Real forex broker

1. Credibility #9: other parameters for identifying the best forex brokers

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Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets.

Free forex bonuses

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.

List of the best 23 forex brokers | trusted reviews

Are you looking for a good and serious forex broker? – then this page is the right place for you. Thanks to the large selection on the internet it is often difficult to make the right decision. With more than 7 years of experience in the financial markets, we present you with the best providers with top service and without hidden costs. Find out in the following texts how to select a secure forex provider and which online broker offers the best conditions.

Broker:	review:	regulation:	spreads:	assets:	advantages:	open account:
1. Bdswiss	(5 / 5) ➜ read the review	cysec, FSC	starting 0.0 pips + $ 2.0 commission per 1 lot	250+ (50+ currency pairs)	+ individual offers + trading signals + raw spreads + leverage up to 1:500 + best education + personal support

Watch our full video review about the best forex brokers (risk warning: your capital is at risk):

Strict criteria for the forex broker review

In contrast to many other comparison sites, we present you on this website only the safest providers with the best conditions for traders. As experts with many years of experience, we have tested many forex brokers and still use some of them. A good provider should have certain characteristics that guarantee good and safe investing.

It is not uncommon to hear of fraud on the internet. This is to be avoided by this comparison. In addition, one would like to save on charges as a trader because the costs for the trade reduce of course the actual profits. Also, the security of customer’s money is of high priority. A regulation or license, for example, is urgently needed for secure trading with international brokers. All these criteria and many more are included in the test. Therefore we can present you on this page the best forex brokers in a list.

Proven facts for a good forex broker:

Regulation and license of an official finance authority

High safety of customer funds

Fast and reliable market execution

Small forex trading fees and no hidden fees

No requotes (high liquidity)

User-friendly trading platform

Free and unlimited demo account

Professional support

Fast deposit and withdraw methods

How does a forex broker work?

A forex broker is an intermediary between a client (trader) and the interbank market for currencies (wikipedia). In addition, the broker can lend capital to the trader so that he can trade with leverage. The broker’s income is generated by the spread and the cost of financing the leveraged positions.

There are 2 different models of brokers: market maker and ECN/NDD broker

Example of live spreads for forex brokers

Market maker:

This broker does not place the trader’s orders directly into the real interbank or spot market. There is an internal matching system between the positions of the traders. Of course, the broker can hedge himself on the real markets so that there are no distortions in supply and demand. In most cases, this system can be opaque, and only as a broker employee, you know the exact functions. A market maker forex broker is not bad or scam. Nowadays, most providers offer good and exact executions.

ECN/NDD (no dealing desk) broker:

ECN and NDD mean direct access to the interbank market through various liquidity providers. These are large banks or very large forex brokers. The provider places the trader’s orders directly into the real market. So the customers get direct and real market prices for trading. With this model, there is no conflict of interest between trader and broker. Zero (no) spread accounts are offered.

Warning: only trade with regulated and licensed forex brokers

Security has the highest priority in online trading. When it comes to trading leveraged financial products, you have to be able to trust the forex broker. It is not uncommon for large sums of money to be used to generate a large profit. For example, brokers in europe must have regulations or licenses if they want to offer their services. The regulation can be in any european country. The same or almost the same requirements apply to brokers everywhere. In order to avoid fraud, it is important to look for such a license.

Licenses are only issued under certain conditions and criteria. If a broker violates these conditions, the license may be withdrawn immediately. All tested companies of mine are always concerned to keep the highest criteria and to guarantee a safe trade. Many brokers, for example, are regulated in cyprus. This has tax advantages. Nevertheless, there are also forex brokers with more than one regulation. The various regulatory authorities can be seen in the table above.

Facts of reliable and secure companies:

Regulation and license

Separated customer funds

Regulated deposit and withdrawal methods

Using well-known banks

Large liquidity providers

Another important point for serious trading is the security of customer funds. Payouts of winnings or the deposited amount should work smoothly. It was not uncommon for some brokers to speculate on customer funds themselves. In the end, withdrawals were refused or delays occurred.

How risky is forex trading?

