Forex (foreign exchange) trading is an exciting ride that’s in a constant state of change, which opens it up to volatility. However, unlike cryptocurrency volatility, the market is influenced by political moves and social pressure, making it easier to guess the likelihood of trade success. To begin forex trading, you will need to decide on a broker, which is where you will make trades. To help you out, we’ve gathered together the best platforms and given each one a rating.
HF Markets
HFM is regarded as the best broker for trading forex. As well as this, changes in the company brought improvements to its platform, including the MetaTrader suite, which has now been enhanced by FX Blue Labs.
Rating: 5/5
eToro
eToro has been around since 2007 and is an excellent low-risk broker, which is regulated in tier 1 and tier 2 jurisdictions. Forex trading is fantastic on eToro, which has access to countless markets. This platform also recognizes the need to have a solid plan in place when forex trading, which is why they facilitate the ability to mimic the moves of prominent traders.
Rating: 4/5
Pepperstone
Pepperstone joined the race a little later, entering the scene in 2010. This broker supports the use of cTrader and MetaTrader, which makes it extremely versatile. Before making trades, you can sift through an extensive library of industry research, which will help you learn how to trade and improve your odds. When it comes to education, you will find a range of materials, but it doesn’t come close to competitors IG and Saxo Bank.
Rating: 4/5
IG
IG is a fantastic platform for beginners because of its enormous collection of training materials, which includes quizzes. Making trades on this platform is relatively easy, thanks to the simplicity of the user interface. However, the average cost of trading through this platform is slightly higher than others. That being said, you would have access to 11 trading platforms, three account types, and over 15 trading tools. Additionally, the availability of assets is limited, making it slip down this list when it comes to quality.
Rating: 3/5
XTB Online Trading
XTB typically focuses on CFD broking, but that doesn’t mean there’s no support for EFT, even if it does come with a cost. Traders looking to diversify their portfolio should consider starting a free trial, allowing you to simulate trades and get a better feel. When it comes to security, XTB online has established trust by surviving all crises since 2002. Additionally, being part of the Warsaw Stock Exchange and the UK’s FCA means that it’s safe from actions of fraud and over issues.
Rating: 3/5
Forex trading presents plenty of opportunities to gain large returns, but there are plenty of risks involved as well. Having trust in your chosen broker is key, as it will fill you with the correct confidence to trust your assets in their care.
Santosh Kumar is a Professional SEO and Blogger, With the help of this blog he is trying to share top 10 lists, facts, entertainment news from India and all around the world.