Best Forex Brokers
Best Forex Trading Platforms in September, 2021
With over 100 forex brokers in the market, choosing the best forex trading platform can be confusing. This brokerage review summarizes our experience with some of the most popular forex brokers and ranks them according to the essential criteria.
| Online Brokers | Trading Platform | Open Account | ||
|---|---|---|---|---|
AvaTrade | Trading App, MT4, MT5, Web Trader, AvaOptions | Open Account | ||
| 2006 | 20% Bonus | Trading App, MT4, MT5, Web Trader, AvaOptions | ||
Trade Nation | MetaTrader 4 | Open Account | ||
| 2010 | Spreads from $0 | ASIC | ||
Pepperstone | MT4, MT5, Web Trader | Open Account | ||
| 2010 | Best in UK | MT4, MT5, Web Trader – CYSEC, BAFIN, CMA, SCB, DFSA, ASIC, FCA | ||
FP Markets | Iress, MetaTrader | Open Account | ||
| 2005 | 0.0 Pips | ASIC, CySEC | ||
eToro | Trading App, MT4, MT5, Web Trader, Copy Trader | Open Account | ||
| 2007 | Best for Copy Trading | NFA, CySEC, ASIC, CFTC, MiFID, FCA | ||
FXCM | MT4, MT5, Web Trader | Open Account | ||
| 1999 | $0 Rollover Fees | FCA, ASIC, SFC, CONSOB, BaFin, ACP | ||
Best Forex Platforms For Beginners
What are the best forex trading platforms for beginners?
Several factors make a good forex trading platform.
A decent Forex trading platform provides you with the tools and technology to buy, sell, and manage over 500,000 currency pairs or other contracts of varied sizes in major currencies worldwide. The Fx trading platform offers its users a platform that facilitates live trading and automated trading. It is often fast and offers easy access to market information and essential indicators.
There are three main types of forex trading platforms: high-end, middle-end, and essential. The high-end platforms offer professional services and are designed for experienced traders. The middle-end media are more broadly accessible and aimed at traders who want less programming-intensive but still provide powerful analytical tools and risk management capabilities.
If you are unsure which forex platform works for you, it’s best to start with a demo account on one of these best forex brokers.
We’ve evaluated 1800 best forex trading platforms to finalize this top 100 forex brokers list and excluded all other forex scams. This hand-picked top 10 forex brokers list helps you compare the best fx trading platforms & have access to a reliable source to open the best brokerage accounts.
When our editorial team reviews any forex brokerage company globally, we always look for factors that can make a difference in the forex trading experience of beginners and professional traders. These factors include:
- How much are forex Trading Fees?
- What are the best currency pairs that top brokers offer?
- What are the Best Forex indicators EAs?
- Do all brokers allow EAs?
- Can I use EA Robo Advisors when trading forex?
- What charting tools do they offer?
- How easy is it to add funds and withdraw money from the best forex brokers?
- How much deposit fees do they charge?
- How long does it take to withdraw money from forex brokers?
- What best brokerage accounts do brokers offer?
- What forex account types can I open with brokers?
- What are the best online trading platforms?
- What is the best forex trading app?
- What is the best brokerage app?
- Is their support team responsive and helpful?
- Is the brokerage company regulated?
- And many more factors.
This is the best trading platform list that gives you access to the best forex brokers this year to confidently open a demo account or a real live trading account and trade forex in no time.
85% of successful forex traders have opened the best brokerage accounts on one of the world's top 10 best forex brokers. We published this review to help you feel more confident when choosing your trading platforms.
Best Low Spread Brokers
What forex brokers offer low spread trading?
Some brokers offer discounts so great that you can save 100% or more. These brokers have figured out how to provide the best deals to their clients throughout the entire financial year. Generally, there are three types of spreads: The first is the traditional spread between the top and bottom of the market. This is what most people will be used to seeing when they sit at the bank and check their balance.
There are numerous factors to take into account when choosing a low spreads broker. The first and most important is reputation. Are they well known and trusted? Have they been around for a long time? If your authority or reputation is relatively new, it may be a little easier to find low spreads brokers.
However, finding lower spreads brokers may become more difficult if you have been around for a while and are well known and trusted. If you find yourself on the trading side of things, you might be wondering how you can improve your trading platform. The first thing you should look at is how much you are willing to put into the markets. Here we will explain how much is too much and how to choose a low spreads broker.
Low Spreads Forex Brokers are designed to help you make the most out of your trades by giving you access to the market at the best possible time and cost.
Are Low Spread Brokers the right choice for you? This guide covers every factor that makes a forex broker great, including spreads, regulatory compliance, and execution speed.
If you are looking for the top 10 forex brokers globally that charge no commission, AvaTrade could be a good choice. The broker does not charge a commission, and all fees that you might pay are meager.
