Trading brokers

Trading brokers have spent thousands of hours researching and conducting in-depth analysis on hundreds of online trading brokers.

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Find Your Perfect Online Trading Broker, trading brokers.

Min $100 deposit

Find your perfect online trading broker

Trading brokers is dedicated to bringing traders unbiased online broker reviews to help them find the best trading brokers for their online trading needs. We have hundreds of detailed trading broker reviews, ratings and a useful online broker comparison tool to help traders quickly and easily identify the best trading brokers according to their individual online trading requirements.

#1 best trading broker award 2021

Avatrade is an award-winning trading broker that is regulated in 6 jurisdictions offering 250+ instruments across multiple markets & trading platforms for web, desktop & mobile devices. They have low fees, tight spreads & rapid trade execution speeds.

Best online trading brokers

ASIC, BVI, CBI, FFAJ, FSA, FSCA

Min $100 deposit

FCA, CFTC, NFA, bafin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF

Min $250 deposit

ASIC, FCA, DFSA, SCB, cysec, bafin

Min $200 deposit

Min $5 deposit

Min $200 deposit

Min $100 deposit

Min $250 deposit

ACPR, bafin, CNMV, FCA, IFSC, KNF

Min $250 deposit

Min $200 deposit

Online trading broker reviews

Due to the hundreds of online trading brokers, there is no way that you would be able to visit each and every broker and make a decision about whether this is an online broker that you’d be interested in opening a trading account with. Our team has studied hundreds of online brokers and brings you the most vital information in one compact yet detailed online broker review to help you make an educated decision to choose the best trading brokers for your own individual needs.

Compare online trading brokers

All of the trading brokers data that you need to compare online brokers and help you make an educated decision is found at the click of your mouse or a swipe of your screen. Via our online broker reviews, we bring you details such as ratings, regulation, countries supported, trading instruments, trading platforms, trading tools, account types, fees, spreads, leverage, minimum deposit, funding options, customer services and more. Knowing a bit more information about the online brokers available to you can help ensure that you open an online trading acccount at a regulated broker, run by professional companies with an impeccable reputation in the online brokerage industry.

What are trading brokers?

An online trading broker is an intermediary who buys and sells trading instruments on behalf of its clients for a commission fee and/or spread mark up. They provide online traders with access to online trading platforms so that individuals can trade markets such as forex, stocks, commodities, cryptocurrencies, futures, indices, metals, energies, options, bonds, etfs, cfds, etc. In addition to providing trading accounts and platforms, these trading brokers usually provide a range of online brokerage services including educational materials, trading tools, market analysis, trading apps, social trading platforms and more.

With hundreds of trading brokers offering different products and services across the globe, it is imperative to choose a broker suitable to your requirements. We have a comprehensive database of trading broker reviews to help you identify some of the best trading brokers according to our detailed research. For more information you can read our trading brokers guide.

How to trade online?

Online trading involves investing in financial products using an online trading platform provided by a trading broker who will offer a range of different markets and assets for trading online. When you trade online, you are buying (going long) or selling (going short) financial instruments and speculating on if the prices will increase or decrease, in order to try and profit from market movements. An online trading broker acts as the intermediary between the trader and the markets that they are trading.

Trading online is easily accessible, anyone who has an internet connection can open a brokerage account and trade online via electronic trading platforms for desktop, web and mobile devices. If you are looking for an online broker to trade with, you can see a list of our best trading brokers. For more information about trading online, please see our how to trade online guide.

Best online trading brokers

Here you will find a selection of our best trading brokers. If you are looking for the best trading brokers for trading a particular asset class, you can view our best forex brokers, best stock brokers, best cfd brokers and best crypto brokers. If you need help choosing from the best brokers for trading online, you can use our free online trading broker comparison tool to quickly compare trading brokers based on trading platforms, trading instruments, minimum deposit, regulations, leverage, funding options and more.

#1 best trading broker award 2021

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Trading brokers have spent thousands of hours researching and conducting in-depth analysis on hundreds of online trading brokers.

We aim to provide unbiased online trading broker reviews to give traders a clear understanding of the different brokers available to them. Traders can use our free service but make their own decisions when choosing an online trading broker suited to their individual needs.

