If you are interested in taking part in a trillion-dollar financial market that is easy to start then forex is the right place for you. Trading forex is no rocket science but once you go down this road, you will find a plethora of opportunities open up for you.
Not all trading opportunities in forex end profitably but those are meant to increase your experience and knowledge regarding the highly volatile and unpredictable forex market. All you need is a guide in the form of some best brokers to trade forex and you are all set.
Within the forex market, most of the broker platforms are said to be one of the best brokers to trade forex but that actually depends on the type of trader you are.
There are different categories and types of brokers available that would be appropriate for day traders and scalpers but those who are in for the long-term might opt for a different kind of forex brokerage platform.
Yet there are many “overall” best forex brokers within the market that one could choose to experience high-level forex trading. Below we have described the top 4 of them and some unique characteristics of these best brokers to trade forex.
Checkout These 4 Best Brokers to Trade Forex:
If you are new to the whole forex trading scenario then you will find a lot of people recommend using IG Markets as your first-ever professional forex broker platform to help you fit right in.
IG is definitely a great place to start forex trading even when you have zero prior experience. But here’s something you should know:
- It only offers forex trading to U.S-based users who are interested due to regulatory compliance limitations.
- IG’s platform is easy and intuitive but as compared to other alternatives, they could lower the fees and customer service.
People living in countries like Japan, South Africa, and even some parts of Europe have an inclination towards forex trading. But unfortunately, there are very few reliable and fully compliant fx brokers that are available to them. This makes AvaTrade a winner among several competitors. Following are some lesser-known facts about this broker;
- Diversified trading is very easy using AvaTrade and experts have called it one of the best fx broker platforms where even a beginner can start to trade in multiple currencies.
- Their platform has a lot to offer to all the advanced traders of forex who have years of experience.
- U.S-based traders are not allowed to join due to restrictions.
This platform is almost synonymous with copy-trading and social trading within the industry because of its unique offering. But there are still a lot of other equally important functionalities that make eToro not only one of the best brokers to trade forex but also crypto. Here are those features;
- Its easy stock trading offering is best-suited to traders living in the UK or Australia.
- eToro offers its premade portfolios in which users can invest their assets to gain profit.
- Though eToro is good for all kinds of financial market participants people do not actually prefer it for forex.
As suggested by its name, forex.com is known to be one of the most popular choices as an fx broker. But the main reason why this broker is good for both new and experienced forex traders is due to the fact that one gets access to all sorts of trading conditions using it. Below are a few things that people do not know about forex.com;
- If you decide to delve into securities trading such as stocks and bonds then forex.com would not be the right place to do it. Instead, you can focus on forex trading using this platform.
- This broker offers a wide range of educational and research tools so that one can properly analyze the market before trading. There is a functionally complete demo account for practicing trades also available for beginner-level users. The best thing about this is that it is all for free.
Forex.com is not a standard broker even now because there are several areas that lack improvement which is important for any brokerage platform to keep working normally.