If you are new to Forex Trading, you might be overwhelmed by the number of Forex and CFD brokers available online. Many of them are scams and you should keep that in mind when searching for the Best Forex Broker. Before you get into your trading strategy, make sure you are registered with a reliable company. That’s why we made it our mission to bring you the very best Forex brokers on the market.
So if you don’t have time to do your own research because you want to trade straight away, you can use the following Forex brokers instead. These top forex brokers were hand-picked by us after conducting careful research and scrutinizing every product and services offered by them. In addition to this, we also looked at various customer reviews before awarding a rating appropriately.
For trading and investing we recommend using regulated brokers only.
AvaTrade - Most Regulated Forex Broker
AvaTrade is an international Forex broker, that is part of the Ava Group of companies. They are one of the oldest CFD brokers, founded in 2006, with offices worldwide. One of the most popular aspects of this broker is the wide selection of automated trading solutions they offer. They are integrated with a variety of service providers like DupliTrade, MQL5 Signals and ZuluTrade, look here.
Of course you will find Crypto Currencies like; Bitcoin, Ethereum, Dash and XRP, signup here.
Choosing the Best Forex Broker – What to Look for
Safety of your funds: When the Forex Broker Expert reviews a new Forex or CFD broker, the best way to know if they are a legitimate broker is by checking for a valid license and the quality of the license. Many legal Forex brokers, are licensed by a local regulator like ASIC in Australia, CySEC in Europe, FCA in the United Kingdom, FSB South Africa or JFSA Japan.
Forex brokers that are regulated in a major hub are always more trustworthy. Brokers in emerging hubs can also be trustworthy, but caution is warranted.
Corporate Information – We look for credible information regarding ownership. Who are the actual owners of this website? Is it possible to know the names of the founding members? Who are the people running this website and why haven’t they posted their actual names? Now you know why you should stay away from this and any other online anonymous platform.
We go further to compare registered companies, addresses and servers to see whether they are linked to any notorious network.
Data Security – Your 3rd consideration in choosing a broker should be data security. To join any Forex platform, you must submit a vast amount of financial and personal information. Some of these documents include copies of your identification, such as passport, bank account details, and so on. A utility bill is also a huge consideration to prove your place of residence. If you get a Forex broker who fails to have reliable internet security, your data could be at risk. Account hacking has been a hotspot for identity theft. Make sure to conduct a thorough review of a broker’s data and firewall security. The best brokers have DDoS protection and SSL Encryption. These brokers also ensure their websites have basic security features to protect against third party attacks. To avoid personal information falling into the wrong hands, go for a broker with two-factor authentication. By doing so, you will get a random security code for every entry.
Double check the authority of the governing body that regulates the broker you are looking at. You can go to the website of the governing body to search for the registration number and verify its legitimacy…