Whilst most of our data has been verified directly from these brokers, it can occasionally vary. We are not responsible for incorrect or outdated information within our online trading broker reviews and you should confirm all data directly with the broker. Rates, terms, products and services on third-party websites are subject to change without notice.

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Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. All providers have a large percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

11 best online brokers for stock trading of february 2021

Want to trade stocks? You’re going to need an online broker, and that broker should offer a reasonable investment minimum, high-quality trading tools, robust access to customer service and no hidden account fees. On these measures, the brokerage firms below earned their place on our list of the best online brokers for stock trading.

We evaluated brokerage firms and investment companies on the services that matter most to different types of investors. For example, for active traders, we've noted online brokers with low or no commissions and robust mobile trading platforms. For people venturing into investing for the first time, we've included the best online brokers for educational resources (including webinars, video tutorials and in-person seminars) and on-call chat or phone support.

Read on to see our picks for the best brokers, alongside links to our investing experts' in-depth reviews on each.

Fxdailyreport.Com

Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Top recommended and the best forex brokers for 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker
min deposit: $250 spread: as low as 0.1 pips leverage: up to 400:1 regulation: ASIC australia and FCA UK	visit broker
min deposit: €100 spread: the spread can be as low as 0.01%” (0.01% = spread for EUR/USD) leverage: 1:294 regulation: ASIC, cysec, FCA (UK)	visit broker
min deposit: $100 spread: starting from 0.9 pips leverage: 400:1 regulation: MIFID, FSB & ASIC	visit broker

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.

Main parameters to be checked for identifying the best forex brokers:

#1: regulations and licenses

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.

#2: forex trading platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: customer support services

Customer support is a key aspect that you need to evaluate. Best fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: deposits and withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: other parameters for identifying the best forex brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the forex market are the best forex brokers to work with.

Why expert traders trade with regulated forex brokers

If you’re looking to become a successful forex trader, then working with a skilled and trustworthy broker is very crucial. In the forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

CFTC and NFA: commodity futures trading commission and national futures association, regulate the financial services sector in united states of america (USA).

Cysec: the cyprus securities and exchange commission is the regulatory watchdog within the cysec domain. It offers services to the EU member states.

FCA: the financial conduct authority regulates the operations of over 56,000 financial services and companies in the UK.

ASIC: the australian securities and investment commission regulate the financial services sector in australia.

FSB: the financial services board is a south african agency which oversees functioning, regulation, and licensing of south african forex brokers.

Bafin: bafin is a financial supervisory authority providing its services to forex companies in germany.

Advantages of regulated forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the forex broker has fully complied.

2. Compensation

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.

3. Effective customer service

Before choosing a forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick deposits and withdrawals

Any reputable forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated trading platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated forex broker.

Understanding true ECN vs STP broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding true ECN vs STP broker

True ECN i.E. Electronic communications network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.E. Straight through processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General overview of true ECN and STP brokers

Use of scalping techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between true ECN and STP brokers

Commission charged

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of trading forex with a true STP broker

Cannot bankrupt themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

Similar price rates

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

Negative balance protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of choosing a true ECN broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of trading forex with an STP broker

Their rates and the interbank prices are same

They provide their clients low entry capital requirements

Cons of choosing an STP broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

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.

Top api trading brokers API trading brokers for 2021

We found 11 online brokers that are appropriate for trading api trading.

Best api trading brokers guide

API trading brokers

Application programming interface (API) is simply defined as a software application that establishes a connection of coded algorithms with that of a broker's platform. Lately, such coded algorithms have gained popularity in the forex trading and such brokers who are mainly using it are widely called API trading brokers.

First lets understand what a trading API is before investing our hard-earned money in the forex market on a broker that supports API trading.

Trading apis

Most of the financial instruments including CFD and forex today use apis as the software application allows connection of front-end system of investor / trader with the back-end system of a broker.

With apis the process and entire communication channel is securely encrypted. Broker trading API's have been thoroughly tested for vulnerabilities.

With the help of API, a trader can conduct trade orders, trade verification, trade settlement and more. A trader can also view live prices as well as get data of the market for the last calendar month, one year and even one decade. This facilitates traders to avoid using a platform or software provided by a broker.

