For those new to forex trading, a forex broker is a company that provides you with a trading account and platform for trading online. Anyone can open an account and trade forex currencies, CFD’s on stocks, indices, commodities, cryptocurrencies, precious metals, energies and more. You can see a selection of my best forex brokers if you like.
The majority of forex brokers will provide clients with the popular and widely used MetaTrader 4 (MT4) platform free of charge for desktop, web and mobile devices. MetaTrader 4 is well known for its intuitive interface and abundance of trading tools. Its user friendliness makes it a popular choice for beginners whilst it has plenty of advanced functionality to satisfy the needs of most seasoned traders.
You can choose to open a demo account if you wish to practice your trading strategies with virtual funds until you feel confident enough to open a real account. This is common practice amongst new traders as it enables them to familiarise themselves with the trading platform and how trading online works.
Brokers charge a fee for using their services. This can include a spread and commission on each trade you place with them. It is generally considered that the lower the spread and commission, the cheaper your trading costs can be.
In addition to broker fees, there are other factors worth considering such as the regulation, account funding options, minimum deposit, leverage, educational resources, trading tools, market analysis and customer service.
Whilst there are many forex brokers to choose from, I would personally choose a regulated and established brokerage that has tight spreads, competitive commissions with plenty of liquidity providers (LP’s) for reliable execution speeds at the best possible prices. I would also opt for a regulated broker to help give me peace of mind that my funds should be safe in the case something should go wrong.
Founded in 2013 and based in Belize, SuperForex is an online forex broker that offers online trading services on over 300 trading instruments across multiple asset classes, such as forex, indices, stocks, cryptocurrency, commodities, energies, and metals. The broker provides clients with the MetaTrader 4 trading platform, offering competitive spreads, ..Read More
City Index was founded in 1983, headquartered in the UK, and regulated by the financial conducting authority (FCA). StoneX Group Inc. (NASDAQ: SNEX) is City Index’s parent business, and it is one of the world’s leading retail and institutional trading providers, having a good track record of delivering trading services ..Read More
FXTRADING.com is a regulated Australian forex and CFD brokerage firm that provides traders with faster and easier access to the global markets. The broker offers an excellent range of financial instruments including forex, stocks, indices, commodities, and cryptos. They have a choice of professional yet user-friendly trading platforms, including MetaTrader ..Read More
Founded in 2016, Evolve Markets is a crypto-based online brokerage that offers Forex and CFD trading via the popular MetaTrader 4 and MetaTrader 5 trading platforms. They offer their clients access to the global markets with institutional trading infrastructure, liquidity, and the freedom of cryptocurrencies. The broker makes use of ..Read More
FXOpen is a well-established forex broker that has been offering online trading to over 1 million clients across the globe all the way back to 2005. They are an ECN broker that has tight spreads, reliable execution speeds, and competitive commissions. FXOpen can cater to both retail and institutional traders ..Read More
CryptoRocket is an online broker that offers leveraged crypto and forex trading, providing retail traders around the globe with a chance to trade on institutional liquidity from major global investment banks. They have a safe, simple and fast trading environment, with very good trading conditions for clients including access to ..Read More
Trade Nation is an online financial services provider that operates in the United Kingdom. The broker was established in 2014, regulated top-tier by ASIC and FCA. They provide traders with the MT4 trading platform for trading different platforms for trading CFDs on forex, indices, commodities, stocks, bonds, and shares. They ..Read More
RoboForex is a Belize-based online forex and CFD broker that was founded in 2009. They provide online trading services in over 9400 tradable instruments across multiple asset classes, such as forex, cryptocurrency, stocks, indices, ETFs, metals, energies, and other commodities, offering tight spreads that start from 0 pips good execution ..Read More
Founded in 2010, FXPIG is a retail forex and CFD brokerage firm with a range of customized trading solutions for retail and institutional traders. They operate as a straight-through processing (STP) forex broker with a good selection of currency pairs for you to trade. The broker provides clients with the ..Read More
Bold Prime is an online trading broker that is built by traders globally so that you can experience the best of retail forex CFD trading. They provide clients with the popular MetaTrader platforms for trading forex, stocks, cryptocurrencies, CFDs, and other trading instruments. Traders are offered excellent trading conditions, such ..Read More