We have explained how forex brokers make money, yet when it comes to how AvaTrade makes money, the answer is obvious: Charging spreads.
To deposit funds to your account or withdraw funds from your profits, you need to choose a payment method that suits your need. AvaTrade offers different payment options. AvaTrade is among forex brokers that accept PayPal for deposit and withdrawal.
Other alternative payment methods for this top forex brokers list, especially Ava Trade, are Credit card, Wire transfer (NatWest, Barclays, UniCredit), Neteller, Webmoney, and 20 more payments options are available.
Forex trading Fees
What are the best low cost forex brokers?
In a nutshell, the fees associated with forex trading are based on the exchange rate used to determine the cost of a stock or commodity contract. This exchange rate is constantly changing, and it’s hard to predict how much it will be all year long. Therefore, you’ll want to keep an eye on how the rates are changing throughout the day so that you aren’t charged exorbitant amounts just because an item was sold at a specific price the previous day.
It all comes down to what you’re willing to pay for trading in highly volatile markets. While many people understand that it’s necessary to put money into foreign currency accounts when investing, few realize how much these accounts increase their profits – and how much money they lose.
The most considerable fee associated with forex involves currency exchanges, which occur every day on the global market.
This fee is called a spreads fee. It will vary depending on the kind of currency you’re buying or selling and whether you’re using an automated or manually executed setup.
Top 10 Best Low Commissions Brokers
What forex brokers charge lowest commission?
Having a trading account with zero commissions means you will not pay any retail pricing commissions when using any brokerage company. Zero commissions mean no hidden costs and minimum dollar limits on what you can earn.
Have you ever wondered which currency brokers offer the best rewards and commissions? Zero commissions mean that the broker receives money from alternative revenue streams without charging you a single penny. Most brokers offer various services, including unit trust, margin trading, stock trading, digital currency exchange, and many others.
Let’s compare the forex fees of three brokers.
| Forex Scenario | AvaTrade | XM | Plus500 |
|---|---|---|---|
| EURUSD | 19.2 | 17.1 | 17.2 |
| GBPUSD | 15.7 | 13.8 | 14 |
| AUDUSD | 12 | 13.9 | 12.6 |
| EURCHF | 8.5 | 9.1 | 9 |
| EURGBP | 14 | 12.2 | 12.6 |
“Illustrative prices”
Cheapest Forex Brokers
What is the cheapest forex broker?
When looking for the cheapest forex brokers, you want to ensure you are getting the best deal. When comparing brokers, always look at their overall price and ask yourself if these rates are competitive. Make sure you review their hidden fees too.
If you want to trade different currencies against each other and speculate USD position against other currencies such as GBPAUD, JPY or GBP, Euro, etc., you need to choose a regulated for your forex trading journey or spread betting strategy.
Unlike trading stock in exchange markets limited to market opening time, forex trading forex is open 24 hours a day, except on the weekends. AvaTrade is one of the cheapest brokers in the forex market.
AvaTrade’s portfolio is limited to CFD & Forex CFDs, which means no real assets or shares are available yet. One big advantage for crypto traders is that AvaTrade offers a crypto trading platform versus fiat currencies.
The bad news for professionals is that you won’t be able to change the leverage level. We thought this is a negative point.
AvaTrade App is one of the best commission-free brokers platforms. You can also use it to trade CFDs such as commodities, ETF, Stock index CFDs, and more. If you are interested in stocks and CFD trading, you should see our comprehensive list and see the best CFD broker list.
AvaTrade Accounts: You can open your demo account and live account in a few minutes. If you planned to go for options trading, you might want to open an options trading account to see their competitive price list.
As a Forex trader, you can open a demo account on AvaTrade, which is great for beginners to practice and learn how to trade forex.
If you are a professional trader, you can switch to AvaTrade, open a live trading account, and deposit $100 to get on board with the best trading platform.
You have just read How to Open a Forex Demo Account in 5 minutes on your mobile. If you wonder where and how to open a demo account, check the full review on each fx broker.
Like eToro, AvaTrade also allows social trading. That means you can follow an experienced trader’s history and follow their portfolio. To make this happen, Avatrade is using DupliTrade and ZuluTrade.
Best Forex Trading App
What is the Best Forex Trading Apps
Forex trading apps have gained popularity in recent years because of their ability to accurately and efficiently trade. You can use these trading apps to safely and quickly purchase stocks or derivatives with a click of a button. Several regulated brokers offer trading apps.
AvaTrade offers one of the best forex trading platforms and forex trading apps. AvaTrade’s trading platforms provide enough features to beginners and professional traders.
Like other MetaTrader 4 brokers, AvaTrade is also using MT4 as a default platform for currency trading. Since it is known to all traders, you can easily get on board.
You can trade on all three forex trading platforms:
AvaTrade also uses a web trading platform is powered by “Web Trader,” which is good for those who don’t want to install anything on their system.
