List of forex trading brokers

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Content:

• Currency Trading
• Best Forex Brokers and Platforms
• Best Forex Trading Platforms: Most Famous Forex Brokers & Traders of 2021
• Navigation
• Want to get into investing? Start with these free stock trading platforms
• 9 Best Forex Brokers in the UK
• What is Forex? Understanding the market for exchanging foreign currencies
• Best Forex Brokers in Kenya 2021
• Best Regulated Forex brokers
• Best Forex Brokers Kenya 2022

WATCH RELATED VIDEO: Forex Brokers List - Regulated Forex Brokers Full List 2022

Currency Trading

Which forex broker is the best? From tight spreads to customer service, we help you find the best forex trading platform for you. In our list of the best forex brokers, we have considered a wide range of factors, from fees and spreads to trading platforms, charting and analysis options.

We will expand on each area later on in the article. The services that forex platforms provide are not free. You pay for them through spreads, commissions and rollover fees. The fee structures differ from one forex broker to another, and even from one account type to another.

There are two widely used basic setups. Most forex brokers make money through spreads on currency pairs. This can be either fixed or variable. Fixed spreads are always constant, regardless of market volatility.

Variable spreads change, depending on the traded asset, volatility and available liquidity. Daily spreads may only differ slightly among forex platforms, but active traders or even hyper-active traders are opening positions so frequently that small differences can mount up. Traders should always be looking for forex brokers with the lowest spread.

A commission-based fee structure usually suits other tradable assets, such as stocks and shares. However, you may encounter an instance where a commission is charged by forex brokers. Use a profit calculator to understand whether low spreads make up for this.

Forex positions kept open overnight incur an extra fee, known as a rollover rate. This charge results from the difference between the interest rates of the two currencies. While most forex brokers offer an impressive-looking selection of currency pairs, not all of them cover minors and exotics. For example, if you want to trade Thai Bahts or Swedish Krone, you will need to double-check the asset lists and tradable currencies.

These currencies are less commonly traded and therefore may not be offered by all platforms. Some will even add international exotics and currency markets on request. Such flexibility is obviously a major asset. Cryptocurrency pairs are ubiquitous nowadays. This allows retail traders to match real currencies against alt-coins in order to profit from exchange rates.

The massive volatility associated with these products makes scalping a viable strategy for profitability. The regulation of cryptocurrency varies globally. For example, for US residents, there are often difficulties accessing some of the largest exchanges due to SEC regulation. And, in the UK, all crypto derivatives are now banned. Not everyone trades forex on a massive scale. In fact, many forex traders are small-timers. Often, forex micro accounts do not even have a set minimum deposit requirement.

Such cheap trading options make sense for those looking to use real money, without risking their life savings. Platforms are your portal into the investing world — giving you the ability to open and close trades but also monitor price changes and complete analysis. They provide traders with technical analysis tools, live news feeds, diverse order types, automation, advanced charting and drawing options etc. Some may include sentiment indicators or event calendars. In fact, all in all, you can bring 31 different graphical studies to your results, including Fibonacci studies and Elliot wave drawing tools.

Plus, it was also one of the first to deliver analytics to mobile. You can access almost all these powerful tools on your phone just as easily as you can on a desktop. It really depends on what you want it for. Forex brokers will usually offer both MT4 and MT5 as options.

Although, MetaQuotes have stopped selling licences for MT4, so new brokers may not offer this. TradingView is also a popular choice that consistently ranks within the top 10 platforms. NinjaTrader is praised for its advanced features and technical analysis tools. In particular, the NinjaTrader Ecosystem allows access to thousands of apps, EAs, and other add-ons created by external developers. Another popular option for forex trading platforms is the bespoke route.

But at the same time, they can be less versatile. Proprietary solutions are in some cases less than optimal. In fact, many do not offer the functionality altogether. While we are discussing strategies: not all forex brokers support strategies such as hedging, scalping and EAs. Make sure you understand any and all restrictions in this regard before you sign up. For those who want to trade on the go, a mobile app is obviously important.

While all forex brokers feature such apps these days, some mobile platforms are very simplistic. They lack all the advanced analysis and market research features, and as such, are hardly useful. You can see a list of the best forex broker apps here.

The developers of trading software are often adding new and unique functionality to their platforms. But some also allow user-developed AI or tools to be added. This added configurability is very attractive for certain traders. Signal platforms, as the name suggests, are set up to alert the user when certain market conditions are met. Within this type of software, you can dictate when you receive signals and how they are sent. Speed is crucial when using signals. Systems can also be configured to recognise certain patterns.

Signals can add some discipline to trading, as, in theory, trades will only be placed when certain conditions are met — reducing any made on impulse.

This is a double-edged sword, though, because it still relies on your judgement to make the correct decision once the signal has been sent. Automated trading software takes forex signals to the next logical step. Not only will opportunities be identified based on your configuration but the trades will also be automatically placed as per your commands. Put simply, the automated forex trading software systems — called robots or bots — will trade your money using a pre-determined set of entry and exit criteria that you decide in advance.

There are apps that you can download to check the progress of your forex bots on the move, but fundamentally it is up to them to make the right trades. In comparison to signal platforms, the frequency of trades placed by automated forex platforms cannot be matched.

The robot will follow the trading rules until the balance runs out, and that can all happen very quickly if things start going wrong. Automated forex trading platforms are a domain for the experienced trader only. From charting to futures pricing or bespoke trading robots, forex brokers offer a range of tools to enhance the experience. Again, the availability of these as a deciding factor on opening account will be down to the individual. Level 2 or Level II data is one such tool, where preference might be given to a brand delivering it.

