Forex Broker Expert has one thing in mind to educate traders on how the can ultimately make profits by using trustworthy and transparent Forex and CFD brokers in accordance with the strictest rules and regulations.
Top Rated Forex Brokers
| Broker | Minimum Deposit | Regulation | |
|---|---|---|---|
 | $100 | Central Bank of Ireland, ASIC, JFSA, IIROC, FSB, FSCA, BVI |  |
 | $10 | FCA, CySEC | |
 | $200 | ASIC, CIMA | |
 | $100 | ASIC, CySEC | |
 | $100 | CySEC, US NFA, FSC | |
 | $250 | N/A | |
 | $250 | ASIC, CySEC, VFSC | |
What is a Forex Broker?
A forex broker works as an intermediary between you and the interbank system. If you don’t know what the interbank is, it’s a term that refers to networks of banks that trade with each other.
Typically Forex brokers will offer you a price from the banks of which they have lines of credit and access to forex liquidity. Many forex brokers use multiple banks for pricing, and they’ll offer you the best one available.
Forex Broker Account
Opening a Forex trading account with a Forex broker is easier than ever before, because everything can be done online and automated. Be prepared to provide personal information so the Forex broker can verify your identity. You may also need to make an initial deposit or arrange for electronic deposits to your new account. Gather the following items before you start the process:
Personal Information
You need to tell the broker who you are and provide personal details about yourself. So be prepared to give:
- Your Social Security Number, Tax ID Number, or equivalent
- Date of birth
- Any government-issued ID (driver’s license, passport, U.S. military ID, etc.) numbers, with the issue and expiration dates
Contact Information
Forex Brokers need your home address, phone number, and email address. Even though you’re operating in the virtual world, federal law requires you provide a physical address—where you actually live—but you can also give a P.O. Box or the equivalent as a mailing address.
Funding Account
How will you add funds to the account? Forex brokers often require an initial deposit to get your account activated and start trading (standard is between $250 and $500). To do that, you might be able to use your credit or debit card. Alternatively, you can provide routing and account numbers to create a link to a bank account.
With some Forex brokers, you’re done opening your account once you provide that information. You sign any legal agreements with an e-signature, and can start using the account almost immediately. Even small Forex brokers and banking firms accept e-signatures. If you have an idea of where you’d like to trade currency pairs, simply visit that institution’s website and look for an option to “Open an Account Now.”
Other Forex brokers let you begin your application online, but eventually require a signature. In such situations, you typically get a “Welcome Kit” in the mail containing any required documents, including a formal signature card. Although paper-check-writing is on the decline, these brokers still like your file to contain an official signature to verify a check or debit card purchase in the event of a dispute.
Forex brokers provides benefits to currency traders. These include 24/5 market, high liquidity, low transaction cost. Also ability to use leverages, plus you can go high or low on any market.trading
High Liquidity Providers
Their are a number of currency pairs to choose from when trading Forex with a broker. These include 4 major currency pairs ( EUR/USD, USD/JPY, GBP/USD, USD/CHF) and 3 minor currency pairs (AUD/USD, USD/CAD, NZD/USD).
In addition to this, there are exotic pairs, which is a major currency, paired alongside the currency of an emerging economy, such as the Mexican Peso, Hong Kong dollar, and many currencies from countries outside the Euro area.
A Forex Broker allows a trader to buy one currency by using another. Therefore, the FX trader is given the opportunity to trade currency pairs and not each currency individually. Take for example the EURUSD, when buying the pair – it means you are buying EUR using (selling) USD. When selling the pair – it means you are buying USD using (selling) EUR.
Live Forex Quotes and Rates
Forex Brokers quote prices as a relative value of one currency in terms of another currency. The currency that is used as a reference is the “quote currency,” while the one quoted in relation to that currency is the “base currency.”
So, for instance, we have the EUR/USD (euro versus US dollar) pair. Here, EUR is the base currency, while USD is the quote. A EUR/USD rate of 1.2100 means that €1 is equivalent to US$1.2100.
Forex Trading Charts
Forex Brokers offer comprehensive charting systems that tracks the movements of thousands of currency pairs in the global Forex market. These charting systems are available in a variety of forms. These include candlestick, bar charts, line chart.
