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Choosing The Best Forex Broker FXTM

As always, only invest capital that you can afford to lose (even if you’ve got a sure bet). Experienced retail investors can get DotBig a clear picture of where each company lies in accordance with their stance on LGBTQ+ rights, ocean life conservation, and more.

Best forex broker

Adhering to rules and standards is the only definite sign that a broker takes trading very seriously. Because we believe that active traders should have a world of options at their fingertips, we prioritized foreign exchange platforms that give investors the broadest range of markets to choose from. Regulation of forex brokers is important for maintaining business standards and protecting clients. The Commodity Futures Trading Commission says that most scams involve unregistered people, products or companies.

Choose your account

Investopedia is dedicated to providing traders and investors with unbiased, comprehensive reviews and ratings of online brokers. We established a rating scale based on our criteria, collecting thousands of data points that we weighed into our star scoring system. Saxo Bank has operated in the United Kingdom since 2006 through its subsidiary Saxo Capital Markets U.K. Ltd Forex news and, like many forex brokers, it doesn’t accept U.S. traders. Out of all the forex brokerages, Saxo Bank is probably the most exclusive, but due to its low-risk, highly trusted platform, it’s considered to be one of the best by today’s forex traders. As one of the major U.K.-based forex brokers, LCG offers a wide range of asset classes and a seamless trading experience.

Best forex broker

As an online broker that’s publicly traded on the NASDAQ, is highly trusted in the industry. They’re also the most regulated, with four tier-one jurisdictions under their belt. You can get started in minutes, and minimum deposits start at just $10.

Things to Consider when Choosing a Forex Trading Platform

Most traders prefer to make their own decisions when it comes to trading the forex markets. There are a number of social trading platforms in the market, but one of the standouts in this category is eToro. They have revolutionized the way social trading works and they currently have an active community of over 4 million traders using their technology.

  • In choosing the best online forex broker you should consider those that have 24 hours a day, 5 days a week support.
  • Though most of the features are comparable to the best forex brokers, where eToro shines is with its copy trading feature.
  • Tier-two is an “average trust” jurisdiction with regulatory agencies in China, Israel, Ireland, and others.
  • These are all regulated brokers we have reviewed which support MT4 sorted by overall score.

Though there’s not a single that will suit everyone equally, you can choose the best forex broker that’s right for you if you know what to look for. There are also some clear red flags that will help you avoid problematic forex platforms that are rife with scams.

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