The desktop trading is available for windows and Mac users too.
“AvaTradeGO” is the broker’s mobile trading App for smartphones: Android and IOS. The platform is user-friendly and easy to use. Let’s have a look:
“Market Trends” is one of the features in AvaOptions that helps you monitor the market in real-time.
Best Forex Brokers UK
What is the top 10 best forex broker in UK?
The UK is one of the largest countries in the world, and therefore home to some of the biggest and best Forex companies in the world. If you want to learn how to trade on the UK’s leading forex platforms, this section should be sufficient. We look at some of the most reputable UK Forex brokers and offer an in-depth analysis of how they operate.
One of the other reasons AvaTrade made it to the list of best forex brokers is their genuine forex bonus. AvaTrade, as a trusted forex platform, offers up to a 20% welcome bonus to new traders.
As for regulation & licensing, the trading platform is regulated in the following jurisdictions:
- As one of the best Forex brokers in Australia. In Australia, it is regulated by the Australian Securities and Investments Commission (ASIC)
- As one of the best Forex brokers in South Africa, (FSCA), known as the Financial Sector Conduct Authority, oversees their activities.
- In Japan, they are governed by both (FSA), the financial service agency, and (FFAJ) Financial Futures Association of Japan.
- As one of the best forex trading platform UK and Ireland, The Central bank of Ireland is in charge of its financial activities.
- B.V.I from the British Virgin Islands
As one of the best Forex brokers in the UK, AvaTrade offers investor protection. If you are an EU Citizen, then their policy of protection up to €20,000 can apply to you.
Should I choose a dealing-desk or agency broker?
What is Dealing Desk? What isAgency Broker? What is DMA?
Takeaway: We’re using the term trading platform to cover both DMA and agency brokers loosely, below are ways they differ from each other.
Section 1 (DMA): A broker that arranges trades between a marketplace and its clients directly
Section 2 (agency): A broker that acts as an agent to buy and sell securities on behalf of a client.
Section 3 (dealing desk): A broker that provides clients with pricing, liquidity, and order execution but doesn’t take possession of
DMA means Market Maker. It’s a type of order execution where a stockbroker acts as the agent to buy and sell securities on behalf of a client. Similarly, an agency broker is more like a middleman. They buy and sell stocks on behalf of clients.
You will find many opinions online about what makes an ideal trading platform. Rather than offer our own, we’ll let you judge for yourself based on your requirements.
The best thing about trading platforms is that you don’t need to worry about the technology behind the scenes. You can get started today.
Best Forex Indicators
What is the best Forex Robo Advisor?
When it comes to fore market research, using analytical tools, and technical analysis, AvaTrade offers decent tools and services. We can not say it’s the best broker for research, but the quality of services is just above the average.
A price indicator helps you assess the current value of a currency. Many forex traders buy and sell currency pairs using the most popular online calculators that provide the data needed to perform such conversions. When you use a forex indicator, you don’t have to factor in changes in the value of any currency pair directly. For example, if you have one set of values for the Euro but another for the Japanese Yen, an efficient way to react to sterling/yen exchange rate discrepancies would be to use the Japanese Yen indicator.
For instance, you can use all major charts when conducting technical analysis for your preferred currency pairs. That means you will have access to historical data to manage your position and decide whether you want to go short or long; Good news is that it’s all doable with AvaOption & MT4.
Some trends and charts that you can access are
- Short Term Trends and average movements
- Intermediate and Long Term positions
When working with charting features, you can use up to 90 Indicators.
Finally, an economic calendar is available and updated regularly.
Best High Leverage Forex Brokers
What Broker Allows High Leverage Trading?
Some of the best online brokers allow high leverage trading, which means you can buy or sell overvalued securities (overbilled) but not yet sold. Leverage is the ability to quickly buy or sell stakes with little or no time commitment. This is particularly useful in volatile markets or situations where it is difficult to close out bad positions quickly. In markets heavily driven by leverage, you should be wise to buy low and sell high at any given time without being active in other markets.
When it comes to high leverage trading, the basics of investment strategy don’t change. However, many brokers are out there with very different service levels, fees, and customer support.
In general, high leverage trading involves borrowing money from a broker to profit greater than the amount borrowed. It involves taking positions in securities to earn more money than you put in. Borrowers are often traders, lenders, or investors.
The High leverage trading platform offers scalping, day trading, arbitraging, and investors or traders using long-term investment strategies.
Risks of High Leverage Brokers
When using a high leverage trading platform, you’re likely to encounter serious risks. Before pressing the “buy” trade button, always be sure you know what you’re dealing with. Instead of being limited by the maximum leverage limits imposed on you by your broker, you can do high leverage trading with a forex broker that offers high leverage.
