A Forex broker has to be very reliable and efficient to be able to produce fast returns on your investment before you commit resources into his/her care. The Forex trading business is a strict type of financial investment, and as such requires optimal caution in all dealings. Before diving into the currency marketing business, you must carefully evaluate your Brokers to know they are equal to the task. To be frank, there are lots of fraudulent people parading about like trusted brokers, so you should be warned. You need to know the qualities to look out for before picking a Forex Broker.
Qualities to Look Out For in a Forex Broker
Every trusted and efficient Currency Broker would exhibit the following qualities:
- Check to know if the Forex is Regulated or not.
- Check the volume of currency combinations and the quantity the broker has on offer. If this is much then he is a good choice.
- Check if you are offer different types of account to pick from. Also check the level of personalization available for each account.
- Check if the brokerage firm operates a reliable customer support system that will be easy and fast for you to always monitor your investment’s progress.
List of Top 10 Forex Brokers in the World
You have just seen the qualities every good Forex broker should have. As a progressive step towards guiding you in the currency market, here is a list containing the best from around the world. This comes as result of a comprehensive research done to evaluate the best currency brokers, all for your advantage.
1 – FXPro
Since 2006, FXPro has been excellent in their service and stands as one of the best around the world. It provides the cTrader and MT4 for traders of algorithm, plus the selection between dealer execution and agency execution on all accounts offered. They are regulated by United Kingdom Financial Conduct Authority which also authorized them for service. Cyprus Securities and Exchange Commission still regulates and authorized the financial services on offer in FXPro. This will make a good pick for anyone looking for a regulated trusted currency broker.
They are excellent brokers with a great depth of experience, because they have been in this business for a very long time. Their great strengths are built on the level of trust and protection to your investment they offer. Like every good brokerage firm will have, they are regulated by CYSEC. You can start trading with them with as low as $200 cash deposit. One can get up to 1:1000 out of a 0.1pips spread. Alpari offers a demo account for all new traders coming in to the system.
3 – Etoro
This broker excels in social trading coupled with social copy trading as well. Their customer service through live chat support is equal to none – very responsive. They boast of a robust and luxurious trading platform with great facilities for the operator. EToro is regulated by CYSEC and also NFA. Within this system a trader can start with a minimum amount of $200 that earns him a bonus of $1,000 on the platform. They also operate demo accounts too.
4 – Markets.com
Safecap Investments Limited a Cyprus based company founded and runs Markets.com brokerage business. This Forex Broker is regulated by FSB and CYSEC, and is very reliable with high trading performance. You can easily start trading here with just as little as $100 receiving a bonus of $25 for trading. New users can operate Demo accounts to test the market.
5- XM Broker
Regulated by CYSEC like other reputable forex trading brokers, XM Broker shines amongst others with the efficient and trustworthy services rendered to its over half a million clients around the world. Its demo account offers $100,000 for new traders to test the trade and there are minimum amount required to start real trading. However, there a bonus of $100 received for trading on the platform.
6 – FXTM
Andrey Dashin the founder of Alpari is also behind FXTM that was established since in 2012 and has become the fastest growing among its counterparts. It is regulated by CYSEC, providing reliable service with several awards received for trading inventiveness. The bonuses available for traders are from 200 percent rising to $10,000 pending on the rate of trade. With just $5 trading can begin, new traders can start with a free demo account.
7 – AVATRADE
Unlike most reputable Forex Brokers, AVATRADE is based in British Virgin Islands and not in Cyprus. It regulation comes from the Irish Authority (MIFID) and also from ASIC. Its founders are Ava Financial Ltd, providing trusted and competent service to all its clients all over the world. Accounts can be operated on both mobile and web platforms. Start trading with $100, get bonus on trading up to 40 percent and new traders can use demo trading accounts.
8 – InstaForex
This is a broad based Forex Broker covering most parts of the world – it is a Russian Brokerage firm, functioning with offices in Asia and London. The Russian government licensed it for dealing, capital services and brokerage. There are many easy trading components available for efficient trading. Get bonus on trading up to 250 percent with just a starting deposit of $1, demo accounts for new traders are available.
9 – Forex.com
This Forex Broker has variety of tools and services that maximizes profits while trading. These tools and services are productive trading tools, research tools, and responsive customer service. Trading can be done both on mobile devices and on the web. Forex.com is regulated by many bodies as well.
10 – TD Ameritrade
This is a United States Based Forex Broker best known for its excellence in mobile trading. There are so many varieties of currency pairs available for trading precisely up to 130 pairs. It has great tools that reports with charts showing over 300 indicators.