A Forex broker is an intermediary between a trader and the currency market. They offer a platform for traders to buy and sell currencies, as well as provide analysis of the market to help traders make informed decisions.
Forex brokers make their money from commissions on trades, so it’s in their best interest to provide a platform that is easy to use and has a wide range of features. It’s important to do your research before selecting a broker, as not all are created equal.
Some things you may want to consider include the spreads (the difference between the bid and ask prices), account minimums, commission rates, and customer service.
1. XM :
XM is the most popular and largest broker of the world. It is a market maker broker. Regulated by the Financial Conduct Authority, UK (FRN: 705428), CySEC (Licence: 120/10), and ASIC (AFSL #443670).
Advantage:
- One of the safest broker to deposit, trade and withdraw.
- Spreads are very low strating from 0.1
- No fees in deposit and withdrawal.
- XM Group offers over 10,000 different instruments to trade, including over 90 currency pairs.
- Withdrawal is quick usually within (2-6) hours.
Disadvantage:
- As it is a MM broker, sometimes spreads become slightly wider during news hours.
My view:
Considering all the pros and cons, I come to a conclusion that XM is one of the best forex broker. So I put this broker in the 1st position of my list.
To open an account in XM or to visit XM website just click in the button below:
1. IC Markets:
IC Markets is the world’s largest true ECN australian forex broker, regulated by top tier australian regulator named ASIC (AFSL No. 335692). Also it gained licence from CySEC. So it is considered as a safe broker. It started its journey from 2007 and running very successfully.
Advantage:
- One of the safest broker to deposit, trade and withdraw.
- Spreads are very low even starting from 0.05
- No fees in deposit and withdrawal.
- IC Markets offers 24/7 customer support, whereas other brokers offer 24/5 .
- Commision is also low compare to others.
- Ultra fast order execution. Average execution speeds of under 40ms.
Disadvantage:
- Negative balance protection is not available yet.
- Withdrawal time is a little bit longer compare to other brokers because some brokers offer instant withdrawal.
My view:
Considering all the pros and cons, I come to a conclusion that IC Markets is one of the best forex broker. So I put this broker in the 2nd position of my list.
To open an account in IC Markets or to visit IC Markets website just click in the button below:
Open Account in Icmarkets
3. Trader’sWay:
Trader’sWay is relatively ECN broker and regulated by CySEC, FCA, FSC and SC. Its popularity increasing everyday.
Advantage:
- USA & Canada allow for trading
- Spread starts from 0.0.
- Gives negative balance protection.
- Commission is very low compare to other brokers.
- Crypto currency trading facility & deposit facility.
Disadvantage:
- Have only three trading platform – MT4, mobile and web Trader
My view:
Considering all the pros and cons, I come to a conclusion that Trader’sWay is one of the best forex broker. So I put this broker in the 3rd position of my list.
To open an account in Trader’sWay or to visit Trader’sWay website just the button below :
4. Forex Time (FXTM):
FXTM is also a popular ECN/STP broker established in 2011 regulated by CySEC, FCA, FSC.
Advantage:
- One of the safest broker to deposit, trade and withdraw.
- No commission at all.
- No fees in deposit and withdrawal.
- Withdrawal is instant upto a limit, usually with in 1 minute.
- Negative balance protection.
- The best of FXTM is that they provide forex education by arranging seminer all over the world.
Disadvantage:
- Spreads are little bit higer when compare with IC markets and XM.
- Sometimes scalping becomes difficult because of the higher spreads.
My view:
Considering all the pros and cons, I come to a conclusion that FXTM is also a better broker than some other forex broker. So I put this broker in the 4th position of my list.
To open an account in FXTM or to visit FXTM website just the button below :
5. BDSwiss:
BDSwiss is one of Europe’s leading financial institutions specializing in Forex/CFD trading. The idea of BDSwiss was born in Kilchberg close to Zurich, Switzerland in 2011 where one of the founders was living. The business was established back in 2012 and has since then been providing online trading services to almost a million clients worldwide. We pride ourselves in providing the best possible trading conditions, state of the art platforms and unparalleled support. Today BDSwiss is part of a worldwide operating group with its holding in Zug, Switzerland.
Advantage:
- No commission at all (Monthly fee basis)
- Average withdrawal speed 5 hours
- Multiple account facility.
- Low spread/ECN
Disadvantage:
- Spreads are little bit higher when compare with IC markets.
My view:
Considering all the pros and cons, I come to a conclusion that BDSwiss is average no risk broker. So I put this broker in the 5th position of my list.
To open an account in BDSwiss or to visit BDSwiss website just click the button below :
