We found 11 online brokers that are appropriate for Trading Forex.

Best Forex Brokers Guide

Forex Trading Platforms

When comparing Forex brokers and their trading platforms. Find the best forex broker that is perfectly suited for you depends on a few factors.

The trading platform or software application should be stable and user-friendly. The charting tools should be easy to use and provide free news feeds about the live financial markets. This feature is not mandatory for all brokers, only to those who are using an Electronic Communication Network model. ECN provides traders with a direct access to the market and are able to offer the best deal execution. Order information is shown in real time and execution errors are reduced. Some of the best Forex brokers offer the ECN model.

Broker Customer Service

In this era of advanced technology technical support becomes mandatory when trading Forex. When deciding upon the best Forex brokers, brokers should be kind in helping you when you face issues. Your customer experience should not be terrible. You should have confident that your broker will help when something happens. A good broker will talk to their clients to make sure they are satisfied and issues are resolved.

Forex Trade Transaction Costs

You can compare Forex brokers based on the above mentioned points but it is also important to know what transactional costs and fees they are charging. If it is too high, your profit margin will decrease.

You have to pay fees and commissions on each trade and so it is suggested to opt for the most affordable broker you can that has the features you require. When choosing one of the best Forex brokers in the market. It is strongly recommended to keep a balance between transaction costs and reliability of the broker. Don't fall into the trap of investing with a broker who are offering cheapest rates with a bad or okay reputation.

Deposit-Withdrawal Withdrawing money from your brokerage should be hassle-free and your broker should offer multiple withdrawl methods. Both the deposit and withdrawal should be easy, smooth and speedy. There should be no excuse why your profits cannot be withdrawn. This is one of the main things to consider when comparing Forex brokers.

Forex Order Execution

There should not be a huge pips difference while placing a trade. There should not be any reason why the broker fails to fill your order at your quoted price under normal conditions. Your 'buy' button click should reciprocate your price.

We've collected thousands of datapoints and written a guide to help you find the best Forex Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best forex brokers below. You can go straight to the broker list here.

Trading With Forex Brokers

How do you compare forex brokers? How do you find the best forex broker for you?

Finding the best forex broker will depending on your requirements. Your trading requirements can include the currency pairs you wish to trade the brokers trading platform, withdrawl and funding methods, broker fees and customer supoort.

Is Trading Forex Safe?

When choosing a forex broker like XTB the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to a reputable broker the withdrawl request will be honored. If your forex broker violate any regulatory rules their regulated status could be stripped.

Any payments funded to a regulated forex broker account by traders are held in a segregated bank account.

For added security reputable brokers like XTB use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are trading with your forex broker. One is the real live forex account, with your real money and the other a demo forex account. The demo account allows you to learn and experiment.

Forex Broker Financial Regulation and Supervision in more detail

Check the forex broker you trade with is regulated and supervised by reputable organisations. Regulation gives you some recourse for those who have issues with your broker when trading forex pairs. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect forex traders and provide a safe trading environment.

Has Your Forex Broker Won Awards?

When deciding upon a forex broker, Seeing a history of awards gives you an idea of the brokers strengths. The awards a forex broker has won means that they have recieved an endorsement from that awards organisation. These awards add credibility for that broker.

What are your Forex Broker Fees?

You will need to check there are no hidden fees or surprises with your forex broker.

Check are their any withdrawal fees when withdrawing your money from your forex brokerage account.

Check your forex broker does not charge inactivity fees.

Check your forex broker does not charge deposit fees.

Be aware of what commissions or fees are charged per trade by your forex broker.

Forex Broker Negative Balance Protection

When trading forex using leverage an adverse move could result in losing more than your trading account balance. Your forex broker account balance could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of your account the money in your account.

Does Your Forex Broker Offer Educational Resources?

To trade effectively in forex, it is important to a have a good understanding your forex brokers trading tools and the international forex markets.

Make sure your forex broker offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Take time to look around the various forex broker platforms and train yourself to think more systematically and logically about the forex markets. It's a new skill-set for many, but it is what the market requires of you.

What Level of Customer Support Does your Forex Broker Offer

Its important when you have an issue with your forex broker its important you are able to resolve issues quickly and adequately. Does the broker customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Check if your forex broker offers the below customer support

Livechat Support

Email Support

Phone Support

Minor and Major Forex Currency Pairs

Multiple currencies are traded on the forex market. When traders talk of minor currency pairs they are taking about world currencies which are not paired with the USD (US Dollar) but often include GBP (United Kingdom of Great Britain Pound Sterling). The Yen and Euro currency pairs are also known as minor pairs.

All Minor currency pairs do not contain USD (US Dollar) on either the left (base currency) side or right (quote currency) side of the currency pair. Minor currency pairs are known as Minor pairs because the market share of these currencies is smaller than that of the major currency pairs.

Major currency pairs have the largest market share of world trading volume. Major currency pairs include major currencies and are the most traded currency pairs in forex.

What You Will Need to Open a Forex Broker Account

When you open an account, you'll likely be asked for the following, so it's good to have these handy:

A scanned colour copy of your passport, driving license or national ID

A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

Reputable Forex Brokers Checklist

There are a number of important factors to consider when picking an online Forex trading brokerage.

Check your Forex broker has a history of at least 2 years .

. Check your Forex broker has a reasonable sized customer support of at least 15 .

. Does the Forex broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes. Check your Forex broker has the ability to get deposits and withdrawals processed within 2 to 3 days . This is important when withdrawing funds.

. This is important when withdrawing funds. Does your Forex broker have an international presence in multiple countries . This includes local seminar presentations and training.

. This includes local seminar presentations and training. Make sure your Forex can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Forex Brokers.

We compare these features to make it easier for you to make a more informed choice.

Minimum deposit to open an account.

Available funding methods for the below Forex Brokers.

What you are able to trade with each brokerage.

Trading Platforms offered by these brokers.

Spread type (if applicable) for each brokerage.

Customer support levels offered.

We show if each brokerage offers Micro, Standard, VIP and Islamic accounts.

Top 15 Forex Brokers of 2020 compared

Here are the top Forex Brokers.

Compare Forex Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are forex brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more forex brokers that accept forex clients

All Forex brokers in more detail

You can compare Forex Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Forex Brokers for 2020 article further below. You can see it now by clicking here

We have listed top Forex brokers below.