Forex is one of the most liquid financial markets that attract more investors year by year. By 2021, the total daily turnover is equivalent to $6.6 trillion, having grown from $1 trillion twenty years ago. This knowledge makes it one of the most liquid and attractive financial markets with 24/7 availability. For successful Forex trading, a trader needs to choose a “service provider”, namely a brokerage company.
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This choice should be approached thoughtfully and thoroughly. The correctness of this choice in the future will depend on your financial success. During this year we have written many articles in which we paid attention to the specifics of the work of brokerage companies. We worked for this score for a long time and now we would like to bring it to your attention.
RegulationCySec (Cyprus)ASIC (Australia)FCA (United Kingdom)FinCEN (United States)
Trading platformseToro Social Trading Platform
Trading ConditionsMax. Leverage: 1:30Min. Spread: 0.8 pipsCurrency Pairs : 47
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RegulationCySEC (Cyprus)FCA (UK)FSCA (South Africa)FSC (Mauritius)
Trading ConditionsMax. Leverage : Up to 1:2000Min. Spread : 0.1 pipsCurrency Pairs : 63
Trading instrumentsCurrenciesStocksEquity IndicesCommodities
RegulationCySec (Cyprus)ASIC (Australia)FCA (United Kingdom)BaFin (Germany)CNMV (Spain)ACPR (France)AFM (Netherlands)
Trading ConditionsMax. Leverage : Up to 1:888Min. Spread : 0.1 pipsCurrency Pairs : 55+
Trading ConditionsMax. Leverage : Up to 1:100Min. Spread : 0.5 pipsCurrency Pairs : 50
RegulationFCA (UK)ASIC (Australia)FSB (South Africa)FINMA (Switzerland)DFSA (United Arab Emirates)MAS (Singapore)JFSA (Japan)
Trading ConditionsMax. Leverage : Up to 1:200Min. Spread : 0.1 pipsCurrency Pairs : 93
RegulationFCA (UK)ASIC (Australia)
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Trading ConditionsMax. Leverage : Up to 1:500Min. Spread : 0.1 pipsCurrency Pairs : 62
RegulationFSCA (South Africa)FCA (UK)ASIC (Australia)JFSA (Japan)BVIFSC (British Virgin Islands)
Trading ConditionsMax. Leverage : Up to 1:400Min. Spread : 0.7 pipsCurrency Pairs : 60
RegulationNFA (US)FCA (UK)ASIC (Australia)FSA (Japan)IIROC (Canada)CIMA (Cayman Islands)SFC (Hong Kong)MAS (Singapore)
Trading ConditionsMax. Leverage : Up to 1:50Min. Spread : 0.1 pipsCurrency Pairs : 91
Trading ConditionsMax. Leverage : Up to 1:30Min. Spread : 0.1 pipsCurrency Pairs : 34
Trading instrumentsCurrenciesMetalsIndicesStocksETFsEnergiesBondsSoftsInterest Rates
RegulationFSA (Denmark))FCA (UK)FINMA (Switzerland)ASIC (Australia)DFSA (United Arab Emirates)MAS (Singapore)SFC (Hong Kong)JFSA (Japan)
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Trading ConditionsMax. Leverage : Up to 1:200Min. Spread : 0.04 pipsCurrency Pairs : 182
RegulationFCA (UK)KNF (Poland)IFSC (Belize)CNMV (Spain)ACPR (France)BaFin (Germany)
Trading platformsxStation limaxStation Mobile
Trading ConditionsMax. Leverage : Up to 1:200Min. Spread : 0.1 pipsCurrency Pairs : 48
RegulationFCA (UK)ASIC (Australia)IIROC (Canada)FMA (New Zealand)MAS (Singapore)
Trading platformsCFD tradingNext Generation
Trading ConditionsMax. Leverage : Up to 1:500Min. Spread : 0.7 pipsCurrency Pairs : 300
RegulationFINMA (Switzerland)FCMC (Latvia)JFSA (Japan)
Trading ConditionsMax. Leverage : Up to 1:200Min. Spread : 0.1 pipsCurrency Pairs : 50The most common option in choosing Forex broker
Every brokerage company has some criteria and average features to be compared. Let’s take a look at the main of them:
Affordability. Each brokerage company sets its minimum deposit threshold value for funding. Typically, this amount starts at $100. Novice traders must make a balanced decision for themselves on how much they can afford to lose. At the same time, you should pay attention to whether the broker fits for you, or whether you should choose another one that is more suitable, but with a higher minimum level of the first deposit.
Deposits and Withdrawing. This option is no less important than the previous one. You, as a trader, should easily manage your funds and, if necessary, withdraw them quickly and without high commissions. The broker’s money returning duty determines its decency and reliability.
Market coverage. You have to check the availability of trading needed currency pairs.
Trading terms and trading fees. This option is very important because the appetites of forex brokers can vary dozens of times. Before you get started, you should calm down and calculate how much you’ll give to the brokerage company from the moment you start trading until withdrawing your money in a way that is convenient for you.
Trading platforms. There are many of them. They’re a sword and shield of yours. Depends on features that you allow to customize and working speed you’ll be able to experience which one suits you the best. Personal presets are a huge part of your trading success.
Mobile app. A lot of people prefer fully-automated trading robots. Their performance can be checked without a PC. It’s an important option that allows you not to work on a PC and be mobile.
Customer Support. It’s a very important option, especially for beginners, but it’s hard to check it without directly contacting the support.
Reputation. It’s an important part because trading is all about trust. If you see people angry at the company, so, you can entrust your funds and feel that your money is in safety.
Regulation. Before getting started, you have to check how the brokerage company works with your country’s laws. A lot of them have got some restrictions. If you skip this step, you’ll probably be able to fund the account, but you’ll have a huge masalah with withdrawing.
The base of knowledge. The solid brokerage company provides a lot of courses, as well as, literature and material to let you get a smoother start in Forex trading.