These are the best forex brokers today. This interactive brokers comparison table provides details about their minimum deposit, bonus, leverage and spreads. For more details you can consult the detailed review we offer on each of the brokers.
choosing an online forex broker is one of the most important decisions you make as a trader. This decision will influence the money it will cost you to trade but more important it may have a huge influence on the quality of your trading activity. Here are some tips that will help you make the right decision.
Regulation & License
The first and most important parameter to look at is the license. Most legitimate brokers are licensed by Cyprus Securities and Exchange Commission. This is a crucial issue that can reassure you that the broker is legitimate
If you are planning to invest small amounts of money it is crucial to find a broker that accepts smaller deposits. Minimum deposits usually start from €100, but you can find sites that will allow a minimum deposit of as little as €25.
Spread and Leverage
Another important parameter to look at is the cost of your trading activity. Most fx brokers don’t charge transaction fees but earn their money from spreads. Spreads differ between brokers and between the currencies traded. So before you make a decision make sure you check how high is the spread for your favorite currency pairs.
Next you should look at the leverage. The leverage allows you to trade more money than you actually deposited. Some sites offer very high leverage, sometimes up to 400 or even more. Make sure the leverage offered by the site fits your trading needs.
Make sure that the operator offers the currency pair or pairs that you wish to trade.
Interface and Software
The interface of the site is another extremely important parameter. The interface must be intuitive and easy to use, free of bugs that that can slow or interrupt important processes. It's important that you feel comfortable and not be forced to face unnecessary software issues.
The platform should provide supporting tools as well. The best forex brokers provide charts, analysis, articles, news, economic calendars and so on, supporting traders step by step and day by day. It is important that your broker knows how to give you all the information you need while operating on the currency market in real time.
Training Materials and Training
If you are a beginner in the fx world, it is important for you to get training materials, in the form of e-books, video tutorials, articles, and so on. You can find these materials by searching online, but it is best if your foreign exchange broker provides you with these materials and with training sessions with industry experts.
Payments and Customer Service
The operator you choose should accept your preferred method of payment, whether it is credit card, bank transfer, Paypal or Neteller.
The customer service is also extremely important. Try to choose an operator that offers its customer service during all trading hours and in various channels like phone, email and live chat. It is also important that the assistance will be offered in your language.
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Please be aware that trading the financial markets is one of the riskiest investment forms possible and may result in substantial losses.