Forex for a trader
Best forex trading platform for low cost

Best forex trading platform for low costThe Best Forex Trading. The sheer size of the forex, or foreign exchange, market dominates all others — even the stock market. Every payment that crosses currencies contributes to its fluctuations and its momentum. And without a centralized marketplace, forex activity buzzes practically without cease, with traders waking up and doing business everywhere, in every time zone. To get a piece of the action, you need a forex brokerage with best-in-class trading technology and stellar support. We gathered a list of 65 forex trading brokers and narrowed it down to the best 5 by analyzing research features, customizability options, and trading platforms. Thinkorswim is the best option for U. S. traders looking to trade forex and multiple other products. Its robust and powerful platform puts every imaginable forex trading tool at your fingertips, but the level of advanced features may not be ideal for beginners. January 19, 2018 - Increased regulation coupled with higher capital requirements have forced several forex brokers to leave the playing field, making it in some ways easier to find the very best. We’ve revisited our top picks, eliminating old contenders and evaluating the stand-out strengths of the remaining firms. The Best Forex Trading.

Other to consider. Other to consider. Other to consider. Other to consider. How We Found the Best Forex Trading. All good forex brokers update account information in real time, display balances, and provide history reports and statements. But exceptional brokers offer trading technology boasting a broader spectrum of features — from alerts to automated trading — helping you to execute simple and advanced trades strategically. To make it to the top of our list, forex brokers needed to provide customizable interfaces and interactive charts. We also wanted technology that’s not desktop-bound. As mobile trading continues to grow, the best brokerages make high-performance, on-the-go research and trading tools as powerful as traditional platforms.

We prioritized brokers staying ahead of the curve with dedicated, well-functioning apps compatible with a variety of devices. On top of those basics, we kept an eye out for responsive client support (how easy is it to get help and guidance when you need it) as well as introductory incentives (things like special offers, free demos, and referral programs). Both are attractive reasons to start trading with a given firm, especially when you’re first getting started. But the standard practices of the brokerage outweigh any first-timer perks in the long run. Here are a couple of key features we looked for. Major Currency Pairs are the most important, most traded worldwide currency pairs available through a forex broker. They consist of currencies from the world’s most developed economies including Europe, Japan, Canada, and Australia. A major currency pair is created when one of these currencies is traded against the U. S. dollar. Examples include Euro vs. the US Dollar (EURUSD) and the US Dollar vs. the Canadian Dollar (USDCAD). Major Currency Pairs is an important category because these pairs represent the most heavily traded and liquid currency markets for any forex trader. Cross Currency Pairs includes secondary currencies traded against each other and not against the U. S. dollar.

Examples include Euro vs. the Japanese Yen (EURJPY) or the British Pound vs. Swiss Franc (GBPCHF). Most reputable brokers offer this category of trades, and it’s especially important for a forex trading account denominated in a currency other than the U. S. dollar, or for more advanced traders exploiting discrepancies between other economies. Research is an important category for traders looking for assistance or seeking confirmation on a trade. Forex brokers provide clients with the resources to understand market activity and make fast, informed choices, with advanced charting capabilities, third-party research, research reports, and market commentary. Some forex brokers also offer access to historical data so traders can back-test strategies before allocating real money. (Experimenting with virtual trading, if it’s available, is another good way of getting your feet wet.) We also wanted to see educational resources — opportunities to learn more about forex trading and platform navigation via articles, videos, and webinars. Additionally, the best forex brokers provide a superb trading community to facilitate the exchange of trading ideas. Support should be available during all trading hours through multiple channels including live chat, email, and phone. Our Picks for the Best Forex Trading. thinkorswim A full-service brokerage for savvy investors - trade forex alongside other investment products all from the same account. Part of TD Ameritrade, that vast online brokerage, thinkorswim enables you to trade forex, stocks, futures, and options all from one account. Save time and keep abreast of your diverse portfolio without the hassle of switching between windows and platforms. Even better, these combined tools are available through just about any device. You can even customize alerts for on-the-go trading.

One trading perk we’re not seeing: automated trading. That feature is only available if you subscribe to their newsletters, which are focused on options trading. Thinkorswim sits among the top forex brokers in terms of tradable currency pairs, allowing experienced traders or international traders to get a part of currency fluctuations in more obscure economies. While thinkorswim provides a ton of virtual and in-person support (unique amongst online firms), the complexity of its trading platform may be overkill for beginners. Same goes for the lofty $3,500 minimum deposit. Check out Ally Trading if you’re a forex novice. Costs and Fees. Forex Trade: $1.00 + $0.10 per 1,000 lot Forex Trade Cost Type: Flat and pips Futures Trade: $2.25contract Minimum Deposit: $2,000 Options Trade: $9.99 + $0.75contract Stock Trade: $9.99. Trading Details. Clearing Method: Dealing Desk Maximum Leverage (International): 50:01:00 Maximum Leverage (U. S.): 50:01:00. Ally Invest Smart tools for sophisticated trades, without classing out investors new to forex. Ally Invest makes it easy to get started trading forex even if you’re operating on a budget, providing low minimums and tight spreads. You can start trading with just $500 in your account. The smart and streamlined trading interface also makes it quick and easy to watch trends and make trades. One of the best parts about Ally’s trading platform: the intuitiveness of its layout and functions.

New investors should be able to get familiar with the lay of the land fairly quickly by navigating out from the trading panel. The panel also includes shortcuts: buy and sell with one click. As your preferences develop, you can customize the look and location to suit your trading style. While Ally’s price points are ideal for new traders, the educational resources are somewhat lacking. The site can walk you through the basics, but you’ll need to look elsewhere for courses, videos, and tutorials. You’re also not able to access other investment products within the same account. Unlike thinkorswim, you’ll have to open up and individually access other accounts if you’re interested in trading stocks, options, or futures in addition to forex. Recently, Ally has gobbled up a couple of other key brokerages offering forex: Tradeking and MB Trading. Not a big point of consideration when you’re just looking at company offerings, but it’s a notable factor when looking at financial solidity across the board. Costs and Fees. Forex Trade: $13 Forex Trade Cost Type: Pips Futures Trade: NA Minimum Deposit: $500 Options Trade: NA Stock Trade: NA. Trading Details. Clearing Method: Straight Through Processing Maximum Leverage (International): 50:01:00 Maximum Leverage (U. S.): 50:01:00. ATC Brokers Super customizable and super transparent, a forex brokerage for the serious trader.

