How to Choose the Best Forex Brokers for 2021
- Check Our Hot Topics:
- Top Forex Brokers for 2021
- Parameters for comparison
- Is their activity regulated?
- VIP Forex
- Rating of the Best Dealing Centres
- The Best Forex Indicators
- Profitable Strategies
The best Forex brokers is an independent review of the best rating companies presented in the currency market taking into account their existing advantages and disadvantages. Quite a great number of people making their first steps in the Forex market face the problem of choosing a broker; this step influences such factors as reliability, work efficiency, modern technical support and trade conditions. We would like to make a brief review of the best Forex brokers UK, who have gained traders’ trust and have been long performing currency transactions. Opening an unlimited deposit (some Markets.com customers have deposits in several tens of millions of dollars). Scalping acceptance and lack of interest conflicts are important factors as transactions occur in the real market.
|Best Forex Brokers 2021|
|HYCM Review||FCA, MiFID, SFC, DFSA||$100||N/A||Read Review||Trade Now|
|Easy Markets Review||ASiC, CySEC||$25||$2,000||Read Review||Trade Now|
|IronFX Review||CySEC, FCA, ASIC, FSCA||$100||100%||Read Review||Trade Now|
|XM Review||ASiC, CySEC, IFSC||$5||Up to
|Read Review||Trade Now|
|Forex.com Review||FCA, NFA, ASIC, FSA,
CIMA, CFTC, IIROC
|$50||N/A||Read Review||Trade NowUS Traders|
|Plus500 Review||CySEC, FCA**||£100||N/A||Read Review||Trade Now|
|FXGiants Review||FCA, ASiC||$100||$2,000||Read Review||Trade Now|
|CM Trading Review||FSB||$250||$2,000||Read Review||Trade Now|
*CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
**Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909). Plus500CY LTD is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence No. 250/14).
To choose the best one, take the following 4 simple steps:
- Study the broker rating in our website
- Compare them according to the key trade conditions
- Try trading with a free demo-account
- Finally determine your choice and turn to trading with real money
Nowadays there are a lot of Top Forex brokers in the market; they seriously compete for getting customers. The companies offer different trading terms, it is sometimes rather difficult even for an experienced trader to sort out all of their peculiarities, let alone novices.
There are at least two important indicators characterizing a broker, they are regulation and capitalization. These indicators have a concrete expression, so it is easy to compare brokers using these indicators. Actually, they are not the only essential indicators. Some indicators can be of primary interest for you, whereas the others will be minor.
The likely list of parameters for comparison:
- broker’s accountability and controllability
- trading platform
- quality of customers’ support
- commissions, spread and other payments
- Forex account types
- margin trading size
- stop out terms (margin call)
It is vital to consider how the broker’s activity is regulated. If the regulation is performed, it is important which country it takes place in, as not all the countries have similar strict rules in this sphere. For example, a company registered in an off-shore zone is completely free from any state control. Special agencies to control Forex brokers have been created in some countries. The countries which traditionally have strict legislation for Forex brokers’ activity are the USA, Australia, Japan, Great Britain and EU countries.
Is a Forex broker’s activity regulated?
When you are choosing a perspective broker, find out what regulation agencies this broker has been registered by. Forex market is denounced as a “non-regulated” one; generally that is the case. The regulation is usually reactive, which means that something will be undertaken only after you have been cheated.
A Forex broker must be registered as FCM (Futures Commission Merchant) in the CFTC (Commodity Futures trading Commission) in the USA. Unlike brokers working in other financial markets, Forex brokers are bound to banks, as they need a large capital. Brokers in Great Britain are regulated by FCA (Financial Conduct Authority).
If you want to choose the best broker considering the legislation, there are many of special interest, which companies work under all jurisdictions you can only imagine: the USA, Great Britain, Germany and Japan, where Forex is controlled by state organisations, speaking about Forex in CIS, it is included into KROUFR (Commission on Regulation of Relationships of Financial Market Participants).
If you trade in the VIP Forex and have more than $1,000 at your disposal, you have a chance to get a lot of benefits only for the trade volume. So the more you trade, the more services and different bonuses are available for you. Those bonuses are loaded up on you, if we may say so, only due to the fact that you have deposited a big sum of money to a broker company account. Special attention should be paid to such services as rebate (spread return); sometimes it is possible to return half of the broker’s commission thanks to this service, as they say an onlooker sees most of the game. Now let’s discuss where to get these bonuses in more detail.
Trade strategy based on a scalping system involves a quick opening and closing of positions. It is accomplished within several seconds (minutes). Such a trade is carried out with a great number of lots and requires a trader to be extremely attentive. Scalping is one the newest strategies, and it greatly loads up the terminal, so a lot of Forex broker companies are reluctant to allow trading with this strategy, they simply do their best to squeeze a scalper out of the trading system. On the contrary scalping brokers are very loyal, only cooperating with them we can get a guaranteed profit, the major thing is to get it out.
An advisor or a robot for automatic trading is an excellent option to earn profit without sitting at the broker’s terminal day and night. Its only disadvantage is that most script writers do not support advisors written, i.e. you can always download a free advisor, but it will be impossible to find its detailed instruction or get a consultation. The opening of advisor hosting which presents tested models of trading robots was great news for most traders.
Rating of the Best Dealing Centres
A dealing centre or DC provides services for trading currencies, precious metals, indices and contracts of different types. One of the trader’s primary tasks is to choose the most successful broker, and to do it a lot of important things should be taken into consideration. In addition, several tens of DCs should be thoroughly analyzed; to avoid all this you can use the following rating.
