Top Forex Brokers Reviews and Best Forex Brokers

Top Forex Brokers Reviews and Best Forex Brokers
Source: XM Trading Forex - xtradingfx.com | Top Forex Brokers Reviews and Best Forex Brokers - https://forextradingblog.net/top-forex-brokers-reviews-and-best-forex-brokers-0004163

Top Forex Brokers Reviews And Best Forex Brokers

 

1. Exness

 
Top Forex Brokers Reviews and Best Forex Brokers
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Exness

Exness is a reputable online Forex broker in 2008. Since its launch, the company has grown to become a significant player in the industry of online Forex trading. The broker is known for its easy to use platforms and also a high level of transparency.

 
PROS:
  • High-speed order execution
  • Highest forex leverage in the market
  • Trading costs and spreads are low
  • Customer Support operates in world regions available 24/7
  • Provides a wide variety and Instant withdrawal and deposit system.
  • Provides adequate trading platforms such as MetaTrader 4, MetaTrader 5, Mobile trading platform and an MT4 Web Terminal.
  • Provides forex traders with more than 90 forex trading account currency options.
  • Provides effective trading tools like trading indicators and chartings systems.
  • Availability of a free VPS hosting.
  • Regulated by a good number of financial regulatory authorities: CySEC, FCA, BaFin, MiFID, ICF, SVGFSA
  • Client funds kept in segregated accounts
  • Dealing-Desk Broker
  • Copy Trading System
CONS:
  • Some customers complain of a slow MT5 platform.
  • Annoying popup Windows on the website.
  • Trading mobile app not compatible with some Android devices.

Exness offers users the ability to trade on a wide range of asset classes covering Forex and CFDs on Crypto, Metals, Energies, Stocks and Indices across five core trading accounts. Professional Accounts are called Raw Spread, Pro and Zero with account leverage of up to 1:2000 on MT4 and unlimited leverage on MT5, no trading commissions on the Pro Account and 3.5 USD commission per lot, per side for Raw Spread and Zero Accounts. Standard accounts are called Standard and Standard Cent which are both commission-free. Demo accounts and Islamic swap-free accounts are also available.

Customer support is offered in 13 languages with 24/5 support in 11 languages and 24/7 support in English and Chinese via Live Chat or Email.

Exness takes an active role in social life, as well as acting as an honored sponsorship partner with various organizations. Currently, Exness proudly sponsors the world’s number one football team, Real Madrid.

2. XM

 
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XM

XM was first started back in 2009 in Cyprus, so far operating clients from over 190 countries and is among the most trusted Regulated Brokers.
 
PROS:
  • Fast digital account opening
  • Easy switch between Demo and Live Account
  • The proposal between Accounts based on spread only or with commission charges
  • Very Low minimum deposit
CONS:
  • Account types vary according to jurisdiction
 

XM is regulated by the FSC Belize and they have European passports with the MiFID, as well as being regulated by the CySEC in Cyprus, as well as being regulated in Australia as an ASIC entity.

They have an offering of more than 400 different instruments, this includes over 350 CFDs, as well as more than 55 currency pairs.

About 1.5 Million Traders and investors at XM choose its wide range of XM trading products and the services broker provides along with advanced trading solutions, yet suitable for beginning traders as well. The reason for such fast growth and trust to the broker is that XM aims to provide one of the best user experience in the industry to its clients.

They offer more than 20 language options for their users and they cater for any and all levels of trader. One of the recent awards they have received is being named as the best FX broker in Europe in 2018 by the World Finance Magazine.

3. FBS

 
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FBS

FBS is a international broker owned and operated by Tradestone LTD headquartered in Limassol, Cyprus. The brokerage was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC).
 
PROS:
  • Regulated broker with long years of operation
  • Negative balance protection
  • Global expand
  • Superfast trade execution within 0.40 seconds for 95% of trades
  • Supports a large range of deposit methods
  • High leverage up to 1:3000 (for non-EU customers only) suits higher-risk traders well
  • Exemplary, multilingual customer service is always available
CONS:
  • EU Customers have fewer account options than users in other regions
  • Small range of instruments offered
  • IFSC Belize regulation offshore based.
 

This forex broker which quickly gained momentum and still maintains a sterling reputation amongst traders, achieving a steady rate of new membership of 7,000 daily, even a decade later

With more than 190 countries of presence. 15 000 000 traders and 410 000 partners have already chosen FBS as their preferred Forex company.

The broker also provides the best customer experience FBS organizes seminars and special events, providing its clients with training materials, cutting-edge trading technologies and latest strategies on the Forex market, as well as a wide variety of bonus promotions such as the 100% deposit bonus, as well as different trading contests.
 