High-end trading tools and perks that will be attractive to adroit traders, like a non-dealing desk environment. ATC’s Straight Through Processing (STP) order system posts your order directly to counterparties, taking away the possibility of your broker holding a conflict of interest and trading against you. The advanced platform also allows you to customize and quickly execute orders, moving between analysis to trading without navigating windows. ATC provides backtest trading software to run simulations and testrun strategy, but goes light on other beginner-friendly features. For instance, its high minimum deposit ($5,000) and weak educational resources. Once again, look to Ally Invest for a more democratic entrance to forex. Costs and Fees. Forex Trade: $0.80 Forex Trade Cost Type: Commission Futures Trade: Contact Company Minimum Deposit: $5,000 Options Trade: NA Stock Trade: NA. Trading Details. Clearing Method: Straight Through Processing Maximum Leverage (International): 200:01:00 Maximum Leverage (U. S.): 50:01:00. Forex. com A trading platform exclusively for forex. Excellent for the seasoned and specific investor. Editor’s Note: On February 6th, 2017, FXCM reached a settlement related to the charges brought forth by the National Futures Association (“NFA”) and the Commodity Futures Trading Commission (“CFTC”) to withdraw from the US market. A non-binding letter of intent has been signed with GAIN Capital Holdings (owner of the retail brand Forex. com) to transfer all accounts at no expense to the customer. No date has been set for the transition yet. Powerful tools and robust research make Forex. com a good choice for the seasoned forex trader.

Every portion of the platform and app is customizable, plus provides stellar access to the Electronic Communications Network (ECN). The most attractive aspect of ECN pricing: no middlemen. Lower trading costs and increased transparency are the results. Forex. com is a great option for the dedicated forex trader, but if you’re interested in dabbling in other investment products you’ll need to look elsewhere. Costs and Fees. Forex Trade: $13 Forex Trade Cost Type: Pips Futures Trade: NA Minimum Deposit: $500 Options Trade: NA Stock Trade: NA. Trading Details. Clearing Method: ECN Maximum Leverage (International): 50:01:00 Maximum Leverage (U. S.): 50:01:00. OANDA Not as transparent as some, but chock-full of helpful tools to test, strategize, and perform trades. OANDA serves the forex trading needs of the inexperienced and the experts alike, with a range of user-friendly and robust platforms, desktop and web-based. Both options translate to mobile apps so you’re never far from your investments. Another major bonus: access to historical exchange rate data. Backtest strategies before you trade in one of the largest currency databases across the globe. You can also subscribe to the data feed for even deeper analysis. One downside to OANDA — it’s a market maker.

Setting the bid and the ask price means its protocol stands in opposition to the open pricing and non-interest conflict of an ECN. However, these pricing mechanisms are almost wholly automated, meaning concerns of partiality are largely unfounded. Like Forex. com, OANDA doesn’t provide any products to American investors besides forex. If being able to diversify your interests while staying within the same brokerage is important to you, check out thinkorswim or Ally Invest. Costs and Fees. Forex Trade: $12 Forex Trade Cost Type: Pips Futures Trade: NA Minimum Deposit: $0 Options Trade: NA Stock Trade: NA. The Best Online Stock Trading Sites. How We Found the Best Online Stock Trading Sites. 13 Trading Sites Analyzed. 2 Financial Experts Consulted. The Best Online Stock Trading Sites. We tapped into the expertise of a former day trader and a financial commentator (with 20 years of trading experience) to grade 13 of the best online stock trading sites. To find our top picks, we analyzed pricing structures, dug into research and tools, and took every platform for a spin.

Upfront: There is no one best online stock broker. Each has its own strengths and suits different types of investors and different investment strategies. We’ll help you find the best for your style and experience. How We Found The Best Online Stock Trading Sites. It’s a tumultuous time for online stock brokers. The players have largely remained the same, but between significant cuts in commissions and a few major acquisitions (Etrade acquired OptionsHouse; TD Ameritrade and Scottrade merged; Ally Invest now lives under Ally Bank), the competition is on its toes. We leveraged seasoned expertise to dig into 13 of the most popular online stock trading sites; here's what we found important. Charles Schwab Etrade Fidelity Interactive Brokers Lightspeed Merrill Edge OptionsHouse OptionsXpress Scottrade Robinhood TD Ameritrade Ally Invest TradeStation. Different investors are going to prioritize different things. A day trader, for example, requires speed and flexibility.

A first-time trader may value educational resources and reliable customer support. But one thing every trader should care about is cost. Not paying attention to investment expenses is like revving your car engine while filling it with gas. That's why we spent a lot of time balancing price with what each site offered. Affordable pricing structures. Commissions are typically an investor’s largest expense. In 2016, an unassisted transaction fee averaged about $8. Since early 2017, competitive brokers including Fidelity, E*Trade, and TD Ameritrade trade for as low as $4.95. The number of commission-free ETFs a broker offers also come into play. Overall commision costs can also be affected by new customer promotions. Brokers may give you a chunk of free trades, based on your deposit amount. If your deposit can get you a substantial number of free trades, that can write off otherwise higher per-commission costs. Ally Invest offers small incentives for deposits as low as $500. Fidelity Investments, meanwhile, has a higher barrier for entry — it takes a $50,000 deposit, but then you'll get 300 free trades.