Some traders may rely on their forex broker to help them learn to trade. From guides to classes and webinars, educational resources vary from brand to brand.

However, a broker is not always the best source for impartial advice. Consider checking other sources too — such as our Education page. There are some massive disparities between the costs associated with deposits and withdrawals from one broker to another.

Such disparities mostly result from the internal procedures observed by different forex brokers. At one platform, it can take as much as 5 times longer to fund an account than at another. The incurred costs differ quite a bit as well. Otherwise, the payment process largely hinges on the accepted money transfer methods. It would make sense for forex brokers to adopt as many such methods as possible, yet some still fall well short of the mark. This can act as an entry barrier to less experienced clients with less capital to invest.

The majority of forex platforms tend to accept Skrill and Neteller too. Forex brokers with PayPal are much rarer. The same goes for forex brokers accepting bitcoin. First of all: disgruntled traders are always more motivated to post feedback. They are not likely to be unbiased. Secondly: not all of this feedback is factually correct. Even sites like TrustPilot are blighted with fake posts or scam messages.

There is no quality control or verification of posts. That said, it is still relevant. To the trained eye, genuine trader reviews are relatively easy to spot. The utter lack of community feedback is red flag as well. People always have something to say about forex brokers. Therefore, something is definitely amiss if there is no information available in this regard.

Best Forex Brokers and Platforms

To help you find the best forex brokers in , we went ahead and did the research for you. First, we selected quality online brokers, then we checked and compared fees, currency pairs, charting tools, platforms - practically everything. And now, without further ado What makes a good forex broker? First of all, fair forex fees and low withdrawal fees. They should also offer many currency pairs and a great platform with advanced charting. All of these are easy to list, but hard to figure out.

Best Forex Trading Platforms: Most Famous Forex Brokers & Traders of 2021

To create a better first-hand customer experience, the company has launched the trading platform with demo and live accounts. At the end of last year, Mr Ihab Maximous, a specialist at Exinitic, set a unique achievement by passing MetaQuotes certification in all possible areas. MQL5 Cloud Network was launched on October 14, to arrange the exchange of computing resources between those who need them, and those who can provide idle CPU time on their computers. A powerful platform for Forex and Exchange markets Successful trading starts with convenient and functional trading. MetaTrader 5 is the best choice for the modern trader. MetaTrader Market Buy or rent trading robots and technical indicators. Trading signals Subscribe to signals of successful traders and copy their deals. Freelance Order robots or applications from professional developers. For business organization For brokers For hedge funds.

Navigation

Our Forex broker list offers information on only the most trusted Forex Brokers in the industry. Click on any of the brokers below to find out more about them. Forex Broker List. Our Forex broker list will help you make the most informed decisions when it comes to trading Forex and Fx brokers, helping you having complete confidence in your broker so you can focus on trading. No Fx trading company is exactly the same.

Want to get into investing? Start with these free stock trading platforms

Investing is one of the best ways to set aside money for retirement or to grow your wealth. To do so, you'll need to open an account through a brokerage or trading platform. Luckily for the average investor, it's easier than ever before to buy and sell investments through online brokers — many even offer smartphone apps. Most notably, the trading platform Robinhood is known for offering zero-commission trades through its mobile app, drawing younger investors to put their hard-earned dollars into the stock market. Given the growing popularity of Robinhood — it has over 13 million users, 3 million of them joining in the first quarter of — many brokerages have responded by lowering their fees, with several now offering zero-commission trades. Plus, these firms often don't mandate account minimums and offer free stock trading platforms, making investing even more affordable.

9 Best Forex Brokers in the UK

Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre. Please read our Privacy Policy. What is the core component that impacts the success of a brokerage company? Most business owners name trading platforms, payment providers, or licenses. Those ones are of much account as well; meanwhile, the vast majority of brokerage firms implement one and the same solutions. As for distinctive factors, CRM systems come to the fore.

What is Forex? Understanding the market for exchanging foreign currencies

A Forex broker is an intermediary between a trader and the currency market. Retail foreign exchange trading is not possible without a Forex brokerage. A good broker provides a trading platform, accepts deposits and processes withdrawals, provides leverage , and promptly executes trading orders. Sometimes, FX brokerage companies would also offer education, bonuses, trade copying, and other resources and tools.

Best Forex Brokers in Kenya 2021

You can rest assured your money is safe when trading with Pepperstone. It has a solid track record among traders. Pepperstone is one of the largest and regulated forex brokers in the world with intuitive and easy to learn interface is great for all newcomers to trading! Pepperstone is a forex broker with overall great reviews from traders in Nigeria. Visit Pepperstone.

Best Regulated Forex brokers

Brokerage companies are scattered all over the world and have many differences in trading conditions, products and services. Some companies are regulated, others are not. Some have been around for decades, others are rather young. Certain brokers work as Market Makers and have fixed spreads, others provide STP or ECN accounts with direct market access and offer a much larger selection of underlying assets for trading. This site was created to help you find the best forex brokers for your specific needs and requirements. There are several sections and filters in the menu on the left. These can be used to create a custom list of entities with preferable parameters and characteristics.

Best Forex Brokers Kenya 2022

Foreign exchange, commonly referred to us as Forex, can be as simple as converting one currency to another currency, or as sophisticated as trading currency in the Forex market. Since the currency market is a huge and decentralized over-the-counter OTC exchange, one has to practice due diligence in selecting a Forex trading broker to understand the nitty-gritty of currency trading. Trading with the right broker is vital for a successful currency trading.