Forex trading is buying and selling of foreign currencies. It is said to have a daily trading volume of about $6.6 trillion. Looking at this vast daily trading volume of the forex market, traders can make a lot of money not from only having the fundamental and technical analysis skills but also from using a good and trusted forex trading broker.
In this article, you will realize there are reliable forex trading brokers you can trust with your fund and be able to make the most out of the huge trading volume of the forex market.
Now let's look at the best 4 forex trading brokers and what make them different from the rest:
1. Exness.com:
Safe or scam?
Exness is not just controlled and authorized by two of the most stringent and demanding bodies. Retail clients are joining up with respected authorities such as CySEC, FCA, South Africa's FSCA, SIBA, the BVI Financial Services Commission, and the Central Bank of Curaçao.Exness keeps client funds in separate accounts and offers customer safety.
Furthermore, Exness is a member of an investor compensation system, which pays out a certain amount to each client if the company goes bankrupt.
In Nymstar Ltd, Exness solely welcomes retail traders (Seychelles). Exness is governed by the reputable CySEC, FCA, South Africa FSCA, SIBA, the BVI Financial Services Commission, and the Curaçao Central Bank.
It is regulated and permitted by CySEC, FCA, South Africa FSCA, SIBA, the BVI Financial Services Commission, and the Central Bank of Curaçao, in addition to its EEA registration. As a result, Exness is a very reputable and trustworthy broker.
Exness is one of the best brokers I personal use ever since I started forex trading for the past three years. It allows it users to even trade in their local currencies.
Support:
Their support service is one of the best and they are available to assist you every day and every time of the week.
Withdrawal and Deposit:
Withdrawal and deposit on Exness platform is instant. However, when you choose cryptocurrency as your payment and withdrawal methods, the money will reflect after three confirmations.
Fees:
Link to register: https://one.exness.link/a/umh2md35
2. Templerfx
Templer FX was established in 2004 and is run by Templer Holdings Management Limited, a Saint Vincent and the Grenadines-based holding company.
Templer FX strives to distinguish itself by offering its clients a world-class trading environment, which it accomplishes through a three-pronged approach of Customer Service, Research, and Execution.
As a result, Templer FX clients have access to a wide range of trading opportunities, including Forex, CFD, Indices, and Metals speculation via the industry-leading MetaTrader4 platform.
Templerfx Accounts
Templer FX provides five different account types, which is more than most brokers in the industry. Except for the Segregated Account, which has an extremely high minimum deposit of EUR 50 000, all of these accounts accept only USD deposits.Deposit and Withdrawal
Templer FX does not impose deposit or withdrawal fees, and the minimum deposit required varies by account type, ranging from as little as $1 to as much as EUR 50 000.
Cost and fees, commissions and spreads
Templer FX does not charge commission but does take a cut of the spread. These spreads vary based on the instrument, however typical spreads for major currency pairs begin at 0.5 pips for EUR/USD.Registration link: https://dashboard.templerfx.com/login/sign_up/757861
3. Liteforex/Litefinance:
LiteForex Investments Limited is a well-known CFD and FX brokerage. Clients can use a variety of deposit and withdrawal methods to trade on the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.This broker review will include information about the sign-up process, contacting customer service, bonuses, and leverage, allowing you to make an informed decision.
Spreads and commission
The spread is used to calculate the fee charged by LiteForex Investments Limited. Spreads differ depending on the account and asset being traded. The Classic account employs a spread-based approach, whereas the ECN account employs a commission-based system. The commission is $5 per lot.
Spreads are generally competitive, although big currency pair spreads can be as high as 2 pips. Spreads on key indices, such as the FTSE 100, start at 1 point.
Regulation
LiteForex Investments Limited is a Marshall Islands company incorporated under the Marshall Islands Business Corporation Act (registration number 63888).Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 is the company's address.
Registration Link: https://www.litefinance.com/?uid=555209305
These are the best four forex trading brokers; per my experience over the years, you can trade with safely. However, do research and confirm all the information given on each broker in this article and make your personal decision.
Drop the name of the broker you trade with or know in the comment section.
4. Hotforex
HF Markets UK (HotForex) is a well-known broker founded in 2010 by founder and owner George Koumandaris. The firm is the UK subsidiary of the worldwide brokerage firm HF Markets Group.
The company is well-known in the market, with 200+ global employees, 2,500,000+ live accounts opened, and more than 50 industry awards.
Safety and Securities
LiteForex Investments Limited provides a safe and secure platform, with firewalls and isolated servers. LiteForex Investments Limited suggests using a VPS to manage trades while consumers' devices are turned off.It does not require an internet connection or a power supply and provides some protection to web merchants.
The broker charges exchange rates for overnight positions, but there are no other hidden expenses, such as inactivity charges.
Fees
Only the HF Markets Zero spread account is subject to commissions. Fees on key forex pairs such as EUR/USD, USD/JPY, and GBP/JPY start as low as $0.03 per 1k lot. Other forex pairings have commissions as low as $0.04 per 1000 lots. GBP/NZD, EUR/DKK, and USD/RUB are examples.The broker charges exchange rates for overnight positions, but there are no other hidden expenses, such as inactivity charges.
Conclusion
These are the best four forex trading brokers; per my experience over the years, you can trade with safely. However, do research and confirm all the information given on each broker in this article and make your personal decision.
Drop the name of the broker you trade with or know in the comment section.