Forex trading has become a huge industry with countless brokers working under it. As more and more people join, it can be difficult for them to go through the long lists and choosing one broker for yourself can be a daunting task. This article will not only help you in listing down some of the best brokers for forex but will also share some tips that will help you in making the best decision!
Tickmill
Tickmill was founded in 2014 and is regulated by the UK Financial Conduct Authority (FCA), the Cyprus Securities Commission (CySEC) and the Seychelles Financial Services Authority (FSA). The broker provides over 80 CFD instruments to trade Forex, Indices, Commodities and Bonds through three main trading accounts (Professional accounts, Classic accounts and VIP accounts). They also provide free simulated trading accounts and Islamic trading accounts. They provide an MT4 trading platform and overnight swap charges. They also have an extensive range of educational tools and analysis.
FXCC
FXCC was established in 2010 as a joint venture between FX Central Clearing Ltd, which is approved and managed by the Cyprus Securities and Exchange Commission (CySEC).
FXCC allows you to trade over 100 financial instruments including currencies, CFD indices, metals, energy and cryptocurrencies through the world renowned MetaTrader 4 platform.
The client is provided with an account type called ECN XL. This includes free trade, a minimum deposit of $50, leverage ratio of up to 1: 500, a variable spread of 0.0, and free funding. Islamic and demo accounts are also offered by FXCC.
HotForex
Hotforex was founded in 2010 and has been regulated by the FCA since 2016 to ensure financial security. As it is regulated by multiple reputed regulatory bodies, HotForex is committed to secure trading and offers a wide range of solutions, including insecure trading and Islamic accounts. It is a 100% South African STP broker offering various trading instruments and provides a total of 54 currency pairs for trading. HotForex also offers powerful CFD and FX solutions. South Africa can benefit from price changes for various instruments, including cryptocurrencies.
eToro
EToro, founded in 2007, is globally licensed and regulated by several authentic and reliable regulators. These include the rules of the Cyprus Securities and Exchange Commission (CySEC), the UK Financial Services Authority (FCA) and the Australian Securities and Investments Commission (ASIC). eToro offers a wide range of products through the eToro trading platform and mobile apps with over 2,000 CFD trading features on stocks, indices,
commodities, currencies and cryptocurrencies.
How to choose a Forex broker?
Some of the common features that everyone looks for in a broker are:
- Make sure it is a regulated broker and it is the only way to ensure the safety of your funds and investments. The regulation of a broker also directly relates to its reliability.
- Low fees brokers are preferable because they help you generate more profits for yourself.
- Make sure the broker has fast execution rates as delays of seconds can greatly affect your results.