Low fees, as few as possible. We looked for brokers that go light on extra account fees, don’t charge extra to access data, research, and tools, and provide advice for a reasonable rate. Lots of brokers boast amenities like 247 financial experts, but most of those services come at a price. Depending on your strategy, increased fees might just be the cost of doing business, but we aimed to mitigate these costs in our top picks. Seeing your nest egg shrink due to a tough market or bad strategy isn’t fun. It’s worse if you’re also getting dinged by unexpected fees, such as minimum account balance. We tested each brokerage’s platform and weighed in on its standout features, ease of navigation, intuitive controls, and learning resources. Whether you’re looking to make a series of complex trades or to carefully execute your first, intuitive organization and just-in-time pointers are key to a satisfying platform experience. Strong ratings from investment publications. Like any financial institution, an investment brokerage worth its weight has a strong reputation. We took ratings from noted publications like Barron’s and Kiplinger into account when separating the best from the rest.

Our five favorites consistently rank top in both sites' yearly report, which marks brokerages on technology, usability, and cost. The Best Online Stock Trading Platforms. Best Platform for Cheap Trading. Best Trading Platform for Beginners. Best Platform Design. Best Trading Platform for Active Traders. Best Research & Tools. At $4.95 a trade, with no inactivity charge, and only a $50 full outgoing transfer fee, Ally Invest’s fee structure is about as low as you'll find. Even though a rash of brokers dropped their commissions in 2017 to be competitive with Ally Invest’s $4.95 flat rate, Ally keeps its edge with a zero account minimum and enticing discount for active investors — equity trades drop to $3.95 for users with 30+ trades each quarter or a balance of $100,000. While some mobile platforms like Robinhood boast totally commission-free stocks and ETFs, Ally Invest’s platform and resources stand out with quality research and tools, including access to its online trader network. In addition to attractive pricing, Ally offers a quality platform that gives you access to the entire universe of stocks and ETFs. Where some discount brokers focus on only one kind of trader (for example, options traders or high-net-worth investors), Ally Invest provides an excellent experience for investors of all kinds. A focus on discounted costs can sometimes be a red flag for quality, but Ally Invest truly delivers with sophisticated calculators, profit-loss estimators, and more.

Ally Invest also offers a robust research library that incorporates visual slides and interactive media into its market data. We’re not the only ones who think Ally Invest is a remarkable service. Barron’s has given Ally Invest’s past self, TradeKing, at least 4 out of 5 stars for the past 10 years, and Ally continues to rack up kudos for its offerings and low commissions from both Barron’s and other rating sites like StockBrokers. com. Acquisition and rebranding confusion. Previously acquired by Ally Bank, TradeKing has been rebranded into Ally Bank’s own online trading platform, Ally Invest. Much of the interface, low prices, and offerings have remained the same, though some discounts and promotions are no longer available. Education-heavy platform. New investors need two things from their online stock trading platform: an easy learning curve and lots of room to grow. Etrade has both. Its platform boasts a library of educational videos, articles, and webinars for each type of investor.

Once you’ve mastered the fundamentals, read up on market news, reports, and commentary from Etrade analysts. You can also take advantage of one-on-one assistance: Branch appointments are free to book, and online chat tools and 24-hour hotline are there to guide you from anywhere in the world. Low minimum account balance. Etrade does require an investment minimum for new brokerage accounts ($500), which may seem like more than a novice would like to throw in. But you’ll need at least that much to see real growth. And compared to the minimums of traditional brokerages, $500 is an incredibly welcoming threshold. And if you can commit to a $10,000 deposit, you can get 60 days of commission-free trades. Slightly higher commissions. The only real drawback to Etrade: Commission fees start at $6.95. It’s not until investors make more than 30 trades a quarter that the fees drop down to $4.95, which OptionsHouse and Ally Invest offer up front. But while Etrade levies a steeper charge here, there are no surcharges for low-priced stocks or inactivity. Helpful platform for beginners. TD Ameritrade offers two best-in-class platforms, designed for two different types of investors. Both platforms are free to use for any investor with a TD Ameritrade account. The web-based Trade Architect, though often in the shadow of thinkorswim, is streamlined and easy to use. It will appeal to beginning investors, or anyone who prefers a simplified, educational interface.

Its tab-based navigation lets users flip between trading tools and account overview, plus charts, stock screeners, heat maps, and more. Since the company acquired Scottrade, our favorite platform for beginners, in 2016, we predict it will continue getting better at serving junior traders. Powerful platform for pros. Thinkorswim, on the other hand, is a powerhouse designed for the advanced. This desktop application regularly racks up awards for its superior tools and features — research reports, real-time data, charts, technical studies. Things any other broker would charge a premium for. Also included: customizable workspaces, extensive third-party research, and a thriving trader chat room. There’s also a fully functional mobile app. Thinkorswim is a particular standout in options trading, with options-trading tabs (just click “spread” if you want a spread, and “single order” if you want one leg) plus links that explain the strategies on the order page. Its Strategy Roller feature lets investors create custom covered calls and then roll those positions from expiration to expiration. More expensive than discount brokerages. TD Ameritrade has been a powerful player in the online stock trading ecosystem for years.

The flipside to such robust platforms: cost. Even though TD Ameritrade lowered its fees in 2017 from $9.99 to $6.95, pretty much every other major discount broker slashed its prices, too. TD Ameritrade remains one of the more expensive options out there, even with more than 100 commission-free ETFs. Though its pricing structure is more expensive than some of the other discount brokers, there are many traders who think its best-in-class trading platforms. If you already have a firm handle on your investment strategy and want to maximize your profits, OptionsHouse is excellent. What it lacks in some of the investor education features that competitors like Etrade and TD Ameritrade can claim, it makes up with its low-cost, streamlined trading platform. Like Ally Invest, it’s been a longtime leader in rock-bottom pricing, with a $4.95 trade commission, and, unlike many brokerages catering to active investors, no account minimums or inactivity fees. Fees for a single-leg options contract are $5.45 all-in. Plus, if you have $5,000 to invest, you’ll receive $1,000 worth of commission-free trades. Along with competitive pricing, OptionsHouse has one of the most accessible platforms. Clean design and user-friendly tools help make heaps of information easier to digest. And automize: Trigger Alerts lets users set up their accounts to automatically purchase an order based on a particular scenario. For example, you can set an alert to buy any number of shares of one stock if its direct competitor falls by a certain percentage. When that’s triggered, you get an alert on any device that lets you confirm the purchase or ignore in one simple reply.

