In order to trade Forex, it is crucial to have an online broker that not only makes your trade activity easy, convenient, and secured but also thriving. Each year, survey teams go around the clock to test the biggest names in the market to make a list of the best Forex brokers rating for the year. These top-rated, officially registered brokers have been tried and tested by a massive number of people, further solidifying their positions on this rating list.
Regulated and trusted across the globe, IG offers traders an extensive list of tradable products, excellent trading and research tools, industry-leading education, and competitive rates. This fantastic all-round experience makes IG our No. 1 overall broker this year.
• Saxo Bank
With competitive pricing, excellent trading platforms, quality research, reliable customer service, and over 30,000 CFDs offered, Saxo Bank provides traders a complete package worth being a customer for, under a global brand they can trust.
• CMC Markets
Through its offices regulated in major global financial centers, CMC Markets offers traders a wide range of offerings with excellent pricing and its Next Generation trading platform, which is packed with innovative trading tools and charting.
The Best Forex Broker in the World
Choosing the best Forex broker to facilitate trade can be a difficult task, especially if you don’t know what to look for. Just picking the first broker from the list may not be the best idea too as each may have different features and requirements that may go against your needs. Brokers offer different trading options. You can make money on forex swap or use other features.
Therefore, we look into some pointers that can help you identify the criteria to help you choose the best Forex broker.
One of the first and foremost characteristics to look out for when selecting from the Forex brokers rating list is to identify the credibility of the broker. Regulatory agencies have been established worldwide to separate the trustworthy from the fraudulent.
• Transaction Costs
No matter which broker you’ve chosen or what kind of trader you are, you will always be subject to transaction costs.
When you commence a trade, you will have to pay for either the spread or a commission, so it is only natural to look for the most affordable and cheapest rates.
When choosing with the Forex brokers rating in mind, make sure you know if you need tight spreads for your type of trading and check the options available. After all, it all comes down to balancing between security and low transaction costs.
• Deposit and Withdrawal
A good Forex broker will allow you to deposit funds and withdraw your earning with no other strings attached. Top-rated brokers shouldn’t have any reason in making withdrawing profits difficult as the only reason they hold your funds is to facilitate your trading. The best Forex broker makes the withdrawal process typically easy and smooth.
• Trading Platform
In the online trading world of Forex, most activity takes place in the broker’s trading platform. The best Forex broker also comes with an equally excellent trading platform.
While the trading platform must be user-friendly and stable, the best forex platform must also have more to offer while presenting itself with all the information you need to trade correctly. Some trading platforms offer free news feed and charting tools.
Your broker must fill you at the best possible price for your orders, especially under normal market conditions. An example would be if you were to buy the currency pair EUR/USD for 1.3000, you should get filled at that price or within micro-pips of it.
• Customer Service
Of course brokers aren’t perfect, but you must pick one that you could quickly contact when problems arise. The best brokers are competent in dealing with issues of an account or technical support.
These are the most fundamental criteria that one should look for when choosing the best Forex broker. Do keep in mind that comparing a broker to another isn’t the same as finding the difference of its qualities to the other; instead, it’s about whether it’s the platform, tool, or research requirements cater to your needs. Whatever it may be, there’s a broker out there that will fit the bill.