How to Choose?
To choose a Forex broker is rather a difficult task, but we ourselves have gone along this way, we can provide novice traders with some advice and recommendations; it will save you a lot of time and effort. As the right choice determines your first impression of the Forex market, the failure at the first try can discourage your desire to trade. The choice of a Forex broker is extremely responsible, especially after recent bankruptcies of several large broker companies when most traders could not get their money back.
Automatic Trading Guarantees Profit
If you have already tried to trade in Forex by yourself, you know for sure that it is not an easy task; to trade successfully you need a great deal of knowledge and experience. Some time will be required to obtain this necessary knowledge, but money is needed at the moment, so automatic trading can save the situation. It allows getting profit without any traders, at the same time its efficiency is many times higher than with a novice trader.
This category includes not only Forex robots, but also such options as transaction copying, special programmes for trust management and automatic trade terminals.
Forex Trade Advisors
This section presents more than 100 most profitable advisors designed for automatic trading in the currency market. These tools allow trading without a trader, only preliminary setting necessary parameters and indicators is required.
Trading takes place within the time frame chosen by you and according to the volumes set in advance.
Forex advisors are divided into several groups for users’ convenience; you can easily choose a necessary tool in accordance with the given trade strategy.
- Tested Forex advisors
- Ilan advisors
- Just the best options
- Paid advisors for professionals
Scalping is automatic trading in short time frames; robot opens lots of orders and closes them with a small profit. It is very important to consider a broker’s spread size when choosing this expert (advisor) variant, as profit is sometimes only a few points.
The Best Forex Indicators
You can download Forex indicators here as well as get a detailed description and execution of all necessary settings. Sometimes the appropriate signaling to open a position totally depends on the correct setting of this or that indicator. All the presented tools are divided into the following categories:
- Trend indicators show the trend direction, its strength and how long this tendency will be maintained.
- Reversal indicators send a signal that the opposite price reversal is approaching.
- The best indicators are the most popular models that proved themselves in the Forex market.
- New indicators are the latest achievements in the field of technical analysis.
- Creating a trend channel means tools for automatic creating a trend channel.
- Levels mean developing different levels for technical analysis of the market.
- Market analysis means various useful tools allowing people to carry out the market analysis.
- MetaTrader standard indicators contain the descriptions of indicators already available in the trader’s terminal.
This section presents Forex profitable strategies that have to bring maximum profit in the currency market. Each strategy has its detailed description and relevant indicators for free downloading. Their classification includes such main groups as:
- The best Forex strategies, they are options allowing people to get profit.
- Forex trading strategies are better to be used within one session.
- Japanese Candlestick pattern is based on a technical analysis.
- Forex profitable strategies are those ones that bring the biggest profit in points.
- Simple Forex working strategies can be used even by a novice broker.
- Moving averages strategies take into account the indices of moving averages.
- Scalping strategy is for trading using short term transactions.
- The tested strategies are those that have been checked in a real trade terminal.
Before employing a chosen option you should study how this or that tool works using a demo account, understand their main work principles and only after that it is possible to start trading in real.
|Not Verified Forex Brokers|
|24Option Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|Oinvest Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|ROInvesting Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|TradeFred Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|Capex Forex Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|ClickTrades Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|Markets.com Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|Trade.com Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|Xtrade Review||N/A||N/A||N/A||N/A||Read Review||Not Verified|
|IronFX Global Limited||2010||Old Broad Street Business Centre, 8th Floor, 55, Old Broad Street, London, UK, EC2M 1RX||+44(0) 203 282 7000||support@IronFX.com|
|Rodeler Limited||2009||39 Kolonakiou street, Frema Plaza, Agios Athanasios, 4103 Limassol, Cyprus||+357 25 firstname.lastname@example.org|
|8Safe UK Limited||2015||Level 17, 9 Castlereagh Street, Sydney, NSW 2000||+61 286 078 email@example.com|
|Easy Forex Trading Ltd||2003||5th Floor Kriel Court, 1 Griva Digheni, P.O. Box 53742, Limassol 3317, Cyprus||+357 25 828 firstname.lastname@example.org|
|GAIN Capital UK Ltd||1999||16 Finsbury Circus, London, EC2M 7EB||0800 056 email@example.com|
|BASFOUR 3773 (PROPRIETRY) LTD||2018||Suite 302, Ridge 6 Building, 20 Ncondo place, Umhlanga Ridgeside 4319, South Africa||+27 21 518 firstname.lastname@example.org|
|Royal Forex Ltd||2017||City home 81, 3rd floor, 128-130 Limassol Avenue, 2015 Strovolos, Nicosia, Cyprusemail@example.com|
|Trading Point Holdings Ltd||2009||12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor 3042 Limassol, Cyprus||+357 firstname.lastname@example.org|
|The Henyep Group||1977||3rd Floor 28 Throgmorton Street, London EC2N 2AN, United Kingdomemail@example.com|
|Plus500 Ltd||2008||Plus500CY Ltd, 1 Siafi Street | 3042 Limassol||Live Chatfirstname.lastname@example.org|
|Global Capital Markets Trading Ltd||2012||P.O.Box 343, Victoria, Mahe, Seychelles||+44 203 318 email@example.com|
|MagicPath Capital Ltd||2016||24 Piraeus Street, 4th Floor, Office 401, Strovolos, Nicosia 2023 Cyprusfirstname.lastname@example.org|