Tools like tradeLAB help dissect options spreads, with green smiley faces for the statistical probability of making a profit, and red frowns for a loss. OptionsHouse also offers a “dime buyback program” that makes it easy to close any short options without paying commission fees. Great for options traders. While beginners may prefer the in-depth guidance of other platforms, Barron’s named OptionsHouse “Best for Options Traders” and gave it a 4.5 out of 5 stars overall, and a perfect 5 for its mobile performance. Whether you prefer to trade via desktop, tablet, or mobile, its customizable interface seamlessly transitions between all three — though, admittedly, customers seem to either love or hate the app. Some fees are higher than normal. OptionsHouse doesn’t offer currency trading, and has limited commission-free and transaction-free offerings, but its 2016 acquisition by Etrade should help fill in those gaps as the two brokers continue to merge. OptionsHouse also falls short in mutual funds — it charges $20 per trade, as opposed to Ally Invest’s $9.95 — as well as currency trading, and commission-free ETFs, but for the active trader who know what they’re doing, it’s one of the best platforms available. Sleek and high-functioning platform. Fidelity’s platform wins for user-friendly design, with tools to help take the guesswork out of finding funds and nosing out strategies.

Fidelity’s platform lets you explore your options with a slick and intuitive design, complete with color-coded rankings and charts that call out what’s important. You can sort stocks by size, performance, and even criteria like sales growth or profit growth. Want to sort ETFs by the sectors they focus on, or their expenses? Done. There’s even a box to check if you want to only explore Fidelity’s commission-free offerings. A few other discount brokers do offer screeners, but none match Fidelity’s depth and usability. Best-in-class research. When it comes to research, Fidelity is in a league of its own. The intellectually curious can dive into research from more than 20 providers, including Recognia, Ned Davis, and McLean Capital Management. Fidelity’s Learning Center featured videos are organized by topic, but don’t stop after explaining the concept. They cover how to apply principles to your own Fidelity investments.

You’ll need to plunk down at least $2,500 to open an account with Fidelity, and unlocking its promotional offers requires a cool $50,000. Not all tools are accessible to all users. Additionally, some of Fidelity’s advanced tools are only available to high-volume traders: Charting with Recognia requires a significant 120 trades per year to use, and its Active Trader Pro requires 36 trades per year). Guide to Online Stock Trading Sites. Smart investors pinch pennies. Warren Buffett is the best example to hit this point home. In 2008, he bet some hedge fund managers $1 million that they wouldn’t be able to make more money in a decade than a cheap, boring index fund. An index fund uses simple investing algorithms to track an index, and doesn’t require active, human management. Conversely, hedge funds stack management fees on top of trading fees to pay for the time and knowledge actual strategists are putting into your investments. Fees can have a big impact on your net returns — that is, your total investment profits after fees. Let’s say you put $1,000 in a hedge fund and the investment gains 20% to reach $1,200. Based on the standard “two and twenty” fee structure, the fund managers will take $40 of those earnings, meaning you only end up with a 16% gain. The lower the fee, the higher the net earnings. So what happened to the bet? Buffett won, and donated the winnings to charity. He managed to beat his high-priced peers not because he scored bigger gains, but because he minimized costs. Be aware of broker fees, but your strategy can also cost you. The capital gains tax rate favors long-term investments. An investor who buys and sells their stocks within a few months will face a higher capital gains tax rate (25 percent) on their profits than an investor who buys and holds their stocks for a full year (15 percent).

The larger your investment, the bigger the difference. Granted, there’s a risk to holding an investment for longer, but if you’re close to that one-year cutoff, it might be worth it to sit tight for a few more weeks. Mutual funds and ETFs come with their own set of fees, too. Like broker fees, pay attention to the expense ratio — usually a percentage of any mutual funds or ETFs you purchase in your account — even if you’re buying them commission-free. These extra fees are another big cost to investors, but they aren’t deducted from your account balance. Instead, these fees show up in the price on the ticker tape. That’s why many high-priced mutual funds’ and ETFs’ value per share doesn’t seem to change over time — any growth is offset by fees. Also watch out for mutual funds that charge a front - or back-end load for each purchase or sale. These usually range from 0.5% to 1% and can add up quickly. Play with your own fake money. Give yourself a few thousand in fake money and play investor for a bit while you get the hang of it. “Just start. Even with just a virtual portfolio.

Start and then commit to building over time,” says Jane Barratt, CEO of investment education and advisory company GoldBean. “Don’t expect anything major to happen in a short time — build your money muscles by taking risks in a virtual portfolio.” TD Ameritrade offers paperMoney, its virtual trading platform. If you open an account, OptionsHouse offers its paperTRADE account to test your strategies. Outside of actual trading sites, MarketWatch and Investopedia offer simulators to get you started. Our experts suggest you begin by looking at your own life. “Buy what you know, where you are. If you can, identify good companies locally,” says Randy Cameron, a portfolio manager and investment advisor with 35 years of experience. “Look for companies you and your friends are talking about, ones with plans to go national.” As for how much time and money you need, “Start with what you have,” he says. There is literally no minimum to get started, and starting with just one share is better than putting things off. Don’t check your account too often.