4. OctaFX

 
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OctaFX

OctaFX is one of the most well-known CFDs and Forex brokers in the world so far. Started in 2011, this company has been incorporated in the financial markets of the Grenadine islands and Sy Vincent.

 
PROS:
  • Regulated and authorized by CySEC
  • Forex and CFDs offered
  • No commission deposits or withdrawal options and on currency exchange
  • Access copy trading, bonus promotions and a wide range of research tools
  • Lowest spread in the industry
  • Negative balance protection
  • Dont pay swaps
  • Fastest excution and no slippage
CONS:
  • Limited range of instruments and markets
  • Limited deposit and withdrawal options
  • Low Crypto coverage
  • No VPS
  • Telephonic support not available 24/7

This platform has clients originating from over 100 nations around the world. It is important to note that the UK’s Financial Conduct Authority considers OctaFX as a legitimate and regulated brokerage.

They are well known for being one of the best STP (Straight Trough Processing) ECN brokers on the market. This means that they do not operate a dealing desk and can therefore give you some of the lowest fees.

They serves over 1.5 million trading accounts and has executed more than 288.0 million trades. Bonuses fulfill a significant role at OctaFX, which has paid out nearly 3.0 million in incentives.
The services and features offered by OctaFX are designed for both beginner and professional traders, as well as the OctaFX Copy Trading programme and an impressive range of education and trading research tools including AutoChartist.

5. HotForex

 
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HotForex

HotForex has been around since 2010 when it was started in Mauritius. They are a leader when it comes to providing forex services online, as well as being a worldwide CFD broker. They place an emphasis on their customer.
 
PROS:
  • Founded in Cyprus known for its great technology
  • Regulated by the financial Investment Commission ASIC, CySEC, Financial Conduct Authority FCA
  • Commission-free trading accounts available.
  • Broker with some of the best range of Forex and Commodities markets
  • Competitive spreads from the live comparison table.
  • Lots of premium MetaTrader tools and indicators such as AutoChartist.
CONS:
  • Only 56 shares are available.
  • St. Vincent and the Grenadines entity unregulated.

HotForex and HF Markets are unified brand names of the HF Markets Group. While the group holds licences for different entities from different regulators includingfrom the FCA UK, CySEC Europe, FSCA South Africa, DIFC Dubai, and the SFSA Seychelles, the broker also offers some users the ability to open trading accounts with HF Markets (SV), depending on their location, which is a registered International Business Company in St. Vincent and the Grenadines and as such is not regulated.

This Broker is a multi-asset broker that offers Forex and Commodities through CFDs trading services through the choice of 7 account types and trading platforms with tight spreads averaged EUR USD 0.1. The broker brings access to unrestricted liquidity allowing any size or profile trader to make a choice between various spreads and liquidity providers via automated trading platforms and performance of any strategy.

6. Deriv

 
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Deriv

Deriv launched in 2020 by the team behind one of the oldest binary broker in the industry – Binary.com. (a company with almost 20 years of experience). As a broker that is regulated in multiple jurisdictions, Deriv is very upfront about its legal status and the companies that stand behind it.
 
PROS:
  • Well regulated
  • Good customer service support
  • The social trading platform generates passive income
  • Well-developed platforms
  • Innovative
CONS:
  • Not available in some countries
 

Deriv is a regulated broker that follows standard operating procedures and offers a navigable trading platform. The web and the mobile trading platform allows traders to enjoy seamless trading experience. The platforms are simple, user-friendly, yet competitive.

It offers the ability to trade and choose over 100 assets that include Forex, stocks, commodities, and indices. Also, it offers a good deal of binary options. The leverage of this broker is generous which is up to 1:1000.

7. XTB

 
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XTB

XTB is a global CFD broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to regularly disclose its financials.

 
PROS:
  • Low forex CFD fees, commission-free stocks/ETFs for some.
  • Free and fast deposit and withdrawal.
  • Easy and fast account opening.
CONS:
  • Product portfolio limited mostly to CFDs.
  • Limited fundamental data.
  • Inactivity fee charged.

XTB has more than 14 years of experience and is amongst the world leaders when it comes to providing Forex CFD trading to retail traders across the globe.

Each and every XTB trader is treated as a valued partner rather than just a statistic. They take great pride in offering a personal approach to establish long term relationships with traders and to help them become successful. Each trader gets a dedicated personal account manager as standard with individual support provided every step of the way, this has helped to earn them excellent ratings on Trustpilot.

8. FXTM

 
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FXTM

FXTM (Forex Time) is a well-established Forex / CFD brokerage and was launched in 2011 with its headquarters in Cyprus and they had the goal of providing top quality education, great trading conditions and modern trading tools.
 
