Top 10 Online Brokers for Forex Trading

Advertiser Disclosure	Features We Like	Rating	Risk Warning
1 Excellent	The pioneer of Social Trading is now offering an exclusive opportunity for investors who want exposure to the most popular cryptocurrencies like Bitcoin, Dash, Ethereum and more. Trade crypto 24/7 at eToro! World's Leading Social Trading Platform Proven Track Record of Security Unlimited Daily Withdrawals Min. Deposit of $200 to Get Started Instant Trade Execution	9.9 Our Score Read Review	VISIT SITE 68% of retail CFD accounts lose money
2 Excellent	Ally Invest has some of the industry's lowest trading fees with no minimum to open an account and no hidden fees. Ally offers a wide range of platforms for both self-directed investors, as well as traders who want more guidance Low Commissions Low Fees on Options & Bonds No Downloads Required Auto-Balancing of Managed Portfolios	9.7 Our Score Read Review	Visit Site
3 Very Good	Fidelity is a broker that knows what its clients want, providing a sophisticated, sharp, and innovative trading experience across a range of markets. From investing to financial planning, Fidelity gives you everything you need. Low Minimums & No Annual Account Fees Straightforward Competitive Pricing Expert Insights & Investing Tools Available	9.4 Our Score Read Review	Visit Site

T&C's apply to each of the offers above, click "Visit Site" for more details.

Risk Warning: Users should be aware that all investment markets carry inherent risks, and past performance does not assure future results. Trading of any kind is a high-risk activity, and you could lose more than you initially deposited. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 73-89% of retail investor accounts lose money when trading CFDs. Please be sure you thoroughly understand the risks involved and do not invest money you cannot afford to lose. Your capital is at risk. Advertiser Disclosure: TopBrokers.Trade is an independent professional comparison site funded by referral fees. The compensation TopBrokers.Trade receives is derived from the companies and advertisements featured on the site. Due to this compensation, we can provide our users with a free comparison tool. Unfortunately we are unable to list every broker or exchange available, however, we do our best to review as many as possible.

Our Top Recommended Brokers

The pioneer of Social Trading is now offering an exclusive opportunity for investors who want exposure to the most popular cryptocurrencies like Bitcoin, Dash, Ethereum and more. Trade crypto 24/7 at eToro!	9.9 Brokers Rating Read Review Excellent	Demo Account: Yes Accepts PayPal: Yes Min Deposit: {currency}200	VISIT SITE 68% of retail CFD accounts lose money
Ally Invest has some of the industry's lowest trading fees with no minimum to open an account and no hidden fees. Ally offers a wide range of platforms for both self-directed investors, as well as traders who want more guidance	9.7 Brokers Rating Read Review Excellent	Demo Account: No Accepts PayPal: No Min Deposit: None	Visit Site
Fidelity is a broker that knows what its clients want, providing a sophisticated, sharp, and innovative trading experience across a range of markets. From investing to financial planning, Fidelity gives you everything you need.	9.4 Brokers Rating Read Review Very Good	Demo Account: No Accepts PayPal: No Min Deposit: None	Visit Site

The Beginner’s Guide To Forex Trading

Forex trading is when you speculate about the price of one currency against another currency. For example, if you think that the Euro will rise against the US Dollar, then you can purchase the EUR/USD currency pair at a low price and then, hopefully, you can sell it at a higher price and make a profit. If you buy the Euro against the Dollar (EUR/USD), and the Dollar strengthens, then you’ll be in a losing position.

There are different factors that influence forex prices. These factors include interest rates, inflation, employment figures, government policy, and the demand for imports and exports.

Because of the volume of currency traders and the amount of money that is exchanged in forex trading, the price movements can happen very quickly. Therefore, while there are many currency trading opportunities, forex trading is incredibly volatile.

How to choose an online broker for forex trading

Since there are hundreds of different forex brokers available, the choice can be overwhelming. Your money’s security is the most important concern when getting involved in forex trading. You should be able to withdraw your money whenever you want to.

Consider your tech needs and trading style

Beginners to forex trading may not plan to trade as frequently s others. In this case, you should try to avoid the brokers that charge a fee for inactivity if you do not meet a specific minimum number of trades per month, quarter or year. You should look for the brokers that offer the types of investments that you want for forex trading at the most feasible price. At this stage, you probably will not need all the extras, such as an advanced trading platform.

On the other hand, active traders will want an online trader that supports that amount of frequency. This includes weighing the trading platforms of a broker, analysis tools, data and research offerings as well as commissions, and fees.

Because there’s so much competition in the Forex (FX) market as well as having countless brokers to choose from, it can be difficult to know which online FX Broker will be best for you. Beginners have different needs than more advanced traders, so these are a few key points we suggest keeping in mind when making your decision:

Regulation

Each country has its own regulatory body such as the Financial Conduct Authority (FCA), in the UK. The regulatory body develops rules, services and programs to protect the integrity of the market, traders, and investors as well as the brokers themselves, and to help members meet regulatory responsibilities. Due to potential safety concerns regarding deposit, accounts should exclusively be opened with firms that are regulated.

Customer Service

Online FX Trading takes place 24 hrs a day, so customer support should be available at all times. Ideally, you will want to speak with a live support person rather than a time-consuming auto-attendant. Give a quick call to the customer service centre to get an idea of the type of customer service provided. Check on wait times and find out the representative’s ability to answer questions regarding spreads and leverage, their trade volume, as well as company details.

Account Types

Your ideal FX broker should be able to offer either multiple account options or an element of customizability. Look for an online Forex Broker that offers competitive spreads and easy deposits/withdrawals. Find out if there are account options specifically for beginners and if so what that account offers to benefit new traders.

Currency Pairs

An online Forex Broker can provide a huge selection of forex pairs. However, it is most important is that they provide the variety of pairs that interest you. While there are many currencies available for trading, there are only a few get the majority of the attention, and as the result, trade with the highest liquidity.

Tradeable Assets

While selecting the best FX Trading Broker for you, it’s possible just to concentrate on Forex trading. However, you should keep in mind there are many types of investment alternatives offered as well, such as Bitcoin and other popular cryptocurrencies, Stocks, CFDs, ETFs, or trading in options or futures.

Platform Type

The trading platform is the investor’s portal to the markets. So with that in mind, look for a platform that is easy to use, straightforward and offers an advanced collection of analytical and technical and tools, to enhance your trading experience.

For more information, please see our tutorial: What is Forex?

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