THE INTERNETS MOST COMPREHENSIVE LIST OF ONLINE FOREX BROKERS AND FOREX REVIEWS.
FP Markets is one of the largest brokers in the world. The broker is based in Australia and allows international clients to participate in the forex market. Among what they offer, you will find bothECN Pricingand Direct Market Access with CFDs. With such a selection, it is easy for FP Markets to give you an efficient way of trading with almost instant execution and incredibly thin margins.
That is what we are going to find out. Buckle in, because we are about to get into details and make sure we give you a vivid picture of FP Markets.
FP Markets is the best overall when it comes to range of variety in services and markets offered.
That is most of what FP markets is all about in summary. To get a clearer picture, we have to look at some of the things that make FP markets a strong broker.
In ourFP Markets review, we do not feel like we will have given you much without explaining the things about this company that makes it one of the best.
In this section, we are going to look at the Australian brokers offer in both CFDs and Forex trading. OurFP Markets reviewfound that the broker offers access to over 13,000 trading instruments. Some of the products and markets FP Markets offers include:
Also known as Equities, FP Markets allows the trading of shares usingMT4/Mt5 and IRESS. If you use MT4 and MT5, you can have your pick from 20 stocks. The shares you get use ECN pricing. The fees are incorporated into the spread, eliminating commissions.
IRESS is not like MetaTrader because they offer thousands of different stocks for trade through DMA (Direct Market Access) execution. The commissions costs are usually at 0.08% per side.
There are over 50 pairs included in this, with the most popular options like EUR/USD, AUD/USD and GBP/USD. Can all be traded using FP Markets as the broker.
With FP Markets, you will have access to thee most popular international exchanges. The exchanges you will access include; CFE, CME, CBT and NYM. When you are trading these and other CFDs, you will have three account types to choose from. The best one is premier but they all have requirements we will list here;
In ourFP Markets Review, we found that the index options you will get here are some of the best among the forex brokers regulated by ASIC. Markets you can trade here include the FTSE 100, Dow Jones, NASAQ and the Sydney Futures Exchange.
As a trader, you will have the chance to use the Index CFDs and open positions on the entire market instead of focusing on individual stocks. Compared to most forex brokers who focus on just the trading, FP Markets offers you a wide range of markets and services, making it the category leader among many of thetop forex brokers.
Offered among the best features, is a raw spread account that is based on the True ECN Broker, ourIC Markets reviewshows. The fees for the service are much lower than most. With spreads for the EUR/USD pair starting at 0.0 pips, you can see why people prefer it.
The commission per lot is $3.50, and there are no deposit, inactivity, or withdrawal fees. With offers like these,IC Marketstakes the position of one of the best forex broker in the world. There are several cost benefits you will get when using IC Markets.
They include; low commissions, minimal additional trading costs, and ECN broker spreads.
When we look through the account types offered by IC Markets, they have the lowest spreads. They are also provided with cTrader and true ECN, which they call Raw Spread. IC Markets has a 0.0 pip spread on the EUR/USD account. TheIC Markets leverageallows you to exercise more flexibility in your trading.
It is the reason why we consider spreads like these, the accurate indication of an ECN account with STP. TheIC Marketsdemo accountwill help you acclimate to the broker.
In our comparison, we looked through the fees to see if they reflected the way traders regard IC Markets, and they break down like this.
IC Marketsreal accountsprovide a myriad of ways that you can use to deposit money into your account. They include the following easy and convenient methods; Skrill, Bpay, FasaPay, PayPal, Skrill, and Bank/Wire transfer.
If you do international transfers, you will be charged money by your local bank, but there is no charge made by IC Markets to move the funds from your account into your bank. It all depends on which method you use. However, the deposit could take time to reflect, or it could arrive instantly.
When it comes to withdrawals, they do not have fees. Just like deposits, it is free to withdraw your money from IC Markets. This is standard practice everywhere. However, withdrawals to your local bank could cost you some. But this is a fee from the bank and not IC Markets.
As for inactivity, you wont be charged anything continuous periods of no use. Some other brokers charge a fee, but that does not happen at IC Markets, as ourforex reviewsshow.
Rollover fees are standard and charged by all brokers dealing with CFDs. They apply when a position is kept open and then shifted to the next trading day. These fees change now and then. Wednesday nights, they will charge you to hold a currency pair triples.
There is a lot to say about AxiTrader, but they are known for being the best MetaTrader 4 forex broker in the world for the following five reasons:
AxiTrader is an ECN broker, meaning that they do not use s trading desk, giving individuals the chance to trade with global liquidity pools directly. From a system like this, we get faster execution speed and low spreads.
Of the many things AxiTrader has to offer, they have two account options for you:
In comparison with the other Australian Brokers, AxiTrader shows that they have excellent spreads and fees. Their numbers are comparable to what you would find at Pepperstone and IC Markets, among others.
One of their other primary core points comes from MT4 NextGen which comes with features like;
These features will allow anyone using AxiTrader to access so much more while also enjoying the most trusted forex broker in Australia and their award-winning customer support services.
As for leverage, AxiTrader is surpassed only by a handful of companies like Pepperstone, IC markets, ThinkForex, and CMC. Even for a beginner and an intermediate trader, leverage of 1:400 should be enough. This broker is great if you are looking for an MT4 forex broker.
XM is one of the broker companies we recommend for forex and CFD traders who like MetaTrader platforms and want low trading fees. Unlike most CFD providers who have high percentages of people who lose money when trading CFDs, only 69.10% of traders using XM lose money when trading CFDs.