Before you begin, it’s essential to know that high leverage trading platforms are not for the faint of heart. These platforms have serious risks and should be handled with care. Only a few educated individuals understand how they work and enter a trade at their own risk with ample guidance on the associated risks.
When using a high leverage trading platform, you’re likely to encounter serious risks. Before pressing the “buy” trade button, always be sure you know what you’re dealing with. Provided with the best forex high leverage brokers, we provide detailed comparisons so you can choose the best one for your trading.
What is the best low fees forex broker?
AvaTrade is one of the best low fees brokers for beginners. It is also listed among the top Forex Brokers With High Leverage.
Apart from trading platforms and tools, AvaTrade educational materials are perfect for beginners.
In fact, providing good educational materials is one of their customer acquisition strategies for attracting new traders or encouraging other traders to switch to their brokerage company.
As one of the top 10 forex trading platforms, their tutorial and how-to guides are very high quality and pretty comprehensive.
One other advantage that you get is having access to SharpTrader, a learning management system that provides you with around 200 articles and trading videos on how to trade and enhance your trading experience.
Best Low fees Forex Trading Platform
What is the best low fees forex platform?
AvaTrade is not just the best uk forex broker, South Africa or Australia. It’s a reputable brand among traders.
We believe AvaTrade Forex Products are worth giving a shot.
It’s not just because AvaTrade is a safe and regulated broker in most financial markets. In fact, when considering their pretty low forex fees, you might find it as a good forex broker to open your account. Remember, if you stay inactive for a year, you might charge $50 for Inactivity.
Customer service response time is short, and they quickly answer your phone calls or live chat sessions. The negative side is not having a 24/7 support process (So don’t count on weekends).
Opening a demo account is literally instant, and switching to a live account can be done in one, or max, three days. Remember, the minimum deposit is $100.
Best Expert Advisor EA
What is the best EA for automated trading?
Choose the trading platform that aligns with your goals and style. Then find out which expert advisor fits best.
No more missing out on the trades that could have easily turned you into a millionaire. That’s why we created this EA. It works in harmony with our trading platform so that even beginners can excel at the marketplaces.
An expert advisor is software developed in your language of choice that can make automated trades. It’s a powerful automated tool that helps to increase profits or hedge against risk.
Finding the perfect trading platform can be tricky, especially if you don’t know what to look for. Here’s how to make sure your new platform is the right fit for you and your EA.
When you create an expert advisor, the trading platform you use makes all the difference. Most brokers claim that these tools are designed to make it easy for you to get started on your path to success. Let us take you through some of the most popular platforms and show you why ours is by far the best.
Best forex signals for Volatile markets
Is it safe to use forex signals?
If you are looking for forex signals, especially free forex signals, Trade Nation is among the best forex trading platforms that provide you with free access to their Signal Centre.
Forex signal center is an FCA-regulated signal provider that generates trading signals for various markets, including indices, currencies, and commodities. https://tradenation.com/trading-signals
- Trading Community
Trade Nation offers various news and analysis articles covering a range of topics posted multiple times a week. The broker’s YouTube channel is also updated daily with trading insight videos and market updates.
Trade Nation focuses on trading news and articles covering a range of topics. They publish a new piece every few days. The topics can be filtered by various categories such as Market Snapshot, Premium Content, Market Updates, Insider the Broker, and more. Articles can also be selected based on trading level – beginner, intermediate and advanced.
- My SMART News
Free to all funded account holders, my SMART news is an alternative data source that pulls in all relevant news and can then be filtered down into just the news you are interested in viewing.
- Trade Nation Education for Forex Trader
If you are new to forex trading or even a veteran trader, trade nation offers a decent pool of educational resources. You can easily get started with their beginner guides on trading and move all the way to spread trading and advanced forex trading. Each of these topics is covered in detail, and there are also examples of CFD trading, spread trading, and FX trading.
What Trading Instruments can you trade on Trade Nation?
Trade Nation offers clients the ability to trade on more than 2,500+ financial instruments. Here is a simple breakdown:
- Currency Pairs: 40+
- Indices: 20+
- Stocks: 2000+
- Commodities: 10+
- Bond: 3
- Futures: 10+
- Differentials: 5+
You can choose to trade currencies or even buy shared and trade Indices, Stocks, or Commodities and Bonds on their MT4 platform.
To have an idea about what you can trade, you may refer to these:
Forex offerings:
USDJPY, EURUSD, GBPUSD, AUDJPY, USDCAD, EURJPY, NZDUSD, EUR/NZD, GBP/CHF
Commodities:
Brent Crude, Gold, Indices, DAX 30 Bonds, WTI Oil, S&P 500, Dow Jones 30, FTSE 100, Silver
Shares:
Netflix, Microsoft, Visa, BOBL, Bunds, Adidas, UK Long Gilt, Amazon
What is Trade Nation Fees?
TN offers a simple and transparent fee structure.