Candlestick Chart
Candlestick charts show the same price information as a bar chart, but in a prettier, graphic format.
This Charting system still indicate the high-to-low range with a vertical line.
However, in candlestick charting, the larger block (or body) in the middle indicates the range between the opening and closing prices.
Traditionally, if the block in the middle is filled or colored in, then the currency pair closed lower than it opened.
If the closing price is higher than the opening price, then the block in the middle will be “white” or hollow or unfilled.
Bar Chart
A bar chart is a little more complex. It shows the opening and closing prices, as well as the highs and lows.
The bottom of the vertical bar indicates the lowest traded price for that time period, while the top of the bar indicates the highest price paid.
The vertical bar itself indicates the currency pair’s trading range as a whole.
The horizontal hash on the left side of the bar is the opening price, and the right-side horizontal hash is the closing price.
Line Charts
A simple line chart draws a line from one closing price to the next closing price.
When strung together with a line, we can see the general price movement of a currency pair over a period of time.
Leverages
Forex Brokers allows traders to trade in the market using more money than what they have in their account.
For example, if you were trading 2:1, you could have a $1,000 deposit in your brokerage account, and yet control and trade $2,000 of currency on the market. Many Forex brokers offer as much as 50:1 leverage. This can be dangerous. New traders tend to jump in and start trading with that 50:1 leverage immediately without being prepared for the consequences.
Trading with leverage sounds like a really good time. It’s true that it can increase how easily you can make money. But the thing that is less talked about is it also increases your risk for losses.
If a trader with $1,000 in their account is trading with 50:1, this means they would be trading $50,000 on the market, with each pip being worth around $5. Assuming the average daily move of a currency pair’s price is 70 to 100 pips, in a day your average loss could be around $350. If you made a really bad trade, you could lose your entire account in three days, and of course, that is assuming that conditions are normal.
Automated Trading
For those of you who are not fully aware, automated Forex trading (also referred to as algorithmic trading) is the use of Forex auto trading platforms, which are of electronic nature, in order to enter trading orders with an algorithm. This type of platform is able to execute pre-programmed trading instructions whose variables might include initiation of an order by a robot that is controlled by human, price, or timing. Automated Forex option trading is utilized a lot, to divide large trades into several smaller trades to be able to manage market risk and impact, by mutual funds, pension funds, investment banks, and other institutional traders.
Forex Broker Expert
ForexBrokerExpert.com has the best selection of Forex Brokers that are currently being the talk of the town for the numerous of positive reviews and 5-star ratings that they have received ever since they were introduced on the market. We are always on the lookout to bringing you the best Forex Broker recommendations so that all of your investments can have positive outcomes. The brokers that we recommend are considered breakthroughs on the market for Forex trading. For an experienced trader, one of the biggest benefits of these broker is that they offer tight spreads, fast execution and a team of experts on call around the clock. When it comes to new Forex traders that have not yet mastered the task of adequately reading graphs and charts, Forex brokers can help them with comprehensive education, demo account with virtual funds.
There is no doubt that the market offers many investment opportunities, but in order to receive a good return on the capital you opt to invest, you must know how to invest adequately and maintain control of operations. A successful investor devotes many hours to their investments. It is best to hunt for the best opportunities and even anticipate events that can incur in losses.
Over the past decade, forex trading platform technology has continued to evolve steadily across devices, with a shift from desktop to web and then to mobile. With ongoing enhancements to the user experience throughout the year, forex brokers compete for market share amid shifting regulations and the evolving needs of traders.
Whether you’re new to the markets or just looking to brush up on your skills, we offer a range of resources to help you find opportunities – and take your trading to the next level.
Discover a range of over 16,000 markets, with more added all the time.
CFDs come with a unique set of risks. You can take control of these using our risk management tools, and ensure you’re well-informed with our range of educational resources.
Inform your decisions with timely dispatches from large team of global analysts. Stay updated while trading, with in-platform feeds and signals.
- Trade CFDs on FX, commodities, indices, cryptocurrenceis and more and take advantage of both rising and falling prices.
