We have conducted our surveys to aggregate the best forex brokers since 2008. When comparing brokers, we consider many qualities of the brokers and how we compare them. The below information can help you find a great and reliable fx trading broker.
The best forex brokers can be found when we compare brokers in these following categories:
Our broker ranking allows clients to choose brokers based on regulations, platform choice and trading conditions.
A regulated broker is the one who has acquired a forex regulation from the financial organization. These organizations are very strict when it comes to regulation so if a broker is regulated by them, they are good to do business with.
Spreads indicate that the buying and selling prices of the currency pairs are far away from each other or not. Spread is measured in pips. To maximize profits, traders always find the brokers with the lowest spreads that are applied to the pairs they choose.
Leverage is a tool that acts like an amplifier for profits in forex trading. It amplifies the transaction size for retail traders to engage in.
In cases where the traders can increase the trading size to a maximum of 500 times, the leverage is used in a 500:1 format. The brokers rely on their experiences to reserve the right to limit client’s leverage.
Every broker has different types of accounts, the main difference between accounts is between Live (real) accounts, Demo accounts and ECN accounts.
These are accounts where the funds are real and everything you do in this account type will affect your account balance.
The funds of these accounts are fake, traders will not face any risk. This provides the service experiences to the clients. However, a few demo accounts can be limited in time but traders can reactivate them easily.
Now you know the answer for “How do I know which one is the best forex broker?” you can check our list of the best forex brokers this year here.