The best investors are in it for the long haul. Checking your account too often might make you react to the fluctuations in the market too quickly. Personal finance expert Ramit Sethi has written that you should check your investments, “probably every few months, with a major review every year.” On many sites, you can also set an alert if a stock dives. Other than that, just set a quarterly recurring appointment so you know you’ll handle it at the right time. Best Forex Broker 2018. Monday, April 2nd, 2018. The ForexBrokers. com annual review is among the most cited in the industry . With over 83,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Industry leaders trust us because our rigorous testing is totally independent and 100% unbiased. Trading with the right forex broker is critical to success in the international currency markets. As a currency investor, you may have specific platform, tool, or research needs that should be met. Understanding your investment style can help determine which FX broker may serve as the best forex broker for you. Our team here at ForexBrokers.

com has assembled a quick guide to some of the top online forex brokers. In each individual FX broker summary, we highlight where each broker stands overall and against its competitors. This review will surface the most important features andor benefits of selecting one forex broker over another, including discounted commissions, differences in trading account requirements, available research tools and trading platforms, as well as the quality of customer support. Best FX Brokers for Forex Trading. Here's a breakdown of some of the best foreign exchange brokers available for online fx trading. Saxo Bank - Best Overall. Saxo Bank finished 1st in our 2018 Annual Review of 43 brokers. Its competitive pricing, access to a wide range of markets, multiple regulatory licenses, and innovative trading platforms provide forex traders around the glove an all-around excellent offering. Saxo Bank. IG - Best for CFDs, Most Trusted. Rated as our Most Trusted Broker of 2018, IG Received 5 Stars and second overall in our 2018 Review.

IG also finished #1 for Offering of Investments (5 Stars) and Education (4.5 Stars). In total, IG placed Best in Class for seven of the eight review categories. Read more. eToro - Best for Social, Copy Trading. Traders looking to harness the power of crowdsourcing to find trading ideas have ample tools on eToro’s social trading network to copy the trades of other users in real time across over 1000 instruments, including CFDs on popular cryptocurrencies. Read more. Swissquote - Best for Crypto, Banking. Swissquote is a trusted, global multi-asset broker and bank offering traders access to over two million products, from forex to CFDs, exchange-traded securities, wealth advisory services, underlying cryptocurrencies, and more. Read more. CMC Markets - Best Currency Offering.

Through its offices regulated in major financial centers, CMC Markets offers traders a wide range of offerings across global markets with its Next Generation trading platform, which is packed with innovative trading tools and charting. Read more. FxPro - Best for MetaTrader. Ranked #1 for MetaTrader brokers, FxPro caters to the needs of a diverse range of traders due to its various orders and account types, as well as its execution and pricing models, which offer instant execution, and floating or fixed spreads. Read more. Forex. com - 4.5 Stars. FOREX. com earned 4.5 stars Overall and finished Best in Class in seven main categories. The firm’s parent company, GAIN Capital, remains one of the largest forex brokers in the United States and caters to global forex traders of all experience levels. Read more. Dukascopy - Best for Trading Tools, Mobile Trading. Dukascopy Bank boasts the most robust offering of desktop and mobile platforms, helping it finish #1 for Platform & Tools and #1 for Mobile Trading in 2018.

The innovative JForex platform suite and competitive commission structure give traders access to extensive resources for a growing range of forex pairs and CFDs. Read more. Interactive Brokers - Best for Professionals. Ranked #1 for Professional traders, Interactive Brokers is known for its diverse offering of investments. Founded nearly 40 years ago, clients can trade on more than 120 market centers in 26 different countries, and deal in forex, CFDs, stocks, options, ETFs, futures, bonds, and more. Read more. TD Ameritrade - Best for US Residents. Available only to US residents for forex trading, TD Ameritrade ranked #1 for Customer Service and Platform Technology in our 2018 Review. The broker’s thinkorswim platform provides one of the most powerful charting applications, offering nearly 400 technical indicators.

Choosing the Best Forex Brokerage. Here are some of the most important factors to keep in mind when choosing the best online forex brokerage for currency trading. Regulation: Not all regulatory jurisdictions and licenses are created equal for international forex and CFD Brokers. Investors should know which country their broker is based in and which country’s laws apply to their account. To avoid fraud, it is critical to use a broker that is well-known and well-regulated. To quickly identify brokers you can trust, reference the Trust Score we provide on each broker’s review page. Company Policies and History: As part of every investors due diligence process, steps to help ensure account security should include verifying a firm’s regulatory licenses and its legal obligations in safeguarding client monies. It's also important to review the customer agreements, read up on the company's history, and make sure their primary offices are located in a well-respected country, if not your own. Range of Markets Offered: It’s always important to determine which markets or individual trading products (currency pair or stock symbol) you want to trade, then check to make sure they are offered. Also check to make sure the products you want to trade are available in your region.

See section, “Best offering of Currency Pairs, CFDs” below. FX Trading Tools & Platforms: Which platforms and trading tools are available for the products you are considering? Are compatible with your web browser, computer operating system, or mobile smartphone, or any other devices you are planning to use for trading? See section, “Best Forex Trading Platform” below. FX Analysis and Global Market Research : Available research tools for scanning, analyzing, and overall conducting technical and fundamental analysis will vary from broker to broker. See section, “FX Research” below. Forex spreads, commissions, and overall trading costs : For forex trading, spreads and any round-turn commissions will make up the all-in cost to complete (openclose) each trade. The same generally applies to CFDs, in terms of bidask spreads plus any per trade commission. See section, “Lowest Trading Costs” below. Order Execution: Available execution methods can depend on whether the broker is a principal dealer acting as a market-maker, andor if they are an agency-only broker relying on third-party dealers (liquidity providers). Other execution methods, policies, conditions, or available order types can vary (including premium or free trade protection tools such as guaranteed stop-loss orders, fill-or-kill or fill with within a maximum deviation range) can vary from broker to broker. Order Type and Execution: Some execution methods or order-types may incur negative or positive slippage.