When looking for a top forex brokers review, we must think of spreads and trading fees as a critical factors to choose the best forex platform. When it comes to Trade Nation, you may come across these fees:
- Spreads
- Commissions
- Overnight financing (swaps)
The fees that they charge are quite low. For instance, the spread fees on their proprietary platform are low and fixed.
We found trade nation’s fees very competitive when comparing forex brokers. At the time of this review, the below table showed the fixed spreads taken from a variety of markets:
- UK 100: 0.4
- EUR/USD: 0.6
- Gold: 0.4
- Bund: 0.02
All are Fixed Spread
Fees vary by asset type, but spreads are fixed for complete transparency and low-cost trading.
TN applies a commission charge on ASX stock trades only and FX trades via their MT4 platform.
TN does not charge any inactivity account fees.
Best Copy Trading Broker
What is the Best Copy Trading Broker?
As a beginner, you might want to learn the tips and tricks of currency trading. Find out which currencies have a higher chance of making a solid profit. You can invest in a PAMM account or find a copy trader on eToro and follow their portfolio while you are learning. This way, you are investing in the experienced trader’s skill set and. Minimizing your risks.
When it comes to fees, eToro is also known as a zero commission broker. Well, fees, commissions, and spreads change from broker to broker. Below we have listed a couple of major products, and how much eToro charges you. by the way, if you wish to compare eToro alternatives, you can click to compare eToro vs. IG.
eToro fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into spread too.
Trading S&P 500 CFD fee is 0.75 pip, which is low.
Trading Europe 50 CFD, and Euro-USD fee is 3 pips.
You will be charged $10 per month after one year of inactivity.
There is no stamp duty and Financial Transaction Tax on you because eToro absorbs the cost. You can actually save 0.5% in the UK, 1% in Ireland, 0.3% in France, and 0.1% in Italy.
Just like margin trading that enables you to invest in CFDs at a fraction of full investment, when it comes to forex trading, leverage matters to a professional forex trader. The good news is that when trading forex with eToro, you have an option to change the leverage.
Let’s have a look at etoro forex fees and compare it with Plus500 & Markets.com.
| Benchmark Fee | eToro | Plus500 | MarketsX |
|---|---|---|---|
| EURUSD | $19.6 | $17.9 | $24.5 |
| GBPUSD | $16.2 | $14 | $25 |
| AUDUSD | $12.4 | $12.6 | $25.1 |
| EURCHF | $11.8 | $9 | $22.1 |
| EURGBP | $19.9 | $14.6 | $20.5 |
“Illustrative Prices”
Best Fixed Spread Forex Brokers
What is the Best Forex Currency Pairs to Trade Today?
If you want to know how to compare forex brokers or find the best UK forex broker, you should pay attention to a couple of more characteristics.
A good broker is not only regulated but also offers a transparent commission structure and trading account.
It should also enable you to execute your orders fast. Generally, all brokers in this list have high order execution speed. So, if you are thinking of what to trade today and which currency pair should you invest your time to trade on eToro, here are some suggestions:
eToro offers and trading instruments can vary depending on your trading strategy. Generally, the list below is available to all traders.
- CFD
- Forex
- Real Stocks
- ETFs
- CryptoCurrency
- Social Trading
- Copy Portfolio
- Copy Trade
Copy Trader is someone who monitors the lead traders in the market and follows their trading strategy. With eToro, you can copy up to 100 traders’ portfolio all at once and browse through their portfolio.
Tip: Min investment per trade is $200, and Max is Half a million.
Best Overall Forex Broker
eToro was established in 2007, where they started as a fin-tech Israel-based startup. Today the company is regulated by the following financial authorities: Australia, Cyprus, UK:
- As one of the best FCA-regulated brokers, eToro is licensed by The Financial Conduct Authority (FCA).
- Australian Securities and Investments Commission (ASIC) regulated eToro. That makes it one of the best ASIC Regulated brokers in Australia.
- As one of the best brokers in Cyprus, eToro is licensed by the Securities and Exchange Commission (CySEC)
eToro offers investor protection. The protection covers up to £85,000 for UK residents and €20,000 for non-UK residents.
Compare Forex Brokers
What broker has the highest order execution speed?
eToro market research is comprehensive and easy to search through.
You can set a price alert to notify you when your preferred asset reaches a certain price range. This way, you will be notified based on the trigger that you’ve configured.
The advanced charting feature is pretty insightful and very good for experienced traders.
When conducting technical analysis or working with a dashboard, it saves automatically and equips you with over 70 indicators.
The economic calendar is a good tool to monitor the volatility of different assets every quarter. eToro’s Economic Calendar gives you access and insights about certain events throughout the year, so you can see what event is impacting the market.
Here is how the portfolio dashboard looks like:
Best Tight Spread Brokers
The best broker review site
Not only are the spreads tight, but training on how to get the best out of the eToro platform is instrumental.
