Are you interested in trading currencies online? If so, the first step is to find a good forex broker. A forex brokers allows people to open accounts and trade on markets worldwide. These brokers are usually for-profit companies, so they charge fees for transactions or other services provided. There are many different brokers to choose from, so it can be not easy to find the right one for your needs.
That’s why we’ve created this article – it will help you find the best forex brokers for your needs. We’ll discuss the different types of brokers available, then move on to the features that the best ones offer. Finally, we’ll give you our top three recommendations for the best forex brokers!
Types of Forex Brokers
There are 5 main categories of forex brokers. These include:
– Full service – A full-service broker provides customers with the opportunity to trade on some or all currency pairs, as well as access to a variety of trading tools and resources. They also offer customer support and advice on how to trade currencies. Full-service brokers usually have high fees, offering the best trading experience.
- Discount – A discount broker offers customers the ability to trade on a limited number of currency pairs at low costs. They do not offer customer support or advice and typically have fewer trading tools and resources than full-service brokers.
- Dealing Desk – A dealing desk broker is a forex broker that trades against its customers. This means that the broker makes money when its customers lose money. Dealing desk brokers usually have high fees and are not recommended for beginners.
- No dealing desk – A broker does not trade against its customers. This type of broker typically has low fees and is a good choice for beginners.
- Automated – An automated broker is a forex broker that uses computer algorithms to trade currencies. These brokers have low fees and are a good choice for experienced traders.
Features of the Best Forex Brokers
The best forex brokers offer a variety of features that can be helpful for traders. These include:
- Low fees – The best brokers have low fees so that you can save money on every trade.
- A wide selection of currency pairs – The best brokers offer a large selection of currency pairs, so you can trade the currencies you’re interested in.
- A variety of trading tools – The best brokers offer a variety of trading tools so that you can trade currencies successfully.
- Customer support – The best brokers, provide customer support, so you can get help when you need it.
Reviews Our Top Three Picks for the Best Forex Brokers
Now that you know what to look for in a good forex broker let’s look at our top three picks. These brokers offer the best combination of features, low fees, and customer support.
- eToro review – eToro is a social trading and investment platform that allows users to trade stocks, commodities, indices and currencies. eToro was founded in 2007 by two brothers, Yoni and Ronen Assia. eToro is headquartered in London, England. eToro is one of the most popular social trading platforms available today. It has over 10 million users from around the world. eToro offers a wide variety of tradable assets, including stocks, commodities, indices and currencies. eToro also offers a wide variety of features, including its CopyTrader feature, which allows users to copy the trades of other traders on the platform.
- NordFX review– With low fees and a wide selection of currency pairs, this forex broker is one of the best options available. Best of all, NordFX offers a variety of trading tools and resources to help you trade successfully.
- Tickmill review- This broker is also a great choice for traders. It has low fees and a wide selection of currency pairs. Tickmill also offers customer support and access to trading tools and resources.
eToro was one of the best forex brokers in 2018. It can be hard to choose which broker you should use for your trading needs with so many options available. We’ve compiled a list of top-rated brokers based on various criteria and have ranked them accordingly with our findings below. You may find that this research will help you make an informed decision about where to trade next! What are your thoughts? Do you agree or disagree with our ranking system? Let us know what other information we need to include when evaluating these companies by commenting below!