These are currently some of the most reputed and highly rated Forex brokers you can select right now, but of course, the really important thing to know about any of them is that they are compliant with your own personal tactics and strategies as a Forex trader.
How We Test and Review Forex Brokers
When evaluating forex brokers we at ForexBrokers.com employ a thorough and objective review process to ensure that we provide accurate and reliable information to our readers.
Our team of experts thoroughly researches each broker taking into consideration factors such as the offering of investments commissions and fees platform and tools research education mobile trading and trust score.
We also employ advanced techniques such as Latent Semantic Indexing (LSI) and Natural Language Processing (NLP) to analyze the content and structure of each broker’s website ensuring that our reviews are comprehensive and reflective of their offerings.
Additionally we consider the experience and expertise of industry professionals such as Blain Reinkensmeyer Steven Hatzakis and John Bringans to provide valuable insights and recommendations.
Our goal is to provide traders with unbiased and accurate information so that they can make informed decisions when choosing a forex broker that suits their needs and investment style.
By considering the regulatory compliance trading platforms tools and educational resources of each broker we aim to assist traders in finding the best forex broker for their trading journey.