- Fast, easy-to-use web platform
- Apps optimised for all devices
- Full suite of alerts and risk management tools
- Advanced platforms and charting – MT4/MT5
- Round-the-clock support
Trade quickly and smoothly, with technology designed to ensure that your trade goes through.
Metatrader is one of the most widely used trading platform on the market. It features nearly 100 in build market indicators, advanced set of charting tools and customizable trading robots, which can help you run automated trading sessions.
Regulation and Licensing
Both the FCA and the CySEC are considered as financial regulators with a good reputation. Forex Brokers who operate under them are expected to meet tight operational standards. One of the main requirements that these regulators want is that Forex brokers should keep the funds of their clients in segregated accounts. Moreover, Forex brokers who apply to be regulated must hold a minimum of at least €730 000 in order to be considered stable financially. That means that Forex brokers who are not serious or those who are likely to scam will never bother to approach the financial regulators. They know they can’t qualify. Moreover, scammers generally hate anything to do with regulations. Some of the best Forex brokers who have attained the regulatory requirements of these financial regulators can be found here.
CySEC has similar regulations where they insist that Forex investment platforms must be able to afford at least €1 million in operation capital. In addition to this, both the FCA and the CySEC have a compensation scheme where they require brokers to compensate each trader a sum of at least £50,000. On top of this, CySEC has a rule where brokers are required to be part of a compensation fund that can cover traders up to the sum of 20,000 EUR in case the broker becomes insolvent.
Take Advantage Now
A lot of the brokers that we recommend are leaders in Forex trading. They offer an easy-to-use platform, expert trade ideas and efficient support.. Besides promising the best platforms, they are fully compliant with the authorities and some of them allow users to open a free account to start investing immediately. Free registration may change in the future, so if you are thinking of opening your account at one of these platforms, it is best to register early to take advantage of this feature.
Broker Minimum Deposit Regulation
$100 Central Bank of Ireland, ASIC, JFSA, IIROC, FSB, FSCA, BVI
$10 FCA, CySEC
$200 ASIC, CIMA
$100 ASIC, CySEC
$100 CySEC, US NFA, FSC
$250 N/A
$250 ASIC, CySEC, VFSC
Brokers Have Been Tested
All the Forex brokers that we mention on forexbrokerexpert.com have been tested so that you don’t waste your time on online Forex brokers that are not worth your precious time. The fees of the brokers vary (majority of them do not charge commissions) but that doesn’t mean that some are better than others. The only difference among them is their features, but a lot of them do what they were designed to do, which is to serve you and thus help you become successful in your own right on the market.
Owned by Experts in the Currency Market Field
The Forex brokers mentioned on forexbrokerexpert.com owned and operated by experts in the market field who know everything that there is to know on how a platform can benefit you. These experts know that time is very valuable in trading, so they made sure to design platforms that gets straight to the point and that is very easy to utilize.
Select Your Preferred Asset Types
The platforms of these Forex brokers offer investors a wide range of assets across the global Forex market. Since the brokers are middle men based on inter bank price data they provide, the platform helps users to invest in assets that they would not choose without this information. The Forex brokers are accessible 24 hours a day so you can invest where it’s most convenient for you. All you have to do is to select the asset type and the broker will deliver live price feeds for you.
First Class Operation
Countless of individuals from around the globe have already put these Forex brokers to the test and have been pleased with the results that they have attained from utilizing them. They have been so pleased that they have kept on using them and have referred them to their friends who are also investing on the market. These Forex brokers have not only been utilized by individuals investors, but they have also been utilized by institutions. They are as first class as it gets.
Easy Operating Structures
There are a couple of Forex brokers that are out there that have received mixed reviews and ratings due to their lack of features and for their difficult operating structure. The online Forex trading platforms that we recommend are currently on the best-selling lists due to their easy structure, which helps those individuals who are new in the market field succeed in great measure, and for the features that just make the whole trading experience much more pleasant.
Improving Profitability
The Forex brokers on this online site provide an excellent framework for investing in Forex and CFD trading, it provides investors with a simple and efficient system while offering a wide range of global assets, so that investors can improve their profitability using this type of software trading.
Choosing The Best Forex Broker
If you are serious about becoming or remaining successful on the market, don’t forget to add forexbrokerexpert.com to your list of favorite websites. This site frequently gets updated, as we are always searching for new information in order for you to be well-informed of everything that is occurring so that you can know what cards to play.
