IG also has an inactivity fee for all clients who are inactive for two years. It is a private company and therefore not listed on any stock exchange. If you are an experienced forex trader looking for solid research and a well-equipped desktop trading platform, we definitely recommend TD Ameritrade. It has a first-class web trading platform and superb educational tools. NFA also offers an outstanding online resource with profound information on brokerage scams, banned companies, penalties, and not forgetting essential information about U.S financial markets. First, all brokers are required to promote the integrity of the financial and FX markets by practicing transparent market practices. NFA allows fair competition among brokerage firms but all promotional and advertising materials should give information that will not mislead traders.
- Vantage FX has a strong MetaTrader trading platform, a mobile app for easy use, and several other trading platforms.
- This broker does not ask for a minimum deposit, nor does it charge withdrawal fees or account fees.
- These independent platforms are licensed by brokers according to their trading products and their overall brokerage budget.
- Their team is ready to help you 24/5 via phone call or email, but don’t expect to find a dedicated “live chat” button.
- That said, there’s much for more experienced forex traders to like too, particularly if the need to trade strikes when you’re away from your desktop.
MetaTrading is the primary purpose that FX Choice serves and this form of trading rarely has any difference between different platforms. So, the strength of FX Choice lies in its set up but at the same time, it has multiple areas where it can improve its offerings. When you Forex news trade forex, you need a broker to execute your trades, but the broker may not always be acting in your interest first. There are a couple different kinds of models – a dealing desk and an agency broker – and they have different incentives as they’re executing trades.
Account Base Currencies
The process for becoming an FCA regulated FOREX broker is no walk-in-the-park, which is why it is worth shortlisting brokers who are willing to comply with FCA regulations. The Financial Conduct Authority is responsible for regulating FOREX brokers, and it is a very good idea to limit your choice of brokers to firms that are fully regulated here in the UK. However, for this example, we will use the classic lot size of 100,000. We only recommend brokers that are licenced, regulated and reputable. We not only look for low fees but how fees compare across assets to ensure you’re never paying over the odds.
This makes ZuluTrade a quite unique platform, but it comes with its own set of disadvantages as well. While it has existed for a short period of time, ZuluTrade already dotbig review has a million users and executed over $800 billion trades per day. Ninja Trader is a very beginner-friendly forex trading broker and it sports a large user base.
Wrapping Up: Which Is The Best Forex Trader?
Some broker reviews might not paint the complete picture, while others are targeted at misleading clients just to make profits. You can go through multiple reviews and do your own research before making your decision based on your findings. In essence, instead of trusting any reviews blindly, you should also complement all the online information with research of your own to stay safe against https://www.tdameritrade.com/investment-products/forex-trading.html broker scams. Regulated Forex brokers are required to follow a broad range of anti-money laundering laws and other financing restrictions due to the inherent risks of overseas financial transactions. From our extensive experience of dealing with various Forex brokers, we understand that the safety of funds and the speed of transactions are far important than other qualities of FX brokers.
One downside for American traders is that many top forex brokers are based in the U.K. And simply won’t accept them as clients because of their citizenship. Robinhood doesn’t offer traditional currency trading, but it does bring the slick, easy-to-use interface it’s known for to the crypto https://www.capterra.co.uk/software/1035824/dotbig space. Here clients can trade a range of cryptocurrencies, including some of the most popular such as Bitcoin, Ethereum, Litecoin and Dogecoin, among a total of seven types of cryptos. Below are some top forex brokers, including a couple that allow customers to trade cryptocurrencies.