PROS:
  • ForexTime is a global and award-winning broker
  • They’re fully regulated and licensed
  • Traders from over 180 countries trust ForexTime
  • They speak your language
  • They offer account types to suit all types of traders
  • Expert Advisers other MetaTrader 4 plugins are welcome
  • Guaranteed negative balance protection
  • Innovative, free trading tools including margin pip calculators
  • Daily market analysis by their market research team
  • Funds are deposited in segregated accounts in top-tier banks
  • Wide range of payment methods
  • They provide great trading bonuses and promotions
  • FREE deposits and instant withdrawals.
  • Superfast Execution
CONS:
  • High stock CFD fees
  • Inactivity and withdrawal fees
  • Limited product portfolio
 

They are licensed under numerous key regulators, including the likes of the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the United Kingdom, the Financial Services Commission (FSC) in the Republic of Mauritius and the Financial Services Board (FSB) in South Africa.

They have been named as one of the world’s fastest growing and best forex brokers. FXTM has achieved rapid global expansion, driven primarily by its desire to serve specific local markets with strong FX demand.

Since then, over 2 million people worldwide have chosen FXTM as their trading partner and thousands of new traders continue to join this platform every month.
 

9. IC Markets

 
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IC Markets

IC Markets was founded in Sydney, Australia, in 2007 and is a regulated Forex CFD Provider.

IC Markets was incorporated by a team of professionals in the financial services industry who were instrumental in the success of one of largest regulated CFD provider.
 
PROS:
  • Low forex fees.
  • Easy and fast account opening.
  •  Free deposit and withdrawal.
CONS:
  • Limited product selection.
  • Slow live chat support.
  • No investor protection for non-EU clients.

IC Markets sought to bridge the gap between retail and institutional clients offering a trading solution previously only available to Investment banks and high net worth individuals.

It is one of the most renowned Forex CFD provider, offering trading solutions for active day traders and scalpers as well as traders that are new to the forex market. IC Markets offers its clients cutting edge trading platforms, low latency connectivity and superior liquidity.

IC Markets is revolutionizing online forex trading. Traders are now able to gain access to pricing previously only available to investment banks and high net worth individuals.

IC Markets is highly recommended to both new and experienced traders looking for faster execution and tighter spreads.

10. Vantage FX

 
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Vantage FX

Vantage FX is a regulated online trading broker founded in 2009 that offers institutional trading conditions to retail clients across the globe in a transparent true ECN/STP environment without dealing desk intervention. They provide access to over 300+ trading instruments on multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, ETFs CFDs.
 
PROS:
  •  Low fees.
  • Super fast account opening.
  • Seamless deposit and withdrawal.
CONS:
  • Limited product selection.
  • Customer service could be better.
  • Investor protection only in the UK.
 

Vantage FX is an electronic communication network (ECN) broker using top tier liquidity providers (LPs) for institutional grade liquidity to ensure fast trade execution speeds and tight interbank RAW ECN spreads from just 0 pips. Liquidity providers contributing to the deep institutional liquidity pool include some of the world’s largest institutions such as J.P. Morgan, HotSpot FX, National Australia Bank (NAB), Citibank, BNP Paribas, HSBC, Royal Bank of Scotland (RBS), Credit Suisse, Goldman Sachs, Bank of America, UBS and more.

Frequently Asked Questions (FAQs)

Can I trust forex broker reviews?

You can trust forex broker reviews if they come from a reputable source. For example, our forex broker reviews are created by experts who have conducted hours of research and have actually traded with the broker in question. All of our recommended brokers also offer demo accounts, so you can decide for yourself whether a broker is right for you, before parting with your money.

Which forex broker is best?

Choosing a forex broker is a subjective decision, based on your trading style. The best forex brokers, however, all offer similar features such as industry-leading trading platforms, competitive spreads, and strict regulation.

Do you need a broker to trade forex?

Whilst you can technically trade forex without a broker, this is impractical unless you have access to very large quantities of money. Whats more, it is highly complicated very risky. Trading with a regulated broker, on the other hand, is completely safe and secure.

Is forex a gamble?

Successful forex trading is not a gamble. It requires you to spend time researching and developing trading strategies, so that you arent just guessing currency price changes. To make informed trades, you need to understand trading psychology, stay up to date with market news and utilize trading tools and educational materials.

Thank you for rating.
Source: XM Trading Forex - xtradingfx.com | Top Forex Brokers Reviews and Best Forex Brokers - https://forextradingblog.net/top-forex-brokers-reviews-and-best-forex-brokers-0004163