Forex trading is managed by leveraged financial products. That means you are able to trade a bigger contract size than the amount of money in your account. Some brokers offer the leverage up to 1:3000. Many traders are afraid of the obligation to make margin calls and this is not without reason as the past has shown. Account balances could slip into the negative balance. This is possible due to extreme market situations and too large a position size in relation to the account balance.

The providers shown above all have no obligation to make additional contributions (except IC markets and vantage FX). With the providers in the upper table, you are therefore protected against such a scenario. In our experience, this can only happen if the account is too heavily leveraged. You should always beware of sensible risk management.

Beginners should always start with the free demo account to practice forex trading.

A demo account is essential for successful trading. The trading column form and conditions can be tested extensively with this account. It is a virtual credit account that simulates real money trading. It can be traded without risk. This means that new strategies can be developed or new markets tested. The demo accounts of the compared providers are completely free and unlimited. This account is best suited for entry into forex trading.

How to deposit and withdrawal money:

For most traders, the first deposit into their account is very exciting. It should work smoothly and be highly secure. Forex brokers offer well-known and proven payment methods. Capitalize the trading account with electronic methods (credit card, e-wallet, paypal, crypto) or with the classic way of bank transfer. Electronic methods work in real-time and the money is credited directly to the trading account. Trading can be started immediately. The minimum deposit at the compared brokers is very low. For example, you can open an account from as little as 1$. If this is worth it, you have to decide for yourself. There are no fees for deposits.

Example of payment methods of a forex broker

The payout is also very uncomplicated. With a few clicks, you can request a withdrawal on the menu. This is then released in 1-3 working days. However, most brokers payout customer money in less than 24 hours. All presented brokers passed this test. The fees can be high for small payouts. With payments over 200$, the most forex brokers take over the fees but some brokers do not charge any commissions.

Facts about the payments:

Instant deposit of money

Fast withdrawal within 1 – 3 working days

Electronic methods (skrill, neteller, paypal, and more)

Cryptocurrencies

Bank wire

Not every country is available for forex trading

Not every country is available for forex brokers and trading. This is because there are some restrictions and special regulations. For example, in some countries, an international broker needs a special license for that specific country. So it is too much afford for some companies to get the license and they stop taking clients from these countries. You can clearly see on the homepage which clients they accept. Not many brokers accept clients of the united states of amerika.

From my experience, the fastest-growing countries are in africa and asia. Because of the development of mobile internet, more people get connected to the forex market. India, nigeria, philippines, malaysia, and china are at the moment the fastest-growing countries.

Is forex trading legal?

Forex trading is fully legal if there is not any ban from the government. Forex trading is just changing money into another currency. This is not an illegal practice. The brokers on my review got official regulations so they act fully legal.

Review conclusion: start trading with a reliable forex broker

On this page, we have presented you with our current list of the top 23 forex brokers in comparison. Now you have a selection of good and reputable companies in front of you. It was particularly important to us that we only present providers here, which we have tested by ourselves with real money. This is not the case with most comparisons.

Profit now from the most favorable fees and the best conditions by my experience of many years. With these providers, you are 100% safe and can take your forex trading to the next level.

We hope you could learn something in this comparison and act now with better providers through my recommendations. If you can’t make up your mind, please also read the reviews.

Successful forex trading requires a good and reliable broker. In this review, we showed you the top 23 secure forex brokers. Now you can choose your professional trading partner.

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Trade etfs on grown commodities such as coffee, cocoa, sugar, corn, wheat, soybean, fruit

Soft commodities trading benefits

Minimum deposit: 100 USD

R trader platform

Over 100 instruments

Leverage: up to 1:20

Energies

Trade cfds and commodity etfs on energy market including oil, natural gas, heating oil, ethanol and purified terephthalic acid

Energies trading benefits

Tight spreads

Metatrader4, R trader platforms

Ideal instrument for day traders

Minimum deposit: 10 USD

Leverage: up to 1:100

Metals

Trade cfds and commodity etfs on precious metals including gold, platinum, palladium, silver as well as gold/dollar and silver/dollar pairs.

