7 Best Forex Trading Brokers Online

With a daily volume of more than 5 million dollars, the Forex market offers many possibilities to earn money, but also to lose it, and selecting the right Forex Broker is essential to take advantage of the largest financial market in the world.

With the aim of helping you make the best decision in this regard, we have prepared a list of the best available online brokers, mentioning their main characteristics, as well as advantages and disadvantages. We have also prepared some simple but very useful tips to use your criteria when deciding.

5 Tips to choose the best Forex Broker

  1. Education: all Forex brokers should be providing good training material for their users because that is the difference between making and losing money.
  2. Regulation: a state-of-the-art broker is regulated by legal institutions and clearly states to which regulations it is subject.
  3. The scope of the market: the more options you have to earn money, the more chances you will have to benefit, choose a broker capable of offering a good number of currency pairs. -some even include cryptocurrencies, raw materials, and stock indexes, to name a few.
  4. Tools: it is not enough to enter a website and buy or sell currencies, you need calculators, tables, charts, programs, news, alerts and many other tools to keep up with the market and make well-thought
  5. Accessibility: the broker you choose must be compatible, at least, with your web browser. Most offer software to be operated in a Windows or Mac environment, as well as apps for Android or iOS phones, tablets, and other devices.

Knowing this will ease the way through choosing a nice platform to get started, so let’s get to our list of the best brokers available at the market right now:

AvaTrade Broker

Official Site

Founded in 2006 in Ireland, AvaTrade has become a trusted online Forex broker, in fact, it is a leading company in its sector and official sponsor of the successful Manchester City team in recent years, as part of its campaign to reach a larger audience

To prepare you as a trader they have created a respectable education area, with videos, a practical eBook with trading strategies and a section dedicated to beginners, which explains from the simplest concepts to the correct ways to operate.

Besides, their customer service is available 24/7 in about 15 languages, in addition to being widely certified for their safety and laureate by different organizations such as The European or FXEmpire.

Pros

  • Operates cryptocurrency CFD trading in Bitcoin, Ethereum, Dash and Ripple.
  • Regulated in the European Union, Japan, Australia, BVI, andSouth Africa.
  • It has offices in 11 countries.

Cons

  • Relatively few currency pairs, about 60.
  • The ActTrader trading platform is not within the main offer.
  • They do not have a proprietary platform.

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FXTM

Official Site

Operating since 2011, FXTM has managed to develop its platforms to include the set of commercial applications MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Also, it allows its traders to trade with 59 currency and CFD pairs, 11 indices, six metals, three energy contracts, and three cryptocurrencies.

As regards its tools, twice a day provides trading signals in more than a dozen instruments, these alerts include eight currency pairs with stop-loss and multiple levels of profit taking.

A particularly striking feature is their low rate in commission-based accounts (ECN), the round shift commission (RT) is $ 4 per 100,000 units based on $ 2 per side per standard lot, a rate that is only bested by their Pro account.

Pros

  • FXTM Invest in the car trade.
  • Offer CFDs for the cryptocurrency.
  • Regulated by the European Union, the United Kingdom, South Africa, Cyprus, and

Cons

  • Certain types of markets segmented through types of accounts (Pro and ECN).
  • In ECN accounts, you can only add stop and limit levels after the execution of the exchange.

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easyMarkets

Official Site

Operating since 2001, easyMarkets is one of the first and most reliable brokers that you can use. They offer an overwhelming possibility of trading by providing close to 200 instruments, including 97 currency pairs, 22 metals, 12 commodities, 15 indexes,and29 options, in addition to future contracts.

Here you can choose to operate on the online platform or apply the well-known and reliable MT4 software. Due to the way it was developed, its online platform is compatible with most internet browsers.

This option is particularly useful if you are starting as a trader and your computer is not exactly in excellent condition, because its online platform has many instruments and is really light weighted.

Pros

  • Regulated in the European Union, Cyprus, and
  • It offers three CFDs for cryptocurrencies.
  • It operates with about 200 instruments.
  • They offer execution tools and commercial protection without slippage.