Advantages of trading apis

API's provide historical market data along with the up to date prices. As an API offers live market data and traders can easily understand the executable prices. Traders can analyze markets following the data closely. API's are equipped with risk management features like a trader can take profit limits or stop losses automatically. The software helps with immediate execution as well as instant confirmation too. Trading can be done anonymously and so nothing is recorded on the platform of a broker.

Disadvantages of trading apis

Everyone may not find trading with an API suitable. The development time when utilizing an trading API is longer and the software application requires maintenance frequently. Maintenance of an API can be costly. Their is a chance that an API application can be hacked.

Trading API brokers verdict

API trading brokers have more pros than cons and this is the reason most of the forex traders are relying on them for their trades. The API used by them provides several tools for easy and smooth trading. Additionally, many brokers provide supports to help clients better when required.

However, do take note that data, functionality and support provided by them differ from one broker to another.

Do take note that API trading brokers are becoming integral for the application of automated trading strategies. Gradually more and more brokers are becoming API trading brokers by making use of these platforms.

We've collected thousands of datapoints and written a guide to help you find the best api trading brokers API trading brokers 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 api trading brokers below. You can go straight to the broker list here.

Reputable api trading brokers checklist

There are a number of important factors to consider when picking an online api trading trading brokerage.

Check your api trading broker has a history of at least 2 years.

Check your api trading broker has a reasonable sized customer support of at least 15.

Does the api trading broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

Check your api trading broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

Does your api trading broker have an international presence in multiple countries. This includes local seminar presentations and training.

Make sure your api trading can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering api trading brokers.

We compare these features to make it easier for you to make a more informed choice.

Minimum deposit to open an account.

Available funding methods for the below api trading brokers.

What you are able to trade with each brokerage.

Trading platforms offered by these brokers.

Spread type (if applicable) for each brokerage.

Customer support levels offered.

We show if each brokerage offers micro, standard, VIP and islamic accounts.

Top 15 api trading brokers of 2021 compared

Here are the top api trading brokers.

Compare api trading brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are api trading brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more api trading brokers that accept api trading clients

Top 10 forex brokers and trading platforms to trade online

Forex is a portmanteau word consisted of the words foreign exchange and forex trading signifies the trading of currencies. Currency trade has existed for many centuries, even millennia, in fact it can be said that it is as old as money and trading in general. The international forex market is massive, in fact, it is the largest market in the world in terms of volume of trading. Currency trading is essential for international businesses and forex trading is very useful for companies that import or export products and/services.

Below is information that you will require to know while deciding to go with forex trades at any of the top forex brokers site we have listed out below.

Here you will check out each of the sites that are more popular in currency trades. They have been provided here in addition to the other valuable information which will permit you in making your own decision on the forex broker that you will be making use of the services.

Deposit: $10 leverage: 1000:1

Deposit: $100 leverage: 1:30

Deposit: $50 leverage: 1:1000

What are forex brokers

In the past, only large international financial institutions were allowed to trade currencies, but with the introduction of online forex brokers, i.E. Forex trading platforms, individuals are also given an opportunity to invest and increase their capital by trading currencies. Basically, a forex broker is a company which provides a platform for individuals who like to engage in speculative trading of currencies. This type of forex trading, where individuals get to trade via a platform is also known as ‘retail forex trading’, a term used to distinguish it from the more traditional type of forex trading. Even though it appeared only about 20 years ago, online forex trading is now a huge market and recent reports show that the daily trading turnover in 2016 was over $280 billion. There are numerous forex brokers that offer forex trading services to individuals all over the world.

The basic definition of the word broker is ‘someone who sells products or services on behalf of other people’. And that is pretty much true for forex brokers. They buy and sell currencies on your behalf. Unlike conventional brokers that you’ve surely seen in wall street themed movies, you don’t have to call this brokers and they don’t have to be at a particular place in order to trade.

How to choose a forex broker

There are more than few forex brokers that operate online, in fact there are dozens of them.

Choosing the best online forex broker, isn’t always easy, especially since almost every forex trader seems to be the bets. But, you shouldn’t worry, as there are ways to determine which forex broker is trustworthy and reliable.

Licencing

The legal aspect is primary here. You definitely can’t trust a forex broker which isn’t licensed and regulated. Even if their offer looks good and everything seems appealing, you shouldn’t trust a company that lacks appropriate certification. Different countries have different legislation and standards which are applied to forex brokers and their operations. The first step for every trader is to make sure that the forex broker has the appropriate licence and is completely legal.

