One of the most important ingredients that are required by the individual concerned while starting a Forex career is having a trading account with top Forex brokers. The broker would be the actual connection between the financial market and the trader. It is the broker who provides essential amount of coverage for the trader with a desired level of margin. Given the fact that hundreds of different brokers available at the moment, the real task is to find the exact broker that matches the standards of the trader concerned and it is able to provide an ideal platform for FX trading. At OBF, we present to you the top Forex trading brokers who are the best-rated ones in the market as per industry standards and you will be totally satisfied while having business with them.
Top 3 Forex Brokers Recommended for FX Trading
- IC Markets: It is one of the preferred brokers for FX trading that was founded in 2007 and is a Sydney-based brokerage firm. It is regulated by ASIC and offers two types of trading platform namely Metatrader 4 and cTrader. It has a comprehensive list of assets with at least 40 different types of currency pairs in AUD, SGD, GBP, EUR and USD. The broker provides the best-rated bonus and other special promotions to the new customers. It provides $200 as a welcome bonus for anyone who registers for the first time with ICMarkets. The payment service is good and the customer service is truly amazing.
- Plus500: It is a very popular Forex broker with headquarters based in London in the United Kingdom. Apart from Forex, the merchant also offers its services in ETF, CFD, Indices, Commodities and Stocks. The best thing about the broker is its overall trading platform which is absolutely in-house and uniquely developed. It has the best interface ideal for newbie traders and offers all kinds of tools and educational material required for FX trading. The spreads are low and fixed which starts at 2.0 pips. The demo account is available and one can open a trading account with 100 EUR. They are one of the highly reliable brokers in the industry and are completely trustworthy.
- IronFX: It is a Cyprus based broker and is regulated by a large number of regulatory authorities like for instance CySec, UCRFIN, FSP, FCA and ASIC. It offers more than 200 different types of financial instruments as a part of its asset index for Forex trading. The broker provides 15 different types of trading platform and one can choose the one suited to their needs. Leverage is available up to 500:1 with tight spreads to offer. It offers multiple accounts for traders starting from $500. Customer service is pretty awesome with dedicated professionals always available 24×7 for troubleshooting and trade related guidance. It has a great track record in the past and the broker has never embroiled itself in any kind of scandals.
What is Forex and How Does it Work?
3 Important Criteria in Selecting Top Forex Brokers
- Reliability: The trading platform should be good and the traders should find it user-friendly. Make sure that the broker does not have any bad record in the past and is rated well as per market standards. Read the reviews of customers and in this way, one can get a final picture about the overall reliability of the broker concerned.
- Cost: Brokers does not charge commission from the traders but they manage the same by charging spreads on investments. When you are searching for a broker, make sure that the brokerage firm does not charge more pips else it is not worth the investment. It is important to note that your preferred broker should not offer fixed spreads more than 2.0 pips. Search for a type of broker who does not charge commissions or any type of fees when you want to withdraw funds from your trading account.
- Margins: Search for a broker that offers the low margin and high leverage. In this way, you will be able to make the necessary risk tolerance in your business and keep losses at bay. In this way, you will be able to make great profits and incur less loss.
Reliable Forex Sites
These are some of the important guidelines one should consider and use it in their practical life while approaching a Forex broker. In this way, one will be able to get access to reliable and trustworthy top Forex trading brokers who can then reap great benefits in her/his overall Forex career.