fbpx

Forex Broker

Forex Broker
Forex Broker2018-11-13T05:17:30+00:00
"

What is a Forex Broker? 

Forex broker is a firm who buys and sells an asset to make a profit. With them, currency traders are given access to different trading platforms where they can buy and sell foreign currencies. Forex broker is also known as currency trading broker or retail Forex broker. Forex brokers hold a small portion of the whole foreign exchange market. It is through brokers that traders have access to the currency market whenever and wherever they are. 

Max. Min.
Broker Leverage Deposit
FXTM 1:500 $5Register

Review

HYCM 1:200 $100Register

Review

XM 1:500 $5Register
FBS 1000:1 $5Register

Review

FXChoice 1:200 $100Register

Review

InstaForex 1:1000 $1Register

Review

easyMarkets 1:400 $50Register

Review

Alpari 1:1000 $200Register
HotForex 1:1000 $5Register

Review

Top Forex Brokers

FXTMFXTM – FXTM (ForexTime) is a licensed and regulated Forex and CFD trading broker owned by Trading Point HoldingsLtd. The broker was established in 2012 and since then have been very outstanding in the forex trading industry, winning several awards since it was established.

 

HYCMHYCM – HYCM is a large forex broker based in London. HYCM are part of a larger conglomerate known as the Henyep group. The Henyep group provides a range of financial services to investors of all kinds. Brokers can trust HYCM’s 30 years’ experience and well-known credibility in the space.

HYCM are part of the global conglomerate Henyep Group which handle a wide range of financial services. Therefore, investors are guaranteed to be choosing a broker that has a strong pedigree within the industry thanks to their 30 years of experience.

 

XMXM – XM is an international Forex broker which is the registered trade name of Trading Point Ltd. It was established in 2009 under the regulation of CySec and is registered under FCA. 

It operates under the full authorization of the European Union which makes all its companies in the UK and Cyprus covered by a compensation scheme, but on the other hand, brokers from Australia are not under any compensation scheme.

 

FBSFBS – FBS is an award-winning and one of the leading Forex broker established in 2009 by FBS Markets Inc. Among the awards bagged by FBS is Best Customer Service Broker Asia 2016 and Highly Recommended Broker Insurance of the Year in Indonesia. 

They are highly known and is commendable because of the wide choice of trading accounts including a demo account that they offer. They have taken a big step in 2017 as FBS got its license to operate in Cyprus which is one of the most popular destinations for Forex brokers.

 

FX ChoiceFXChoice – FXChoice is an award-winning Forex/CFD Broker owned by FX Choice Limited. The broker has been in the industry for a while now as it was established in 2010. Their Major Users are private clients, fund managers, and institutional investors.

They’re notable for their great customer service as they’ve been awarded the Exceptional Customer Service Award by LiveHelpNow on several occasions.

 

instaforexInstaForex – InstaForex is an award-winning Russian ECN broker operating since 2007. Since 2007, it has received awards not lower than 35 all in all. It is a highly regulated broker which offer a safe, secure and fair trading for clients. It is regulated in multiple jurisdictions and an excellent selection of trading platforms.

It provides clients with the avenue to participate in the most lucrative online trading markets. It is owned by InstaForex Group Ltd. in Russia and has more than 250 offices located all over the world.

 

easyMarketseasyMarkets – Established in 2001 in Cyprus, EasyMarkets is on online broker registered under the trade name Easy Forex. It was re-branded last December 2015 for a new look and to show everyone that it is more than just an online marketer. EasyMarkets offer one simple trading account to their clients which is over 100,000 as of writing. 

Furthermore, it has received several industry awards too as their quest for one of a kind trading experience for their client goes on.

 

HotforexHotForex – Established last 2010, HotForex is an online broker which have changed the trading industry during the past years. It was established in the Republic of Mauritius and has been an online trading platform which has been a customer-centric since then. 

They are very much known in the industry and in fact, they are one of the leading online brokers because they never ceased to deliver the services that their clients need, specifically, they deliver product and services that are tailored to meet the need and standards of their clients. With that being said, HotForex has earned the limelight in the trading industry and has been known as one of the most reputable and successful online brokers.

 

PepperstonePepperstone – Pepperstone is an online forex broker established in Melbourne in 2010. It offers a total of 61 currency pairs and 33 CFDs in total. It is a no desk broker for all trading styles in as much as it has won several awards throughout the years. Such awards include the fastest growing company in Australia 2014 by BRW Magazine and the Governor of Victoria Export Awards in 2014.

 

AvatradeAvaTrade – Avatrade is brokage company owned by Ava Capital Markets Ltd and was established in 2006. They operate in over 150+ countries excluding the US. They own offices around the world and are fully licensed and regulated Globally. AvaTrade Specialize majorly in ForexCFD Trading and Cryptocurrency.

The brokage company has been able to build a reputation in the industry as they have won several awards since they were established in 2006.

 

Vantage FxVantage FX – Vantage FX is an online Forex broker based in Australia way back 2009. It has received numerous awards
and is known as one of the top online brokers not only in Australia but all over the world. It has earned and provides its clients with a safe and transparent trading since then in as much as it offers them advanced online trading services.

 

Grand CapitalGrandCapital – Grand Capital is an award-winning broker which was established last 2006 in Russia. Grand Capital is owned by Grand Capital Ltd. which is a company registered in Mage, Seychelles and is regulated by FinaCom. 

Grand Capital has won several awards during its 12 years of existence. Some of these awards include Best Standard Forex Broker and Best Micro Forex Broker. Such awards are an evidence of the quality service that they provide. They have offices in various cities around the world including the major cities in Asia and Europe.

(Your Capital is At risk)

How are Forex Brokers compensated?

There are two ways on how Forex brokers are compensated.

  1. Bid-ask spread of a currency pair – Simply, this is done by buying and selling foreign currencies. For example, the broker bought Euros for 2.1020 USD. Simultaneously, he also sells Euros for 2.1030 which makes the spread equivalent to 20 pips.
  2. Transaction fee – Brokers charge their clients with fees every time they make a transaction, thus they make income out of it. But nowadays, brokers make little income out of the fees due to the tight competition between brokers. As the competition gets tighter, the charges get smaller and smaller in order to attract more clients.

Major currency pairs are offered to clients by Forex traders, It is the clients choice on what currency pair he will use. Furthermore, Forex brokers allow their clients to use emerging market currencies when trading.

As soon as a client signs up an account with a broker, a minimum initial deposit is required. This is done to ensure that this client won’t run away easily or simply, the deposit is a collateral. On the other side, clients can trade much more than what they have in their account through leverage.

For clients, it is very important to know every detail available about the Forex broker before opening a trading account with them. This procedure is very important in order to know if the broker is the one suited with what you want or not. This will also save you from any regret in the end.

Moreover, most Forex brokers offer a demo account which is exactly the same as their live trading account. It is a good idea to try out everything offered in their demo account to have a grasp of their system in as much as to enhance and familiarize yourself with trading. Try out as many trading platforms as you can from different Forex brokers before choosing the broker that you are going to use. Make the best out of the demo account offered as this will give you an impression on how and what trading with them feels like.

Lastly, it is very important that you look after how Forex traders care for their customers or clients. Most Forex brokers offer support to their clients 24/7 through different channels and languages. Read reviews about them if possible to have a wider understanding of how they work as a Forex broker.

"