Currency pairs

There are multiple currencies in the world, but not all of them have the same reputation and not all of them are equally traded. Typically, the american dollar is one of the most interesting currencies.

In addition to the american dollar, there are 7 other currencies which are rated highly:

Euro (€) – EUR

Pound sterling (£) – GBP

Australian dollar ($) – AUD

New zealand dollar ($) – NZD

Canadian dollar ($) – CAD

Swiss franc (fr) – CHF

Japanese yen (¥) – JPY

A pair consisted of one of the currencies listed above and the USD is called a major. The majors are the most frequently traded pairs and these pairs constitute 85% of the total forex trading on the market. Other, lower-rated currencies are usually paired with the USD and such a pair is called a minor. When a lower-rated currency is paired with the currency other than the US dollar, that pair is called a currency cross, or just a cross.

The number of currency pairs which are offered by a forex brokers is one of the key criteria for establishing the reputation of the brokers. Brokers that offer a larger number of currency pairs should be preferred over ones that offer fewer pairs. Most brokers offer all majors, as well as a number of minors and crosses. If you’re looking to trade a particular pair, then you should definitely check whether the broker in question offers that pair. On the other hand, if you’re looking to trade only the majors, there are other things which you should take into consideration.

Leverage and lot size

Leverage in forex trading is used as a means to provide higher profits which are derived from the changes in the exchange rates of the two respectively paired currencies. In fact, it might be simplest to describe it as a loan provided by the broker to the investor. The leverage may vary, it can be 50:1, 100:1 or even 200:1. Higher leverage provides you with a chance of earning more money through trading, but it also means taking larger risks. Traders that have a higher understanding on the market will be looking for higher leverage.

As you don’t buy the actual currency units, but you actually invest in the expected fluctuation of how two currencies are paired against each other, the traders actually trade larger unit blocks, called lot sizes. A lot size is the number of currency units which are traded. The lot size may be 100, 1,000 or even 10,000 units of the second currency in the pair. It would be wiser to look for a forex broker that offers a variety of lot sizes, including smaller ones which are perfect for traders who are new to forex trading and don’t want to risk large amounts of money.

Market spread

Forex brokers allow you to trade the currency pairs you want and make a profit. The have to make a profit as well, though. Most forex brokers don’t charge any fees, so that you won’t have any initial expenses, but they make their profit through the market spread.

The spread is the difference between the two positions, which are the buy (bid) and the sell (ask) position. Higher spreads allow brokers to make bigger profits, but they are less favourable for the traders.

The spread percentage is very important, and if you’re looking for a forex trader, it would be wise to choose one that offers lower spreads.

Sometimes, forex traders don’t offer the same spread on different currencies. Usually for large currencies, that take are traded more frequently, the spread will be lower, whereas for smaller currencies, and currencies with a larger volatility the spread will be higher.

Trading platforms

We have already mentioned that the emergence of forex trading was enabled by the internet. Forex brokers may offer different sorts of trading platforms, downloadable, web-based and from few years ago mobile trading platforms. It all boils down what is more convenient for you as a trader.

Some mobile apps for example, include only some of the features that are offered in the desktop version, whereas other include more options. Moreover, some forex traders offer more than one platform, and each of them may include different elements. It is best to look for a forex broker that offers both a platform for traders who aren’t very experienced. Those platforms are usually easier to use and a lot more user-friendly.

Payment methods

Forex brokers usually offer their customers more than one payment method that will enable them to fund their trading accounts. Some brokers charge fees on deposits and/or withdrawals, whereas with others no extra fees will be charge, other than the ones applied by the provider of the financial service. The deposit and withdrawal limits may differ. The principle here is simple, the brokers that provide more methods and don’t charge any fees have a definite advantage over those that offer a limited amount of payment methods and charge fees on deposits and withdrawals.

Bonuses, training materials and support

As there is a pretty large competition on the forex broker market and multiple companies provide forex trading to customers all over the world, brokers are looking for ways to attract new customers, while also trying to keep their existing ones.

Bonuses

Training materials

Customer support

These three are also very important parts of the overall offer of every forex broker, in conjunction, of course, with the pairs, leverage and market spread.