Cons

  • There is no Meta Trader 4 for the website nor news and headlines for the MT4 desktop app.
  • Only offers by fixed spreads.

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Vantage FX

Official Site

Founded in 2009, it can be said that Vantage FX is an intermediary broker that has endeavored to provide its clients with as many platforms as possible for Forex trading, basing its web platform on MT4 and MT5 software, as well as offer to operate directly with these, also has ChartIQ and Zulutrade.

If you want to implement limits on the available leverage thresholds, Vantage FX does so by means of account balances, applying several restrictions that start at amounts as small as $ 5,000 and then $ 10,000, where the maximum leverage is reduced.

Trading on your platform you will have access to 38 currency pairs and 24 CFD on global indices, energy, metals, and bitcoin. It can be said that it is a platform for “retail” traders.

Pros

  • It offers the MT4, MT5, ChartIQ and Zulutrade platforms.
  • Provide indemnity insurance for XL Catlin.

Cons

  • It is only regulated in Australia.
  • Poor customer service
  • Few elements of negotiation.
  • Leverage is drastically reduced from $ 5000 transactions onwards.

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FxPro

Official Site

In existence since 2006, FxPro is one of the most trusted Forex business platforms. This broker currently operates stocks, indexes, metals, and energy contracts as well as futures markets, in addition to traditional currency pairs. It has clients in more than 170 countries and is strictly regulated.

FxPro offers its traders the traditional MT4 and MT5 platforms, as well as a version with the FxPro brand of the cTrader platform developed by Spotware Systems. In addition, its online version and the mobile version is efficient.

In relation to the education you receive as a trader, FxPro combines its own cross content with third-party content, thus maintaining a broad market focus.

Pros

  • Regulated in the United Kingdom, the Bahamas, Cyprus, South Africa, and
  • Clients in more than 170 countries.
  • Excellent customer service.

Cons

  • Their platform lacks improvement, is a bit slow and confusing.
  • The educational section is not easily accessible.

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Pepperstone

Official Site

Pepperstone is an Australian broker which is operational since 2010 -regulated by local and United Kingdom institutions-. It uses the MT4 exchange platform, as well as the range of cTrader, cAlgo and cMirror platforms. It also offers third-party platforms for the social exchange of copies of companies such as ZuluTrade, Tradency and Myfxbook.

Unfortunately, the education section is very empty, so you will have to resort most of the time to other brokers to get advice, training and learn to use the different tools of the platform well.

The Razor account model offers greater advantages in terms of taxes or fees since it is based on a price structure built on commissions. Other options, like the standard one, are very far in this aspect.

Pros

  • Compatible with most mobile devices.
  • It allows trading CFD in Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and
  • Rich social exchange

Cons

  • Relatively small market, just over 90 values.
  • It does not have its own platform to run as a broker.
  • Weak education section.

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IC Markets

Official Site

Established in 2007, this company of Australian origin now offers more than 100 instruments of exchange through 63 currency pairs and 41 CFD indexes, metals, cryptocurrencies and futures contracts on the types of account available.

They use the popular platforms MT4, MT5, and cTrade, also offering an exchange of social copies through Myfxbook and the ZuluTrade platform. In addition, they provide compatible applications with Android, iOS, and iPad.

The news section is not available in its MT4 version, and the area dedicated to your education meets the minimum desirable standards for a broker.

Pros

  • It offers MT5 web, as well as desktop suite MT4, MT5, and
  • More than 100 tradable values.

Cons

  • The MT4 does not have news headlines.
  • They do not have their own broker platform.
  • Regulated only in Australia.

In The End

Each of the options we have presented you are worthy of your trust and comply with international standards, in addition, they are supported on several platforms to allow you to choose the one that is most comfortable for you, as well as to benefit from its accessibility by having mobile applications developed for Improve your experience and maximize efficiency when trading Forex.

Making the best decision will ease you a lot of trouble –And probably money-. If you are new to this world, AvaTrade is a great option to get started due to its amazingly interactive material, but if you are already good at charts and news, move forward to FXTM where you will trade with a lower fee all around.


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