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What will a comparison of different brokers working in the Forex market give me?
Services in the Forex market are provided by many different brokerage companies, each of which tries to attract as many clients as possible. Naturally, there is a serious competition in this area, in which brokerage companies are trying to win a certain stable niche in the service market and be the best in it. Each brokerage firm has its own advantages and disadvantages. Your choice is not limited to one broker and you can trade with anyone, anytime. By comparing different brokers, you can choose the companies whose level of services best suits you and your style of doing business in the Forex market.
Review and compare brokerage firms in the Forex market on our website Broker Reviews
You may wonder why we only review a number of selected brokers when there are hundreds of firms operating in the world. The reason is quite simple – we list only those firms that, in our opinion, are the best and offer the highest quality services for the typical trader.
Criteria for choosing a broker to work in the Forex market
In our assessment, we have tried to implement as many criteria as possible that we think are most important. We believe that, for example, the number of currency pairs offered by a certain broker is much more important than the availability of some kind of low-spread payment method from the broker.
So, our main criteria are:
Software: how easy and convenient it is to use in work, functional characteristics;
Cash bonus (bonus can be a very profitable and attractive offer);
Accepted types of money transfers (without a suitable way to make a Deposit, you will not be able to trade);
Additional services, such as transactions on CFDs, exchange-traded goods, etc.
Which Forex brokers also offer contracts for difference (CFD) trading?
In our comparison table for Forex brokers, you can find the “CFD” column, which shows the possibility of trading these contracts with a specific broker. Ava FX, eToro, Finexo, InstaForex and Forexyard allow you to work with CFDs.
Access to some of the broker trading platforms can be accomplished through the Internet browser?
It is always convenient when there is no need to install a separate program for the trading platform. Therefore, some of the developers of trading platforms meet their clients halfway and make it possible to access the platform via an Internet browser from any computer (without administrator rights) and from anywhere in the world. The comparison table has a corresponding table showing the availability of this service for a particular broker.
Which broker offers the biggest cash bonus?
You can find a comparison of bonuses in the table by broker and then go to the description of a particular broker to evaluate the terms of bonus offers. We also offer you a separate note "How to get a cash bonus for Forex trading".
Which broker has the most convenient options for making a Deposit?
Many brokers expand their range of services and offer new and more modern payment methods over time. Unfortunately, there are still companies that believe that Bank transfer or Bank card payment will be a sufficient choice for customers. Naturally, only these two methods may not be suitable for many traders, so our overview table includes information on how to make deposits in different brokerage companies. Moreover, we offer you the note "making a Deposit for Forex trading", as well as a list of brokers working with two widely used electronic payment systems Paypal and Moneybookers.
Which broker offers the best software?
Of course, the concept of "best" is conditional. Some traders may use a set of certain functions that others do not need at all. Some people need a clear and easy-to-use terminal, while others may need Metatrader 4 or 5. So, there is no obvious answer to this question. We, the authors Brokerreviews.org, we tried to facilitate the choice of software. The site contains reviews where you can find descriptions of the software provided, for example, here: "Comparison of Forex trading platforms: Metatrader and eToro". You can also refer to the list of brokers that provide a workplace based on Metatrader 4, as well as to the list of brokers that allow you to work through a web terminal and without installing desktop software.
Which broker offers the highest leverage?
the Maximum leverage varies from 1: 100 to 1: 1000. Instaforex is the leader in This indicator with a leverage of 1: 1000, no other broker offers such a huge leverage. In the table for broker offers, you can find the maximum leverage values in different companies.
Which broker offers the lowest spread?
The most popular and representative currency pair for which spreads can be compared is the Euro / dollar. The difference in the offered spreads between brokers is not so large, and the average spread on the Euro/dollar pair is 3 points.
Which broker offers the lowest minimum Deposit?
Our research shows that InstaForex is the leader in This offer with a minimum Deposit of just $ 1. Other brokers have a minimum Deposit of $ 50 to $ 200. For novice traders, on the one hand, it may be important to limit the amount of investment and focus on opening an account with a low threshold for entering the Forex market. On the other hand, it is important to remember that the risks are much higher when you have a small amount in your account. In this regard, of course, there is a positive trend among brokers: many introduce "micro points" that allow traders with small investments to trade with lower risks. Please also keep in mind that the minimum amount of subsequent deposits may also be limited.
Which broker is the best choice?
Obviously, there is no clear answer to this question. You need to take into account many factors that affect which broker is more suitable for you. In particular, it depends on what kind of experience and level of training you have: beginner or more qualified and experienced. Also, for example, it will be important to prefer certain software, such as Metatrader or some simpler client program. The choice is yours, and we only offer an overview comparison of different Forex companies to help you make a decision.