The types of bonuses that are offered may vary. Many brokers offer a welcome bonus, where traders get additional funds, on top of the ones that they deposited. Some brokers offer bonus funds even before the traders make their first deposit.

Some traders are new to forex trading and that is why it is only fair for brokers to provide them with the necessary learning materials that will help them improve their understanding of the market fluctuations and forex trading as a whole. Many brokers allow traders to open a demo account, which will allow them to simulate forex trading without any risk of losing real money. In addition, e-books, videos and even webinars on forex trading are also provided.

Customer support is an important aspect for every service industry and forex brokers aren’t excluded. Help is provided via phone, email and live chat and most brokers’ websites have an FAQ section which provides answers to specific questions.

Why trade forex online?

There are many reasons why you should seriously consider placing forex trades online, and if you are new to this environment it can often be something of a confusing forex trading environment at first, as there are many different currencies that can be paired together and lots of different trading platforms to choose from.

However, do remember that if you do decide to trade forex online then at no point in time are you having to actually buy the two currencies you are trading against each other and therefore your costs of becoming a forex trader are massively reduced.

When you chose to trade at any of our top 10 forex brokers you are only going to be placing a trade on which way you think one currency is going to move against another, and as such your leverage is far greater online.

Imagine the fuss and hassle involved with having to first buy one currency, and then if it moves in the direction you want it to then finding somewhere to sell that currency to and then buy the other one! Those days are long gone now and you really are going to be amazed at all of the next generation of forex brokers listed and fully reviewed throughout this website!

The respective financial authorities of every countries provide licences under which forex brokers are allowed to operate and offer their services to citizens of that particular country.

Forex trading is legal in most countries of the world, even if the country doesn’t have a financial authority who issues licences.

Yes, forex brokers are able to offer services outside the country they’re based in. Some countries would require a broker to obtain a licence, others will allow them to operate under a licence issued elsewhere. It really depends on the local laws.

Many forex brokers also offer contract-for- difference (CFD), commodities, as well as stocks and indices and it is possible for traders to use one account for all of them.

They are usually open the whole time, but when it comes to trading, it is offered monday through friday. The starting hour on monday and the closing hour on friday depends on the pair in question.

Most forex brokers have a deposit limit. The specific limit depends on your choice of currency, but usually it isn’t very high.

Licenced forex brokers comply with all financial standards and security measures that are employed by the world’s leading financial institutions. Encryption technology is used to ensure that no third parties will be allowed to access customers’ financial information and the customers’ details are not handed to third parties. Most reliable companies, keep their customers’ trading funds in a separate account, to ensure that they won’t be lost no matter what.

Some forex brokers allow their customers to open multiple trading accounts, but they are advised to use the same personal details for each of them.

Yes, all forex traders require customers to provide identity verification documents, either when they register or when they’re about to make their first withdrawal. Most forex brokers would require you to present a proof of identity and a proof residency, so they can confirm that you are who you claim to be and that you are legally allowed to trade forex.

Yes, there are no legal limits on the number of forex trading accounts that may be opened in your name. As long as you are legally allowed to have one account, you are also able to have as many as you want.

Yes, you can trade any of the forex pairs that are offered by the broker, not just pairs that include your preferred currency/ the currency of your country.

Best trading brokers

Choosing from the many online trading brokers is one of the most important decisions for all investors who wish to be successful trading online. It is of paramount importance to use only the best trading brokers that are trusted, established and provide top trading brokerage services with suitable trading platforms, strict regulations, a wide range of assets for trading, flexible leverage, multiple funding options, first class customer support and more.

With so many online trading brokers providing a range of investment products to clients across the globe, day traders can be selective on which brokerage they opt to use depending on their own individual online trading requirements. To help both retail and institutional traders of all expertise levels find the best trading brokers according to their own needs, we have compiled detailed online broker reviews, ratings and broker comparison, based on our extensive analysis over thousands of hours across hundreds of trading brokers.

#1 best trading broker award 2021

Top 5 trading brokers

ASIC, BVI, CBI, FFAJ, FSA, FSCA

Min $100 deposit

FCA, CFTC, NFA, bafin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF

Min $250 deposit

ASIC, FCA, DFSA, SCB, cysec, bafin

Min $200 deposit

Min $5 deposit

Min $200 deposit

Avatrade

#1 best trading broker award 2021

IG offer traders around the globe over 16,000+ markets including forex & cfds. They have a good selection of trading platforms, tools & educational resources. Spreads are tight, commission is low & execution speeds are fast. IG are also regulated in many countries including FCA, ASIC & NFA regulation.