We think eToro offers education through different channels, and they are sufficient to get started.
- eToro webinars are available on demand. During the webinar, you’ll learn more about their trading platform features.
- Podcast and audios to follow with your preferred topic.
- There is also Market Watch, where you can focus more on technical analysis and ask your questions for more clarification. This is conducted every week.
- For those in London, you can attend classroom trading. Apart from the eToro platform, you’ll get a crash course on online trading in that class.
- You will get a demo account and a 100k balance to practice.
- eToro learning lab has plenty of recorded videos that walk a beginner through A-Z of trading.
Best Forex Trading Platform in UK
What is the best forex trading platform in UK?
What are the best UK Brokers?
eToro is one of the best copy trading brokers and forex brokers that keeps innovating their services. The brokerage company is a fully-regulated broker that offers Forex trading and offers zero-commission stock trading.
Education is pretty good and available via webinars, classroom training, videos, and a demo account with $100k virtual money to practice and learn. You can confidently find the right instrument to trade with around 47 currency pairs and 1900 Stocks CFDs.
Not only the account opening process is automated and smooth, but also it allows you to follow the other traders and perform social trading, copy trading, and portfolio trading.
Although it does not charge a commission, forex fees are comparatively high. The only base currency you can keep your money is USD accounts, resulting in incurring conversion fees later.
eToro’s support team responds fast if you use their live chat service, but you may get stock for up to 7 days when asking for help via email.
Best Forex Broker Australia
What is the best forex trading platform in Australia?
Whether you trade currency, speculate, or go for a spread bet, you can always find legal brokers in the UK. Generally speaking, most online brokers (AxiTrader included) charge you fees in these categories.
- Commissions
- Spreads (from 0.0 pips)
- Financial Rates
- Conversion Fees
- hedging strategies
Adjusting leverage is essential for traders, and Axi allows you to change the leverage.
Axi’s fees are built into spreads:
✓ S&P 500 CFD fee is low, and around 0.6 average spread fees.
✓ For GBPUSD and EURUSD, the commission is $3.5 per lot, which both are pretty low. You’ll be charged a small spread too.
✓ AxiTrader does not charge extra fees, such as inactivity fees.
The table below provides a deeper insight into Axi’s fees and helps you compare online brokers side by side.:
Let’s have a look at Forex fees and compare it with Pepperstone & IC markets.
| Forex Scenario | AxiTrader | Pepperstone | IC Markets |
|---|---|---|---|
| EURUSD | $13.8 | $14.9 | $15.8 |
| GBPUSD | $11.6 | $12.5 | $12.1 |
| AUDUSD | $9.5 | $11.9 | $10.6 |
| EURCHF | $1.1 | $3.7 | $4.8 |
| EURGBP | $11 | $10.6 | $9.9 |
Best Forex Brokers in South Africa
What is the best forex brokers for US citizens?
AvaTrade, eToro, and Markets.com are among the best forex brokers in South Africa. These brokers have a solid reputation worldwide and are regulated by top financial authorities, making it a good choice for South African traders to open an account.
Axi online trading platforms are useful for those who just started trading and traders with years of experience. In fact, MetaTrader 4 is their default platform that you can use, and since a professional forex trader is familiar with it, the onboarding process becomes very smooth.
Apart from PC-based and Mac-based trading software, AxiTrader offers web traders who prefer browser-based trading.
AxiTrader has built its own trading platform too. It’s called “PsyQuation,” which is an AI-driven analytics platform.
With PsyQuation, MT4 users can access actionable strategies and ideas to improve their trading performance and strategies. AvaTrade claims that it has tested on 140,000+ traders.
what is the best online forex trading platform
What is the best forex platform?
It’s a very volatile market these days, but as far as you make informed decisions, wherever you find risks, there are rewards too.
AxiTrader’s portfolio has positive and negative sides. Trading products & offers are comparatively lower than the other top FX brokers, but a $0 Starting deposit and 140+ Products are a good place to start.
If you are an experienced forex trader, you probably have your own strategy and adjust the leverage. The positive side is that you can change the default leverage, which is very handy for online currency traders.
Overall, the main trading options that you can find in AxiTrader are:
- Stock Index CFD
- Foreign Currency, Forex with 80 currency pairs
- Commodity Contract for Difference
Most Trusted Forex Brokers
What is the best forex broker for beginner
Most traders who had traded with Axi know it with a different name. In fact, AxiTrader is the old name of Axi that was rebranded in 2020. Axi is a well-known Australia-based brokerage firm and belongs to AxiCorp Financial Services Pty Ltd (AxiCorp). The forex broker is regulated by:
- As one of the best forex brokers in Dubai, it’s regulated by the Dubai Financial Services Authority (DFSA)
- Australia’s financial authority: the Securities and Investments Commission (ASIC).