This means orders will fill but the fill price could be better or worse than requested. Since each broker is different, some firms may re-quote an order with a new price for you to accept (or reject) in the case the price has changed. Customer Service: Customer service is important. The scope and quality of support can be a major differentiator across online FX brokerages, ranging from the speed and overall quality of assistance to the availability across global trading hours and international markets. See section, “Customer Service” below. Education: Currency trading can be complex. Even seasoned investors are constantly learning to expand their breadth of currency markets. The disparity between currency brokers that provide thorough, high quality education, and those who do not is vast. See section, “Education” below. Lowest Trading Costs. CMC Markets - 5 Stars Saxo Bank - 4.5 Stars IG - 4.5 Stars Dukascopy - 4.5 Stars GAIN Capital (FOREX.

com) - 4.5 Stars TD Ameritrade - 4 Stars City Index - 4 Stars. Forex trading costs are not easy to break down. Reasons why trading costs can be impacted: bidask spreads can vary across venues (because forex is decentralized), forex spreads may be either fixed or variable (floating), and variable spreads may widen or narrow (vary) at different rates across brokers. Furthermore, execution policies vary across firms in terms of how orders are handled (slippagerejections), even when all else is equal. Brokers may be acting as market makers (dealers) to execute your trades andor may be acting as agents for execution (relying on other dealers to execute). Forex spreads may include a round-turn commission. While the all-in cost to trade can be critical for many traders, it is important to look at the whole picture in terms of how a broker’s overall offering could best suit your needs. To assess brokers, we took into consideration how much beginners, average traders, and even more seasoned traders would pay, looking at average spreads for standard forex contracts (100,000 units) as well as mini accounts (10,000 units) and micro accounts (1,000 units), where applicable. We then calculated the all-in cost by including any round-turn commission that was added to prevailing spreads. When it comes to competitive all around pricing, CMC Markets took first place as the best broker in the commissions and fees category.

With an average spread of just 0.772 pips on its EURUSD using November 2017 data, CMC Markets offered the most competitive all-in cost to trade. Also, the broker lowered the barrier for entry into its active trader rebate program, helping to boost its ranking. In second place was Saxo Bank. The broker revamped its commission structure with the roll-out of additional tiers for both entry-level and active traders from its Asia offices. Previously, entry level traders only had the commission-free options where spreads were wider, yet with Saxo Bank’s new volume-based structure, even entry-level traders with low volumes now enjoy competitive commissions. A 0.5 pip equivalent added to low average spreads of 0.4 pips (using spread data from February 2018), results in an all-in cost of 0.9 pips on the EURUSD. More significant discounts are available for higher-volume traders. Rounding out the top three on the podium in 2018 was IG. The broker averaged spreads of 0.74 pips on the EURUSD for the 12 weeks ending February 24th 2017, and offers Forex Direct as part of its commission-based active trader offering. Dukascopy Bank maintained its fourth-place position, with a default commission tier of $7 per round-turn ($3.5 per side) and low underlying average spreads of 0.24 pips on the EURUSD using spread data provided by the broker for the US Session during December 2017. Dukascopy Bank’s all-in cost on the EURUSD of 0.94 pips (0.24+ 0.7 commission) for its entry-level offering, combined with higher discounts for active traders, helped the broker again finish Best in Class.

Following closely in fifth place was GAIN Capital, with its Forex. com brand rolling out its Active Trader offering in 2017. Forex. com’s new pricing favors active traders and even entry-level traders. Those who maintain an average monthly balance of $20,000 see an all-in cost of 1.3 pips on the EURUSD (using typical spread data for November 2017). Behind Forex. com, TD Ameritrade and City Index rounded out the top seven for 2018. While the all-in cost to trade can be critical for many traders, it is essential to look at the whole picture in terms of how a broker’s overall offering could best suit your needs. Questions to ask include: What are average spreads for the account types offered? How will differences in margin requirements or execution affect my forex trading volumes and related trading costs? These are just some of the questions that can help traders consider key differences between offerings.

Best Forex Trading Platform. Dukascopy - 4.5 Stars Saxo Bank - 4.5 Stars IG - 4.5 Stars GAIN Capital (FOREX. com) - 4.5 Stars TD Ameritrade - 4.5 Stars Interactive Brokers - 4.0 Stars FXCM - 4.0 Stars. Forex trading platforms are the modern gateway to investing in international currency markets. Regardless of your trading style, or preferred multi-asset instrument, the platform technology you use can affect nearly all aspects of your trading experience. From accessing research to analyzing news events or performing technical analysis on charts, forex trading platforms share the common goal of making it easy to help you trade and discover trading opportunities, while managing your personal investments. Over the past decade, forex trading platform technology has continued to evolve steadily across devices, with a shift from desktop to web and then to mobile. With ongoing enhancements to the user experience throughout the year, forex brokers compete for market share amid shifting regulations and the evolving needs of traders. After more than doubling the number of international forex brokers we tested this year to 43, it was clear that the best forex platforms managed to pack a slew of features and tools into a simplified user experience, while keeping the technology up to date with the latest supported standards.

After more than doubling the number of international forex brokers we tested this year to 43, it was clear that the best forex platforms managed to pack a slew of features and tools into a simplified user experience, while keeping the technology up to date with the latest supported standards. All in all, these platforms provide customers a rich and pleasurable experience in all critical areas of forex trading. For the Best Forex Trading Platform category, Dukascopy Bank took the top podium spot this year for its highly innovative JForex 3 platform, which comes available for desktop, web, and mobile, and is compatible with Windows, Mac, and Linux operating systems. Charting in JForex 3 comes packed with 313 technical indicators and the platform supports automated trading strategies, helping it compete with popular third-party software, such as the MetaTrader4 (MT4) platform and cTrader platform. Saxo Bank followed closely in second after the broker added additional tools into its highly innovative and responsive web-based platform, SaxoTrader GO. For example, Saxo Bank fully integrated AutoChartist, giving it a native feel within the platform. Also, Saxo Bank provides a seamless experience on mobile, including watch lists and charts that sync across desktop, web, and mobile. Third place goes to IG for its innovative web platform, which comes packed with versatile charting, automated pattern recognition tools, and its premium ProRealTime charts. For more advanced traders, IG’s L2 Dealer desktop-based platform provides an array of advanced features for experienced forex traders who need the extra tools usually found on desktop platforms. GAIN Capital’s Forex. com platform followed in fourth place, as the broker launched its responsive Web Trading platform powered by Trading View, helping to complement its innovative desktop-based FOREXTrader Pro platform. In addition to launching its web-based platform that runs on HTML5, the broker more than doubled the number of indicators to 139 in its desktop platform. TD Ameritrade’s thinkorswim platform features thinkScripts for algorithmic trading, as well as the ability to create push notifications and alerts on indicators, and even the capability of building custom ones from scratch. In total, thinkorswim offers 397 indicators, which is more than any other broker we have reviewed. Rounding out our top seven are Interactive Brokers and FXCM. Overall, the best forex platform for you will depend on a myriad of factors.