Pepperstone

Pepperstone is one of the largest trading brokers providing traders worldwide access to trade across all markets with cutting edge technology, low cost spreads, low-latency high speed execution and award-winning customer service.

XM group

XM group is a multi-award winning globally established and regulated trading broker with over 2.5m clients from 196 countries offering no-requotes, low spreads, fast execution and negative balance protection.

IC markets

IC markets is the world’s largest true ECN trading broker offering over 230 trading instruments across multiple markets on the most popular trading platforms, delivering low spreads and high liquidity for fast trade execution.

How did we choose our best trading brokers?

The trading brokers research team have many years of experience testing, studying and analysing hundreds of online trading brokers. We have reviewed each broker and assigned them a rating according to our findings of what we consider to be amongst the most important factors when choosing the best brokers for trading online.

How to choose the best broker for trading online?

When choosing the best trading broker for your online trading needs, there are a number of things to consider. This ranges from the online trading services provided by the brokerage along with the regulations that they have in place which can help to offer investors protection and give them peace of mind. Here we will look at some of the key points to consider when looking for the best trading brokers.

Trading broker regulation

A reputable trading broker is likely to be regulated by an established and well-respected regulatory authority such as the FCA, ASIC or cysec. Regulation can provide traders with additional protection they would not get from an unregulated broker. You can check if a trading broker’s regulation is valid and up to date by locating their license number on the brokerage website and looking the number up with the relevant regulatory authorities.

Trading broker platforms

Each trading broker will offer a choice of trading platforms for you to use to trade online with. Most brokers will offer the metatrader platform which is one of the most popular platforms for traders of all experience levels. It is considered amongst the best trading platforms due to its user-friendly interface and vast amount of built in trading tools. Trading platforms are available for desktop, web and mobile devices. Make sure that the trading broker you choose offers a platform that you are either familiar with or one that is user friendly. You should also ensure that the platform is compatible with the devices you plan to trade on. It would be a bonus if the broker offers trading platform tutorials to help you learn how to use the platforms.

Trading broker markets & instruments

Different trading brokers will offer a range of different markets and trading instruments. Many markets can be traded online including forex, stocks, indices, commodities, energies, precious metals, bonds, etfs, cryptocurrencies and more. You should make sure that the trading broker you are considering offers the assets that you are interested in trading online and if you plan to expand your portfolio into other markets in the future, the more they have available, the more choice you will have.

Trading broker costs

When you trade online with a trading broker, you will need to consider the costs involved. The primary costs that most brokerages will charge are a trade commission, the bid/ask spread, overnight swap fee (rollover) and account funding fees. Make sure that you are fully aware of all of the costs that the broker charges and implement them within your money management and trading strategy. The best trading brokers in terms of cost will usually charge the lowest commission and have the tightest spreads.

Trading broker liquidity

Most trading brokers will utilise a combination of liquidity providers within their liquidity pool. These can range from global banks, financial institutions and other market makers. A liquidity provider by definition is a market broker or institution which behaves as a market maker in a chosen asset class. They quote both a buy and a sell price in a financial instrument or commodity held in inventory, hoping to make a profit on the bid-offer spread, or turn. Usually the larger the brokers liquidity pool, the better the trade execution speeds and tighter the spreads. Some of the best trading brokers will have a vast array of liquidity providers thus supplying online traders with tight spreads and fast execution speeds.

Trading broker leverage

Online trading brokers will usually provide traders with the option to trade a leveraged position. This allows traders to enter a position size greater than they would without it but also greatly increases the risk. If for example you had an account balance of $10,000 and leverage of 1:30, you would be able to trade a position size of $300,000 ($10,000 x 30 = $300,000). It is imperative that traders understand leverage and the risks involved before trading with it.

Trading broker order types

When you trade online you can enter the markets with a variety of order types including instant execution, pending orders, stop orders, limit orders, etc. If your trading style involves a specific order type then you should ensure that the trading brokerage supports that order type.

