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TOP FOREX BROKERS IN THE WORLD
This article will compile a list of best forex brokers for you to quickly decide which forex broker you would like to work with. However, always do your due diligence to ensure you choose a broker that meets your needs.Forex trading is a very lucrative venture when done correctly. Selecting the right forex broker can sometimes be a daunting task, especially for a beginner trader. Even professionals find it difficult sometimes with the high number of forex brokers out there. But, there is still hope.
LIST OF BEST FOREX BROKERS
This is our list of best forex brokers:
Disclaimer: 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 can afford to take the high risk of losing your money.
COMPARISON TABLE OF THE TOP FOREX BROKERS IN THE WORLD
|Forex Broker||Minimum Deposit||Lowest Spread (EURUSD)||Regulation||Maximum Leverage||Sign Up|
|$1||0.3pips||CySEC, FCA||1:2000||Your capital is at risk|
|$10||0.8pips||CySEC, IFSC||1:2000||Your capital is at risk|
|$5||0.1pips||CMA, FCA, FSCA, CySEC||1:400||Your capital is at risk|
|$10||1.5pips||CMA, FSC, FCA, CySEC & FSCA||1:2000||Your capital is at risk|
|$5||0.8pips||ASIC, CySEC||1:1000||Your capital is at risk|
|SKILLING||EUR 100||0.4pips||CySEC, FSA||1:500||Your capital is at risk|
HOW TO SELECT A FOREX BROKER
Key things to consider when choosing the correct forex trading broker:
- Highly regulated forex brokers.
- Multiple Deposit and Withdrawal methods.
- Currencies accepted by the broker.
- Trading fees and commissions.
- Trading Experience.
This is inarguably the most important factor to consider since it involves the protection of your capital. The main regulations that are well-known in the forex market include FSCA, FCA, ASIC, and CySEC. In Kenya, you can also consider your forex broker to be regulated by CMA as an added advantage.
Payment methods are important to evaluate since this ensures ease of transaction between the broker and your accounts. Also, ensure you check the fees involved for every transaction.
One other important factor to consider when choosing the right forex broker. Check on the quality and how fast the support team solves your issues with the broker.
This will entirely be based on your needs. Every broker will have unique features in their platforms. But the most common platform is Metatrader 4 and 5. Check on the tools available for technical analysis.
In this article, we have gone through a list of best forex brokers. I hope this helps in selecting your broker to trade with. We shall update this list as appropriate in the future.