Recommended Forex Brokers - the best Forex brokers
I have traded with numerous brokers since 2011, below are the brokers I recommend and why...
Open a free Forex trading demo account now...
Trustworthy brokers will meet the following criteria...
- Strong regulation (FCA, ASIC, NFA or CySEC)
- Not a market maker (ECN or similar)
- Reliable trading platform
- Reasonable leverage
When choosing a Forex broker, there is a lot to consider...
Having a Forex broker that is well regulated is a top-priority when choosing a Forex broker. The most well-respected financial regulators include the FCA (UK), the ASIC (Australia) and the CFTC or NFA (US).
CySEC (Cyprus) is also a growing financial regulator.
I strongly suggest that you choose a Forex broker that is registered and regulated by at least one of these financial bodies.
Type of Broker
There are many types of Forex brokers... These include market makers, brokers with dealing desks, brokers without dealing desks, STP brokers and ECN brokers.
If you are planning to take trading seriously and invest your own capital, I strongly recommend you open a Forex trading account with a STP or ECN Forex broker. These brokers generally offer a much better trading experience and it is in their best interest that their clients are profitable and regularly trading.
The amount of leverage a Forex broker offers is not essential when comparing Forex brokers, but you do need to ensure that sufficient leverage is offered to enable you to trade multiple positions without going into negative margin or receiving a margin call. A Forex broker that offers leverage from 1:30 upward is recommended.
Most Forex brokers offer MetaTrader 4. This is a reliable platform. cTrader and TradingView are other popular Forex trading platforms.
The Forex broker that I personally trade with is IC Markets. I highly recommend IC Markets.
You can open free unlimited demo accounts with IC Markets. Click here to open a free Forex trading demo account.