Forex trading is the exchange of stocks, oil, currency, and many other such assets with other countries. But for general traders, it mostly involves the currency. People are interested in forex trading as it gives them the way to generate a huge amount of money. The use of forex trading is all over the globe. The bank for international settlements has declared that the average trading Forex volume reaches above $5.1 trillion daily.
There are many brokers options available in the international market. It’s no doubt that these platforms also come with the risk of fraud, so it is vital to select the best broker. The trusted broker is the one that has been licensed by some of the regulatory bodies. You should always look for forex broker reviews that ease your trading and result in a profitable outcome.
Some of the forex brokers you can consider are:
BDSwiss is the most trusted forex trading platform as it has been regulated and licensed by CySEC, FSC. It has been rated 5-stars over the internet. BDSwiss was started in 2012 and has completed its 7-years. It has various international clients, and the foremost client is from Europe. It holds over 1 million on its page, which accounts for its credibility. The most loved feature of BDSwiss is that it has minimum deposits of only 100$/€. The downside for this broker is that other brokers come with minimum deposits. Apart from this, it also gives us the freedom to trade more than 300 different assets. Moreover, the BDSwiss offers a free demo account to interested traders.
RoboForex is a forex broker that was founded in 2009 and was licensed by the IFSC regulatory body. RoboForex is headquartered in Belize. It has been awarded many times by other regulatory bodies. As of now, it holds more than 900,000 accounts of its customers. It gives your tight spreads from 0 pips. Besides, it controls over 5 currencies and the fastest order execution. RoboForex also has 8 asset classes. These are the most valued features for any Forex broker. RoboForex has been rated 5 over the Internet.
FXTM is another topmost forex broker for traders. It gives you the freedom to select from 6 different account types. It has been licensed and awarded for its credibility. Moreover, there are no frauds reported with this broker so far. The 6 account types are categorized into 3. They are ECN account types; cent accounts for micro trading and the FXTM account to open the shared account.
The minimum deposits for a trader start from $10 for a cent account and around $200 for an ECN account. The minimum deposit for an FXTM deposit is a bit expensive and starts with a deposit of $10,000. Moreover, the amount can be deposited through international banking sites such as Nettler or credit cards.
XM Forex was founded in 2009 and had over 15,00,000 customer accounts. Cyprus Securities and Exchange Commission and International Financial Services Commission regulates this broker platform. It has been awarded over 15 times for its reliability. XM Forex has spread to over 196 countries. This platform is known to be very reliable for investment purposes. The most loved feature of XM forex is that it has a great system to support its customers. Customer support comes in 30 languages.
For its customers, it comes with webinars of the financial market. It also provides data and analytics about forex. XM Forex has worldwide offices in Cyprus, Australia, and Belize. This platform demands minimum deposits of $5, and the spreads start with 0.0 pips. People also choose XM Forex over other platforms as it comes with negative balance protection. The feedback and all the review systems of the platform are quite appreciative. It is rated 5 among many other brokers’ platforms.
FCA (UK), CySEC (Cyprus), and FSA (Seychelles) are the regulatory bodies for Tickmill. Licensing is the most important part of any broker to be the best. This is because frauds can happen on these platforms too. The frauds include withdrawal removal, sharing the data with other clients, and many others. The minimum deposit for a trader to open an account in this forex broker platform starts at $100. Also, the commission allotment is 1$/1 Lot. Tickmill claims the 100% guarantee for regulation, safety, low spreads, and commission.
It also claims to support the best customer service facilities. The claims can be verified with its users, as the average trading volume for Tickmill is above 114 billion per month. Moreover, Tickmill comes with the advantage of the fast execution process and high liquidity. In addition, it has more than 50 forex pairs, thus giving a wide area to trade. It provides many opportunities to make more money. This forex broker platform gives the maximum leverage of 1:500. Tickmill has been rated 5 over the internet.
SuperForex was founded in 2013. It started with a mission to make forex available to everyone. It holds clients in over 150 countries. This forex broker has been regulated by IFSC, which increases its credibility. The advantage of SuperForex is that it allows trading a variety of assets such as cryptocurrency, gold, forex, metal, stocks, and oil.
Vladimir Syrov, the CEO of SuperForex, has used advanced technologies to make trading easier to achieve the mission of SuperForex. It offers traders a variety of ways to manage their accounts. Among all the discussed forex platforms, it has been lowly rated as 3 out of 5. It comes with a free demo account. The minimum deposit to open an account in SuperForex starts at $1, and the maximum leverage that it gives is 1:1000.
There is no doubt that there are hundreds of trading platforms available. However, there is always a risk of fraud. A licensed and trusted broker will help you better trading experience and result in profit. Check out forex broker’s reviews online before you concrete your decision.