- AxiCorp (ACN 127 606 348 and NZBN 9429042567608) holds an Australian Financial Services Licence (AFSL number 318232).
- AxiTrader is not publicly listed on the stock exchange.
AxiTrader’s investment protection, especially if you are from Europe, is up to £85,000
Compare Forex Trading Platforms
List of best forex trading platform
When it comes to research, AxiTrader offers news feeds, shares them through its MetaTrader Platform, and daily updates its website. If you are trading from Nigeria, you can easily access the news feed and economic calendar.
Decent technical analysis tools (in 21 languages) are at your disposal, So you can enjoy the UI and user-friendliness of the trading platform and perform technical analysis with up to 31 indicators (including trend lines and Fibonacci retracement, etc.)
AxiTrader offers financial news through its MetaTrader 4 platform. This is great, as many other brokers using the MT4 platform don’t offer news. On the negative side, the news lacks charts and other visual elements.
We liked the market analysis section, which can be found on the website under ‘Market News & Blog.’
An economic calendar is also available with many filters, such as for country or category, which is a great feature.
AxiTrader also offers news through its website. The articles are of good quality, and they are updated daily.
AxiTrader offers fair education for beginners and even better quality training for experts. Here are 5 categories of education that you’ll get:
- Tutorials
- tips
- Videos
- E-Books
- Tools
In Partnership with Knightsbridge Trading Academy, you will be able to join an online trading course that the London Stock Exchange provides.
The trading course is accredited by the academy and, as stated, worth about “$2,750”. The good news is that you won’t pay for it if you meet any of the criteria mentioned in the image below:
Additionally, you can open AxiTrader demo accounts free for 30 days or permanently available if you choose to switch to any live account.
Best Forex Broker For Beginners
top 10 best forex brokers for beginners
Overall, Axi is a safe and regulated broker. It’s made it to our top 10 broker list of no deposit brokerage companies.
Since it charges you deficient fees for forex trading, you can consider them among the other best low fee brokers for foreign currency trading.
When it comes to online trading, customer care becomes very important to FX traders. AxiTrader’s support team responds fast via email and phone calls and is also available to talk via live chat, but they have not established a 24/7 support process.
With 80 currency pairs and low fee trading opportunities, AxiTrader is one of the best no deposit forex brokers for beginners. While you can easily do technical analysis and use its charting feature, no Fundamental data or trading ideas are available.
AxiTrader’s Education & tutorials are straightforward to understand and high quality. Besides having a demo account, you can easily begin trading with zero minimum deposit.
AxiTrader has already developed an AI-powered trading platform that integrates with MT4. It’s called “PsyQuation” and enables you to access actionable strategies and ideas to improve your trading strategies.
Best ECN Broker For Beginners
top 10 best ECN brokers for beginners
FXTM Fees vary from one account type to another:
Here is an example of the commissions of ECN accounts for USD accounts with below $3000 & less than 100Million trading volume:
- EURUSD: (1 * 100,000 * 1.21892) / 1,000,000 * 20 * 2 = 4.88 USD
- AUDCAD: (1 * 100,000 * 0.97969) / 1,000,000 * 20 * 2 = 3.92 CAD / 1.30231 = 3.01 USD
- XAUUSD: (1 * 100 * 1,323.25) / 1,000,000 * 20 * 2 = 5.29 USD
- WSt30m: (1 * 10 * 24,182) / 1,000,000 * 20 * 2 = 9.67 USD
- STOX50: (1 * 10 * 3,443.4) / 1,000,000 * 20 * 2 = 1.38 EUR * 1.15786 = 1.60 USD
The fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into the spread.
✓ For S&P500 CFD, the fee is a 1.4 average spread fee, and Euro50 CFD the fee is a 3.3 average spread fee; Both are considered low.
✕ For EURUSD, the fee is 0.6 pips average spread fee, which is considered high.
✓ There will be a $5/m fee for 3 months of inactivity.
To help you understand FXTM fees, we prepared a table below and compared the fees against XM & XTB
Let’s have a look at Forex fees and compare it with Pepperstone & IC markets.
| Benchmark Fee | FXTM | XM | XTB |
|---|---|---|---|
| EURUSD | $17.8 | $17.1 | $15 |
| GBPUSD | $15.5 | $13.8 | $11.1 |
| AUDUSD | $12.2 | $13.9 | $10 |
| EURCHF | $4.4 | $9.1 | $6.6 |
| EURGBP | $11.5 | $12.2 | $9.9 |
Standard: 100 $/€/£ ₦20,000
Cent: 5 $/€/£ ₦1,000
Shares: 100 $/€/£ ₦20,000
ECN: 500 $/€/£ ₦20,000
ECN Zero: 200 $/€/£ ₦20,000
FXTM Pro: 25,000 $/€/£ ₦5,000.000
Investment account: 100 $/€/£
Best forex trading platform for beginners
FXTM uses MetaTrader 4 & MetaTrader 5 as it’s main trading platform. This way, you can easily use Expert Advisors or EAs.