Trading broker tools

Most traders will require a range of useful trading tools to help them analyse the charts and manage orders. This can range from technical indicators for identifying trends and ranges to fundamental indicators such as an economic calendar to see what financial releases are moving the markets. The more tools offered by a trading broker, the more options the trader will have to support them with their online trading. Whilst trading platforms provided will have a selection of trading tools built in, the best trading brokers tend to offer a range of standalone trading tools to supplement these.

Trading broker educational materials

You will usually find that most good trading brokers offer a range of educational materials to help support traders with their online trading skills and knowledge. These educational materials can range from video tutorials, trading guides, glossary of terms, webinars, seminars, quizzes and more. If you are new to trading online or wish to learn more, then you may want to consider a trading broker that provides suitable educational resources.

Trading broker deposit/withdrawal methods

You will need to make deposits and withdrawals to and from your online trading broker account. Most brokerages will offer bank wire transfer and debit/credit card payment options. If you would prefer to use another form of payment then you should check that this is offered by the brokerage. Alternative popular forms of funding trading accounts include online payment processors such as paypal, skrill, neteller, etc.

Trading broker customer support

A trading broker should offer top quality support that is on hand as often as possible to answer all technical and general questions that traders may have. As brokers are located throughout the globe, you may wish to consider the time zone that their support team is available during and if that is convenient for you. You should also check if they offer a method of contacting them that you prefer. Most brokers will offer telephone, email and online chat support. It can be a good idea to test the support team before opening an online trading brokerage account.

Best trading brokers: online trading

What is online trading?

In a nutshell, online trading is when you buy and sell various assets through an online trading broker using a trading platform. Many markets and instruments can be traded online including forex, stocks, indices, commodities, energies, precious metals, bonds, etfs, cryptocurrencies and more.

What is an online trading broker?

An online trading broker is an intermediary who buys and sells trading instruments on behalf of its clients for a commission fee and/or spread mark up. They allow individual online traders access to trade the previously inaccessible markets through online trading platforms that they provide. In addition to providing an online brokerage account and trading platform, trading brokers can also offer other trading services such as educational resources, trading tools, market analysis, trading apps, social trading platforms and more.

There are hundreds of trading brokers located throughout the world with differing trading products and services. With so many trading brokers to choose from, it is very important to check if the brokerage is regulated and offers the online trading services that you require. We have a comprehensive database of trading broker reviews to help you identify some of the best trading brokers according to our detailed research.

What types of online trading brokers are there?

It is useful to know the difference between the types of online trading brokers. There are trading brokers who are market makers and others who are ECN/STP brokers. Market makers will usually not charge a trade commission but will take the opposite side of client trades and add a mark-up to the spread to cover brokerage costs. On the other hand, an ECN/STP trading broker will usually provide raw spreads that come directly from liquidity providers (LP’s) and charge a commission for trading online to cover their costs. To summarise, a non-market maker broker is usually preferable to most online traders as the costs can work out cheaper in the long run without the potential conflict of interest.

What markets can I trade online with a trading broker?

You will find that the best trading brokers usually offer a variety of different markets for trading online including forex, stocks, indices, commodities, energies, precious metals, bonds, etfs, cryptocurrencies and more. Online forex trading and stock trading is very popular amongst traders. Forex and stocks can be traded as contract for differences (cfds) which enables traders to speculate on the rising or falling prices of fast-moving global financial markets without actually owning the underlying asset.

How much do I need to open a trading broker account?

The minimum deposit required to trade online varies depending on the trading broker. Some brokerages require a minimum deposit of just $1 for online trading whilst other require larger deposits of $200 or more to start using their trading services. Most trading brokers will also offer a free demo trading account if you wish to try out the different platforms available and practice your trading strategies before opening a real trading account.

Can you make money trading online?

Trading online successfully can take years of study and practising. It requires immense patience, discipline and planning. There are no guarantees that you will be profitable by trading online so you should never trade with more than you can afford to lose and you must be prepared to accept the risks involved before you start to trade online. Most trading brokers will offer a disclaimer stating the percentage of their clients that lose money.

How to open an online trading broker account?

If you have made it this far then hopefully you have a better understanding of online trading and what do look for when considering the best brokers for trading online. Once you feel ready to open a trading broker account to trade online with, you simply need to choose a trading brokerage, complete the sign-up process and fund your trading account.

Need help choosing from the best trading brokers?

