Forex trading seems to be an excellent option for investing your money without any major risks, apart from the losses that can be as significant as the gains. The FX market allows you to choose your preferred financial asset from a wide range of financial instruments, which may also include commodities, shares, indices, and other CFDS, along with the wide array of major and minor currency pairs. You can start trading with small trading capital, trade the markets according to your schedule, and most importantly, you can trade from the convenience of your home or office without setting up any additional trading desks.
Then why is it that Forex trading has earned a moniker for being the riskiest and the most dangerous investment options of all time? Sign Up. After all, Forex trading is a business that is expected to follow all the rules and regulations that apply to all industries that deal directly or indirectly with consumers. Due to the rising number of financial scams and consumer abuses, different Governments from around the world have increased their regulatory oversight by introducing strict regulatory conditions for all financial companies.
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Some countries such as the US have also gone to great lengths by changing several trading conditions in order to prevent brokers from exploiting their investors in any manner. In other regions such as Europe and Asia-Pacific, countries have created extensive regulatory frameworks to ensure that Forex brokers operate in a transparent manner and uphold the integrity of the financial markets. Here are some of the top reasons why you should trade with the best Forex brokers for ensuring a safe and secure trading environment:. Therefore, as a trader, your top priority must be to conserve your funds against financial scams by choosing regulated Forex trading companies.
A regulated firm not only secures your trading capital from illegal financial transactions, but most high-quality regulators from the US, EU, and Asia-Pacific have investor compensation funds that provide compensation to its investors if a broker winds up its business. Some dishonest brokers are known to indulge in intimidating behaviors to make profits from their clients.
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A good amount of regulation is key to staying safe from all instances of consumer abuse and to enjoy a peaceful and enjoyable trading environment. For instance, spread betting and binary options trading are legal in the UK, while it is considered as an illegal financial product and subsequently banned in the US. Some Forex brokers deliberately flout the rules by catering to traders without informing them about the legal aspects of a financial product.
The best FX brokers that have proper authorizations and regulatory licenses will always ensure the legality of a product before offering it to their customers. These orders are either filled at the broker level through market maker protocols or taken up by the liquidity provider at the interbank prices through ECN or STP protocols. Most of the established regulators have issued strict guidelines to its brokers to ensure that there is only a minimum amount of conflict of interest with their traders.
Therefore, you should only choose reliable partners that are able to offer you the best market access that does not limit your trading freedom. As a trader, you should have all information related to the trading conditions to prepare yourself for the best outcome in the markets. Hidden costs of trading and questionable margin strategies from the broker can put you out of the markets swiftly, which may be a huge hindrance to your trading strategies.
Forex trading began as a relatively unregulated market that allowed several companies to take advantage of unsuspecting traders. Until quite recently, it was incredibly difficult to find the best FX brokers from the overwhelming majority of companies that offered their services from different parts of the world. The lack of any serious regulatory oversight and the inability of traders to determine the quality of a Forex broker prevented investors from exercising due diligence while choosing a Forex trading company.
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The relative lack of information from online media and misinterpretation of the facts by dishonest market elements also paved the way for countless financial scams that resulted in billions of dollars in losses for both small and large investors. An unprecedented amount of unrealistic expectations from inexperienced traders has also rendered a certain measure of negative reputation for the Forex trading community as a whole. Several Forex brokers lured traders into the untold riches of the market by promising impossible returns from Forex trading through high leverage, only to profit from their losses time and again.
Other brokers simply sought to keep all the money to themselves by not honoring any withdrawal requests made by their clients, which creates tremendous psychological and financial hurdles for millions of Forex traders. We compile a ton of Forex broker reviews by considering different parameters that contribute to a fair and reliable trading experience.
As professional traders with many years of expertise in the market, we realize that no company is perfect and there can be shortcomings with every Forex broker that we review. Even some of the best Forex brokers in the market can make terrible mistakes, which are simply considered as part and parcel of the financial markets. Nevertheless, our aim is to provide you a list of the top Forex brokers on the market that is guaranteed to keep your funds safe and offer you a favorable environment to enjoy profitable FX trading.
Here are our considerations while compiling the list of best FX brokers:. Some geographical locations are considered to be far superior to others, which makes sense due to the different regulatory guidelines imposed by various Governments.
Location and regulation go hand in hand with each other, especially when we consider the advantages of trading with a regulated broker that is supervised according to the best standards in regulation. Naturally, the top countries in our preferred list of geographic locations are also home to some of the most feared and respected regulatory organizations in the world, which further reinforces our belief in the effectiveness of these agencies in combating broker scams. Although tax havens have a negative reputation in the industry, there are several FX brokers from these countries that offer high-quality services without inconveniencing their clients in any way.
We believe that everyone should be able to access the market without being discriminated. Several Forex brokers in the market specifically reserve their services for rich and wealthy investors. Although we do not find anything wrong with companies catering to an exclusive niche of traders, we try to concentrate on brokers that offer services on a global platform, where every classification of trader gets to choose a trading account that is well-suited to his or her trading requirements.