Metals trading benefits

Hedge against political instability and dollar weakness

Minimum deposit: 10 USD

Metatrader4, metatrader5, ctrader, R trader platforms

Leverage: up to 1:1000

Cryptocurrencies

Bitcoin, litecoin and ethereum proved to have great potential for investment and speculation

Cryptocurrencies trading benefits

Metatrader4, metatrader5, R trader platforms

Over 20 cryptoinstruments

Leverage: up to 1:50

Trading 24/7

0% commissions

When our clients deposit their trading accounts, the commission is always 0%. Roboforex covers all expenses. Choose the payment system according to your convenience, not cost effectiveness.

Roboforex also compensates its clients' commission for funds withdrawal twice a month.

Instant withdrawals

Automatic withdrawal system: withdrawals within a minute for certain payment methods

System works 24/7

Simple, reliable, and fast

More than 20 ways to deposit funds

Become an investor on forex

For easy short-term investments

Choose among over 1,000 traders.

Get detailed statistics on trader's performance.

Unsubscribe at any time.

Copyfx platform will be perfect for those, who search for a simple but reliable way to invest on forex.

Roboforex market analytics

Forex analytics

Fibonacci retracements analysis 29.01.2021 (BITCOIN, ETHEREUM)

EURUSD is under pressure again. Overview for 29.01.2021

Ichimoku cloud analysis 29.01.2021 (NZDUSD, USDJPY, USDCAD)

Economic calendar

Exclusive market analytics

Claws & horns is an independent analytical company providing brokers with a set of necessary analytical tools.

Fxwirepro™ is a leading analytical company, which provides the participants of financial markets with research reports in the real-time mode.

Company news

Roboforex: changes in trading schedule (martin luther king jr. Day)

Roboforex: changes in trading schedule (christmas and new year holidays)

Roboforex received prestigious awards of the financial sector

Winner of more than 10 prestigious awards

Roboforex was recognized by the most respected experts of the financial industry.

More than 800,000 clients from 169 countries.

Best investment products (global)

Best partnership program (LATAM)

Most trusted
broker

Most transparent
asian forex broker

Best global mobile
trading app

Best broker
of the CIS

Experienced racers with more than 60,000 off road kilometers in europe, africa, and australia under their belt.

A many-time thai boxing world champion, an experienced trainer, and an honored master of sports.

Roboforex ltd is an international broker regulated by the IFSC, license no. 000138/107, reg. Number 128.572.

Risk warning: there is a high level of risk involved when trading leveraged products such as forex/cfds. 58.42% of retail investor accounts lose money when trading cfds with this provider. You should not risk more than you can afford to lose, it is possible that you may lose the entire amount of your account balance. You should not trade or invest unless you fully understand the true extent of your exposure to the risk of loss. When trading or investing, you must always take into consideration the level of your experience. Copy-trading services imply additional risks to your investment due to nature of such products. If the risks involved seem unclear to you, please apply to an outside specialist for an independent advice. Roboforex ltd and it affiliates do not target EU/EEA clients. Roboforex ltd and it affiliates don't work on the territory of the USA, canada, japan, australia, bonaire, curaçao, east timor, liberia, saipan, russia, sint eustatius, tahiti, turkey, guinea-bissau, micronesia, northern mariana islands, svalbard and jan mayen, south sudan, and other restricted countries.

At roboforex, we understand that traders should focus all their efforts on trading and not worry about the appropriate level of safety of their capital. Therefore, the company took additional measures to ensure compliance with its obligations to the clients. We have implemented a civil liability insurance program for a limit of 5,000,000 EUR, which includes market-leading coverage against omissions, fraud, errors, negligence, and other risks that may lead to financial losses of clients.

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

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

#1: regulations and licenses

#2: forex trading platform

#3: customer support services

#6: deposits and withdrawals

#9: other parameters for identifying the best forex brokers

Why expert traders trade with regulated forex brokers

Role of regulation

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

2. Compensation

3. Effective customer service

4. Quick deposits and withdrawals

5. Updated trading platform

6. Legality

Understanding true ECN vs STP broker

General overview of true ECN and STP brokers

Use of scalping techniques

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

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.

So, let's see, what we have: list of top 25 the best forex brokers in 2021 for buy sell major currency, lets compare our fully regulated online trading company and platforms. At real forex broker