Recently FXTM launched a trading app called “FXTM Trader.” It’s a good choice to trade on the go, looks very professional, and allows you to work with over 250 instruments.
FXTM forex trading indicators are available via MT4. A few important ones are listed here:
- Orders Indicator
- Pip Value Calculator
- Pivots SR Levels
- Spread Indicator
- Day Bar Info Indicator
The platform is available for Windows, Mac Os, Android, IOS. If you don’t want to install the software or trading App, you can use a web trader.
Best Low Cost Forex Brokers
What are the best low cost forex trading platforms?
Some beginners ask what forex is, and other professional traders look for unique trading opportunities. The portfolio that with FXTM trading App provides is limited to:
- Forex: Major, Minor & Exotic currency pairs
- Gold and silver
- 180 major company shares
- CFD Commodities, including UK, US
- Crypto including Bitcoin, Ethereum and Litecoin
FXTM is not a stock-exchange listed broker, but the company maintains a good reputation. In fact, FXTM is regulated in the following markets:
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Services Commission of Mauritius (FSCA)
- The Financial Conduct Authority (FCA)
Besides, FXTM allows you to follow experienced traders with FXTM Invest. This is FXTM’s copy trading platform.
FXTM’s investor protection amount is £85,000 in UK & €20,000 in EU
Top 10 forex brokers in USA
What is the best withdrawal forex brokers
Forex trading for USA citizens is a bit tricky. The legal situation is very similar to Canada as both countries are stringent on trading CFD and forex. Therefore you can not find many brokers to operate in that region legally.
We have written a different post and listed the best forex brokers in Canada. Forextime.com offers a fair deal of tools such as the Pivot Points Strategy to determine price direction for research.
Also, offer updated news feeds that are available to everyone. Unless you use their desktop platform, you can not set alerts and notifications on Forex time platforms.
Detailed features that you can find on the Market Analysis topic are:
- Live economic calendar.
- Regular Newsfeed
- Forex News
- Market updates (every Tuesday)
- Quarterly market forecast
- Annual market overview.
top 10 forex trading websites
FXTM might not be the best currency broker for beginners, but it offers different forms of educational materials such as:
- With the “Monthly market” outlook, you can follow their discussions every month. It covers important events around the world.
- Training materials and education are available in eBook format.
You might even enjoy using the interactive periodic table of trading that helps you learn the terminologies:
Here is an example when you search for Pip: “A pip, or ‘Percentage in Point,’ is defined as a minimal measure of change that can see in an exchange rate quote.”
Besides, FXTM education comes in the forms of:
- The yearly economic calendar is publicly available.
- Webinars are regularly scheduled.
- Articles
- Training videos
- Virtual seminars
- Live Q&A that you can use and even ask their trading experts to answer your questions.
Not only will you get a demo account, but you will also have access to in-depth articles and lots of videos (about platforms and trading).
It’s necessary to access charting tools, and FxTM offers the tool; however, it does not look modern.
What are top forex brokers for us residents
U.S traders can find their best forex broker list here. ForexTime offers a modern brokerage app and a strong Mt4 based desktop trading platform. With over 160 Stock CFDs and 48 currency pairs, you can easily find enough currency pairs to trade Forex.
When you log in to your MyFXTM dashboard, you can see trading signals and choose CopyTrade. The question about its regulation and whether FXTM is a scam or regulated is clearly answered here, and it is a safe broker to trade with.
Market research and analytics are strong, and FXTM’s customer support team responds fast via email and live chat.
Opening a demo account is literally instant, and switching to a live account can be done in one, or max, three days. By the way, the minimum deposit of an ECN account is $500.
Wrapping up the best forex brokers review
What Is The Most Trusted Broker?
Trusted brokers have certain characteristics that differentiate them from scams.
First and foremost, top fx brokers are all regulated by financial authorities.
Secondly, they manage their reputation and offer support to no-satisfied customers.
One of the most important factors that concern both beginners and professional traders is brokerage fees. Most popular brokers are very transparent about their fees.
Other factors add value to broker ranking, such as trading instruments, withdrawal fees, trading platforms, research tools, education, and investor protection.
When you pay attention to these factors, you can see why we have blacklisted brokers as forex scams
and unregulated brokers. It would be best if you stayed away from them and not be intimidated by their offers.
If you are a beginner, be cautious when trading Forex because the instruments are risky & you might lose your capital. In fact, if you’re not ready, you can start reading our trading blog and open a demo account in one of the top forex brokers list to practice.
If you’re an experienced trader, go ahead and review the factors below and switch from your broker to the best brokers for forex trading or open a new live trading account.