In addition to the low trading fees, XM is a safe broker because they are regulated by:
The fees for XM vary depending on what you are looking at, but we will go through the main points we think are important here;
Trading fees at XM are low. They have three account types at different prices. The Standard and the Mirco accounts charge higher spreads, but the XM Zero account has lower spreads with a commission.
As for CFDs, the fees are generally low. Usually, they are the same as competitors and, in some cases, more moderate. Their forex fees are average when compared to most of the broker companies on their level. They have real stock fees that are dependent on the stock market.
In addition to all this, they have a low minimum deposit of $5. Where most of the brokers you use have MetaTrader 4 only, HotForex has both MetaTrader 4 and MetaTrader 5.
There are no deposit or withdrawal fees when it comes to XM. The only exception is when you are withdrawing via bank wire transfer for amounts below $200.
The company was founded in 2006 in the U.K. and has executed more than 250,000,000 orders. In 2017, they were voted the most trusted forex brand in the U.K. At the moment, they operate in 173 countries and have more than 870,000 client accounts and €100 million of Tier 1 capital.
Some of their unique features include an algorithmic trading center that works well with cTrader. With this, youll create your trading strategies and custom indicators. They even have a virtual private server (VPS) that permits the clients to upload and run MT4 Expert Advisors and algorithm robots 24/7 without having to stay the trading terminal active.
As for the choices you get when you use their services, you will find that they offer:
They will provide you with all this and also offer you both CFD and spread betting. With spread betting, youll get tax advantages as a U.K. citizen. Not only do they need of these great options, but their customer service is additionally excellent. The support is multi-lingual, available 24.5. The live phone network works well with a toll-free number within the U.K., France, UAE, Germany, and Russia.
Because of the range of forex pairs and the opportunity to trade equity indices, commodities, and futures, FxPro is head and shoulders above IC Markets, in this respect.
Many brokers come into the market now and then, but few can rival the way that ETFinance made its way into the mainstream. In ourETFinance reviewresearch, we found that it established itself in 2016 under the Magnum FX umbrella, the company has grown to over 10,000 users with a wide range of assets, indices, stocks, commodities, and cryptocurrency
In the few years that the company has been in operation, they have won several awards. Most notable is theFinance Magnate London Summit Awards Best Multi-Asset Trading Platformin 2016. Ourforex broker reviewsnever fail to mention awards, as they are essential in getting to know the competency level of a company.
In comparison with the rest of the brokers on this list,ETFinancereal accountseems to lack the things that make up the main attractions, including; regulation by multiple bodies, transparent fees, and other relevant information.
The minimum of trade varies, depending on the account that you will open. ETFinance calls itself a market maker and therefore has lower entry requirements when compared to ECN brokers who have higher volumes of trade and need more capital.
All this will be clearer when you use theETFinancedemo accountto learn how it all works.
Margins vary depending on the trader, accounts, and instruments available. At ETFinance, the leverage of CFDs works the same way as anywhere else. You will be in charge of what to do with your money.
As always, it is recommended that you do short- and medium-term trades. Even with one of thebest forex brokersin the market, caution is advised.
ETFinancetakes customer support seriously and provides it in English, German, Dutch, Spanish, Italian, and Portuguese. They have an A-grade support system because they do their customer support in more than three major languages. Our forex broker reviews shows us just how this can be very useful.
The live chat works well, and you can send messages to them and receive responses almost immediately. There is a lot that they can brag about when it comes to the services that they offer.
In 2019, they won the Global Banking & Finance Award for Best New CFD broker in Europe. This is an achievement that they credit to an individual approach to all their clients. Their website says that they know every customer comes from a different background, industry, and has different financial capabilities.
This is why they do not try a one-size-fits-all approach believing it to be bad for business and bad for customers as well.
Using their accounts, arranged in terms of suitability, will allow you as a customer to get the most out of the trading experience you will have with ETFinance, as ourforex reviewsshow.
To create this table took several months, several experts, and a mountain of data. By comparing the online brokers regulated by ASIC, FCA, CySEC, and other regulatory bodies. We created a list by looking at all the suitable broker that we could find with credible credentials and good records.
With comparisons, we were able to tell what each one of them had to offer. We could also know what the edge was, for all of them. We looked at the fees like rollover rates, CFDs fees, and other essential things, including commissions.
Our mission here was to make a comparison of brokers in Australia that are suitable for all kinds of traders (beginners, intermediate and experts alike).
We focused on the following main points to make sure that the comparison was as fair and accurate it could be:
With only a few weeks to look through, we eliminated the ones that had glaring problems like not being regulated by ASIC. After that, it was easy to know what to focus on and what to leave out. In the mid-level range of brokers, these are the ones that stand out in almost all the essential aspects.
To get an accurate picture of the customer support, we not only looked at the review of traders who use the platforms, but we also looked at data provided by the following regulatory bodies just to be sure:
All the information provided here is accurate at the time of compiling this comparison table and review.
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CFDs and trading in forex on margin, carries with it significantly high levels of risk and might not be compatible for all the investors. It is possible to lose some or all of your money and investment. Do not invest what you are not able or willing to lose. Practice caution and see financial advice when unsure because what we offer here is NOT financial advice. We provide objective and unbiased reviews, analysis and commentary. We verify some of our data for quality control but there are slight variations occasionally. Any and all partnerships with industry regulars are not and should not, be viewed as an endorsement or recommendations by , even though we may be sponsored by some of the brokers. We are not liable for losses that resulting from the information provided on our site.