We offer a wide range of online Forex brokers on this site that have been put to the test by us to help you choose the one that goes hand in hand with your needs and wants. So, choose any of them, according to your taste as most of them give the same range of features.
Licensing and Regulation Benefits
You may have seen Forex brokers that have companies based in Belize, Estonia, Dominican city and so on. They have licenses from the financial services commission in their countries and seems to be targeting specific traders either from Hong Kong, Germany, Switzerland, Spain and UK. Some are totally anonymous and we have seen a lot of them claiming legitimacy from Danish, Dubai, Saudi Arabia, British Virgin Island, South Africa and their license is better than nothing. It is better than saying that these brokers are internationally registered companies since this alone does not add any form of credibility on their sites. However, it remains a fact that most unregulated brokers are involved in some sort of investment scam, and those operating anonymously are 99.99% fraudsters. These fact cannot be ignored.
Methods of payment
Most professional Forex brokers have a wide range of choices for their customers. They accept bank wire in addition to master card, visa, e-wallets such as skrill, neteller and many more. This is to ensure that there is always a variety for traders who want to deposit in one form or the other. Not every trader is comfortable with bank wire. So this may be one reason why many traders will want to use one of the best brokers because the provide alternatives to wire deposits.
Trading on good old MetaTrader4 Platform
Top Forex brokers run the popular MetaTrader4 trading platform which can be downloaded on desktop or accessed through mobile devices. This software is considered the most preferred and reliable trading platform, which is why nearly all Forex and CFDs brokers are supporting it at the moment. The reason why MetaTrader4 is loved is that it comes with a solid charting tool, compatibility with many indicators including in built indicators that traders don’t have to pay for, extensive back testing environment and compatibility with all kinds of expert advisors for trading. In that sense, you cannot say that this platform is lacking in anything. Apart from these features, traders can also create their own MQL programming language.
Up to 1:200 in leverage, wide range of trade able assets
Another possible benefit of the best Forex broker is the leverage of up to 1:200 these Forex brokers provide. Such ratios will be sufficient for most traders and are yet not dangerously high. Keep in mind that the leverage available to retail traders is capped in a lot of jurisdictions due to investor protection concerns – in the USA, Japan and throughout the EU. Furthermore, these brokers product portfolio is quite rich and diversified. Clients of these brokers are able to trade in many forex pairs and various CFDs, including wide range of cryptocurrencies.
Low minimum deposit
That is another positive point. Have in mind that most experienced Forex brokers require an initial deposit between 100 USD and 250 USD, but some well established names like IQOption have a minimum deposit as low as $10.
Competitive Spread
Trading with a broker shouldn’t be a costly affair. Wide spreads means you are paying more, and it is affecting your profitability in one way or the other. The industry’s going rate is quite low and affordable. Top Forex brokers offer typical spreads within the range of 1.0 – 1.5 pips on EURUSD for standard and classic account.
Forex Trading : A Convenient Way To Invest At All Times
- Forex trading online means you are free to trade anywhere in the world, provided of course you have a reliable internet connection
- Low charges and fees, compared with trading stocks and commodities
- There are fewer currency pairs to concentrate on, than the large numbers of stocks and shares
- Access is easy and usually only requires a couple of hundred dollars to get started
- Opening hours are Sunday 5pm EST, to Friday 4pm EST, which means you can trade whenever you want
- Forex is a volatile market, and traders have the opportunity to make a profit whether the market is rising or falling
FOREX BROKER EXPERT IS AT YOUR SERVICE
Here at Forex Broker Expert, we’re dedicated to helping you get started trading online and have your own forex account. Most importantly, we want to help you make a success of it. Since starting up in 2010, we’ve connected hundreds of thousands of readers to the right forex trading platform for their needs.
We do this through conducting our own research. We’re constantly testing (and re-testing) the most popular forex brokers on the market to give you completely impartial advice about every single broker we feature on our site. We even get people just like you to give them a go and give us their feedback.
Our aim is to provide you with the very best information so you can make an informed decision about which forex broker is best for you – and feel happy with your choice!