If you’re looking for the best forex brokers to trade with, the first thing you should do is look for those that are regulated in your country. Next, you should read reviews and compare different brokers to see how their platforms and features compare. Another important factor to consider is their spreads. There are three main types of spreads: low, average, and tight.
Besides low spreads, the best forex brokers also offer a variety of tradable instruments, fast and cheap withdrawals, and a wide range of trading tools. XM Group, the daughter company of Trading Point Holding, is a leading global CFD broker with a global footprint. It is also regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CESEC), making it one of the safest trading platforms.
Online reviews are another useful tool when it comes to finding a top forex broker. These reviews are written by real customers of the broker. Traders need to understand the authenticity of these reviews and the testimonials provided by clients. The more time they spend analyzing the qualities of the broker, the higher their chances of choosing a reputable FX broker.
Another important factor to consider when choosing a top forex broker is the amount of leverage that they offer. Most Forex brokers offer up to 10:1 leverage, which is a popular choice amongst experienced Forex traders. However, some of the top Forex brokers offer higher leverage. In fact, some Malaysian forex brokers provide up to 888:1 leverage. In Brazil, 300:1 to 400:1 leverage is required on the Brazilian foreign exchange market.
IG Markets: IG is another top forex broker that provides full access to the currency market and several trading platforms. It also supports trading in almost 90 currency pairs. However, it is important to know that this broker does not take U.S. clients, and therefore requires a minimum deposit of $250 to open a live account. In addition, IG Markets offers free webinars, seminars, and online courses to help traders learn the art of trading.
Plus500: This broker is an online broker that is among the top forex brokers. The company offers an intuitive interface and a demo account that can be used to practice trading. It also offers forex and CFD trading, as well as a limited trading platform for experts. Plus500 is one of the most popular forex brokers in South Africa, and is also well-known in other countries.
Saxo Bank: Among the top forex brokers, Saxo Bank has excellent customer service and an exceptional range of trading tools. The broker offers over 40K trading instruments. Its fees are low and average, but you will need to pay higher fees if you want to trade bonds.