List of the best 10 Forex Brokers Trusted Review
Only trade with regulated and licensed Forex Brokers
Review conclusion: Start trading with a reliable Forex Broker
Are you looking for a good and serious Forex broker? Then this page is the right place for you.Thanks to the large selection on the Internet it is often difficult to make the right decision. With more than 5 years of experience in the financial markets, I present you the cheapest providers with top service and without hidden costs. Find out in the following texts how to select a security provider and whichbrokeroffers the best conditions.
In contrast to many other comparison sites, I present you on this website really the safest providers with the best conditions for traders. As a trader with many years of experience, I have tested many Forex Brokers and still use some of them. A good provider should have certain characteristics that guarantee good and safe investing.
It is not uncommon to hear of fraud on the Internet. This is to be avoided with this comparison! In addition, one would like to save fees as a trader, because the costs for the trade reduce of course the actual profits. Also, the security of customer money is of high priority. A regulation or license, for example, is urgently needed for secure trading with European brokers. All these criteria and many more are included in the test. Therefore I can present you on this page the best Forex Brokers 2019.
A Forex Broker is an intermediary between a client (trader) and the interbank market for currencies. In addition, the broker can lend capital to the trader so that he can trade with leverage. The brokers income is generated by the spread and the cost of financing the leveraged positions.
There are 2 different models of brokers: Market Maker and ECN/NDD Broker.
This broker does not place the traders orders directly into the real interbank market. There is an internal matching system between the positions of the traders. In addition, the broker can hedge himself on the real markets so that there are no distortions in supply and demand. In most cases, this system is very opaque and only as a broker employee you know the exact functions.
ECN means direct access to the interbank market through various liquidity providers. These are large banks or very large Forex Brokers. The provider places the traders orders directly into the real market. So the customers get direct and real market prices for trading. With this model, there is no conflict of interest between trader and broker.
Security has the highest priority in online trading.When it comes to trading leveraged financial products, you have to be able to trust the Forex Broker. It is not uncommon for large sums of money to be used to generate a large profit. For example, brokers in the EU must have regulation or license if they want to offer their services. The regulation can be in any European country. The same or almost the same requirements apply to brokers everywhere. In order to avoid fraud, it is important to look for such a license.
Licenses are only issued under certain conditions and criteria. If a broker violates these conditions, the license may be withdrawn immediately. All tested companies of mine are always concerned to keep the highest criteria and to guarantee a safe trade. Many brokers, for example, are regulated in Cyprus. This has tax advantages. Nevertheless, there are also Forex Brokers with more than one regulation. The various regulatory authorities can be seen in the table above.
Another important point for serious trading is the security of customer funds. Payouts of winnings or the deposited amount should work smoothly. It was not uncommon for some brokers to speculate on customer funds themselves. In the end, withdrawals were refused or delays occurred.
Forex trading is managed by leveraged financial products.That means you are able to trade a bigger contract size than the amount of money in your account. Some brokers offer the leverage up to 1:3000. Many traders are afraid of the obligation to make margin calls and this is not without reason as the past has shown. Account balances could slip into the negative balance. This is possible due to extreme market situations and too large a position size in relation to the account balance.
The providers shown above all have no obligation to make additional contributions (except IC Markets and Vantage FX). With the providers in the upper table, you are therefore protected against such a scenario. In my experience, this can only happen if the account is too heavily leveraged. You should always beware of sensible risk management.
Beginners should always start with the free demo account to practice Forex Trading.
A demo account is essential for successful trading. The trading column form and conditions can be tested extensively with this account. It is a virtual credit account that simulates real money trading. It can be traded without risk. This means that new strategies can be developed or new markets tested. The demo accounts of the compared providers are completely free and unlimited. This account is best suited for the entry into forex trading.
For most traders, the first deposit into their account is very exciting. It should work smoothly and be highly secure.Forex Brokers offer well-known and proven payment methods. Capitalize the trading account with electronic methods (credit card, e-wallet, PayPal, crypto) or with the classic way of bank transfer. Electronic methods work in real time and the money is credited directly to the trading account. Trading can be started immediately. The minimum deposit at the compared brokers is very low. For example, you can open an account from as little as 1$. If this is worth it, you have to decide for yourself. There are no fees for the deposits.
The payout is also very uncomplicated. With a few clicks, you can request a withdrawal in the menu. This is then released in 1-3 working days. However, most brokers payout customer money in less than 24 hours. All presented brokers passed this test. The fees can be a bit high for small payouts. With payments over 200$, the Forex Broker takes over the fees.
Not any country is available for Forex Brokers and trading. This is because there are some restrictions and special regulations. For example, in some countries, an international broker needs a special license for that specific country. So it is too much afford for some companies to get the license and they stop taking clients from these countries. You can clearly see on the homepage which clients they accept. Not many brokers accept clients of the United States of Amerika.
From my experience, the fastest growing countries are in Africa and Asia. Because of the development of mobile internet, more people get connected to the forex market. India, Nigeria, Philippines, Malaysia, and China are at the moment the fastest growing countries.
Forex Trading is fully legal if there is not any ban from the government. Forex trading is just changing money into another currency. This is not an illegal practice. The brokers on my review got official regulations so they act fully legal.
On this page, I have presented you my current list of the top 10 Forex Brokers in comparison. Now you have a selection of good and reputable companies in front of you. It was particularly important to me that I only present providers here, which I have tested myself with real money. This is not the case with most comparisons.
Profit now from the most favorable fees and the best conditions by my experience of many years. With these providers, you are 100% safe and can take your Forex trading to the next level.
I hope you could learn something in this comparison and act now with better providers through my recommendations. If you cant make up your mind, please also read the reviews.
Successful Forex Trading requires a good and reliable broker. In this review, I showed you the top 10 Forex Brokers. Now start to get your earning with the best conditions to trade with.
Your capital can be endangered. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms. The texts on this page are not an investment recommendation.