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Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under CySEC are required to remit their contribution to the ICF (Investor Compensation Fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.
It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as Commodity Futures Trading Commission (CFTC), National Futures Association (NFA) and Financial Conduct Authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds. Is forex trading a good idea?
Almost every forex broker aims to provide its clients with research content and tools to find and analyze investment opportunities. At the same time, we are living in the digital information age where traders can get lost in the sea of forex news headlines, making it hard to get the information they need unless brokers provide the right structure for forex research. Is a higher or lower exchange rate better?
Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.
While the all-in cost to trade can be critical for many traders, it is essential to look at the whole picture in terms of how a broker’s overall offering could best suit your needs. Questions to ask include: What are average spreads for the account types offered? How will differences in margin requirements or execution type offered affect my forex trading volumes and related trading costs? These are just some of the questions that can help traders consider key differences between offerings. How do I add a broker to mt4?
Pepperstone is an Australian broker based out of Melbourne. It offers competitive, full-featured trade execution through multiple platforms, including MetaTrader 4, browser-based entry, and mobile devices. Customers can choose among 80 tradable instruments in 72+ asset classes (including forex, index CFDs, commodities, metals, and cryptocurrencies) across the globe through a diverse range of account types that include commission-free execution and active trader benefits. An AUD $200 minimum deposit supports small trading accounts; extensive research and educational resources build users' skill levels and profit-opportunity recognition.
Forex.com, the primary brand of publicly-traded GAIN Capital (NYSE: GCAP), is also one of the first forex-specific brokers on the scene. Within the past several years, the company has acquired several businesses, some in the U.K. This includes the well-established CFD, forex, and spread-betting company, City Index. Because of this and other acquisitions, GAIN Capital has been able to acquire customers from across the globe and is an industry leader in most markets. This includes the U.S., where it currently edges out its primary competitor, OANDA, in terms of customers assets. Can I trade Forex without a broker?
Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.
IG is the largest CFD dealer (based on trading revenue) with the largest number of active financial spread betting accounts in the UK. As noted, the company just began serving U.S. clients once again, in February 2019 (IG had operations in the U.S. previously before leaving). Its size allows it to offer some of the lowest spreads and commissions in the industry. IG Group is a FTSE 250 company with more than 185,000 clients worldwide.
OANDA is one of the earliest pioneers of the retail forex industry. Having roots in academia, the company built its reputation, product offerings, technology, and customer base to the point now that it’s one of only two forex-only brokers in the U.S., and also serves customers throughout the U.K., Singapore, Canada, and Australia. Since the company’s inception back in the 1990s, OANDA has been at the forefront of retail forex, offering the latest trading technology and services to a global customer base. Which currency pair is most profitable in Forex?
To trade forex, you need an online broker. Trading with a trusted forex broker is crucial for success in international currency markets. As a currency trader or investor, you may have specific needs related to which platform, tool, or research requirements should be met. Understanding your investment style can help determine which fx broker will be best for you.
When it comes to competitive all-round pricing, CMC Markets took first place as the best broker in the commissions and fees category. With an average spread of just 0.744 pips on its EUR/USD (using September 2018 data), CMC Markets offered the most competitive all-in cost to trade, considering there were no added commissions or fees. Also, the broker’s active trader rebate program helps to round off its ranking.
Forex.com has been busy at work in the past few years upgrading and revamping its trading platforms and related systems. As a result, the company’s technology, both for Forex.com and City Index, are one of its primary strengths. Additionally, GAIN Capital employs a global team of market analysts that provide clients with useful and constantly updated market insights. Besides the usual forex and CFD markets (outside of the U.S.), Forex.com also offers bitcoin for trading.