If you need help choosing from the best brokers for trading online, you can use our free online broker comparison tool to quickly compare online brokers based on regulations, minimum deposit, leverage, spreads, commissions, funding options and more. You can also read our broker reviews and choose from our best brokers, best trading platforms, best copy trading platforms, best social trading platforms and best trading apps. If you would like to look for the best trading brokers in a particular country, we have pages dedicated to our best brokers USA, best brokers UK, best brokers australia, best brokers south africa and best brokers canada.

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Brokers

Regulated forex brokers

When viewing the forex broker or a trading platform, it is the paramount priority to choose from the hundreds the most reliable one and the best forex provider, as it will determine the whole trading experience. Indeed, doing research and compare the vast number of forex brokers with many aspects to consider, maybe not an easy choice, as well time-consuming. So here we are ready to assist your selection and answer the most common questions.

Can I trade forex without a broker?

This may be the first question you would ask, as indeed forex market, FX or currency market is the largest global non-centralized exchange where trading process performed electronically via networks. While main forex participants are international banks and financial institutions operating huge volumes through a need to exchange currencies, presented as currency pairs, and assist international business with the conversion which is known as the interbank market.

Therefore, in order to trade fx you should be authorized dealer to do so, as well as operate a quite sufficient amount so before forex brokers were introduced to retail traders and global community it was not possible for trade markets. For this reason, forex trading brokers are the companies or agent if you like that gives retail forex traders access through its platform to operate forex market and trade various markets including commodity futures, indices, bonds, etc.

Do I need license to trade forex?

So this is another pleasant and great opportunity which is given by forex brokers, as you may access trading without financial or dealer license. Moreover, there are hundreds of opportunities with a relatively small investment which allows you to trade forex, do technical analysis and analyze markets almost instantly.

Are forex brokers regulated?

And now we will check the most crucial question if forex broker can be regulated, since the market is decentralized, and is it safe to trade forex? Obviously, this is the biggest trump you may fall as a retail trader if you choose a non-reliable, mainly non-regulated or offshore firm without a proper license you may easily fall into a scam and lose money.

So due to increasing demand and mainly that traders got no easy access to trading or financial education, the world countries established particular organizations or authorities in order to oversee the market proposals and regulate forex broker firms. So yes, forex brokers are regulated while holding a license from a local authority alike world known FCA in the UK, ASIC in australia, commodity futures trading commission CFTC in the USA, MAS in singapore and more.

What does a regulated broker mean?

The whole concept of regulation is to oversee forex business in a particular country or region, protect clients and ensure safe conditions while trading forex. So in simple words, regulated broker means a safe and legit broker that is compliant to various rules and criteria set by the international authority with the purpose to provide secure trading and good customer service. So its trading environment and provided services like technical analysis, education and tools are also aligned to the best practices.

In addition to its constant check on the service providing, authorities protecting clients throughout compensation schemes and other security checks, however, these conditions may vary from the regulator to another.

How do I know if my forex broker is regulated?

In order to check if broker is regulated or not, you should verify this information through the official brokers’ website first, as regulated companies always provide its licenses. And the next step is to verify a license through the official regulatory website. However, in our forex broker review you will find all the necessary information and license check as well.

It is a fact, unscrupulous brokers may easily fake information and assure you of its license while its not true, so always verify information through the official source. As well, adhere to trade with brokers regulated in serious jurisdictions, not the offshore once, as they luck of strong regulation, requirements and necessary safety measures. Read more by the link why avoid brokers from st vincent & the grenadines.

How to choose best forex broker?

Security of funds is always first in forex trading, for that reason, we recall your attention to open an account with regulated brokers only. Making it simple, regulated broker means that you will trade forex with proper security of funds and investment itself, so first of all good broker is a sharply regulated broker.

Further on, you should also check the necessary conditions and select offer suitable for you and trading strategy you deploy.

For this reason, we assist your selection and provide an assortment of efficient regulated brokers with updated on a weekly basis in-depth forex broker list. A professional detailed analysis with trading fees account overview, platform breakdowns while sorted by regulation, country or trading conditions, along with traders comments so smarter decision is easier now.

So, let's see, what we have: quickly & easily find the best trading brokers in 2021 from the #1 online trading brokers reviews & ratings website. At trading brokers