Brokers also categorize their financial products according to different account conditions, and we check all the fine aspects of a trading account before recommending them to traders. The cost of trading varies according to the type of protocol adopted by the broker, the kind of market access, and the trading features. We typically recommend ECN brokers that offer 0 pip spread guarantee along with the lowest commissions for cost-effective trading.
On the downside, a small movement in the opposite direction of a trade can induce a margin call, which is designed to protect both the broker and the trader from a negative balance. Platform performance and its reliability can mean a world of difference between winning and losing in the markets, which is why the top FX brokers always concentrate on providing the best trading interfaces to its clients. From our extensive experience of dealing with various Forex brokers, we understand that the safety of funds and the speed of transactions are far important than other qualities of FX brokers.
Forex brokers that pay attention towards facilitating fast, smooth and secure payments are always considered to be more reliable than brokers that concentrate their efforts only on improving the FX trading environment. Modern-day consumers are wary of all business that involves financial transactions.
A significant majority of retail traders want the reassurance that they can contact the company representatives at any time of the day or night for any concerns, and they expect their broker to offer friendly and professional support to resolve their problems. Most top regulators also provide support services to its investors in the form of Financial Ombudsman, arbitration, and the opportunity to be represented by a legal advisor for conflicts that reach the court.
It is also safe to assume that the best FX broker in the market will always try to solve its differences with its client, rather than dragging their conflicts into a legal proceeding. Increased competition among brokers means that traders have far different options and are not at any discretion to choose a broker according to their merits alone. Therefore, several top Forex brokers now offer attractive rewards such as signup bonus, deposit bonuses, loyalty programs, cash rebates, and free promotions to lure traders into their brokerage accounts.
We find and suggest the best broker forex that offers decent rewards and promotions without burdening the trader with impossible trading conditions. At BestFXBrokers. As traders, we have invested our money in various brokers over the years, and clearly, understand the benefits of comparing different brokers before finalizing a Forex trading company that can assure us of world-class brokerage services.
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The following Forex brokers list will provide you with all the necessary broker information such as regulatory status, minimum deposit option, type of trading accounts, maximum leverage, spreads, commissions, bonuses, payment methods, trading platforms, and other aspects of trading that might help you in choosing a high-quality FX broker. It is common for internet users to find all types of reviews about different online products and services, which can have both positive and adverse effects on businesses and their consumers. Honest Forex brokers reviews are too rare, especially due to the wide-spread online media that allows anyone to post any kind of information without verifying the actual facts claimed in these reviews.
For example, we have seen an alarming amount of negative reviews left by disgruntled traders, former employees, and dishonest competitors to tarnish the image of otherwise honest and reliable Forex brokers. High-quality research and education. Limited cryptocurrency assets. Superior trading tools. Well-regulated in five jurisdictions and owned by an FTSE company. AvaTrade was founded in in Dublin, Ireland. They enjoy an extremely high and strong level of regulation, making them a favorite for traders who are extremely nervous about the security of their deposit, which in Ireland can be protected by a strong investor deposit protection provision.
In addition to their longevity and safe reputation, clients know that through AvaTrade they have access to a broad range of asset classes through which diversification can be achieved successfully: AvaTrade offers trading in over 55 different Forex currency pairs, 17 commodities, 20 equity indices, 14 cryptocurrencies, plus 66 individual stocks and shares. Even better, and unusually, 2 bonds and 6 ETFs are also on the menu. The diversity offered here stands out. Whether you are located within the European Union or not, all branches of AvaTrade will offer you negative balance protection, above and beyond what is mandated by the law.
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This means that under no circumstances will any client of AvaTrade ever be held liable by the firm for an amount larger than their deposit. Well-regulated globally, with the Bank of Ireland, the primary regulator. Low leverage for retail traders. Low minimum deposit and in-depth educational tools. High quarterly inactivity fee. Wide asset choice across seven sectors.
Unacceptable cost for AvaProtect. Superior mobile trading platform.
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Australian regulators are much more relaxed about leverage than their counterparts in the U. For most traders, the standout unique selling point of this broker lies in the incredibly wide range of tradable assets offered, providing an opportunity to trade over ten thousand individual stocks and shares. These go beyond the typical U. Also, over 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin are also on the menu here.
Traders can scalp and hedge at this broker, whose fast ECN execution speed makes it a natural home for scalpers. Clients may choose between the MetaTrader 4 and MetaTrader 5 platforms, and shares can be traded through the IRESS trading platform which includes access to level 2 exchange data. BlackBull Markets is a relative newcomer as a Forex broker, being founded in in New Zealand, which along with Australia, has become something of a haven for exciting Forex brokerages. Like many antipodean brokerage houses, BlackBull Markets is an ECN broker, offering raw spreads and competitive commissions.
New Zealand. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices. That should not worry the average trader who is more concerned to have a normal range of markets to trade without being overly worried about diversification.
BlackBull Markets impresses through a kind of quiet confidence — they do not make extravagant claims, they simply focus on providing the basics required for ECN trading well and at a reasonable cost. Read full review.