First, do you prefer a web-based environment or desktop download? Next, consider how important tools such as charting or automated trading are to you. Available order types and other unique tools and features are also items to keep in mind. Fortunately, nearly every forex broker supports opening a demo account and testing out the experience in a simulated trading environment. Read our full-length reviews to learn more about these industry-leading brokers, compare them side by side, then open test accounts to finalize your selection. Best Offering of Currency Pairs, CFDs. IG - 4 Stars Saxo Bank - 4 Stars Interactive Brokers - 4 Stars GAIN Capital (FOREX. com) - 4 Stars CMC Markets - 4 Stars Swissquote Bank - 3.5 Stars eToro - 3.5 Stars. Foreign exchange markets are open 24 hours a day, five days a week, which means investors can constantly scan international markets for opportunities to invest. Having access to multiple asset classes from within a single platform is important to many investors, as financial markets, including forex and even cryptocurrencies, are highly interconnected.

The ability to react quickly to geopolitical and economic news events in real time is key. In the early 2000s, a fine line used to exist: brokers were most often concentrated on offering just one asset, for example forex, to their customers. However, today trading platforms are no longer just for trading forex, stocks, or futures; instead, multi-asset offerings are now industry standards among all the largest online brokers. That said, the range of products and markets you can trade still varies considerably across firms. IG placed first with 15,000 tradeable instruments available including 95 forex pairs and boasts the most regulatory licenses among all brokers, including from top-tier jurisdictions such as the US, UK, and Switzerland, among others. IG placed first with 15,000 tradeable instruments available including 95 forex pairs and boasts the most regulatory licenses, including from top-tier jurisdictions such as the US, UK, and Switzerland, among others. IG also significantly expanded its range of cryptocurrency CFDs on a year-over-year basis and provides access to global stock exchanges through its share-dealing account offering (for more information about IG’s share-dealing offering, read our IG Group UK share dealing review on our sister site, StockBrokers. com). Saxo Bank held second with 9,000 CFDs available and 139 currency pairs, including off-exchange forex options trading supported on key major pairs and crosses. Saxo Bank’s offering of wealth advisory solutions to investors further complements its position, including its offering of Bitcoin-related exchange-traded funds. Interactive Brokers took third place with a wide range of top-tier regulatory licenses. Interactive Brokers provides traders access to 6,200 CFDs (up from 4,217), 85 forex pairs, global exchange-traded products, US-traded Bitcoin futures, and much more. FOREX. com took fourth place with a wide array of top-tier regulatory licenses, as well as 84 forex pairs. CMC Markets placed fifth with 9,959 instruments, including 330 forex pairs (including two-way quotes, such as EURUSD and USDEUR), which is the most number of forex pairs of all the broker’s we’ve tested in 2018.

CMC Markets also has regulatory licenses in major jurisdictions such as Australia, Singapore, and Canada. Swissquote bank followed with top-tier licenses, and although the broker only lists 38 CFDs alongside 78 forex pairs, in a separate trading platform, which requires a different account, it offers nearly two million tradeable products. The broker also was the first bank to offer bitcoin as an underlying (non-CFD), in addition to creating an exchange-traded note tied to Bitcoin’s price on the SIX Swiss stock exchange. Lastly, eToro finished seventh for its wide range of products and respectable list of licenses. Saxo Bank - 4.5 Stars IG - 4.5 Stars Dukascopy - 4.5 Stars CMC Markets - 4.0 Stars City Index - 4.0 Stars GAIN Capital (FOREX. com) - 4.0 Stars. Almost every forex broker aims to provide its clients with research content and tools to find and analyze investment opportunities. At the same time, we are living in the digital information age where traders can get lost in the sea of forex news headlines, making it hard to get the information they need unless brokers provide the right structure for forex research. Beyond news headlines and an economic calendar, leading forex brokers usually integrate in-house research for fundamental news and technical analysis, then couple it with outsourced research content. Firms that take it a step further may even create their own TV channel, for example, to stream video updates instead of providing basic daily or weekly video updates. Furthermore, daily or weekly market recaps, live trading rooms, and integrated pattern - recognition tools for news events and charts, as well as screeners, heat maps, and sentiment indicators are increasingly integrated as research tools available within trading platforms.

Saxo Bank deserves its top spot for research in 2018, as it delivers on all fronts for forex research from both its website and within its trading platforms. For conducting forex research in 2018, Saxo Bank held its first place position as the best broker in this category. While many brokers struggle to organize research for their customers, Saxo Bank does a fantastic job centralizing the research it provides across its platform suite, within its recently redesigned website, and on its Trading Floor offering. Saxo Bank incorporates a social network where traders share commentary about markets on Trading Floor and provides access to in-house and outsourced research reports, including pattern-recognition tools. IG took second place for research, with a broad range of tools available through its web platform. The broker offers its own streaming video, IG TV, along with a vast array of daily blog updates and detailed posts from a team of global analysts. Lastly, the broker’s integration of DailyFx continues to evolve as the site remains a leader for retail traders seeking educational and research content. In third place is Dukascopy Bank which also held its position year-over-year. No broker puts out more content than Dukascopy thanks to its in-house, out-sourced, and community-sourced research and news content. The Swiss bank and brokerage incorporates an extensive amount of research-related content within its website and trading platforms, along with a fully staffed professional TV studio that powers Dukascopy TV. To round out its offering, Dukascopy provides many social elements within its community to engage traders with important market content and related analysis tools, as well as even competition incentives (beyond the typical deposit bonus). CMC Markets took fourth place, followed by City Index and Forex. com, both GAIN Capital brands, and FXCM. Dukascopy - 4 Stars Saxo Bank - 4 Stars TD Ameritrade - 4 Stars IG - 4 Stars CMC Markets - 4 Stars Interactive Brokers - 4 Stars GAIN Capital (FOREX.

com) - 4 Stars. While nearly all forex brokers have offered mobile apps for years, the competition continues to increase as clients demand many of the same features in mobile that are normally found on desktop and web platforms. The global use of mobile devices to access online services, ranging from email to social network sites such as Facebook, Twitter, and LinkedIn, has continued to grow exponentially in recent years. To determine the best forex brokers for mobile trading in 2018 we focused on identifying mobile experiences that were bug-free, cleanly designed, and provided a wide range of features. To determine the best forex brokers for mobile trading in 2018 we focused on identifying mobile experiences that were bug-free, cleanly designed, and provided a wide range of features. Additionally, we looked for brokers who have been able to create a seamless experience between their mobile apps and their desktop andor web-based platforms. First place goes to Dukascopy Bank, whose SWFX Trader app comes with more research and pattern recognition tools than any other broker we reviewed. The app also includes an impressive array of charting capabilities, complex order types, and other advanced features such as depth of book, all packed into a clean user design. Saxo Bank took second place with its SaxoTrader GO mobile app. SaxoTrader GO is highly responsive and provides traders a unified experience with its web-based platform, offering unique features such as syncing trend lines, indicators, and watch lists. In addition, the broker’s native integration of trading signals and pattern recognition, powered by Auto Chartist, are also automatically synced with its web-platform.

Like Saxo Bank, TD Ameritrade also provides a feature-rich, unified platform experience. Advanced order visualizations, syncing watch lists, and charts that support over 300 indicators are just a sampling of the functionality available to clients. Meanwhile, IG took fourth place for its mobile app which integrates pattern recognition and comes with robust charting that stays neatly organized even when loaded with numerous concurrent indicators. CMC Markets followed in fifth place as its mobile app offers unique features such as the ability to subscribe to future news events. Charting in the app comes packed with technical indicators and drawing tools available in landscape mode. Interactive Brokers and FOREX. com finished sixth and seventh, respectively. Both brokers boast robust mobile offerings that will impress the vast majority of fx traders. TD Ameritrade - 5 Stars LCG - 4.5 Stars FXCM - 4.5 Stars ADS Securities - 4.5 Stars XTB - 4.5 Stars ETX Capital - 4.5 Stars Hantec Markets - 4.5 Stars.

When using a forex broker, a single customer service experience is not enough to assess the all-round quality and scope of service. Instead, multiple phone calls, emails, and live chat interactions should be conducted to determine an overall rating of customer service. Here at ForexBrokers. com, we follow the rigorous testing approach used by our sister site, StockBrokers. com, the most respected in the industry when it comes to trusted US stockbroker reviews. For our assessment of 43 international forex brokers, 120 phone calls were made to offices across the globe. Brokers who did not offer any phone support were penalized, with email and live chat being used as an alternative testing method. TD Ameritrade really stood out among the 43 brokers reviewed, as the firms staff were resourceful and always highly eager to make the customer interaction positive. Among the top five, TD Ameritrade took first place.

TD Ameritrade stood out among the 43 brokers reviewed as the firm’s staff were resourceful and always highly eager to make the customer interaction positive. London Capital Group proved its ability to provide world-class customer service as representatives were attentive and provided detailed and informative responses. Connection times averaged less than one minute per call, a quality that we ended up experiencing for most of the top finishers. Rounding out the top five were FXCM, ADS Securities, and XTB. FXCM’s support had the longest average wait time of our top seven; however, reps were always professional and never had trouble answering our questions. XTB also consistently delivered on its around-the-clock service, and ADS Securities provided tailored support for us as a dedicated customer service representative is assigned to each customer for calls made during regular market hours. ETX Capital and Hantec Markets finished sixth and seventh, respectively. It’s important to note that among the top seven in the customer service category, the results ranked so close that even one additional excellent customer service experience could have changed the overall ranking for that broker. This shows just how tight the competition is among top-rated forex brokers in providing quality customer service. IG - 4.5 Stars CMC Markets - 4.5 Stars Forex. com - 4 Stars FXCM - 4 Stars Saxo Bank - 4 Stars Admiral Markets - 4 Stars City Index - 4 Stars. Providing forex traders with effective educational resources is important. Put simply, educated investors make more intelligent investment decisions. Most forex brokers consistently strive to educate their existing and prospective clients. That said, the delivery and quality of educational content varies. First place once again went to IG this year as the broker provides one of the most comprehensive offerings of educational materials for forex.

For our assessment of forex broker education, we analyzed ten different variables for each firm. Our focus covered the basics of forex trading to advanced strategy. Components assessed included blogs, articles, video content, seminars, webinars, and content organization, among others educational resources. Forex broker platform tutorials and FAQs were not considered educational materials. First place once again went to IG this year as the broker provides one of the most comprehensive offerings of educational materials for forex. For example, a video accompanies nearly every article and the broker even offers its own educational mobile app. Furthermore, IG holds in-person seminars to cover areas such as advanced technical analysis, and for its online webinars, archived recordings are readily available. CMC Markets followed in second place thanks to its comprehensive education portal that neatly organizes content by type, including articles and videos, along with daily webinars and events. FOREX. com finished third thanks to its newly enhanced education center which launched in the US and extended into its UK branch, where educational content is grouped by experience level as well as by educational themes such as trading concepts, risk management, trading strategies, and technical and fundamental analysis. FXCM followed in fourth place, offering a wide array of educational resources, including advanced topics in its monthly “Afterwork” seminars, in addition to its Live Classroom which provides recorded and archived webinars. The firm also offers eBook-style trading guides that are organized by experience level. Saxo Bank took fifth place with its broad range of education-related materials, which are grouped by experience level and cover multiple asset classes including spot forex and forex options under the company’s Saxo Academy offering.

Saxo also over a dozen videos on its YouTube channel under its TradeMentor series, in addition to materials on its TradingFloor portal. Admiral Markets and, City Index finished sixth and seventh, respectively.



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